Kirk's Market Thoughts Message Board

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Non-Tech : Kirk's Market Thoughts

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Jan 9 9:30 AM EST

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To: Kirk © who wrote (11986)	9/15/2021 5:52:07 PM
From: Elroy	Read Replies (2) of 27007

My thought is we need a "sales tax" on ALL revenue Too complex. Too many ways to hide revenues. You might as well tax every single financial transaction. Wayyyy too complicated. Taxing market cap is a piece of cake, in implementation. Every trading day of the year the company issues (1/(number of trading days per year)) * 1% in equity into the US Government account, which immediately sells it over the course of the day. Boom, nothing tricky about it at all. The government would have to put in taxes on non-public businesses that are more onerous than the Elroy 1% Tax on market cap, so if some business tries to avoid the Market Cap tax it is likely to actually end up paying more. And why only tax profits? Some big companies are around for years, never making taxable profits. Let them pay 1% of the value of their firm (their market cap) each year. I agree public pensions should be illegal. Let everyone live off of Social Security.

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