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I think it’s safe to say people on the right don’t look past the 3rd column and people of the left go straight to the 4th.
Ok, so here is a question.
Let's say we tax Bezos on his $99B increase in wealth. If Amazon stock goes down and he loses $99B in wealth, does he get a tax credit?
We have never taxed on unrealized gains. I don't think many people would be happy if their mutual funds increased $20K in value and they had to pay whatever percentage of tax on that gain and then the fund goes down in value wiping out that $20K they just paid taxes on.
If he takes out loans against his unrealized gains and uses them to “live on,” that (minus interest) is effectively income. Tax him on that.
If he takes out loans against his unrealized gains and uses them to “live on,” that (minus interest) is effectively income. Tax him on that.
Ahh, you know the scam.
But I'm OK with that.
Ok, so here is a question.
Let's say we tax Bezos on his $99B increase in wealth. If Amazon stock goes down and he loses $99B in wealth, does he get a tax credit?
We have never taxed on unrealized gains. I don't think many people would be happy if their mutual funds increased $20K in value and they had to pay whatever percentage of tax on that gain and then the fund goes down in value wiping out that $20K they just paid taxes on.
They are not proposing taxing unrealized gains for everybody. Nobody will be hurt by this except billionaires, who never cash in their stocks anyway, so they aren’t actually being hurt either. They get 1% (or lower) APR loans against the value of the stock and use that money. They are enjoying the gains without “officially” realizing them. They’re abusing the system, and they need to pay their fair share.Ok, so here is a question.
Let's say we tax Bezos on his $99B increase in wealth. If Amazon stock goes down and he loses $99B in wealth, does he get a tax credit?
We have never taxed on unrealized gains. I don't think many people would be happy if their mutual funds increased $20K in value and they had to pay whatever percentage of tax on that gain and then the fund goes down in value wiping out that $20K they just paid taxes on.
If you don’t realize that billionaires are playing by different rules when it comes to the tax code, you aren’t paying attention. Absurd to talk about $20,000. Just completely missing the point. Tossing out idiotic hypotheticals to avoid ever improving the system instead of actually addressing REAL problems = a HUGE problem with the GOP.
Yes, $20K is a low number. But what starts out as a Billionaire tax will creep down to Millionaires and then to everyone else. If there is a way for a politician to extract a tax from it, they will.
Yes, $20K is a low number. But what starts out as a Billionaire tax will creep down to Millionaires and then to everyone else. If there is a way for a politician to extract a tax from it, they will.
I honestly cannot believe anybody thinks it’s ok for Bezos, Musk, etc. to pay 1% tax rates and then say “OH NO SLIPPERY SLOPE!!!” If we want them to pay the same rate as:Yes, $20K is a low number. But what starts out as a Billionaire tax will creep down to Millionaires and then to everyone else.
Let it sink in. These 4 guys made more money in a year than the net worth of 1,200,000 average american families (using the median; 200,000 if I use the average which is clearly heavily skewed towards the rich). For those claim these guys work proportionately harder, this means they can work >50,000 harder than the average american family.View attachment 9418
I think it’s safe to say people on the right don’t look past the 3rd column and people of the left go straight to the 4th.
Yes, $20K is a low number. But what starts out as a Billionaire tax will creep down to Millionaires and then to everyone else. If there is a way for a politician to extract a tax from it, they will.
View attachment 9418
I think it’s safe to say people on the right don’t look past the 3rd column and people of the left go straight to the 4th.
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