| ▲ | ceejayoz 9 hours ago |
| > So what does you practical utopia look like in real terms. When you hit a hundred billion in net worth, you get a nice solid gold plaque that says "I won capitalism", you get an attaboy from the UN, and we start taxing the shit out of wealth over that cap. Adjust periodically for inflation. (Do that for minimum wage while we're at it.) |
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| ▲ | hparadiz an hour ago | parent | next [-] |
| What would actually happen is tax revenue would drop because the guy would hit the limit and quit followed by the company collapsing without anyone leading it. Commies will literally never learn. |
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| ▲ | ceejayoz an hour ago | parent [-] | | > followed by the company collapsing without anyone leading it Musk was AWOL running the US government for months without any apparent impact. Even after he got back to work, he's running enough companies he's clearly part-time on at least some of them. Jobs died. Bezos and Gates stepped down. Things continued! > Commies will literally never learn. Yeah, they're goofy, for the same reasons the extreme libertarian anti-tax folks are goofy. Each pretends the complexity of humanity can just be waved away. |
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| ▲ | IncreasePosts 9 hours ago | parent | prev [-] |
| But these ultra rich people don't have a hundred billion dollars in a bank account, they just own a percent of a company. So what you're really saying is a person isn't allowed to own a certain fraction of a company once it reaches a certain valuation. |
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| ▲ | atq2119 8 hours ago | parent | next [-] | | Yes, you got it! It's because while for some people there may be jealousy involved, many more have realized or are now realizing how much power the ultra rich have, and how bad that is for our societies. Once a company becomes large enough, it becomes so influential in society that control of it must be made more democratic. I don't think anywhere has figured out quite the right way to go about it yet, but it's clearly the right goal. Some countries require employee representation on the boards of large companies. | | |
| ▲ | dartharva 7 hours ago | parent [-] | | And this would solve the problem how? Bill Gates owns less than 1% of his company, but now Microsoft under Private Equity is several times more evil, not less. | | |
| ▲ | inigyou 6 hours ago | parent [-] | | Why do you think that democratic control means private equity? | | |
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| ▲ | ceejayoz 8 hours ago | parent | prev [-] | | Sounds great to me. I find these special founder-class shares that completely insulate folks like Musk and Zuck from their actual investors to be deeply problematic. |
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