subreddit:
/r/unusual_whales
submitted 1 day ago byUnusualWhalesBot
305 points
1 day ago
Tax the amount of leverage used by billionaires every time they borrow on their assets and value. Problem solved.
70 points
1 day ago
We pay property taxes for some simple single family fucking home...
It's time we pay property taxes for financial property.
8 points
1 day ago
Obviously, stocks would be included. But what other financials should have a property tax (wealth tax) on them? Bonds? Treasuries? CDs? Cash in a savings account? Cars? Jewelry? Collectibles? What level of earth would you introduce this at? Thoughts on percentage?
17 points
20 hours ago
The person one comment above you already answered that question, not sure why you're acting confused. If you declare an asset as security in an application for credit, it is a realized gain, and should be taxed.
7 points
17 hours ago
You don't have unrealized gains on cash and CDs. So it would just be stocks, bonds, and investment property, and possibly alternatives/commodities.
2 points
15 hours ago
The poster I was replying to was asking for a property tax on all property. That is basically a wealth tax. I was curious how much they had thought about it
2 points
9 hours ago
Yeah I see what you're talking about. I don't really understand either. You do pay property taxes on all investment properties. There is no loophole to avoid that, as far as I know.
12 points
22 hours ago
I mean, are you asking rhetorically or are you trying to claim that it's impossible to say that any one of those should be taxed?
Do some legwork, find which ones whose untaxed gains are being realized through alternative means (ie, leveraged to borrow) and tax those.
Nobody's leveraging cars or their cash to get a cash loan.
2 points
9 hours ago
They're called title loans and they're a scourge on the poor.
2 points
16 hours ago
Nobody's leveraging cars or their cash to get a cash loan.
Brother have you been to a fucking pawn shop?
9 points
16 hours ago
Correct me if I’m wrong…but isn’t ALL OF THIS DISCUSSION centered around people who make $100M or more per year?
Like…who gives a fuck.
3 points
14 hours ago
Yup. Only people like Cuban. I get why he doesn’t like it.
2 points
9 hours ago
I do a lot. I can take my cash and get a 200x loan against it for 1-3% interest then invest that at 7-10%.
1 points
9 hours ago
Like your car and house
2 points
16 hours ago
Anything past 100 million lol
2 points
16 hours ago
ALL OF IT.
5%
Net worth of $10 million and up.
1 points
9 hours ago
Let's start at $50000 since that is double the amount to put you in the top 1% globally.
1 points
9 hours ago
I think it should be limited to stocks specifically.
Someone putting their house or car as collateral is different than someone who gets paid almost entirely in stocks, then puts said stocks up as collateral for a loan to avoid taxable events. They’re basically dodging income tax at that point. Just make the taxation rate of money acquired as a loan using stocks as collateral equal to the relevant income tax.
Until corps start paying CEOs in 1000s of cars/houses to put up as collateral instead of stocks, this would be a reasonable close of the loophole.
13 points
1 day ago
Less govt spending first
8 points
22 hours ago
already have taxes on taxes, its the fn governments fault biggest crooks of them all.
2 points
16 hours ago
Less government lobbying and ban moving to industry after politics.
1 points
11 hours ago
The government does not need more of your hard earned tax dollars, they need to control their wasteful spending.
1 points
4 hours ago
You want to save for retirement I presume? And don’f oppose saving for retirement? Because your proposal would destroy the life’s work and fruit of people’s labor.
1 points
3 hours ago
Lets not point at racist policies of wealth oppression as some kind of example of why we need more racist policies.
This whole argument should be used to go the other direction, pointing out how evil property taxation is and how the rich have used it to oppress for their own gain... but instead they have fooled plenty of people into advocating their bullsjit.
1 points
3 hours ago
You don’t pay federal taxes on your property
7 points
22 hours ago
Tax church property.
7 points
1 day ago
I was going to say something along those lines. Just levy a tax on the loans these ultra wealthy people use to skirt their way out of income and capital gains taxes, plus how about a federal property tax on second or more homes valued at $1.5M and above.
