Re:Why Markets Boomed in a Year of Human Misery
by lotsofpulp on Sunday January 03, 2021 @11:25AM
(#25622690)
How and who do you determine values for assets that aren’t readily traded, such as intellectual property or equity in a private company?
I know how real estate and tangible/intangible asset values are assessed for property taxes purposes, and the problems with that are enormous, not to mention the avenues for fraud and increased paperwork. There are definitely winners and losers there based on your level of influence in society.
How and who determines what “stocks” have societal value?
It’s really easy to say these things, but I have yet to come across someone with even a half baked plan to implement them in a fair way. For example, currently startup employees get screwed with the way taxes work on options, where they owe significant taxes for nebulous gains that they may or may not benefit from.
Also, at that point, you shure as hell diversify your assets, instead of having them all in a single privately held company.
That's why we need a transaction tax on stock combined with tax breaks on stocks that have societal value, together with a ban on all derivatives. Stock markets need to be first order long term srategy crowdfunding again like they were originally invented as. Otherwise computers will just chase the next peofitable microsecond and CEOs will juse try to optimise the next quarter.