Coinbase lays off around 1,100 employees

Re:Coinbase lays off around 1,100 employees by cavisne on Tuesday June 14, 2022 @04:11PM (#31745394)

To pay the wealth tax you would need to reduce your ownership in the company to pay the tax until eventually you are just another minor shareholder with a leadership position (for now at least). And eventually is not long (under Warren's proposal it would be ~5 years before jeff bezos was no longer a controlling shareholder).

So the question really becomes, will the outcomes for the company be as good when no one leading it owns it or benefits directly from its success.

Sounds familiar!

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Re:Coinbase lays off around 1,100 employees by toomanyrichies on Tuesday June 14, 2022 @04:22PM (#31745525)

Is wealth tax paid on unrealized gains? If not, these billionaires would only pay the wealth tax when they liquidate their position in the company they founded. Until then, it's just paper wealth and not taxed.

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Re:Coinbase lays off around 1,100 employees by cavisne on Tuesday June 14, 2022 @05:43PM (#31746442)

Proposed wealth taxes have been on unrealized gains.

Without doing that it’s pointless, billionaires even today never realize gains and just rotate through loans backed by their shares.

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