BJ NichollsDec 1
Michael Busch

I read stories about the massively inflated share prices of various companies.

#TaxTheRich with a wealth tax, so that billionaires actually have to pay taxes on all of those stock holdings.

Then maybe they will actually be accurately valued.

Nov 8 at 4:57pmWeb
Show threadMichael BuschNov 8
Taking away Elon Musk's wealth by stopping Tesla from being overvalued.
Show threadsimonbpNov 8

@michael_w_busch Tesla will inevitably collapse when the AI bubble deflates, as that's what's keeping it up.

Question is, will the car division that makes real but unprofitable cars be worth anything once the AI delusions are done...

Show threadFelixNov 8
@simonbp @michael_w_busch I don't think so - Tesla's value builds on the promise of robots and Musk as a person I think, and these both could survive an AI bubble burst
Show threadMichael BuschNov 9

@felixs @simonbp

I just have this idea that if we taxed the few richest people on the claimed value of all of their assets, we would have fewer cases of investment bubbles driven by billionaires propping up meme stocks.

Rather than Tesla having 20 times the market capitalization of GM while making far fewer cars.

Show threadsimonbpNov 9

@michael_w_busch @felixs Yeah exactly.

Either you can be taxed on valuation or you can't get loans with valuation as psuedocapital. Allowing one but not the other is unsustainable.