crazy idea, and will never work - BUT, I do believe allowing people like Musk and Bezos and Gates and Zuckerberg to accumulate $100’s of billions in wealth, borrow tax-free against those appreciated assets instead of taking a paycheck (which would generate a tax bill), and then ultimately, when they die, being able to pass on those appreciated assets to their heirs - also without being taxed because of the stepped up basis rules, is a system that is rigged for the ultra-rich and if there is a way to tax the hell out of these rich liberals, I am OK with it.
Problem is, they will find loopholes and the average guy will get screwed instead.
Yeah and John Roberts called the ACÁ penalty a tax.
The stepped up basis is out last I heard. So that’ll hurt small farmers and business owners worse. The Rich Liberals won’t mind being taxed, they’ll just raise their prices to cover their expenses.
Just wondering if there’s a crash in the market, will the Rich Liberals get a refund?
Or they will go to countries that will treat them better. That’s the thing about socialism, other than it has never, ever worked - you can’t stand in a bucket, lift the handle, and expect to rise above ground.
Less government is better government, and one set of laws for everyone. Pretty simple.
Perfect for farmland grabs.
I want to see Warren Buffet taxed. He is paying under 1%.
How are they paying for their stuff? With no taxes.....