1386 Rich On Paper

Business is good for society; in fact, the most important aspect of a Liberty society is business, especially creating & running your own. Because liberty facilitates inequality, a large portion of the population who is intimidated by the success of others, even the perception that someone else is achieving something, often want to penalize the people who make them feel inadequate, most often directed at billionaires. There’s also the mistaken belief that billionaires have huge amounts of money at their personal disposal with which to pay taxes. To say a multi-billionaire’s net worth has increased by billions obscures the fact that they don’t personally get that money, it’s just imaginary. It makes sense that the imaginary-billionaire, who doesn’t actually take possession of the profit their company generates, should instead be able to reinvest it back into the company without taxation, even though it does increase their imaginary net worth, because they’re only getting richer on paper. However, if at some point the billionaire draws cash out of their company for their own gratification then tax it, and certainly redistribute the billionaire’s assets at their death so that the wealth doesn’t remain concentrated, even if it is only on paper.