Rivalarrival

Marsha Blackburn opposes the 2nd amendment.

Thanks.

I distinguish between problematic wealth (financial assets, which entitle the owner to revenue ultimately produced by workers) and non-pronlematic wealth (assets ultimately purchased from workers.)

A worker who produces widgets earns his pay from the sale of those widgets. That worker shares the income from those widgets with the owners of the widget factory. That worker is better off when a rich individual purchases a $10,000 widget than when that rich individual purchases a $10,000 share in the factory.

So, we should tax wealth held in the form of factory shares rather than wealth held in widgets, to incentivize this rich person to buy widgets rather than shares.

You don't seem to understand that the overwhelming majority of businesses are sole proprietorships.

You don't seem to understand that the second most common type of business is a simple partnership.

You don't seem to understand that what you are describing would require a prohibition on converting a sole proprietorship into a partnership, and vice versa. Once you organize a small, home-based business, you can't later take on a partner, to share risks and rewards.

Worker-owned businesses are now prohibited, because workers can't transfer their ownership to other workers when they join or leave. Co-ops are prohibited, same reason.

No, I'm afraid that you haven't put much actual thought into this idea. In your zeal to tax the richest among us, you've just made it so that they are the only ones capable of starting a business with any chance of success.

What is your "preferred solution"?

The idea that businesses shouldn't be bought or sold is not a solution at all.

You absolutely can have unrealized gains without a stock market. Build a business. Someone wants to buy it from you for $150,000 last year, someone else wants to buy it from you for $250,000 this year, you have unrealized gains of $100,000 from last year to this year.

What we can do is apply an annual wealth tax of 1% of all registered securities, (stocks, bonds, etc) and exempt the first $10 million of each natural person. You don't have to sell your shares; the SEC knows how much you're holding, and will transfer them automatically to IRS liquidators, who will resell them on the open market in small lots, no more than 1% of total traded volume per month.

Jeff Bezos and Elon Musk lose 1% of their empires per year until they are worth less than $10 million.

I've got a guillotine they can put to good use.

https://en.m.wikipedia.org/wiki/Israeli_apartheid

His address is public record. You can look it up on the county auditor's web site.

Voter registration records, including party affiliation, are also public records in Ohio.

It doesn't even apply to all felonies. It only applies to certain particularly violent felonies.

B

the thing that's different is that social media has demonstrative harm.

Is that actually a difference?

Rock and roll causes harm: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8580930/

TV causes harm: https://www.health.harvard.edu/mind-and-mood/too-much-tv-might-be-bad-for-your-brain

Video games cause harm: https://www.apa.org/news/press/releases/2000/04/video-games

Pretty much everything kids do that their parents didn't has been "proven" to cause harm. Radio, cinema, comic books, even newspapers were "proven" to harm young people.

Authoritarianism is a far bigger threat than any of these.

Bet.