@danbirken @theory04 @MorrisBubba @dtmunir @DavidSacks Imo the real goal is 40% ... The claim is that the yearly increase in asset value is "income" and they want to tax this income at the highest rate.
@danbirken @theory04 @MorrisBubba @dtmunir @DavidSacks It's the first year that's completely bonkers because they'd be taxing all previous unrealized gains, which for startups is nearly the entire value.
@danbirken @theory04 @MorrisBubba @dtmunir @DavidSacks But it makes a ton of sense if you want to live in a country where the government owns the means of production, since that's what this tax targets- all the real stuff that justifies the share prices of public corporations.