I'm pretty sure that Congress would never pass a law when it starts affecting THEM. Any Senator/Congressman who has more than a million dollars in stock would never let things get out of hand like that. Also, we already tax unrealized asset gains through property tax. In many states, they have someone appraise your home and your property tax bill adjusts accordingly. As I said before, I don't believe in taxing unrealized gains but this type of bad legislation doesn't scare me at all.



Fine, bad example. My point is, NO ONE agrees with a party platform 100%. You just go with the best option you have. That doesn't mean you aren't partially responsible for said policy though because of your vote.

It also pisses me off when I see headlines about billionaires getting richer during the pandemic. Yea, I did too. It's called owning stock you Marxist fucks.




Do we even know how much revenue is at stake from finding a way to tax them for this method? I can't imagine it being very much. That doesn't mean that we shouldn't find a way to address a very clear loophole though.

Not sure on this specific loophole, but blatantly illegal tax dodging from billionaires and their companies is something like a quarter to half the 2019 government deficit.

There's a lot of things we need to close.

stock gains are great and all, and i too am bothered by people who claim Elon getting his net worth inflated by stock fanboys means he needs to get taxed insanely (as if they'll tax unrealized stock gains lmao), but amazon and basically any online ship to customer retailer got insanely rich during the pandemic. all while large corporations took a hammering in retail, not that i'll cry for walmart.

Regular people do this all of the time; it's called a reverse mortgage.

Borrowing against assets is normal behavior, not some nefarious loophole. Elon is not spending nearly enough (I would be shocked if it was >$10 mn) that he would have to dilute ownership in order to afford his lifestyle. It's just more convenient.

Where we should be spending our effort is eliminating unnecessary tax deductions that corporations use to reduce their liability to zero. Not increasing rates (at least not now), and not introducing radically new forms of taxation.

Don't forget HELOC as well. Pretty much every family in CA used that since housing prices exploded during the 90s and early 2000s. Like I said to Thor, I'm not sure how much of a problem this is though. Does it piss people off...yea. But people on welfare who do drugs pisses people off too. That doesn't mean we need to create a policy that causes more problems than it solves though.

I definitely think there are more lucritive problems to solve first. Just cracking down on tax cheats would erase a significant portion of the deficit on its own.

i suggest we make fentanyl even stronger and just let the problem work itself out.

But those assets have to be real. They can't be unrealized gains.

Actually, isn't this how Fanny Mae got into trouble? They were giving people loans based on the values of their homes, which had gone up, but weren't real gains because no real transactions had taken place.

the 81+ million who voted for the most popular president ever definitely do. it was worth it to defeat the orange man. and yes you are responsible. evidently every trump supporter was responsible for all the “bad” that happened and all of the good (like full employment and record job numbers until covid ravaged the west) was just lucky circumstance

bold: why does it piss you off when you voted for this rhetoric?

it isnt “cheating” to borrow against assets. you dont even pay your debts back you pale pasty privileged lefty lol

Musk absolutely destroyed your nonsense rhetoric. bunch of fucking native pale people who dont produce anything of value wanting to tax the most successful African American ever into oblivion. you fucking racist scumbags