Tech billionaires have raised more than $340m to defeat Prop 40, a one-time 5% wealth tax that will fund healthcare and education
  • krisevol@lemmus.orgEnglish
    23·
    9 days ago

    But it’s a wealth tax. What do you do if their wealth goes down before if realized into cash? So you refund them?

    What do you do when they don’t have the cash to pay the tax? Force liquidations? Who buys the assets? Blackrock or china?

    • MinnesotaGoddam@lemmy.worldEnglish
      9·
      9 days ago

      There are plenty of ways to set up a taxation system to deal with unrealized assets. And as far as what to do when they don’t have the cash, why should we treat billionaires different? If they can’t pay immediately, they can set up an installment plan.