too bad that family run business is either going to be floated on the stock market to get destroyed by the stockholders wanting short term profit or mismanaged by the government I guess
Friends, since we aren’t politicians here, couldn’t we find a middle ground?
Let’s make the limit $10M and maybe you could add a way where a business can elect to pay the tax over time rather than selling or being broken up.
Point being - we need some way for people who have astronomically more than they’ll ever need to help out with so many others who are fighting for survival.
Hard work and success should be rewarded, but only up to a point. As much as the US is indoctinated with the individualistic ideology, that isn’t reality and hasn’t been since… well, the start of human history.
too bad that family run business is either going to be floated on the stock market to get destroyed by the stockholders wanting short term profit or mismanaged by the government I guess
That’s a fairly easy specific to avoid in any detailed legislation.
and you’ve just created a loophole where assets can be transferred to a family business to avoid the tax
I haven’t just created a loophole, I’ve just created a single sentence. Tax legislation is more detailed than that.
Friends, since we aren’t politicians here, couldn’t we find a middle ground?
Let’s make the limit $10M and maybe you could add a way where a business can elect to pay the tax over time rather than selling or being broken up.
Point being - we need some way for people who have astronomically more than they’ll ever need to help out with so many others who are fighting for survival.
Hard work and success should be rewarded, but only up to a point. As much as the US is indoctinated with the individualistic ideology, that isn’t reality and hasn’t been since… well, the start of human history.