Tim Sweeney: Tax bill would likely end founder control of independent companies

Re:Tim Sweeney: Tax bill would likely end founder control of... by d23 on Wednesday October 27, 2021 @06:48PM (#29019993)

It still seems problematic. Even if my company goes public, if I haven't actually sold the shares and made any money, why should this be taxed? If there are loopholes that let the founder avoid those taxes at sale time, fix those, but otherwise why should we effectively take away ownership of a company just because someone has built it up successfully.

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Re:Tim Sweeney: Tax bill would likely end founder control of... by dsizzle on Wednesday October 27, 2021 @06:59PM (#29020077)

One loophole is the step-up basis that applies when the owner dies. Not sure why that wasn't targeted instead (maybe because the current plan produces revenue more quickly?).

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Re:Tim Sweeney: Tax bill would likely end founder control of... by tedunangst on Wednesday October 27, 2021 @07:29PM (#29020380)

"Billionaire tax" plays better than "death tax" so we get tax policies that fit into 30 second commercials, not those that make economic sense.

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Re:Tim Sweeney: Tax bill would likely end founder control of... by abeyer on Wednesday October 27, 2021 @07:58PM (#29020673)

So why not a "dead billionaire tax"? The heirs to fortunes seem likely to get even less sympathy than the ones who actually built them.

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Re:Tim Sweeney: Tax bill would likely end founder control of... by Msw242 on Wednesday October 27, 2021 @07:57PM (#29020659)

Reads like a cash grab to me.

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