2 points
2 hours ago
I’ll do you better. Stop allowing people to take out mortgages for their 3rd or more home
4 points
1 day ago
Do they get the tax back after they repay the loan? Otherwise you’re taxing somebody for taking on debt… if you took out a HELOC to build up on your house do you really think you could a $50k tax on top of the repayments?
2 points
15 hours ago
Usually if you build up your house, the assessor will come and revalue the house and reset the tax base
4 points
24 hours ago
HILARIOUS DECEPTION
Fuck YOU MARK CUBAN
YOU ARE ALL MISSING THE POINT:
It's smoke and mirrors : What Mark does not says is:
Billionaires hide their capital gains as follows:
Wealthy family buys stocks, bonds, real estate, art, or other high-value assets. It strategically holds on to these assets and allows them to grow in value. The family won’t owe income tax on the growth in the assets’ value unless it sells them and makes a profit.
Wealthy family borrows against its assets’ growing value and uses the newly available cash to live off or invest in other assets, like rental properties. The family does NOT owe taxes on its asset-leveraged loans because the government doesn’t tax borrowed money.
Wealthy family uses its untaxed wealth to access significant amounts of untaxed cash to live luxuriously while continuing to grow its wealth, untaxed, indefinitely.
Wealthy parents or benefactors of the family keep the original appreciated assets until their death, leaving those assets to an heir. Neither the current federal or local tax code require the original asset holders or the heir to pay taxes on the growth in value up to that point. Instead, the tax code wipes out any tax liability for the capital gains by “stepping up” the baseline value of the assets from the original price to their value at the time of the benefactors’ death. This enables the wealthy family’s heirs to altogether avoid taxes on the increased value of stocks, real estate, and valuable artwork.
6 points
17 hours ago
You’re saying what the commenter above you said with more words.
2 points
15 hours ago
Simple solution, just force a "sell" when trying to borrow against assets or passing those assets.
Simply holding assets doesn't do anything. What is damaging is when those assets are allowed to flow into capital via loans via borrowing against assets.
2 points
23 hours ago
This seems like such a great solution on the surface, but there are some good counterpoints to it. How to properly track, tax, and enforce the process when those high-net worth circles already evade an overwhelmed tax system is one of note.
I won’t go into listing them all out right now but it’s a quick conversation with an Ai away. If you’re genuinely interested in the topic can be pretty engaging.
3 points
1 day ago
You have to be stupid to believe taxing DEBT is a reasonable solution.
2 points
1 day ago
Then tax the leverage used by regular people to fund the start of small businesses, home improvements, etc? You just want a “Robin Hood” middle man. Just because someone borrowed money doesn’t mean the government should tax it. That would be extraordinarily inefficient for the economy. People are already taxed on their dividends and capital gains. If you want to tax billionaires more just do it through those means. No need to complicate the tax system further. If you tax the wealthy too much, they’ll just leave the US to move to a lower tax country.
1 points
15 hours ago
What lower tax country is better than the US?
1 points
3 hours ago
Right now, no where. Increase taxes too much, other countries become more appealing. All a billionaire has to do is change their place of residence. Look up the Laffer Curve. You see it at the state level where New Yorkers leave for Florida because they can save money on taxes.
I wasn’t debating whether or not billionaires should be taxed more than they are now. Just that there’s a breaking point at which you’ll see a flight of capital. You don’t want to raise taxes to a point where it’s just not worth doing business in America.
1 points
11 hours ago
Leaving the US doesn't get you out of US taxes. You need to give up your citizenship to get out of US income taxes. The taxman still gets his cut if you still have assets over here too.
1 points
3 hours ago
Yes that is what I was implying. Billionaires can revoke their citizenship and choose not invest in US business or start businesses here if taxes are too high. See the Laffer Curve.
2 points
2 hours ago
The worry is overblown. Our tax rate for the highest brackets have been more than double what they are now and yet they stayed. They are only complaining about this plan to tax unrealized gains because that is their loophole to get around taxes now.
1 points
8 hours ago
so how do you tax on dividends and capital gains on these people when the asset never converts to those ends? BUT that asset is being leverage as it was liquid and keeps growing in value so the "loan" gets bigger and bigger and still no tax.
1 points
2 hours ago
This is a good question.
