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If we’d taxed Elon 90% the day he first became a billionaire, where would that money be today? Tesla wouldn’t be worth $400B or whatever. He would not have kep
by hindsightbias 2y ago
If we’d taxed Elon 90% the day he first became a billionaire, where would that money be today?
Tesla wouldn’t be worth $400B or whatever. He would not have kept voting control. They have to give him $50B just to keep the stock propped up.
So you tax every billionaire $900M and all that stock ends up in some hedge fund that says “your battery factory will cost $5B!? NOPE!” “You want to build a rocket that lands itself? You’re NUTS!” “You want to operate an online retailer that never shows a profit?”
That world leads to whatever progress GM, Sears and Boeing choose to give to us.