Most of their billions is ownership in companies they grew into what they are today. It’s not like they have billions to spend, it’s that their ownership is worth billions according to the market.
So what? We should take away that ownership because they can leverage it? Also the same people suggesting we tax wealth like this want to also close those “loopholes” of low interest loans on shares.
Taking away (extreme) wealth. There’s no reason one person should have that much. There’s countless better ways to use that money/wealth than for one persons extravagant lifestyle. And even if they don’t have an extravagant lifestyle, what are they gonna do with it? Doubt they will build infrastructure out of good will with it.
So take away ownership of a company just because it’s too successful? That wealth is mostly in company ownership, so are you really suggesting we steal away legitimate ownership in successful companies?
I couldn’t imagine spending $1 billion in my entire life, let alone 3-4.
Most of their billions is ownership in companies they grew into what they are today. It’s not like they have billions to spend, it’s that their ownership is worth billions according to the market.
True, but that ownership gives them access to very low interest loans that they then use as spending money and don’t have to pay taxes on it
https://www.businessinsider.com/american-billionaires-tax-avoidance-income-wealth-borrow-money-propublica-2021-6
So what? We should take away that ownership because they can leverage it? Also the same people suggesting we tax wealth like this want to also close those “loopholes” of low interest loans on shares.
Yes.
Yes to taking away wealth or the way to leverage it?
Taking away (extreme) wealth. There’s no reason one person should have that much. There’s countless better ways to use that money/wealth than for one persons extravagant lifestyle. And even if they don’t have an extravagant lifestyle, what are they gonna do with it? Doubt they will build infrastructure out of good will with it.
So take away ownership of a company just because it’s too successful? That wealth is mostly in company ownership, so are you really suggesting we steal away legitimate ownership in successful companies?
Yes. Fuck Capitalism.
It’s not stealing their legitimate ownership. They don’t have legitimate ownership.