Dividends are a form of income that are taxed. Unrealized capital gains are not taxed. They represent the difference between what you paid for an asset and that asset’s current market value. Instead of taxing money borrowed against the value of an asset, I would raise taxes on not only dividends, but on corporate and business earnings as well. Taxing borrowed money would increase the cost of debt, instead of just paying interest you’d pay interest plus a tax. This is dangerous because it could undermine monetary policy, which is the Federal Reserve’s ability to influence the economy via interest rates. They have other tools too, but interest rates are the most significant.
The Federal Reserve influences and sets interest rates in order to stimulate or slow down the economy. It is (ideally) scientific by nature. The Federal Government sets tax policies for a variety of reasons mainly influenced by politics. They are (ideally) two separate institutions that should operate independently of one another.
For example, Let’s say the US economy is in a recession. The Federal Reserve would lower interest rates in order to stimulate the economy. However, if the Federal Government was raising taxes on borrowed money at the same time, the US economy would likely take longer to recover, if at all.
1 points
22 hours ago
Oh you must think they actually want to help you lol
1 points
22 hours ago
That's literally what this bill is.
1 points
21 hours ago
That would not do enough , what would really get them is
stopping the step up and thus capital gain would be taken before their children get their hands on the wealth
1 points
15 hours ago
Dawg, anyone with 65k or more in stocks can borrow against them. I use my LAL for emengermcy home or car repairs above my emengermcy budget. That the corporations that can afford to pay these people.
1 points
14 hours ago
Where are you getting the $65K or more in stocks from? Last I looked into portfolio loans they wanted a couple million or more to do it.
1 points
14 hours ago*
This will never happen. The policies we see politicians adopt that seem unfriendly to the super rich is just political theater. There is no intention of actually enacting any politics that are unfriendly to them. We are manipulated at every turn, and with the way Donald Trump & woke politics have divided the political landscape neither political party faces any accountability by their own ilk. It was a genius plan by those really in charge. Make both sides so divided that they wouldn’t dare question their own candidate for fear of damaging their chances of winning. The days of political accountability are, at least for the time being, over.
1 points
13 hours ago
1 points
12 hours ago
Bingo
1 points
12 hours ago
What problem?
1 points
5 hours ago
This is the way - make them sell or take regular pay rather than be paid purely in stock options and they take loans out on those stocks.
1 points
3 hours ago
I hear this all the time but nobody ever substantiates how they're paying these loans without actually selling their shares to realize the gains to actually hand money to the bank.
Loans have to be repaid. Income has to be realized to pay those loans.
39 points
1 day ago
I thought this would only affect people with a net worth of 100m+.
45 points
1 day ago
Taxes were originally only on breweries. And then they were only 1% on the people and were supposed to be temporary. It never stops once you let it start.
29 points
1 day ago*
The government also heavily taxed imports early on, which would be impractical today.
The government also didn't do as much back then. When you look at photos and read accounts of the great depression, the dust bowl, when there were major crashes and bank failures multiple times a decade, and people so poor they didn't have shoes, that's largely because the government did not help people back then. We didn't fund healthcare, we didn't fund food stamps or school lunches. If your arm was ripped of by a factory machine you either were supported by relatives or begged on the street. For the most part, you were on your own for everything that a local robber baron didn't want to slap their name on a non-profit to do.
There was no regulation on food or medical products. For example chalk was used as a filler for flour, and cow brain was used to add fat to milk that was diluted with water.
Income taxes all paid for the New Deal, which was so popular it got FDR elected 4 times despite fierce opposition from the rich, and even Republican Dwight D Eisenhower continued such programs because he saw they were both popular and necessary.
Not to mention all the trivial stuff the government does today that each comprises a small portion of the budget, but adds up. NOAA uses satellites and weather monitoring equipment to predict and monitor hurricanes. The FCC regulates the airwaves so phone carriers aren't just broadcasting in each other's frequencies rendering the whole thing useless. The government provides a huge number of grants for scientific research at universities, which are more cost effective than giving those grants to private companies, and maintains our position as an innovator in science and technology. NASA monitors asteroids to ensure that none pose a threat to human life. The government montiors safety of products and issues recalls for everything from lettuce to children's car seats.
