I mean billionaires have stocks that are worth a billion. They don’t have a billion dollars. So you are essentially taxing money that doesn’t exist. So where does the money come from?
You tax the money they borrow against their stock holdings as income, and allow them to deduct money used to pay back those loans. You could also tax a percentage of their wealth, which they can pay by selling some stock.
So you want every billionaire to have to sell stocks every year, on evaluations they don’t control.
Guess you want everyone 401k to go belly up which stocks crash, and products become more expensive because companies will just pass the cost down to the consumer. The money cones from somewhere, and it would be the buyers of these stocks. Which is us.
I mean billionaires have stocks that are worth a billion. They don’t have a billion dollars. So you are essentially taxing money that doesn’t exist. So where does the money come from?
You tax the money they borrow against their stock holdings as income, and allow them to deduct money used to pay back those loans. You could also tax a percentage of their wealth, which they can pay by selling some stock.
So you want every billionaire to have to sell stocks every year, on evaluations they don’t control.
Guess you want everyone 401k to go belly up which stocks crash, and products become more expensive because companies will just pass the cost down to the consumer. The money cones from somewhere, and it would be the buyers of these stocks. Which is us.