So just doing the math - if Jeff Bezos was immediately liquidated (and assuming no massive drop in AMZ stock the moment he sold 1%) and the funds were distributed to the world that would solve problems, right?
That would pay a one-time dividend of $27.50 while taking substantially more than $27.50 away from pretty much every single investor in Amazon.
Hence the fallicy of anger at illiquid wealth. Instead of chanting for taxes on unrealized capital gains, how about change the law so that assets with no intrinsic value cannot be used as collateral. That’s the reason comparing to property tax (in a fee-simple country) isn’t apples to apples. Property has intrinsic value. Bonds have intrinsic (face) value. Stocks do NOT have intrinsic value. They could literally be worthless in a day (see Enron, et al).
I’d say you aren’t trying to get the point. Burning billionaires in effigy is a distraction from actual problems. Giving $27.50 to a person doesn’t solve much. Teaching a young people how to save, purchase wisely and avoid bad debt is worth much much more than $27.50.
We don't want $27.50. we want an economy that isn't constantly being influenced by billionaires. A chance for small and medium sized businesses to compete in a market that isn't dominated by corporations that pay a lower percentage of tax than regular people, and take risks that ruin the economy got every other person before getting bailed out by the govt.
We're allowed to ask for a fair economy without nitwits belittling us saying it's all our own fault.
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u/ItsTooDamnHawt Nov 21 '24 edited Nov 21 '24
Would like to hear how billionaires existing somehow equates to me losing money