saghm
Joined 10 years ago
Joined 10 years ago
"Companies often act dumb, and therefore we should charge them less in tax" is not a particularly compelling argument to me.
Amazon currently has close to 11 billion shares of stock (https://www.macrotrends.net/stocks/charts/AMZN/amazon/shares...). Do you seriously believe that 1/11,000,000,000th control over Amazon in terms of voting rights is worth $240? A single vote is indistinguishable from meaningless.
I guess I could like, get a shopping cart and spent an extra 40 minutes hauling stuff back and forth every time we wanted groceries, but even that would be somewhat dependent on weather; a delivery driver is not going to have to walk 40 minutes in heavy rain and can bring frozen goods in an amount of time that doesn't result in them being soggy or completely melted messes by the time they reach us.
When a company buys stock, the money comes from the company. You're literally saying the same thing as me and telling me I'm wrong. It's not worth it for me to read beyond that because it's not clear you're reading what I'm saying properly.
The issue to me is that the division between "money companies get from selling their shares" and "money companies get from selling their products" is artificial; whether it gets taxed differently is a procedural issue, not something that inherently defines what "value" is. When the value of something is only from selling it again in the future, it's inherently only valuable as long as there's someone else to pass it onto to sell it again later. Sticking the company in the middle of passing it along doesn't magically change whether it's sensible or not. That's what I mean by "effectively a Ponzi scheme", even if it's not strictly one in the definitional sense. The same arguments for why a Ponzi scheme is undesirable apply.
If I have to use a machine that isn't running Arch, I'm having a bad day
[ my public key: https://keybase.io/saghm; my proof: https://keybase.io/saghm/sigs/DPNipzU12DFt2TdiKBXbNoK5ONvpotGxHAeUPWZvCi8 ]