this post was submitted on 05 Dec 2024
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How's public trading supposed to reduce wealth accumulation? Tesla is publicly traded but Elon still had enough money to buy and ruin Twitter.
Ultra high taxes on unrealized gains. There are no taxes on unrealized gains presently, nor a wealth tax. Which is why if his wealth increases 2x, his taxation... just does not, unless Tesla pays him dividends or a salary.
If Elon had to live with a, say, 99% tax rate on anything above a billion dollars and it included his Tesla stock not just money he has for real, he'd be forced to sell, or go to jail for unpaid taxes.
Why 99% and not 100%? Just to mock them.