POLITICS Random Political/Legal

Does the government refund the taxes if the assets crash if they're going to siphon gains before they're realized

 

It’s amazing to me the percentage of people who have bought the left bullshit that the middle class pays most of the taxes in this country. 30 second google search proves it wrong, but I guarantee you over half the population believes it to be true.

 

Like when buffet talked about how his “secretary” had a higher marginal tax rate than him and it turned out she and her husband made over $400k combined a year

 

I am glad you acknowledge how things are.

Also, let zehr know i made a good call to sell Tesla when I did. That was the previous thing I was allegedly wrong about.

 

I never proposed an alternative system, I just didn't pretend rich people pay proportionally more of their accruing wealth than a teacher.

 

I don't like a wealth tax in both theory and the administration of it. The second part terrifies me.

I *could* be convinced that a tax should be implemented when stock is used as collateral for freeing cash.

 

I think i laid out what I and many including you know about what the fundamental reality is.

 

Yes, but our system is not nor has never been designed to tax accruing wealth that is held and not realized.

 

I don't have a ready solution.

 

I’ve always said Tesla was overpriced. I’ve been wrong because it kept going up though

 

again he said tax rate. You are moving the goalposts

 

It is an income tax and wealth taxes aren't effective so going down that road won't lead to good things IMO

 

So every business that takes out a loan and uses the company as collateral has to pay capital gains? I can’t imagine anything worse for economic growth.

 

Would be hard to do IMO since the whole fiat money system depends on the credit to keep the game going

 

And maybe it shouldn't be. But we all know damn well a teacher is paying relatively more of what they get than someone with real estate or stock. It isn't vilifying to know working for a living is more burdensome than accruing wealth through investment and appreciating assets.

 

Nope, individuals who take it out with stock as collateral.

 

I should have clarified this is for individuals and held stock as collateral.

 

It's still overpriced but I like the company. I guess all that matters is being right at points of buying and selling.

I think it became a bit of a meme stock before we called them that

 

No because teachers also can invest and is also one of the top professions for investing and being "rich"

 

And that's the whole thing. It's a runaway train of winning for the winners and people without much to start with are locked out. And money they directly earn is treated differently.