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And many who will never come close to that level of wealth, defend these tax policies. The hatred of government and taxation is truly odd…it warps people’s minds.

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The value of the stock increases, over the long run, because the value of the company increases. The value of the company increases because, over the long run, the company increases the economy. More jobs. More productivity.

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Ya know this will only go so far.

Eventually, at some point, someone is going to promise a true virtuous republic to the people suffering.

That’s when heads start getting lobbed off.

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You aren’t talking about taxing used money (buying), you are talking about taxing notional values of illiquid assets. And just using the same old arguments of class warfare to try and sell it. You want to collect more money, remove the capital gains tax all together and put a sales tax on every securities trade, paid by the buyer at time of trade.

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The value of a stock does not mean that there is more productivity. The value of the stock can increase for things like the record high $1.31 Trillion global stock buyback in 2022 alone. There was over $1 Trillion in buybacks in 2023.

That is an increase in stock price without adding one bit of productivity to the economy.

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Eventually, that loan has to paid off with personal money that will be taxed when earned/received. For a time, one could pay off the debt by taking on more debt. We all know how that ends in the long term with people who use credit card debt to pay off credit card debt…not well.

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Wealth taxes and property taxes are the same type of wrong.

Being taxed for something you own that you’ve already paid taxes on.

If you can be taxed for owning it, then you don’t own it, you’re just renting it.

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Actually I do think that there should be a tax on securities trade.

What value do flash trades add to the market?

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That is the true purpose behind agitation by immiseration. Rationalize the revolution, promise utopia, then deliver a return to a feudal society.

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Why I say in the long run. Stock can be run up in the short time by over valuation or down by over pessimism. In the long run, it follows the value of the company. If someone is smart/lucky enough to cash out while the stock is over valued, good for them and for,the government…which will get its cut in taxes at that point.
If there is a buyback, then some sold their stock back to,the company. The government again got a cut.

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It was the Democrat Party which got the ball going on the evil income tax, which allows for class warfare, and slackers to avoid contributing to financing the functions of government.

.

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Yeah… it happens when they die. That is how they have structured their debt. They can take on new debt to pay off old debt because there is some bank out there that loves to have a multi Billionaire in their private banking portfolio.

Take for example Carl Ichan. He secured a $1.2 Billion loan based on his NY Penthouses. He then takes that large chunk of money to go and aquire more assets that will over time increase in value. By doing this debt deal he is able to make in 2016 -2017 $544 million but pay zero in taxes because the loan that he lives off of and invests with is counted as a liability.

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Then maybe your problem is with the amount of inheritance tax.

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You are focused on a shiny object and ignoring the actual central objective. Why someone makes a specific trade, or the character of the trade is irrelevant. You simply tax the act, with the rate being identical on all trades, and no trades being exempt. Those with the liquid wealth, and the means, will trade, and pay the taxes. Those who trade more will pay more.

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Problem is that with the way our tax system works the immiseration is actually real.

Most of us are essentially proletariat workers. We get taxed at obscene rates by the government. Then you have a whole class of people who don’t pay in to this system we have. They have special privileges and perks simply because they’re rich.

If I was rich, I would be lobbying for a reform to the system to make it more fair to the lower class. That way if they decide to rise up under some American Robespierre I might get to keep my head in its proper place on my neck when they start cutting everyone’s heads off.

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76

Which can also be easily bypassed with trusts and charitable foundations.

That added to the Step Up in basis of inheritance it then wipes out decades of what could be considered taxable Capital Gains and sets the clock back to zero.

The rich have spent quite a good bit of time and money to get the tax code to be maximally advantageous to them.

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Yeah… that is the point.

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He and every major corporation. That’s why you will find they all have huge liability sections in their annual,reports. They borrow money when they can put it to better use than the lender. If they grow the economy with it, they have increased their wealth. Some of the revenue that results is used to pay interest on the debt, salaries and, if they are successful enough, they will use it to,expand their asset values with more machinery etc. Any of the profit not used for expansion gets taxed as income.
That’s basically the system. Doesn’t bother me so much, but there we are.

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100%.

It’s amazing that most people don’t understand this.

Heck I think it’s utterly ridiculous the amount of ways I can pay lower taxes that are just not available to my Brother who is in the 28% tax bracket.

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And under our current system the poor can pay no tax on their income, and receive an excess refundable credit that exceeds their social security withholding, while still giving them credit for payments into the social security system. It is the middle class who exploited. And I never use the word proletariat to describe the working class. Adopt the language of the Marxist and it is too easy to be steered into their rationalizations.

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