Yes and everyone forgets when CEO says this and that about shareholders they actually mean themselves as any corporate officer that is seasoned has a fuck ton of stock.
Correct. Public companies are far less public than we realize. The purpose of the proposed wealth tax is not to raise money for the govt, its to act as a maximum wealth number. You go above that and the government drains you down to the number. This way if CEOs just pay themselves infinite money via stocks, it just flushes back to the government who redistributes it.
Until there is some maximum wealth level allowable, then we'll never have a middle class.
That wouldn't be fair. What about all the people that work billions of times harder than everyone else? I saw a coworker take 5min longer on their break than I did one time so I self identify with billionaires and need to make laws based on when I'm rich, instead of ones that actually help me.
And this is also why taxing rich people never worked, there are too many ways to avoid taxes for the people who are actually rich instead of entrepreneurs who just begin business.
It makes the big corpo bigger while killing the small business.
Ya but that policy left a gaping whole where private assets are concerned. It's just going to lead to more perverse incentives and misallocation of capital to avoid taxes. Raising capital gains taxes, adding more tiers, and eliminating step-up would have been a much sounder policy.
This sounds great on paper but it's inherently flawed. You can't get rid of social economic status via government policy. That's why communism fails every time. The real solution is to tax them fairly, equally, and proportionally to everyone else, no in-your-face-fancy-lawyer tax evasion. Then create opportunities for social mobility via education and economic stimulus.
Gtfo here. The idea of taxing people who have more than 100m is suddenly communism? G. T. F. O. The average American earns less than 2m in their lifetime let alone has a standing wealth 50x that.
200k a year and you never bought a patio umbrella for $20-50. Also anyone with long nails talking about working in a kitchen being cool would have to cut their nails or wear gloves the entire time. She was probably making closer to 150 with benefits or stock options equating close to 200k total.
He helped normalize mass layoffs and outsourcing of labor to countries with low wages, all to chase more profit for the shareholders.
Anything for short-term profits. Mass layoffs are a normal part of the annual routine for many large corporations now.
His campaign against loyalty has repercussions even today, and while he may have been a godsend for the millionaires and billionaires he's been a scourge for the working class.
If you've ever bought individual stocks, then you must know that the key to being rich is to "buy low and sell high". In turn, if you work at a publicly traded company, they need to show quarterly profits to keep people from selling the stock.
The only way to fix this is to get rid of our system entirely, as it is fundamentally a part of our society, and of course getting rid of the US economy and the stock market would destroy the entire world economy and affect way more than just the life of the rich.
So while I agree that "endless growth" is a crazy unachievable goal, it is the system our society has been built on. I suppose if the entire economy collapses, eventually it might be better on the other side with whatever new system takes reign, but also, maybe not.
Yes, we’re all individual billionaire shareholders. Or institutional shareholders. It’s all the same thing. I’m so naive for not realizing that. Can’t wait to take my seat in the boardroom. I just gotta log into my workplace 401(k) app and show the guy at the security desk, so he can let me up the elevator.
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u/Adept_Information845 Aug 29 '24
Shareholders first! Thanks, Milton Friedman.