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But couldn't taxing assets create a problem of liquidity for some companies? For example a large manufacturing firm that is having a cash flow problem. Their assets may be massive, because capital equipment and land are so valuable, but their available cash may be limited. It may force them to borrow against their assets just to pay the taxman. But then what of a company like Facebook, who owns next to nothing, but is somehow "valuable". Does their market cap count as tax liability? Its an interesting idea that I've heard some commentators discuss, but it wouldn't be without difficulty.