[jaredklewis]

Geez this comment is a melodramatic non sequitur.

There's no rule you have to own QQQ and indeed most people don't. There are thousands of low cost ETFs that provide passive exposure to the market. If this new rule bothers you, be like most people and buy one of those instead of QQQ. Problem solved.

Like sure, let's improve our tax systems (as an aside, I would say there are many more efficient and progressive options than a wealth tax, but whatever), but I don't see how there is even a tangential link between that topic and the NDX rule change.

[tripletao]

If you already own highly appreciated QQQ in a taxable account then your options are limited, since moving to a different ETF would realize the capital gain. It may be preferable to hold even if you think you're losing money buying SpaceX at an inflated price, if selling would lose even more in taxes.

If you own an ETF that buys SpaceX but without overweighting vs. float, then you're not contributing to the inflated price in that sense. You're still buying at the inflated price though, so the NASDAQ rule change still affects you indirectly.

I guess the point of the "wealth tax" comment is that any higher taxation of the wealthiest individuals would reduce their power to shape the rules to their favor, and a wealth tax is potentially harder to avoid than income taxes. I think most prior attempts just made them emigrate, though.

[underlipton]

We'll happily take the exit tax.

[yabutlivnWoods]

As soon as you try to do something more efficient than:

mv some_rich_ppl_money some_poor_ppl

You're making it more inefficient; any other hop in such a system is inefficiency.

Such a tiny minority of real people are not that important to the species. Maybe that important to some mind palace of some contemporary meat suits but they're going to die anyway; kicking the can down the road for future people. If we can fuck the future, fuck us then. Our existence is just as forfeitable

My neighbors and family have been expressing such. If we're just going to screw the next generation via environmental collapse and serfdom to rich overlords they opt to give up on the living enabling it