Jimmy Higgins
Contributor
- Joined
- Jan 31, 2001
- Messages
- 53,361
- Basic Beliefs
- Calvinistic Atheist
We can detect gravitational waves in the fabric of spacetime, but we are powerless to devise a method to monetize tax revenue from held stock wealth?And how do you propose that could be done in practice?We need to eliminate all billionaires by taxing them down to size.
Let's say you want to confiscate all wealth >$1G. Most of Bezos' wealth is in Amazon stock. So does the federal government now own Amazon or does this expropriation trigger a mandatory sale? The latter would collapse not only the value of Amazon stock but every single company that any billionaires have a significant stake in. It would lead to chaos.
It is admittedly a newer problem, but are you really suggesting it isn't possible?