The difference is between private property and personal property. Private property is the means of production that produce wealth by extracting a profit margin from the labor of the workers that operate that means. Seizing private property is just democratizing the ownership of it between all the workers that use it, because you can’t really steal a corporation or a factory, just change ownership. Seizing personal property is taking someone’s toothbrush or car or books.
Stealing ownership is still stealing though. You are suggesting we steal personal ownership in a company, ownership which is only worth a certain amount because the stock market says it is.
It’s not like they’re going to just give it up. Do you think that the concentration of wealth in the hands of a few people is a good thing? Is it a good thing that billionaires get to waste money shooting off rockets while so many people go without a roof over their head?
Wealth in this case is ownership in companies that have a massive worldwide presence. If wealth is ownership in the companies you own, then yes, I don’t think they should be forced to give that up. What they decide to spend their wealth on is up to them.
ownership which is only worth a certain amount because the stock market says it is.
Market value and use value are not the same thing. Cases like Musk obviously display wild overvaluing, but the practical use a repatriated asset can provide is not the same as its price tag unless your only use for it is to sell it.
So how do we calculate wealth if it isn’t based on what the market says it’s worth? If we are going to tax Musk on his wealth, most of which is stock, how do you figure out the “real” wealth to tax?
