You really don’t want a If You Can Read This You’re In Fart Range Shirt wealth tax like that. Selling off entire segments of the U.S. economy to foreign powers is a really, really, bad idea. Like the ’80s but worse, at least the Soviets weren’t the buyers then. Because he would sell a smaller part of the total company each year. He would still have over half of his original stock after 27 years. He could retain control of the company for decades if he wanted, he just wouldn’t get as much of the profit from it growing in value. Also, maybe companies with wealth comparable to nations shouldn’t be controlled by one person. If you inherit the land and nothing else, you still have to pay property taxes.
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Property taxes in If You Can Read This You’re In Fart Range Shirt most jurisdictions are already a form of wealth tax whose burden overly falls on the middle class and poor. Why should anybody be taxed on unrealized gains? If he pays taxes on what he owns right now, and then the value of the stock drops in half how is that fair? How is he supposed to pay the taxes on what he owns, but hasn’t sold, without selling it? Should the government just take ownership of some amount of his shares every year? How long should they hold those stocks before selling? Should they just hold all the shares they’ve collected from all the people until they have a controlling interest and it becomes publicly owned?
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