Securities tax, payable in shares of the security. 2% of all registered securities (stocks, bonds, other financial instruments; anything the SEC would regulate) are transferred to the IRS every year. The IRS liquidates those shares on the open market over time, such that no more than 1% of total traded volume is from the sale of liquidated shares.
Exempt the first $10 million in a portfolio held be a natural person. No exemption for corporate portfolios.
This will drive business ownership and returns away from the ultra-wealthy and toward the working class. If you’re a business seeking investor capital, you’re getting it from the general public, not the billionaires. The billionaires will be busy pulling their money out of the markets.
Securities tax, payable in shares of the security. 2% of all registered securities (stocks, bonds, other financial instruments; anything the SEC would regulate) are transferred to the IRS every year. The IRS liquidates those shares on the open market over time, such that no more than 1% of total traded volume is from the sale of liquidated shares.
Exempt the first $10 million in a portfolio held be a natural person. No exemption for corporate portfolios.
This will drive business ownership and returns away from the ultra-wealthy and toward the working class. If you’re a business seeking investor capital, you’re getting it from the general public, not the billionaires. The billionaires will be busy pulling their money out of the markets.