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The point isn't to do anything more than appease the pitchforks. Headlines like this with vague "Taxing the rich" will just let everyone who has their own idea
by chung8123 2y ago
The point isn't to do anything more than appease the pitchforks. Headlines like this with vague "Taxing the rich" will just let everyone who has their own idea on what taxing the rich is be happy. In some people's minds it will bring down the deficit. In some it is about sticking it to the man more than anything else.
What will end up happening is they will make a wealth tax, companies will stay private and hide behind accounting for their income and it will shut off wealth building for many.
- wkrsz 2y ago> What will end up happening is they will make a wealth tax, companies will stay private and hide behind accounting for their income That makes sense > and it will shut off wealth building for many. Can you elaborate on how would wealth building be shut off?
- chung8123 2y agoIf companies decide to stay private the vast majority of people won't be able to invest in companies. As well as companies will be taken private more often. If you own a company like TSLA where the revenues don't make the stock price you would be better of being private and showing the company is "worthless" in terms of profit.
- chung8123 2y agoAlso to add, public companies have to share their financial records. Private companies can keep them private for the most part (not to the government though). It will make financials more opaque.