this post was submitted on 27 Mar 2025
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Are luxury items not already taxed more? AFAIK they are in most countries.
That will tank the share market, close down industries and cause even more unemployment and widespread misery.
Honestly, if they are, then I'm. It rich enough to have heard about it--in the US at least.
How would making a CEO sell their stock crash market prices? If anything, it would just moderate values slightly by increasing supply. Who says this stock market system is the right system anyways? If dethroning assholes like Musk crashes the system, then we need to modify our system.
Investors put money on ventures and industries precisely to build wealth. If they are to be forced to divest at any point, they won't be interested in investing at all. Credit will dry up, overall liquidity will fall. Recession.
Or maybe they'll just have to invest in a diverse group of assets like how mutual funds are already setup?
Or in their own workforce or making their products cheaper for consumers? The money doesn't just exist in a stock market/tax vacuum.