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Exactly, at that point it shares need to be taxed. SpaceX is valued at ~$1T Dollars and you own 60% of the shares? OK now you are paying taxes on those 60% ever
by calgoo 4mo ago
Exactly, at that point it shares need to be taxed. SpaceX is valued at ~$1T Dollars and you own 60% of the shares? OK now you are paying taxes on those 60% every year, not on the income it generates, but on the value of what you own.
Same for land - Anything above X size or # of properties gets taxed at 50% the land value each year.
Now would this happen? Who knows, and also it will have other effects, like devaluing the stockmarket as no one want to pay taxes on billions worth of stocks.
- oulipo2 4mo agoExactly. That's a way to force their wealth to become productive or to disappear
- slashdev 4mo agoThis sounds a lot like taxing unrealized gains on illiquid assets. A very dangerous idea that would kill innovation and job creation.
- nelsnelson 4mo agoDevaluing the stock market would be a good idea since it would detach people's retirement funding from the decisions made by mobs of speculative gamblers. But would require a return to pension funds or some other collective funding.