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The Bob Cesca Podcast: OK Boomer

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sagehen11/13/2019 1:51:03 pm PST

re: #35 KGxvi

I’m curious how they do the math. I suspect that many of those people would have had to sell stock to pay the wealth tax which would likely have driven stock prices down, further reducing their net wealth. And then there’s the question of what those sales would have meant for the larger economy - as in, what if Gates or Bezos or Walton or whomever had to sell enough stock that they lost their controlling interest in the companies they founded/owned/ran and institutional investor types were able to gain control of the board of directors?

They wouldn’t have had to sell any stock; they’d just have issued dividends every year (which they haven’t always). Those dividends would have spread the wealth more broadly, and increased a bunch of other people’s taxes too.