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Let’s Set a Maximum Wage for the Rich | The Tyee (thetyee.ca)
submitted 7 months ago by [email protected] to c/[email protected]
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[-] [email protected] 1 points 7 months ago

But capital gains only execute when you sell.

[-] [email protected] 5 points 7 months ago

all stock market trades should be taxed at 100% value. dont like it? dont ~~gamble~~ 'invest'

[-] [email protected] 3 points 7 months ago* (last edited 7 months ago)

...or just abolish the stock market (at least that's how I read this).

[-] [email protected] 4 points 7 months ago

At this point, abolishing the stock market would require a restart on the United States as an entity. The stock market is quite closely linked to the banking system. Closing the stock market would crash the US economy into oblivion.

[-] [email protected] 4 points 7 months ago

And no doubt every other closely-tied economy, as well.

[-] [email protected] 1 points 6 months ago

Do they get a tax refund when they take a loss as well?

[-] [email protected] 2 points 7 months ago

Right. So when they sell, they'll get taxed. You can't spend shares.

[-] [email protected] 3 points 6 months ago

The problem is that’s basically what billionaires do, though. They take out loans with their shares as collateral. So on paper they have huge debt, but it’s minuscule compared to their wealth.

this post was submitted on 26 Feb 2024
564 points (92.7% liked)

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