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#wealth#money#more#should#tax#capital#using#actually#sell#stake

Discussion (7 Comments)Read Original on HackerNews

entech•9 minutes ago
I think that a more reasonable approach should be to tax capital on capital movements (E.g. using any of your wealth to borrow money or using your property as collateral) - capturing the events of when you are 'accessing' your money without actually selling anything and making any profit. Apply it to everyone - not just billionaires.
NkVczPkybiXICG•about 1 hour ago
I’m not informed enough to have an opinion on prop 40, but it’s disingenuous to say that she would have to sell $250m of her stake in in-and-out. She could take out a loan against her stake and pay the tax with the proceeds, then pay off the loan over time with the income from her ownership of in-and-out.
SMAAART•about 1 hour ago
But she would have to do that (borrowing $250m) every year, and the company's cash flow might not be able to sustain the repayment in 12 months; and it the borrowing keeps stacking, then she would have to sell part of the company; and that's the point of the article.
N_Lens•about 6 hours ago
Because unfettered capitalism creates runaway wealth compounding for the winners, wealth taxes are one lever to balance the game a bit.

Only one person enjoys the end stages of a monopoly game where that person has cornered the properties and money flows to them unimpeded.

hdgvhicv•about 5 hours ago
A lot of founders and wannabe founders think that winner is going to be them.
N_Lens•about 4 hours ago
They just haven't thought their way through to the endgame. So you end up on top, temporarily, frantically trying to hold on to your position. It's ultimately not a satisfying or fulfilling pursuit, either before or after achieving your goal.

I'm not arguing against wealth here, I believe wealth is a wonderful thing. However greed, especially after needs are met, and the pursuit of more and more actually leaves one feeling depleted, rather than fulfilled. This doesn't even mention the untold damage caused by addiction to money and the current system of cocaine-capitalism.

joshstrange•about 1 hour ago
Oh! Well if it’s going to difficult/inconvenient for the ultra wealthy then maybe we should just not do it /s

Dear god, how much wasted space to whine about how “who will think of the rich people?”.