Billionaire wealth tax. No one needs a a net worth over 1B. Tax any amount over 1B. There is an easy solution to the “next dollar” over 1B while the owner remains in control. Value the shares each quarter. Any amount over 1B is converted from a common share worth $XXX to a preferred voting share with a par value of $1. The difference in value is treated as income or a capital gain and subject to tax. The owner retains their vote/control.
Billionaire wealth tax. No one needs a a net worth over 1B. Tax any amount over 1B. There is an easy solution to the “next dollar” over 1B while the owner remains in control. Value the shares each quarter. Any amount over 1B is converted from a common share worth $XXX to a preferred voting share with a par value of $1. The difference in value is treated as income or a capital gain and subject to tax. The owner retains their vote/control.