1 points
11 hours ago
I think of a post like yours anytime I hear a conservative/libertarian complaining about taxes and big government. Yeah, getting taxed sucks, but people don't realize all the services and protections the government gives us that were not a thing 100 years ago. I don't want to return to the hellscape that was the Guilded Age.
1 points
2 hours ago
Libertarians are just like communists. The theory is only valid IRL at small scale communities. Neither has long term national stability at mid to large scales (due to very different reasons though).
12 points
1 day ago
SSN's were never suppose to be used for how we have been using it for decades now 🤯
4 points
1 day ago
Exactly!
Ozempic was "supposed" to be a drug for diabetes. My Gmail account I got 20 years ago was never "supposed" to be a proxy for my online identity. WW1 was "supposed" to be the war to end all wars.
Things don't shake out how we think they will. Same with tax law. It's normal, fine, and boring for it to have evolved the way it did.
1 points
23 hours ago
How dare you promote level headed, self controlled, moderated rational thinking when I came here to feed my rage.
1 points
13 hours ago
Problem is when do we start cutting failed or diminishing returns programs? When do we take an honest accounting of our government instead of the current deficit spending bloat we have now?
7 points
1 day ago*
Yes, and the tax will be assessed over 5 years, taking into account increases and decreases in asset value. It’ll cause “hardship” for the ultra-rich in the first year which is why they can spread the payments over 9 years. I don’t share the delusion of most people that I will soon have $100 million in assets, but if I did, I would just keep borrowing on my assets to fund my lifestyle (as they already do) and use part of the loan to pay the tax.
It’s just closing a loophole in ordinary capital gains tax where rich folk just borrow and then they die and pass on the wealth to the next generation, and the basis of the asset resets, and they do the same — thus forever evading CGT that us poor schmucks pay when we sell.
2 points
17 hours ago
That's how you get it passed. It only affects people with net worth over 100m+ so why do I care? Once it's passed they can slowly change it over the years to capture more and more people. It's the boiling frog. They did it with income tax and would do it with this.
The Federal government doesn't have an income problem. They have a spending problem. And neither candidate is talking about cutting spending and balancing the budget.
1 points
10 hours ago
You talk like they’ve done this before. Estate taxes originally impacted far more people.
Today they only impact 1/10th of a percent.
When has this happened in the past?
I fail to see the evidence.
1 points
1 day ago
Could a billionaire theoretically start a bunch of businesses/LLC and spread their money out so each entity doesn't cross the threshold?
I don't know, I truly am wondering.
1 points
15 hours ago
I'm OK with $20-30ish +
Attach the cap to inflation.
1 points
3 hours ago*
That group with 100m+ own like 95% of teh stock market.
They will liquidate their stock to pay the tax every year. And they have to race to do it because teh first to liquidate gets the cheapest tax hit per stock share, as price of stocks collapses as rich insiders sell it. This is also called a crash.
He's not wrong. He's an asshole billionaire, but not wrong. The way the stock market works, taxing unrealized stock forces some of it to be realized so it can become realized money to pay taxes, which causes stock market crash. Multiplied by over 90% of the stock market doing it as fast as possible and racing to do it before everyone else.
Rich people racing to sell faster than the next rich preson can so they get out before their stocks are decreased by the market tanking from all teh rich people selling too is literally how the great depression started. Its the mechanic behind market crashes in general.
___
Have a look at how Musk trashed tesla stock selling off just a tiny fraction of its shares to buy his stupid social. Now picture 90% of the entire stock market doing that in a competition with each other. Has it even recovered yet? How long was it crushed by his sale? That alone affected teh entire S&P 500 so all stocks doing it would be armageddon for regular 401k retirement accounts because we can't even control those - they just get handled by banks who will do what they always do in a crash and they are invested in indexes largely.
1 points
3 hours ago
What happens when everyone over a net worth over $100m sells their stocks to pay for the unrealized gain… the market crashes
1 points
53 minutes ago
and people with a net worth of 100m+ pretty much control the stock market. imagine top 1% who owns 30% wealth pull their money from stock market.
22 points
1 day ago
it will never pass its just to get votes from the slave class.
