Rockafeller’s 1bil is the equivalent of 30bil now so Elon is > 33x richer than he was. We need to tax stock bonuses and payments. You get paid in stock, it’s income taxed at the top rate as either cash value at time of issuance or the equivalent % in stock to the government to be sold over the next 12 months. Loans backed by stocks or non primary residences should be taxed as capitol gains as well. I’m sure considerations for running it through a company need to be addressed to close some loopholes.
Rockafeller’s 1bil is the equivalent of 30bil now so Elon is > 33x richer than he was. We need to tax stock bonuses and payments. You get paid in stock, it’s income taxed at the top rate as either cash value at time of issuance or the equivalent % in stock to the government to be sold over the next 12 months. Loans backed by stocks or non primary residences should be taxed as capitol gains as well. I’m sure considerations for running it through a company need to be addressed to close some loopholes.