You are confusing wealth with money. Excluding bazos, most billionaire wealth is stock evaluations in a bubble market. The second you try to realize that into cash that “money” disappears. Bazos is actually one of the few Billionaires that stocks are low p/e, so you could realize cash pretty easy from him. But this couldn’t be applied to most billionaire.
Yes, but you are taxing 300+ p/e bubble stocks. What happens when they go to 30 after speculation? We refund the billionaire on wealth that didn’t exist?
We start by taxing shares used as collateral for loans. We need to disincentivize that trick that allows them to pay lower taxes by not actually selling shares. If it can be used as collateral, it has a value and should be taxed as if it were a sale of the shares.
Welp pack it in people. Can’t tax billionaires they own stocks.
You tax them on valuation and then they will simply invest less in highly volatile (bubble) commodities. You don’t just give up because a current loophole in a broken system might not work in a new system.
We should appropriate 75% of the wealth of every person with a net worth over like $100-MM. short of that, remove the cap on FICA.
They got so much money, it’s literally an existential threat to humanity.
You are confusing wealth with money. Excluding bazos, most billionaire wealth is stock evaluations in a bubble market. The second you try to realize that into cash that “money” disappears. Bazos is actually one of the few Billionaires that stocks are low p/e, so you could realize cash pretty easy from him. But this couldn’t be applied to most billionaire.
Governments have no trouble taxing me for property I own. Stocks are property. 🤷♂️ This isn’t rocket science.
Yes, but you are taxing 300+ p/e bubble stocks. What happens when they go to 30 after speculation? We refund the billionaire on wealth that didn’t exist?
We start by taxing shares used as collateral for loans. We need to disincentivize that trick that allows them to pay lower taxes by not actually selling shares. If it can be used as collateral, it has a value and should be taxed as if it were a sale of the shares.
That would be a start. I agree.
Unless you propose some viable alternative you’re just concern trolling for the benefit of billionaires. 🤷♂️
And until you come to with a solution you are advocating for economic collapse trying to extract money from wealth that really didn’t exist.
There it is. You have no plan but you don’t want to disrupt billionaires. You are an enemy of the working class. Simple as that. 🤷♂️
The working class is there own enemy because they keep fighting to have access to now debt that increases billionaire profits.
Welp pack it in people. Can’t tax billionaires they own stocks.
You tax them on valuation and then they will simply invest less in highly volatile (bubble) commodities. You don’t just give up because a current loophole in a broken system might not work in a new system.