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Vomit-inducing article about Jeff Bezos’s obscene wealth
(luxurylaunches.com)
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this post was submitted on 20 Dec 2024
153 points (93.2% liked)
Mildly Infuriating
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This isn't “vomit-inducing”, it's rage-inducing.
If someone can give away 99% of their hoarded wealth, and still be a MULTI BILLIONAIRE, you know that the global community needs to come together and put caps on personal wealth. Taxing them isn't enough.
Not all wealth is a problem. His yachts and their maintenance isn't actually the problem here: that money was spent. That money put shipbuilders and maintainers to work. The assets he gets from spending isn't the problem.
The problem is his registered securities: his stocks, bonds, and other financial assets. These assets aren't just wealth. They generate wealth by taking it from the working class.
What we need is a tax on all registered securities. We will exempt the first $10 million held by a natural person. This tax is payable in shares of the security. IRS liquidators will offer these shares in small lots, comprising no more than 1% of total traded volume. This minimizes the effect of the sale of these shares on their value.
The only way to keep those shares untaxed is for a natural person to hold them. They will have greater value in the hands of the working class than the ultra-rich. This tax structure will shift ownership of companies toward the working class.
Every McDonald's employee should be compensated, in part, with shares in the company.