Re:Millionaires call for an emergency tax on billionaires
by ajsnigrutin on Friday August 13, 2021 @07:16PM
(#28176024)
So let's say i have 1000 bitcoins... bought them for $0.01 a piece, and held them... now the price is around 40k.. so I have to sell half of them to keep only the $20M? Tomorrow the price will be $15k, so i'll be below again... what do I do now? The day after tomorrow they might be 100k.. sell more?
I create a bakery... it's successfull, it grows to 21M... now I have to sell a part of it... and it grows.. sell another part.. it grows.. sell another part.. what then? What if the second coowner bought a half of it, and the price has gone over 41M, do we now both have to sell a part of it? What if it loses value?
What if you own a farm somewhere, with many hectares of nice land, and someone decides to build a railway and a highway there, and that land becomes worth many millions overnight?
Hard limits on wealth are not practical. Taxing private persons for taking out and using that wealth is the solution.
I create a bakery... it's successfull, it grows to 21M... now I have to sell a part of it... and it grows.. sell another part.. it grows.. sell another part.. what then? What if the second coowner bought a half of it, and the price has gone over 41M, do we now both have to sell a part of it? What if it loses value?
What if you own a farm somewhere, with many hectares of nice land, and someone decides to build a railway and a highway there, and that land becomes worth many millions overnight?
Hard limits on wealth are not practical. Taxing private persons for taking out and using that wealth is the solution.