Thread by @Timcast

AOC and her supporters think billionaires have billions of dollars in liquid assets

They dont

Selling assets is complicated, value is complicated, net worth is complicated
and actually sometimes a bit nebulous

So for the most part no, no one *has* a billion dollars

https://twitter.com/AOC/status/1179237019043729410

The wealth tax on its face seems to be based on this premise.

How do you tax Bezos on 107.9 Billion dollars when it is almost entirely tied to Amazon stock?

Selling too much stock will lower the price and could shake the company.

Bezos 2019 net worth is listed as 107 Billion

Its mostly Amazon stock

His income for 2018 was 1.68M which included securities and benefits
His salary was about $81,000

Even at 1% wealth tax youre assuming he could liquidate 1.07 billion dollars in cash to cover that

So lets say he does decide to sell off this stock

there'd have to be a billion dollars in immediate demand for the stock
the stock price would need to remain static, it won't

Selling a billion dollars in stock will drop the price and bring a diminishing return per stock sold

Its not about moving income offshore

Its about starting a foreign company and investing there to avoid a heavy wealth tax that cant be paid.

Imagine if Amazon started in Russia