You are describing “securities”. Financial assets. Those financial assets (when held by the ultra-rich) are the problem. Those financial assets are transferring real wealth from the general economy to the people holding them.
I addressed financial assets.
Now, the nice thing about shares is that they don’t have to be held by any particular person. The value of those shares doesn’t change when they are transferred to someone else.
We could, if we wanted to, establish a tax on registered securities. We could have the SEC automatically transfer 2% of the shares in Elon’s portfolio from his ownership directly to the IRS. We could do that every year if we wanted to.
IRS liquidators could then sell off those shares, slowly over time, so that their sold shares are never more than 1% of the total traded volume.
You are describing “securities”. Financial assets. Those financial assets (when held by the ultra-rich) are the problem. Those financial assets are transferring real wealth from the general economy to the people holding them.
I addressed financial assets.
Now, the nice thing about shares is that they don’t have to be held by any particular person. The value of those shares doesn’t change when they are transferred to someone else.
We could, if we wanted to, establish a tax on registered securities. We could have the SEC automatically transfer 2% of the shares in Elon’s portfolio from his ownership directly to the IRS. We could do that every year if we wanted to.
IRS liquidators could then sell off those shares, slowly over time, so that their sold shares are never more than 1% of the total traded volume.