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There's a way to levy a wealth tax that requires no asset liquidation whatsoever. Allow paying taxes with assets. The assets go into a sovereign wealth fund. At
by triceratops 5mo ago
There's a way to levy a wealth tax that requires no asset liquidation whatsoever. Allow paying taxes with assets. The assets go into a sovereign wealth fund. At scale the fund effectively holds a percentage of the entire economy. Its returns should only be used to reduce income tax.
- kansface 5mo agoThe sovereign wealth fund would be a stakeholder in equities and estates. It would have to exercise voting privileges and be a party to lawsuits. Do you want Trump getting control of the board of eg SpaceX or Meta?
- triceratops 5mo ago> It would have to exercise voting privileges There's never a requirement to vote your shares. I've never cast a single shareholder vote in my life. The fund could be legally required to not exercise any votes. > be a party to lawsuits Since when are shareholders a party to lawsuits? It's called limited liability for a reason. > Do you want Trump getting control of the board I'd normally say "legally structure it so that doesn't happen" and "follow best practices".But laws only mean anything if someone enforces them. If the government doesn't function correctly no government function can work correctly.