No…see you bought the stock. You don’t have enough of a hoard for us to worry about not to mention the value of that stock will be used in the economy more than likely when You retire or need it.
How it will work is you are an early owner or investor and your hoard pile is over $100 million. Now when your hoard pile goes up 7% you have $107 million. We tax you on your wealth over $ 100 million. Let’s say 25% tax on that $7 million if you choose to hold onto it. Your wealth tax bill will be $1,750,000 that year (plus minus other factors). You can choose to sell your $7 million and it is currently taxed at 18% for realized tax gains if you held onto the stock for over a year or income % tax rate if short term trade.
What this does is increase the public ownership in companies as there is more stock for everyone and decreases the hoarding of companies by the wealthy. It also makes stock prices more honest so people don’t hoard the stock count to inflate prices.
Let’s say you own other assets. A house. It is just like property tax if you can’t afford the tax bill you don’t own the house or…your house isn’t worth that much. If you have tons of homes you may have to sell it to the people rather than rent. And if your hoard of assets is in other random collectibles you pay the tax bill to maintain your collection or share the ownership with others.
As for private companies that will be an interesting thing. I would say when your company is worth $100 million you have to divest the ownership to others. But idk. Legalize will figure it out we can also have exceptions for things like house value or other random things
Sure. People of that skin about 15 million people for 400 year built this country without being able to reap any rewards for their contributions. Then I took another 80-99 years to give those people equal rights that we still struggle with today. By the time they became equal everything was owned and they were already cast into poverty. Until we see equal outcomes from people of that skin color as the average majority they deserve as much help as we can give them. Honestly they deserve reparations. But instead they only get scholarships until the college population equals that of the racial makeup of this country. Oh yeah they qualify for college just they wouldn’t get accepted because the institution is racist or with out the help the kids will have to potentially put their family at risk with huge loans.