• Chriskmee@lemm.ee
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    1 year ago

    So what? We should take away that ownership because they can leverage it? Also the same people suggesting we tax wealth like this want to also close those “loopholes” of low interest loans on shares.

        • Enma Ai@lemmy.world
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          1 year ago

          Taking away (extreme) wealth. There’s no reason one person should have that much. There’s countless better ways to use that money/wealth than for one persons extravagant lifestyle. And even if they don’t have an extravagant lifestyle, what are they gonna do with it? Doubt they will build infrastructure out of good will with it.

          • Chriskmee@lemm.ee
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            1 year ago

            So take away ownership of a company just because it’s too successful? That wealth is mostly in company ownership, so are you really suggesting we steal away legitimate ownership in successful companies?

            • someacnt@sopuli.xyz
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              1 year ago

              I mean, why do we have 'too big to fail" companies? Isn’t that counterproductive to having a robust society?

              • Chriskmee@lemm.ee
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                1 year ago

                That’s how you compete in the world. Imagine for a second if the US didn’t bail out the automotive companies, I think Ford would have survived, but that’s about it, no more American competition for them. If they also failed, then we might not have any US car companies, how bad would that have been for our society?

                Or the banks, could you imagine how screwed we would be if the whole baking system collapsed? Even the small banks were in trouble, it’s not a solution to just split them all up.

                • Dark_Blade@lemmy.world
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                  1 year ago

                  This is why I don’t really ‘get’ the perspective that a lot of Lemmings seem to have. Sure, it’d be nice to live in an ideal society of some sort, but that’s not really possible in a world where money is everything.

            • Enma Ai@lemmy.world
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              1 year ago

              Yes. Fuck Capitalism.

              It’s not stealing their legitimate ownership. They don’t have legitimate ownership.

                  • Chriskmee@lemm.ee
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                    1 year ago

                    Because they didn’t make the business. If you started a business would you be happy to give away that ownership to every new employee you hire? If so, that’s your choice, have fun.

                • kugel7c@feddit.de
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                  1 year ago

                  The laws underpinning and protecting their ownership, as well as the institutions enforcing them, are historical holdovers and were never truly legitimised. They also largely go against justice, freedom and the pursuit of happines, which they largely champion as their goals.

                  At least you could think about it that way.

                  • Chriskmee@lemm.ee
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                    1 year ago

                    I’m not seeing how that makes any of it illegitimate. If you make something you own it, right? Why should a business be any different?

    • TurnItOff_OnAgain@lemmy.world
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      1 year ago

      No, they can keep them, but those loopholes need to be closed. Maybe don’t allow using ownership of a company as collateral for a loan? If you want to use your massive stored wealth as money you need to sell it. You want to get it back buy it. I’m not a finance or policy person, but there has to be a way to make these people pay the propert tax on their wealth.

      • Chriskmee@lemm.ee
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        1 year ago

        So they can keep their ownership, but we are going to remove their way to loan money against it, and still expect them to pay billions in taxes without giving away any ownership? How do you expect them to pay billions in taxes when the only billions they have in value is company ownership? You are forcing them to sell company ownership to pay this ridiculous tax.

        • Dark_Blade@lemmy.world
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          1 year ago

          To be fair, if billionaires could no longer use their stocks as collateral to borrow insane amounts, maybe they’d have to give themselves taxable salaries.

          • Chriskmee@lemm.ee
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            1 year ago

            I don’t think the government would ban the practice, since the middle class uses the same thing for stuff like reverse mortgages. I can see them limiting the amount though.

            If they did ban it though, billionaires would still be billionaires, they probably don’t need much of an actual salary when most of their stuff is paid for.