grte@lemmy.ca to Canada@lemmy.ca · 9 months agoLet’s Set a Maximum Wage for the Rich | The Tyeethetyee.caexternal-linkmessage-square140fedilinkarrow-up1612arrow-down148
arrow-up1564arrow-down1external-linkLet’s Set a Maximum Wage for the Rich | The Tyeethetyee.cagrte@lemmy.ca to Canada@lemmy.ca · 9 months agomessage-square140fedilink
minus-squaredangblingus@lemmy.dbzer0.comlinkfedilinkarrow-up2·9 months agoRight. So when they sell, they’ll get taxed. You can’t spend shares.
minus-squaremaxprime@lemmy.mllinkfedilinkarrow-up3·9 months agoThe problem is that’s basically what billionaires do, though. They take out loans with their shares as collateral. So on paper they have huge debt, but it’s minuscule compared to their wealth.
Right. So when they sell, they’ll get taxed. You can’t spend shares.
The problem is that’s basically what billionaires do, though. They take out loans with their shares as collateral. So on paper they have huge debt, but it’s minuscule compared to their wealth.