Looks like this would tax options at vest rather than exercise, essentially ending employee equity comp in startups.
Interesting how he wants the workers to own the means of production but also is trying his damndest to disincentivize it.
Interesting how he wants the workers to own the means of production but also is trying his damndest to disincentivize it.
If he is correct in claiming that one group is being left behind, passing legislation designed to tie the hands behind the back of another group is not going to help the poorer group. His entire worldview revolves around the flawed misconception that the economy is zero-sum. That of course is a bunch of nonsense. Peter the software developer getting 0.25% equity stake in a startup does not hurt or hinder Joseph the line cook, and preventing Peter from getting that stake will not make Joseph better off.
That’s always been my impression of socialism and communism: unchecked good intentions justifying repeatedly failed and destructive policies.
I think that’s why they also hate Amazon — at some level, they know that hundreds of millions of people voluntarily use Amazon products, while the only way they can get people to adopt their radical ideas is through coercion and force.