0.1% of a billion dollars is still 10m. Since we’re on track to see our first trillionaires soon, I’d argue we need a 100% tax bracket as well. 0.1% of a trillion is 10 billion.
We need to change how stocks work. Separate investing in a company and buying control. That way we can tax unrealized capital gains. Put a 100M$ cap on personal wealth. Since the argument against it is always that people will lose control of companies if they’re forced to sell stock. Either that or ban stock as a medium of anything other than investing in the company. No using it as collateral, no trading it, just straight back to the company for what it’s worth.
What we need is a controlling asset tax, 99.9% tax on the value of assets controlled beyond $100m
0.1% of a billion dollars is still 10m. Since we’re on track to see our first trillionaires soon, I’d argue we need a 100% tax bracket as well. 0.1% of a trillion is 10 billion.
It’s 1m.
You’re correct, I multiplied by .01 instead of .001.
Wouldn’t matter, 99.9 is enough to trash these fortunes within a few years.
We need to change how stocks work. Separate investing in a company and buying control. That way we can tax unrealized capital gains. Put a 100M$ cap on personal wealth. Since the argument against it is always that people will lose control of companies if they’re forced to sell stock. Either that or ban stock as a medium of anything other than investing in the company. No using it as collateral, no trading it, just straight back to the company for what it’s worth.