The Soapbox

BocaHoo91

Joined: 06/03/2005 Posts: 31015
Likes: 52352


Paywalled, but I think it’s even simpler than that


we tax income not wealth. Someone like bezos has tremendous wealth but the only way he triggers material taxable income is by selling shares of Amazon and realizing a capital gain. But he doesn’t have to recognize any capital gains if he doesn’t want to. He can also leverage his net worth to borrow at rates that are close to zero, allowing him access to cash without triggering a taxable event.

A forced mark to market would solve this, but would create all sorts of other problems.

(In response to this post by GoochlandHoo)

Posted: 10/21/2021 at 11:09AM



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Current Thread:
  Not really, he just wants to return it to normal ** -- GoochlandHoo 10/21/2021 09:51AM
  Without commenting on whether this makes sense, -- fphoo 10/21/2021 08:21AM
  What are the millionaire tax breaks? ** -- BocaHoo91 10/21/2021 08:07AM
  The trump tax cuts that have the “rich” -- BocaHoo91 10/21/2021 11:40AM
  I'm not so sure people on this board are experts -- GoochlandHoo 10/21/2021 09:50AM
  This is all about defer, defer, defer. -- BocaHoo91 10/21/2021 12:26PM
  Yes. And when you’re worth billions -- BocaHoo91 10/21/2021 12:55PM
  I presume he's referring to... -- PBCHoo 10/21/2021 09:27AM
  What’s the difference? -- BocaHoo91 10/21/2021 3:00PM
  I'm not disagreeing with you. -- PBCHoo 10/21/2021 09:45AM
  Yeah, I just get annoyed with the whole -- BocaHoo91 10/21/2021 11:22AM
  It’s not that I think the rich are -- BocaHoo91 10/21/2021 12:38PM
  I think it’s fair they pay more. -- BocaHoo91 10/21/2021 1:00PM

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