Yep. I didn’t want to make the post much longer, but I almost went on about how this could easily be a win-win scenario.
The one speed bump I wonder about is that loss of shares means loss of control of the company and its board, which your “founder & CEO” types will not like.
…but I guess reasonable people may consider that a feature, not a bug.
Billionaire wealth tax. No one needs a a net worth over 1B. Tax any amount over 1B. There is an easy solution to the “next dollar” over 1B while the owner remains in control. Value the shares each quarter. Any amount over 1B is converted from a common share worth $XXX to a preferred voting share with a par value of $1. The difference in value is treated as income or a capital gain and subject to tax. The owner retains their vote/control.
Yep. I didn’t want to make the post much longer, but I almost went on about how this could easily be a win-win scenario.
The one speed bump I wonder about is that loss of shares means loss of control of the company and its board, which your “founder & CEO” types will not like.
…but I guess reasonable people may consider that a feature, not a bug.
And btw, thanks!
Billionaire wealth tax. No one needs a a net worth over 1B. Tax any amount over 1B. There is an easy solution to the “next dollar” over 1B while the owner remains in control. Value the shares each quarter. Any amount over 1B is converted from a common share worth $XXX to a preferred voting share with a par value of $1. The difference in value is treated as income or a capital gain and subject to tax. The owner retains their vote/control.