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> What will end up happening is they will make a wealth tax, companies will stay private and hide behind accounting for their income That makes sense > and it
by wkrsz 2y ago
> What will end up happening is they will make a wealth tax, companies will stay private and hide behind accounting for their income
That makes sense
> and it will shut off wealth building for many.
Can you elaborate on how would wealth building be shut off?
- chung8123 2y agoIf companies decide to stay private the vast majority of people won't be able to invest in companies. As well as companies will be taken private more often. If you own a company like TSLA where the revenues don't make the stock price you would be better of being private and showing the company is "worthless" in terms of profit.
- chung8123 2y agoAlso to add, public companies have to share their financial records. Private companies can keep them private for the most part (not to the government though). It will make financials more opaque.