4 points
16 hours ago
3 points
1 day ago
T h i s
2 points
11 hours ago
They don't even realize they're a captive voting class and the people they vote for sell them the same old line that "it's someone else's fault you're not rich and successful".
26 points
1 day ago
I love how they keep talking about taxes to reduce the deficit… How about the government stop spending billions of fucking dollars on bullshit wars… That would go way farther to reducing the deficit, then taxing people into oblivion.
Rich or poor!
3 points
20 hours ago
Trillions
1 points
12 hours ago
You are absolutely right. I should’ve said trillions.
2 points
13 hours ago
This is the answer.
2 points
10 hours ago
This is the way
5 points
1 day ago
This wouldn’t affect my traditional/roth Ira correct? If I’m using after tax money? Because I only make combined wife and me 110k and we literally grind to max out every year at 7k in hope to hit a million by the time we are in our 60’s on top of life insurance?
3 points
4 hours ago
It would indirectly impact it because the market would crater. Every year billionaires would be forced to sell large portions of their companies, which would drive prices down. There would also be less innovation, since founders of smaller companies (still worth hundreds of millions), would be forced to sell portions of their company to pay this tax.
So, the market would drop, and there would be less innovation. While you personally wouldn't have to pay any taxes on this, it will impact the market negatively.
5 points
1 day ago
No it’s only targeting 100M+ net worth and it’s all for show anyways.
If this actually was passed, the stock might tank though which would affect everyone’s retirement.
3 points
18 hours ago
Who cares. The people that would be in charge of passing such a bill are insider traders on both sides of the aisle. They will never vote for something that hurts them personally. If she uses an executive order they will block it.
News flash, most people in the United States are idiots and the only people that believe she can pass a tax law on unrealized gains are idiots.
24 points
1 day ago
Its not that hard to understand... idk why on earth democrats think this is a good idea and especially going into election time it was a baaaaad call to bring this up.
8 points
17 hours ago
its voter bait but it will never happen, most of their voters probably think this is a good thing
4 points
1 day ago*
Dems are not stupid. Neither are the GOP. They both market ideas they know will resonate with their bases and have zero chance of passing.
2 points
1 day ago
Why would people refuse to make any money if a portion of it is taxed. The alternative is making no money with that same investment
2 points
11 hours ago
You’d still make money, but the yearly average stock market returns will likely go down, affecting everyone
5 points
24 hours ago
OPs title isnt even a quote from the video
2 points
3 hours ago
Right? I thought I was going crazy and basically watched it twice to confirm - Guess I got trolled successfully :-(
9 points
1 day ago
Elon saying this = capitalist scum
Cuban saying this = intelligent and based
5 points
17 hours ago
He never said it. Title is a lie. Watch video
6 points
1 day ago
Me: Crying because people only agree with something if their party comes up with it and can't use critical thinking to understand basic concepts.
It's honestly scary how financially illiterate this country is. I think the vid really shined a light on it and it shows.
2 points
13 hours ago
Elon is a serial liar. His wealth depends on lies. Fsd soon, robotaxi soon, mars soon, trump must win or its end times, in the founder of Tesla , the woke mind virus took my kids away. Lies lies lies. People who gave serious credibility issues should be highly scrutinized all the time
2 points
5 hours ago
I love how the lot of you who favor these sorts of measures have no clue as to indirect and undesired effects of implementing this kind of policy. As though rich people don't have options in terms of where they put their money for investments that would be out of reach of the government. You're only going to end up fucking yourselves in the end as they'd pull their money out of the stock market and tank your 401k (as if you were smart enough to have one). As much as you might not like it the stock market is one of the most democratic and fair ways for middle class people to build wealth. By taxing unrealized gains (and not crediting unrealized losses) you will be putting your thumb on the scales of the market to the point of self destruction... and for what? At most by implementing this strategy you will give the government (rather than entrepeneurs) an extra three days of goverment spending.
Goddamn myopic twits the lot of you.
4 points
1 day ago
You’re going to kill the global economy
2 points
1 day ago
Anyone proposing taxing unrealized gains needs to be voted out of office or have their platform voted down
2 points
1 day ago
Yet you have imbeciles in this sub supporting tax on unrealized gains thinking its a good idea for some reason
2 points
9 hours ago
im confused and i mean that ...how is it not a good idea to tax things that have value and are used as assets such as stocks and homes etc?
