None, because their corporations exist as separate legal entities that own their own assets, and their personal wealth would go to their next of kin.
The way to get the wealth out of the hands of the wealthy is to tax them, or to remove the legal system that would keep their wealth in their family when they die.
He said he wasn’t promoting violence. Let’s infer that “kill” should be considered metaphorical, and asset forfeiture is more to OP’s point. Civil or criminal forfeiture means - hippity hoppity, it’s all now state property.
The government could operate them as arms length state agencies, or break the monopolies and sell fragmented assets back into public hands. The latter is more likely. The 1% can either be jailed or returned to commoner life without their assets.
The assets themselves would lose some of their nominal value because they are currently configured for maximum wealth. Anti-trust breakups would devalue the assets moderately because the configuration would be suboptimal for profit, and presumably re-optimized for public good.
As to debt and taxes, the asset seizure and sale would only put a small dent in it. The profound change would be the lack of lobbyists and campaign funding to bend and torture tax codes to serve the 1%. A fair system would be amazing and enduring here.
Perhaps from a heart attack from the shock of state forfeiture and the promise of an ordinary life, at best. Perhaps by their own hand from the prospect.
Well… some would go directly to next of kin, some would be claimed by banks to repay the loans they live on, and most would end up in the private “charitable” foundations they use to evade taxes (which are themselves usually operated by some blend of next of kin and their ideological proteges). There’s a complex web of ways they avoid that money falling into public hands, but the general answer “None” is correct.
I think in this scenario we’re gutting these corporations and changing our laws to make sure this level of corruption and monopolization never happens again
None, because their corporations exist as separate legal entities that own their own assets, and their personal wealth would go to their next of kin.
The way to get the wealth out of the hands of the wealthy is to tax them, or to remove the legal system that would keep their wealth in their family when they die.
He said he wasn’t promoting violence. Let’s infer that “kill” should be considered metaphorical, and asset forfeiture is more to OP’s point. Civil or criminal forfeiture means - hippity hoppity, it’s all now state property.
The government could operate them as arms length state agencies, or break the monopolies and sell fragmented assets back into public hands. The latter is more likely. The 1% can either be jailed or returned to commoner life without their assets.
The assets themselves would lose some of their nominal value because they are currently configured for maximum wealth. Anti-trust breakups would devalue the assets moderately because the configuration would be suboptimal for profit, and presumably re-optimized for public good.
As to debt and taxes, the asset seizure and sale would only put a small dent in it. The profound change would be the lack of lobbyists and campaign funding to bend and torture tax codes to serve the 1%. A fair system would be amazing and enduring here.
I choose to interpret it as “if the vast majority of the 0.1% died mysteriously over the course of a week or two”.
Perhaps from a heart attack from the shock of state forfeiture and the promise of an ordinary life, at best. Perhaps by their own hand from the prospect.
( ͡° ͜ʖ ͡°)
Well… some would go directly to next of kin, some would be claimed by banks to repay the loans they live on, and most would end up in the private “charitable” foundations they use to evade taxes (which are themselves usually operated by some blend of next of kin and their ideological proteges). There’s a complex web of ways they avoid that money falling into public hands, but the general answer “None” is correct.
I think in this scenario we’re gutting these corporations and changing our laws to make sure this level of corruption and monopolization never happens again