zlacker

>>southe+(OP)
I wonder if this is coming up just before the election because of the Harris campaign’s suggested policy of capital gains tax on unrealised gains for people who have over $100m in assets? I think this is a great idea personally given what these people are doing to avoid paying tax including taking out loans against their own share portfolios. Worth thinking about what people are willing to do to not pay billions of dollars worth of taxes.

>>andy_p+ex
Unrealized gains taxes is an extractive and totalitarian tax. Someone is always risking 100% loss until they realize those gains. It's an affront to entrepreneurial risk-taking and it's capricious. It would be just as ridiculous to allow someone to write-off unrealized losses.

>>chrisc+fX
Well when you have over 100m in assets in your pile of gold in the dragon lair, its time to be extractive.

>>kjkjad+5Y
Nobody with assets over 100m has a "pile of gold", as you put it. Those assets are always productively invested in some form or another. But you would prefer that those investments be pulled, because the government are clearly much better at employing those assets productively?

>>this_u+i41
Its not a question of who is better at managing money but more who needs benefit in our society. The government supports welfare programs. Someone throwing 100m in the market does not unless they are taxed to do so.

>>kjkjad+mb1
Totally agree, it doesn't matter who earned the money, only that the government needs it for welfare

>>muayti+JN1
We all earned the money. Nobody makes 100M in a vacuum. That sort of profit only comes from taking full advantage of a country's infrastructure, its educated population, its safety from invasion. We all provide the society that allows someone to amass that much wealth, and we all deserve a piece of the pay out.

>>coffee+Kc2
How many of the people on welfare contributed to those things? It just sounds like you're in favor of distributing the wealth to people based on their contribution to the country as a whole.

>>iris70+vR2
Probably none, 50% of the population pays NO federal income tax.

>>muayti+u87
Yup, the 50% of the population that has managed to extract zero wealth from the system aren’t asked to put very much back in. Makes sense to me.

>>coffee+tq7
Yup, lots of moochers out there. Makes sense to me.