If you wonder why Bernie's bills don't go anywhere, this is exhibit number 379. https://t.co/eBZLhjVrhQ

— Chetan Sharma (@chetansharma) February 28, 2020

“this legislation would likely result in companies shifting more from stock options to restricted stock units (RSUs), and also changing vesting periods to quarterly or yearly”https://t.co/xaI42D49gl

— Alf (@GordonShumway66) February 28, 2020

This is what I have meant when I say Bernie’s analysis of structural racism means that he’ll miss bias in details and inadvertently sell the community down the river. When you create policy like this if you’re watching out for Black, Latinx, and Native folks you looks for things: https://t.co/nRXb9WP8YC

— Karla Monterroso #CloseTheCamps (@karlitaliliana) February 29, 2020

Terrible policy https://t.co/MZdel96GeN

— Rob Leathern (@robleathern) February 29, 2020

This is a genuinely terrible idea. Options aren't malicious, they're a two-way agreement that the team member understands the company's stage, believes in their vision, believes they can help achieve that vision and wants a piece of the pie if/when they do. https://t.co/maphn5by20

— Cory Tincher (@crtinch) February 28, 2020

I voted for Bernie in 2016—but won't be doing so again Tuesday for this reason.

Silicon Valley's practice of broad employee equity is one of the strongest manifestations of the American Dream still remaining.

Taxing illiquid employee equity would squash social mobility for many https://t.co/oOmuzDj3vw

— Bobby Goodlatte (@rsg) February 28, 2020

I don’t have much sympathy for executive deferred compensation programs but Sanders is nuts to want to tax stock options upon vesting rather than on exercise. This would force immediate exercise of options when vested to pay tax https://t.co/OBmSr7qXqN

— The Rational Walk (@rationalwalk) February 28, 2020

One more note on this Bernie tax story. In Nov 2017, Republicans proposed the same thing and dropped it after companies freaked out.

That’s a big $15B deal and I don’t remember writing a word on it then because so much other TCJA stuff was happening. https://t.co/sRf1pLHcvs

— Richard Rubin (@RichardRubinDC) February 28, 2020

The only rationale I can think of for Bernie wanting this: he truly doesnt understand anything about startups. This would be awful to so many employees & denounces how much good employees have done @ companies that once were startups &now are meaningful portions of the US economy https://t.co/G9NFzyuBEB

— Liz Wessel (@lizwessel) February 29, 2020

Not sure what @BernieSanders is thinking, this proposed tax bill doesn't take into account how risk/reward economics work in a #startup... Constrain growth & you kneecap your job creation engines that buttress legacy industries that organically atrophy: https://t.co/lUp0ZQOzcD

— Igor Jablokov (@ijablokov) February 29, 2020

How would this plan have worked out for folks @WeWork? https://t.co/9JdQXF6W37

— reedgalen (@reedgalen) February 28, 2020

Sanders during last week's debate: employees should own more of businesses

Sanders today: proposes a tax plan that discourages equity compensation https://t.co/lNaFsmuLMt

— Zak Kukoff (@zck) February 28, 2020

For background: @BernieSanders tax plan for options is likely influenced or even based on the work of @Lazonick

Bills work on buybacks, options & exec compensation was perhaps in part popularised by this 2014 @HarvardBiz articlehttps://t.co/penHjuKXzq

Cc @danprimack @paulg https://t.co/GOhXYJnM6e

— Paddy Cosgrave (@paddycosgrave) February 28, 2020

this... seems like it will lead to more wealth inequality? the only employees who will be able to benefit from their options will be those who already have the money to pay taxes on them https://t.co/sCw2AvddB6

— Tess Rinearson (@_tessr) February 28, 2020

If you are in the startup ecosystem and not speaking out against Bernie, you should really see what he’s up to regarding stock options. This impacts workers and prevents future wealth of these workers. He wants to tax on *vesting*.

— Cyan (@cyantist) February 28, 2020

Startup employees/founders likely can't afford to pay taxes on vested options!

How do people think someone making $130k can afford to pay tens of thousands in taxes *per vesting year* in something that has not increased their cash on hand? I sure as hell couldn't have! https://t.co/QDPSPjyrCC

— Max Lynch (@maxlynch) February 29, 2020

Taxing options would mean low level employees would get burned when a company (most) struggles. It would then be better for employers to not give them which would result in employees then not participating in the success of the company - this consolidates the wealth even more. https://t.co/ZMnfINTzh6

— Chet Faliszek (@chetfaliszek) February 28, 2020

For over twenty years, I’ve called for higher tax rates on realized capital gains. But this proposal from Bernie Sanders is beyond stupid. It would end entrepreneurship in America. Just clueless to tax phantom income, not real income. https://t.co/kPa3l4QrW9

— ted dintersmith (@dintersmith) February 28, 2020

This all-out attack on 1 of the few *working* systems for “workers to own the means of production” — which napalms the entire startup ecosystem to ding a few greedy F500 CEOs — shows what you’re really getting. Not Swedish Social Democracy, but convulsive Hard Socialism of Chavez https://t.co/xohc8Gl5a4

— Matthew Ocko (@mattocko) February 28, 2020

New Sanders tax plan would really screw over a lot of startup employees -- would tax options at vest, rather than at exercise.

