Billionaire investor Bill Ackman outlined what he described as ways to "destroy a country," pointing to wealth taxes, government waste, rising borrowing costs and other policies he argued could undermine economic incentives.
Ackman made the remarks in a post on X on Sunday, listing items under the heading "How to destroy a country" after stating that "incentives drive all human behavior."
Wealth Tax And ‘Paper Wealth’
Ackman cited "the introduction or threat of a wealth tax including the taxation of unrealized gains, i.e., taxes on paper wealth." He also listed "the flight of the most productive business builders and highest taxpayers to lower tax countries with lesser security concerns."
Ackman previously criticized a tax plan from Rep. Ro Khanna (D-Calif.) in August that would let illiquid startup founders pledge shares for a government loan to pay taxes, warning it could leave failed founders insolvent and facing lifelong wage garnishment. Billionaire Mark Cuban called the plan "insane."
Spending, Borrowing And Rates
Ackman wrote: "Government fraud, waste, and abuse contributed to ballooning budgets." He also cited a government "managed by a massive and growing unelected bureaucracy."
Ackman further cited "increased borrowing by the state to fund the growing social burden," followed by "higher sovereign interest rates" and "the resulting need to reduce expenditures to make the math work."
Borrowing costs have been rising. Ross Gerber, CEO of Gerber Kawasaki Wealth Management, has warned that U.S. policy could cost the country hundreds of billions of dollars in extra interest, with federal debt above $40 trillion. He said the U.S. "can’t afford a 5% Treasury bond for long without creating a debt spiral."
Ackman previously targeted federal spending as well. In August 2025, he called spending on the Supplemental Nutrition Assistance Program, which serves more than 40 million Americans, "Absurd."
Immigration, Fertility And Unrest Also Make His List
Ackman’s list also cited an "open immigration policy that does not screen immigrants to determine their ability and willingness to provide for themselves and their families."
It also named "the declining fertility of the most educated and productive women," "the continued failure to punish and hold accountable violent and looting rioters" and "the rapid rise in anti-semitism."
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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