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by muhfuhkuh
3913 days ago
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This is never brought up with any kind of seriousness, and the lack of discussion baffles me. I don't understand how we talk about salaries when the top 5% usually do not draw a major salary. They live off capital gains from selling stocks and bonds. It just seems to be a 3rd rail that is untouchable, neither here nor in conservative or liberal blogosphere. It's always about that progressive 1040 taxation. That, or perhaps, instituting a 3% transaction tax for every damn unit of debt or equity sold. Whether its a broker or bot, tax it. But, of course, most of the ruling class wants to talk about "skin in the game" and advocating regressive sales or property tax. |
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That is also not entirely true. Sales of publicly traded stock by large shareholders is public information, and as an example, Mark Zuckerberg, sold a $2.3 billion chunk of shares in 2012 post-IPO when he became eligible http://www.theguardian.com/technology/2013/dec/19/facebook-m... and has not sold a single share ever since https://finance.yahoo.com/q/it?s=fb except for a disposition (charitable contribution). He probably doesn't need to either, there's a long wait before that bank account gets depleted.
It does not make sense for 1% to be transacting heavily in the assets they own, and if they're company officers they're frequently sending negative signals by doing that.