Naive, but appealing one dimensional, short term thinking is scary if not dangerous, and this is a good example.
Yes, the value of Walmart shares have increased since January, from $118.94 to $142.83 on September 4th. However, between September 1 and September 4 Walmart value dropped by $5.00 a share.
Time to tax billionaires? Tax fairness is taxing the paper growth in investments?
This reminds me of when I was negotiating a labor contract many years ago. The subject was the cost of group life insurance. Looking at documents we had provided, the union saw that the previous year the company had received a substantial dividend on the group policy. It felt employees should share in the dividend and their share of the premium should be reduced. The union was looking at one side of the equation.
My position was simple. I would agree to the sharing requested if the union would agree to also sharing the additional costs in the years there was a shortfall which was substantial and just as often as dividends. The variable was the claim experience of the group of 18,000. Once understood the matter was dropped.
Politicians, indeed all progressives, have an inability to grasp the big picture, to consider consequences. They are willing to initiate ongoing (mostly permanent) programs with fixed and growing costs funded by sources that are not fixed or even stable and which often decline. One only need look at today’s major spending programs for examples.