A wealth tax will go after that, and that will absolutely make sense.
It absolutely doesn’t make sense to charge a tax of real/actual money on a value that’s theoretical.
They can sell the shares they have in the companies, and that will make them think twice before cheating the system to grossely exagerate the value of their companies.
It’s irrational to assume “cheating the system to grossely [sic] exagerate [sic] the value of their companies” of every entity valued at more than an arbitrary $X.
It absolutely doesn’t make sense to charge a tax of real/actual money on a value that’s theoretical.
It’s irrational to assume “cheating the system to grossely [sic] exagerate [sic] the value of their companies” of every entity valued at more than an arbitrary $X.
For example, Costco is a company worth hundreds of billions of dollars, and yet it’s famous for how generous it is both to its customers and to its workforce. Its founder left the company a billionaire himself.
“The stuff you own is now too valuable, so we get to steal it from you.”
No.