1. Capital gains tax is already essentially optional for the richest now with various tricks. Of course taxing people is difficult, are you saying because it’s hard let’s not bother?
2. Where will the capital go (all the best investments are in the US), if this happens lots of great businesses will be available to buy at a discount to people with smaller than $100m stock portfolios
3. Potentially true but I would still set up my business in the US and just pay the tax, if I make $100m it’s $20m for the government and I rate that as a great deal to be honest.
4. Why is a one off 20% tax going to lose founders control, this is only about companies post IPO.
5. IANAL are you?
6. If the rich continue to be able to accumulate wealth without paying taxes on it forever I think that is the road to serfdom personally. Taxation of the rich will make everyone better off. I pay over 50% tax in Europe, maybe if the rich were paying their share this could be reduced!
2. Where will the capital go (all the best investments are in the US), if this happens lots of great businesses will be available to buy at a discount to people with smaller than $100m stock portfolios
3. Potentially true but I would still set up my business in the US and just pay the tax, if I make $100m it’s $20m for the government and I rate that as a great deal to be honest.
4. Why is a one off 20% tax going to lose founders control, this is only about companies post IPO.
5. IANAL are you?
6. If the rich continue to be able to accumulate wealth without paying taxes on it forever I think that is the road to serfdom personally. Taxation of the rich will make everyone better off. I pay over 50% tax in Europe, maybe if the rich were paying their share this could be reduced!