A 1.5% annual stock dilution tax on corporations with revenue over $100M would raise over $1.4 trillion a year — enough to send every American about $365 a month, automatically.
Personally, I’d like to abolish the stock market altogether. But this is an attractive, actionable policy
When has this kind of direct taxation through stock dilution been tried historically? I don’t see any history to recognize here. The article explains how it couldn’t be dodged like other taxes, so historical wealth taxation isn’t relevant.
I did read it, did you? It takes 1.5% of all companies in the form of stock or ownership, that are big enough, and gives it the citizenry every year. Seizes assets and give it to citizens. Then it gets sold to…whoever the fund manager decides, and it is all easily corruptible and that is exactly what would happen if it ever managed to pass, which it won’t.
It isn’t effective enough to be worth doing. I’m not chasing perfection, as you keep insisting, just recognizing history.
When has this kind of direct taxation through stock dilution been tried historically? I don’t see any history to recognize here. The article explains how it couldn’t be dodged like other taxes, so historical wealth taxation isn’t relevant.
When has seizing assets ever been tried? Constantly.
You really should read the article. This isn’t that.
I did read it, did you? It takes 1.5% of all companies in the form of stock or ownership, that are big enough, and gives it the citizenry every year. Seizes assets and give it to citizens. Then it gets sold to…whoever the fund manager decides, and it is all easily corruptible and that is exactly what would happen if it ever managed to pass, which it won’t.
No, it gets sold gradually onto the open market.
You have too much faith the integrity of this system can be maintained.
I’m just open to novel mechanisms.
Sure.