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Their take on the wealth tax stuff was pretty weak IMO. There are obviously a lot of weird issues to work through with unrealized capital gains etc, but @pmarca really piles on the logical fallacies (straw man, catastrophizing, slippery slope).
Founders and VC being forced to regularly sell off a slice of over-inflated shares they own in excess of $100m will probably just lead to more realistic pricing of those shares over time, which means more accessible and stable markets for everyone else, not to mention the massive quality of life improvements that could be built with the influx of tax revenue.
It seems irresponsible for a nation to allow its currency to accumulate in wildly disproportionate pools of capital while infrastructure crumbles, and millions struggle with basics like food, housing, and healthcare.
I'm cool with people becoming ultra-wealthy, but they should have to keep working for it, and keep supporting the infrastructure that made it possible, or be okay with having less than $100m 🤷 0 reply
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