I would much prefer a 'cash on hand' tax that would tax yearly the cash on hand that exceeds $1B. That private companies can just sit on all this capital rather than putting it to work in the economy is a real problem. It harms GDP and it harms working class people.
By some estimates its $325B[1]. If we forced companies to invest that cash in new ventures rather than sit on it, it would be a win.
By some estimates its $325B[1]. If we forced companies to invest that cash in new ventures rather than sit on it, it would be a win.
[1] https://www.investors.com/etfs-and-funds/sectors/sp500-compa...