No. But a tax on unrealized capital gains is a dumb policy. Doesn’t matter if it is to 100% of population or .1% of population.
Trump 2024 Run Thread
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Well, I am impressed you admit it is not a fair and just policy. Kudos.
He just constantly creates his own reality and all the people around him keep the grift up for him and pretend it's real
"She's not having success. I'm having success!" Former President Trump dismisses the notion that VP Kamala Harris is having "success" in polls. (TLP)
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"She's not having success. I'm having success!" Former President Trump dismisses the notion that VP Kamala Harris is having "success" in polls. (TLP)
Chris Sapphire (@mrchrissapphire) on Threads
"She's not having success. I'm having success!" Former President Trump dismisses the notion that VP Kamala Harris is having "success" in polls. (TLP)
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So the wealthiest class in this country have found a tax loophole by financing debt in order to avoid paying taxes. This seems like an attempt to address that loophole.
Closing the billionaire borrowing loophole would strengthen the progressivity of the U.S. tax code
How closing the borrowing loophole on the super wealthy would combat U.S. income inequality and raise more than $100 billion for our nation.
equitablegrowth.org
Address that issue by making borrowing more than your basis in the stock you use as collateral taxable. If you borrow $50M against a stock that has a basis of $10M —- then you have a $40M taxable capital net gain. To keep from getting double taxed you receive a step-up to your basis.So the wealthiest class in this country have found a tax loophole by financing debt in order to avoid paying taxes. This seems like an attempt to address that loophole.
Closing the billionaire borrowing loophole would strengthen the progressivity of the U.S. tax code
How closing the borrowing loophole on the super wealthy would combat U.S. income inequality and raise more than $100 billion for our nation.
This would be a more fair, just, and feasible way to enforce.
EDIT: Just now reading your link and see they propose a similar solution. I guess we both read Bill Ackman.
Lol, no wonder we're close to agreeing here! Thanks for the info btw. I don't have any strong opinions on this except that taxing unrealized gains on every American would be terrible. I actually don't agree with taxing realized gains either since we're the ones taking all the risk.
BREAKING: RFK Jr. claims Trump asked for him to join his administration.
"He has asked to enlist me in his administration."
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"He has asked to enlist me in his administration."
American Bridge 21st Century (@american_bridge) on Threads
BREAKING: RFK Jr. claims Trump asked for him to join his administration. "He has asked to enlist me in his administration."
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Within an hour of Kennedy’s address ending, emails and texts blasted out declaring Kennedy and Trump would together “dismantle the deep state” and usher in world peace.
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The Daily Beast (@thedailybeast) on Threads
Within an hour of Kennedy’s address ending, emails and texts blasted out declaring Kennedy and Trump would together “dismantle the deep state” and usher in world peace.
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BREAKING: RFK Jr. claims Trump asked for him to join his administration.
"He has asked to enlist me in his administration."
American Bridge 21st Century (@american_bridge) on Threads
BREAKING: RFK Jr. claims Trump asked for him to join his administration. "He has asked to enlist me in his administration."
How Trump asked:
Seriously though, this could impact the voting decisions of dozens, maybe even hundreds of voters.
3 months ago, Trump’s official spokesperson called RFK Jr a communist.
Now she calls him a patriot.
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Now she calls him a patriot.
Ron Filipkowski (@ronaldfilipkowski) on Threads
3 months ago, Trump’s official spokesperson called RFK Jr a communist. Now she calls him a patriot.
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What??!!
Trump: In 74 days, we will take over our country
Trump: In 74 days, we will take over our country
RFK Jr posted a lengthy tweet in May stating “Trump scammed American workers.”
The tweet listed several reasons for not supporting Trump and ended with RFK Jr stating:
“If you think a second Trump term would be any different, you are engaging in wishful thinking.”
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The tweet listed several reasons for not supporting Trump and ended with RFK Jr stating:
“If you think a second Trump term would be any different, you are engaging in wishful thinking.”
🇺🇦Barbara Sobel🇮🇱Slava Ukraini (@barbaraj.sobel) on Threads
RFK Jr posted a lengthy tweet in May stating “Trump scammed American workers.” The tweet listed several reasons for not supporting Trump and ended with RFK Jr stating: “If you think a second Trump term would be any different, you are engaging in wishful thinking.”
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Trump's tax cuts were not fair and just. For some reason, no cries out of you about those.
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Not just? Government revenue is money taken from taxpayers. Taking less from taxpayers and giving more personal freedoms to citizens should be something we all value. Even with the reduction, government revenues increased.
Not fair? JTCA not only lowered most every tax bracket, and according to both the NYTimes and WaPo lowered overall incomes taxes for a majority of Americans, but it has also doubled the standard deduction.
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mugatu
Ranger
JT only cares about lowering taxes. It's literally his only wish in this world. He wants to not pay taxes no matter what has to be given up. All taxes are unjust to him so anything that lowers them is the best thing ever.
Maybe a bit if exaggeration but not much.
You are close to correct. Personal freedoms that don’t negatively affect public safety are definitely my #1 political issue. And taxes definitely play a part in that.
To be clear, I don’t advocate zero taxes. And very pro Social Security for our seniors. Just limited taxes to go with a limited government.
Lower taxes =/= fiscal responsibility. Especially with the national debt where it is now.
We need to close tax loopholes and lower expenditures to pay down the debt before we can cut taxes.
We need to close tax loopholes and lower expenditures to pay down the debt before we can cut taxes.
Picking certain industries that are favored over others is not just, not fair, and is unjust to far more people than a tax on 0.14% of the population.
So pro-seniors and anti-future citizens.
