Comment on How would you actually tax the ultra wealthy?
phoenixz@lemmy.ca 1 week agoNah, just 10M wealth caps…
Management is free to give you a 100M bonus! If your current worth is 1M, 91M of that bonus will go to taxes and you receive 9M and after that, all goes to taxes.
If you have shares, and the value of those shares goes up? You’ll have to pay the taxes over that, sell some shares, and pay money to taxes. And yeah, companies would simply need boat loads of small shareholders.
Fjdybank@lemmy.ca 1 week ago
My friend, I think you simply misunderstand the value of companies. Microsoft has a market cap of 2.7trillion. a wealth cap of 10m means that 270,000 people will be maxed at that cap. For one company. Who of that 270,000 runs the company?
Then extrapolate out to all listed and private companies. Your theory is incompatible with how companies operate.