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

Re:Tim Sweeney: Tax bill would likely end founder control of... by vburg on Wednesday October 27, 2021 @10:31PM (#29021661)

Buffet/Gates/Bloomberg/Soros/Cuban have been saying for years the rich need to pay more taxes. Propose a tax increase that actually hits the super-rich and the screaming begins. Guess all along they meant the "other rich", anyone making 200k.

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Re:Tim Sweeney: Tax bill would likely end founder control of... by hedora on Wednesday October 27, 2021 @10:38PM (#29021720)

In the Twitter thread, Sweeney proposes a progressive capital gains tax maxing out at 75%. It would hit him personally, but still allow him to run his company. He’s not complaining about the magnitude of the tax. He’s complaining about the mechanism.

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Re:Tim Sweeney: Tax bill would likely end founder control of... by wolverine876 on Wednesday October 27, 2021 @10:39PM (#29021736)

He's 'proposing' something he knows is politically impossible. I predict he will find a way to run the company and make billions of dollars.

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Re:Tim Sweeney: Tax bill would likely end founder control of... by gok on Wednesday October 27, 2021 @10:52PM (#29021839)

No, it would never hit him in a meaningful way. He has no intention of ever realizing most of his capital gains.

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Re:Tim Sweeney: Tax bill would likely end founder control of... by souplesse on Wednesday October 27, 2021 @10:42PM (#29021753)

I found quotes from Mark Cuban, but I’m not seeing any comments on this proposal from Buffett/Gates/Bloomberg/Soros. Can you share your sources?

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