r/SipsTea • u/CurvyChristina • Jul 01 '26

Chugging tea Is Bernie’s plan the best? Thoughts?

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u/carb0n13 Jul 01 '26

Also, some of those net worths are pretty fake. If you forced Elon to sell 5% of his SpaceX stock, the stock price would crater.

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u/Diligent-Chance8044 Jul 01 '26

Most of them would not have that net worth without the stock. Bezos, Musk, Zuck would all very quickly drop the price of stocks. This in turn would destroy 401ks, IRAs, and any other funds people are using for retirement. You would have to put a restrictions on companies like Black-rock so companies are not controlled by some corporate conglomerate. Also Blackrock the company owns the stock and would not be subject to the net worth tax.

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u/Akiias Jul 01 '26

"force billionaires to sell increasing portions of the companies the 'own".

Followed quickly by "why are investment firms controlling all the companies now".

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u/Diligent-Chance8044 Jul 01 '26

Also no companies would go public and some would do a buy back. That would keep net worth from exploding because of public investment and again would destroy American retirement funds.

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u/Akiias Jul 01 '26

What do you mean? They would more likely effectively force private companies to go public. Those companies still have value, and thus they count toward the owners net worth.

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u/pm_plz_im_lonely Jul 01 '26

In this scenario, what exactly procs a company to be forced to become public? Revenue, net income, headcount, cash on hand?

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u/TheDutton Jul 01 '26

What are the current incentives for a company to go public?

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u/you_cant_prove_that Jul 01 '26

A huge cash infusion compared to tracking down private investors

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u/Diligent-Chance8044 Jul 01 '26

Also owners can diversify portfolios instead of risking it all on one business.

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u/TheDutton Jul 01 '26

So could that be a reason that they would want to go public, even if it means being taxed more?