Many employees would be unable to pay -- forcing them either to give up options or take out loans. https://t.co/vMmYFxR9N3

— Dan Primack (@danprimack) February 27, 2020

Horrible policy that would be harmful to hardworking Americans just like the FTT. We should be helping America’s small businesses & startup employees achieve their dreams by closely linking their hard work to ownership not taxing their equity away before they can even get started https://t.co/Fl9SKSVXrx

— Patrick McHenry (@PatrickMcHenry) February 28, 2020

Isn't this what Indian startups were complaining about? Looks like Silicon Valley and Bengaluru will have something in common after all! That is, if this plan actually becomes law. https://t.co/HcK7mjhM6O

— Chandra R. Srikanth (@chandrarsrikant) February 28, 2020

I’m so far left I’m Canadian, but this is too much even for me. Taxing people on the *potential* value of their equity stakes? How are they suppose to pay the tax of the gains are unrealized? Take out a loan? So so so stupid. Come on, Bernie. You can do better. https://t.co/3xGmETUHN8

— Erik Blachford (@erikbl) February 29, 2020

“People making more than $130k/yr getting more than $100k in options may have to either find a different compensation scheme or see some taxes”, THE AMERICAN DREAM IS DEAD. WE ARE NOW VENEZUELA. CANCEL RAINBOWS. Ffs. https://t.co/gt0jUOZdJU

— DHH (@dhh) February 29, 2020

The irony of Sander's tax proposal re: options is that it would be really good for VCs / investors / the real SV 1%.

Companies would need to raise more cash from VCs to pay employees & cap table /upside would shift to founders + VCs alone! #thxBernie! https://t.co/IouqYV6qsY

— sam lessin (@lessin) February 29, 2020

If your goal was to destroy the Silicon Valley ecosystem of creating new companies, this would be an effective way to do it. Taxing stock options at vest doesn't hurt execs, it would only hurt normal people who can't pay that tax bill with outside wealth.https://t.co/u2jJwFZyus

— Adam Nash (@adamnash) February 28, 2020

This is how to get many startups and their employees to work against Bernie ever getting elected.... https://t.co/RYhgF7GqTC

— sunny madra (@sundeep) February 28, 2020

Good Luck Silicon Valley, Bernie Sanders need your hard-earned $$ to fund his socialist agenda #CAGOP #realDonaldTrump https://t.co/Nyl0stchFw

— Ritesh Tandon (@tandon4congress) March 1, 2020

I know Bay Area dot-commers aren’t much of an oppressed class, but what actual problem are Sens. Sanders and Van Hollen trying to solve by taxing employees on the value of stock options years before they can turn them into money? https://t.co/ViqdV7PRWT

— Rob Pegoraro (@robpegoraro) February 28, 2020

Bernie's plan to hike taxes on some startup employees https://t.co/N86jB29mLb

— Dan Primack (@danprimack) February 28, 2020

Sanders is already proposing a Nerd tax.

Glad we're now going after those tycoons who make 130K + an equity lottery ticket that probably won't actually cash at early stage startups https://t.co/v9i8qBA1nx

— Aaron Erickson ? (@AaronErickson) February 29, 2020

Here’s a good summary from @axios: https://t.co/hwhXh2faJb https://t.co/LI010sHF9M

— Ryan Hoover (@rrhoover) March 1, 2020

Please inform yourself before you form opinions.

Also, please learn how to use Google News.https://t.co/OELTcX8BRW

— Peter Caputa IV (@pc4media) February 29, 2020

Bernie Sanders and Chris Van Hollen introduced legislation that would tax nonqualified stock options at vesting, rather than at exercise, for employees making at least $130,000 per year.https://t.co/0ctiOiWWEN

— Axios (@axios) February 29, 2020

"Not only might you not have the cash, but there's also the possibility that the stock will later go to zero or liquidate lower than your strike price — but the bill includes no claw-back mechanism.

So you've now paid taxes on money you never saw."https://t.co/GtaNzP79qr https://t.co/cPYLqg643t

— Casey Ames (@caseyames) February 28, 2020

I’m all for closing loopholes and having high income people pay higher tax rates.

But taxing events which produce $0 in income is crazy.

What if the value of your house goes up $100k but you are still living there. Should you have to pay $40k in tax?https://t.co/tb1H6iBXuC

— Mike Volpe (@mvolpe) February 29, 2020

Bernie Sanders's plan to hike taxes on some startup employees mmmkkayy https://t.co/DHS82C5rHM

— LongConvexity (@LONGCONVEXITY) February 29, 2020