Plus it didn’t explain were the money comes from. Bazos makes 80k a year, and his stocks go up in value which is why good net worth goes up. If we taxes his unrealized gains where the money come from?
So every billionaire is going to selling stocks. You do realize the owners is these stocks are going to either be china or Black Rock if that happens. They are the only ones that would be able to afford to buy them. It would be a massive transfer of weath to big corporations or even worse a foreign country.
An idea I’ve come across is to tax the shares directly into a fund held by the IRS to be sold over time on the market. I haven’t extensively thought through it myself, but that could help spread the buying period allowing more people/orgs to afford to buy it. Also helps the market not crash every year when everyone is forced to sell.
So basically lower the stock returns by devaluing the gains and giving Black Rock all our stocks. The only thing i see happening with that is it’s people are not going to be able to retire and they will need to work more because the returns in the market will vaporize their chance to retire.
When the rich move to inventing in hard assets instead of the market, housing will go up as investors buy up the market. Meaning taxing the unraised gains will cause more people to be priced out of housing as well.
So they you expect them to keep acting as parasite and you mean the law can reign them ? That doomerisme buddy, don’t loose hope. And action need to be pushed at many level, you need to spread the idea if so much people start speaking about taxing billionaires constantly the subject will have to be treated.
We need a way to tax when stock valuation is used as collateral for loans and revolving credit, enabling people from Bezos to have paper income of 80K and realizing gains without actually realizing gains. A general wealth tax, especially on unrealized gains, is obviously dumb, but the ghost gains loophole needs to be closed.
Bottom line is that stock valuation shouldn’t be allowed to be use for collateral. If it doesn’t exist for tax purposes, then it doesn’t exist for collateral purposes. You want billions of dollars to play with? Liquidate your assets, pay your taxes, and have fun.
The system was obviously created as a tax dodge. We don’t have to act like it’s all over, they won, and there is nothing to be done. We can change it, and take away their tax dodge that is painfully parasitic on our society.
Just come up with a variable and if your total loans for the year (using speculative assets as collateral) are above that amount, the assets are taxed as realized gains. And the loan as income.
My thought is the limit should be 100x the annual take home pay of the bottom 20% of workers. Currently that’s about $1.6m. It has the bonus of needing to increase worker pay for cheaper loans.
Plus it didn’t explain were the money comes from. Bazos makes 80k a year, and his stocks go up in value which is why good net worth goes up. If we taxes his unrealized gains where the money come from?
They have to sell part of there action. If I can’t pay a debt, can i tell them you can’t smake me sell my actions to reimburse my debt…
So every billionaire is going to selling stocks. You do realize the owners is these stocks are going to either be china or Black Rock if that happens. They are the only ones that would be able to afford to buy them. It would be a massive transfer of weath to big corporations or even worse a foreign country.
An idea I’ve come across is to tax the shares directly into a fund held by the IRS to be sold over time on the market. I haven’t extensively thought through it myself, but that could help spread the buying period allowing more people/orgs to afford to buy it. Also helps the market not crash every year when everyone is forced to sell.
They did it for a bitcoin hack or scam too. They sell it by small amount and reimburse the scammed.
So basically lower the stock returns by devaluing the gains and giving Black Rock all our stocks. The only thing i see happening with that is it’s people are not going to be able to retire and they will need to work more because the returns in the market will vaporize their chance to retire.
When the rich move to inventing in hard assets instead of the market, housing will go up as investors buy up the market. Meaning taxing the unraised gains will cause more people to be priced out of housing as well.
Ypu can end discussion about funding something or something getting defended by wouldn’t have to close it if billionaires paid fair taxes.
So they you expect them to keep acting as parasite and you mean the law can reign them ? That doomerisme buddy, don’t loose hope. And action need to be pushed at many level, you need to spread the idea if so much people start speaking about taxing billionaires constantly the subject will have to be treated.
We need a way to tax when stock valuation is used as collateral for loans and revolving credit, enabling people from Bezos to have paper income of 80K and realizing gains without actually realizing gains. A general wealth tax, especially on unrealized gains, is obviously dumb, but the ghost gains loophole needs to be closed.
Bottom line is that stock valuation shouldn’t be allowed to be use for collateral. If it doesn’t exist for tax purposes, then it doesn’t exist for collateral purposes. You want billions of dollars to play with? Liquidate your assets, pay your taxes, and have fun.
The system was obviously created as a tax dodge. We don’t have to act like it’s all over, they won, and there is nothing to be done. We can change it, and take away their tax dodge that is painfully parasitic on our society.
Just come up with a variable and if your total loans for the year (using speculative assets as collateral) are above that amount, the assets are taxed as realized gains. And the loan as income.
My thought is the limit should be 100x the annual take home pay of the bottom 20% of workers. Currently that’s about $1.6m. It has the bonus of needing to increase worker pay for cheaper loans.