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Notes -
Theory — the new unrealized capital gain tax is designed (or will have the effect of) forcing people like Elon Musk to surrender control of corporations resulting in PMC control instead of founder control.
As some detail, there is a proposed 25% tax on unrealized gains for the super wealthy coupled with a 44% tax on realized gains. So let’s say you own 10b of a 100b company. If you do nothing you will owe 2.5b of tax. But if you sell 2.5b, you’d actually owe more! So you end up having to sell a pretty big chunk of your stake. This means that before companies get really large founders have to sell a big chunk of their equity preventing super wealth. It also changes incentive structures for founders making them more likely to cash out.
Once they cash out, PMC will take control. PMC coexists with modern democratic policy. Therefore, the democrat tax proposals help ensure corporations are run by allies.
PMC control as opposed to what? The last I checked Musk was both professional and managerial. It's not a term I've ever heard used by anyone other than an online conservative who isn't exactly blue collar.
That probably says more about you than it does about anyone else, because the term comes from some leftist trying to reconcile the classical Marxist view of society with the fact that the majority of the oppression of the working class nowadays is coming from people who aren't the owners of the means of production.
I agree that Rov is dismissing a valid issue for bad reasons and it is fair to talk of PMC, but as far as I am aware the concept of the Managerial class has its origin in James Burnham's Managerial Revolution. Who is an individual who moved from being a Trotskyist to being a right winger. I believe he wasn't a Trotskyist by the time he wrote the Managerial Revolution but he wrote it at a point where it was just a few years after he broke from Trotskyism, and that intellectual legacy still shaped to an extend the way he analyzed things.
As Bartender_Venator points out we are both right. It's a laundered term specifically coined to avoid it's association with the right.
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