A Boring Dystopia

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7 years ago there were no billionaires worth more than $100 billion - today there are 18! (sh.itjust.works)

submitted 1 month ago* (last edited 1 month ago) by [email protected] to c/[email protected]

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Billionaires 7 years ago:

https://web.archive.org/web/20171004002738/https://www.bloomberg.com/billionaires/

Billionaires today:

https://www.bloomberg.com/billionaires/

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[–] [email protected] 20 points 1 month ago (1 children)

1% tax on all registered securities, payable in shares of those securities. The SEC just confiscates 1% of every position, and conveys them to an IRS liquidator. The liquidator sells them off in small lots over time, comprising no more than 1% of total traded shares. Securities with negative values are returned.

Once completely phased in, natural persons will be exempt on their first $10 million in registered securities. Corporate-owned securities will not be exempt: the are taxed from their first share.

We tax only the problematic portion of their wealth: their wealth-generating assets. We auction those assets off to the general public.

[–] [email protected] 8 points 1 month ago

You sound like you know what you're talking about, and convey it with spectrum-like precision. I throw my hat and my heart entirely to making your dream come true. Hoo, hoo (hoo-oo-hoo)