On what? You force the company to break up and liquidate so they can pay taxes?
You force the founder to give up their private property just because it is valuable?
Remember these are not dollar bills in the founders bank account. It is just the company they created is now very valuable. It does not mean it is liquid.
Are you proposing changing inheritance laws or are you proposing forcing companies to sell their stock in a firesale to be in accordance with the IRS? Be clear in your propositions please.
I agree these are partisan and bad developments. It is also unrelated to the question at hand about how to prevent people from gaining over 100m which people have been able to do under the heretofore non-partisan irs
On the business income, on the sale of shares, on their wealth, on loans, on estate and inheritance, etc.
Breaking up the company is another avenue, it could increase competitiveness and make the markets freer, open up more options for employees to shop around for employer, etc.
Raising minimum wage, stronger overtime rules, paid family leave, mandatory paid vacation and sick leave, non-compete restrictions, profit-sharing requirements, and other regulation that favors the employee is yet another avenue...
On what? You force the company to break up and liquidate so they can pay taxes?
You force the founder to give up their private property just because it is valuable?
Remember these are not dollar bills in the founders bank account. It is just the company they created is now very valuable. It does not mean it is liquid.
Owners being able to lock the value generated by workers solely within their family for generations has been tried. It ends in feudalism.
Are you proposing changing inheritance laws or are you proposing forcing companies to sell their stock in a firesale to be in accordance with the IRS? Be clear in your propositions please.
Progressive taxation, taxes on CG, inheritance taxes, and a well funded and non-partisan IRS.
None of these will prevent someone from gaining more than 100M. That is what is under discussion. I am not against more progressive taxes.
Which party is the IRS partisan towards? What do you mean by partisan?
https://www.pbs.org/newshour/politics/experts-warn-trump-imm...
https://www.wsj.com/politics/policy/trump-irs-investigations...
I agree these are partisan and bad developments. It is also unrelated to the question at hand about how to prevent people from gaining over 100m which people have been able to do under the heretofore non-partisan irs
What do you mean by “is”? What do you mean by “you”? By clear.
It doesn’t end in feudalism. It ends in guillotines.
> On what?
On the business income, on the sale of shares, on their wealth, on loans, on estate and inheritance, etc.
Breaking up the company is another avenue, it could increase competitiveness and make the markets freer, open up more options for employees to shop around for employer, etc.
Raising minimum wage, stronger overtime rules, paid family leave, mandatory paid vacation and sick leave, non-compete restrictions, profit-sharing requirements, and other regulation that favors the employee is yet another avenue...
There are ways if the will is there.
> You force the founder to give up their private property just because it is valuable?
That's how taxes work.
The straightforward solution to this is to allow the tax to be paid in kind, to be paid into a sovereign wealth fund.
Owe 1M$ in taxes and have ownership stakes in a company worth 1B$? Fine, transfer a 0.1% share of ownership in the company into the SWF.