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Socialism: collect the conversion tax so it stays a tax

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Adds The Conversion Tax chapter. The tax is withheld in cash from each
buyout payment, the rate schedule is locked on conversion day, brackets
run on cash actually received, pre-bill gifts are added back to the
lifetime ledger, and above-market side payments to former owners count
as proceeds. It explains why taking the tax in kind was rejected
(Koontz, Horne, Tyler). It also corrects the 1950s precedent (capital
gains were capped at 25%) and states plainly how the recycled tax
lowers what workers pay. Open problems now cover proceeds vs gains,
treaty overrides and recession cyclicality.

Co-Authored-By: Claude Opus 5.5 <[email protected]>
Claude-Session: https://claude.ai/code/session_01GsSJ98117VXm9t7rBra5NX
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jheaps
2026-09-23 08:10:48 -06:00
co-authored by Claude Opus 5.5
parent b1ed1b9b13
commit 0340c33bfb
4 changed files with 64 additions and 5 deletions
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JoshHeaps.Net/Content/Socialism/index.md
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@@ -13,7 +13,7 @@ summary: A working model for an economy where the people who do the work own and
- **Workers own their company.** Every employee gets one vote from day one. A share of the profits grows with tenure until everyone who's been there long enough splits them equally. [Worker Ownership](worker-ownership.md)
- **Companies back each other up.** Worker-owned firms pool part of their profits into a shared fund and bank. If one firm fails, its workers are moved into others instead of being left with nothing. [The Federation](federation.md)
- **Existing companies are bought, not seized.** Workers buy their company at full price and pay for it out of its future profits. A steeply progressive tax on the sale proceeds then funds the transition for everyone else. The price is set by clear rules, like the market price or what the last buyer actually paid, rather than by dueling experts. [The Conversion](conversion.md) · [Valuation](valuation.md)
- **Existing companies are bought, not seized.** Workers buy their company at full price and pay for it out of its future profits. A steeply progressive tax on the sale proceeds then funds the transition for everyone else. The price is set by clear rules, like the market price or what the last buyer actually paid, rather than by dueling experts. [The Conversion](conversion.md) · [Valuation](valuation.md) · [The Conversion Tax](conversion-tax.md)
- **Investment is rented, not owned forever.** Investors still fund companies and can still earn huge returns, but their claim runs out and comes with no vote. [Capital, After](capital.md)
- **Nobody is left behind by low-margin work.** Ownership doesn't help much when there's barely any profit to own, so a strong floor covers the rest. [Ownership and the Floor](the-floor.md)