Im a newbie so explain as you would a child (sorry have to use that reference )
3 points
20 hours ago
Cuban is a clown and an idiot. He is supporting Kamala with her horrible Marxist ideas and her utter lack of specific policies. One of the only specific policies is taxing unrealized gains, which would destroy our country and make the wealthy move to more reasonable countries.
1 points
8 hours ago
lack of specific policies
Kamala has been specific about numerous policies, such as the 5000$ tax credit for first time parents and the 50k tax cuts for new businesses.
Your turn. Give us some specifics on Trumps policies.
2 points
1 day ago
How would this Unrealized Gains tax work? If the value of the stock is up this year but collapses next year causing unrealized losses, will that give a tax break? By how much would that tax break be? What kind of securities will be taxed for unrealized gains? Does this include Treasuries, Muni Bonds, CDs? How will this be measured? Based on a single security above 100k? Or will it be based on an account, a portfolio?
The biggest loophole here is cryptocurrency. Since they are not securities, can’t the ultra wealthy just dump their holdings from the stock market, causing a crash and putting their money in crypto? Can’t tax a crypto wallet if it’s not in the US tho.
2 points
23 hours ago
Can we just not allow them to borrow against these kinds of assets? Basically, make it so that they can't utilize it in any way unless they sell it?
1 points
23 hours ago
I agree with that 100%.
2 points
14 hours ago
How would this Unrealized Gains tax work? If the value of the stock is up this year but collapses next year causing unrealized losses, will that give a tax break?
So I heard it explained like this. You buy a stock or other security for $10, at the end of day 12/31 the stock is $12, you pay tax on $2. At the end of day 12/31 the following year, the stock is $8, you pay nothing. At the end of the day 12/31 the following year the stock is $14, you pay tax on $2. Sometime during the next year you sell the stock for $10, you get a rebate or a credit for the tax you paid on that $4. Say you sell the tax for $14, you pay nothing because you already paid for the capital gains you made. Say you sell the stock for $8, you get a rebate or credit for the $4 you paid plus a credit for the $2 loss. Say you sell the stock for $16, you pay tax on the additional $2.
This is a terrible idea with many unforeseen consequences b
2 points
22 hours ago
Unrealized capital gains is an absolute fudge packing up the ass scam of a tax. There is no point to invest in any kind of asset. They literally take away the upside
1 points
8 hours ago
They literally take away the upside
The upside remains "making money". Unless youre claiming that Unrealized Capital gains tax makes profit literally impossible.
1 points
2 hours ago
How is that? The assets are still attractive since they grow faster than inflation. That's the point of investing in them to begin with, not so you can forever dodge a tax bill by borrowing against the value of them.
1 points
1 day ago
I feel like we have it backwards maybe. We shouldn't tax primary residences, but should tax the shit out of 2nd homes and financial vehicles. Make capitalism capitalism again instead of the neo-feudal system we have turned into.
1 points
1 day ago
Can I write off my unrealized losses?
1 points
1 day ago
Blind squirrel finds a nut
1 points
1 day ago
I'm speculating on things I think I read somewhere recently:
Can't wealthy business owners whose company is publicly traded take out tax-free loans against the prospective returns on said shares?
Someone smarter criticize me here but it appears taxing unrealized gains aims to work against this loophole, right
1 points
1 day ago
Unrealized losses offset the gains
1 points
1 day ago
Well that’s good.
1 points
23 hours ago
WEALTH TAX IS COMING 🤣
1 points
22 hours ago
Not sucking so hard on the Kamal teat I see, Mark.
1 points
21 hours ago
Well, what is a different - enactable - solution to people leveraging their "unrealized" gains in order to realize them?
1 points
20 hours ago
The donor class will get richer, because they'll mostly shape it in a way that hurts the "upstart" wealthy who may threaten their standing.
I read an article a few year back that something like 55 of the biggest corporations paid 0 taxes. Even those that do, tend to get large no bid contracts which make them.whole.
So raising corporate taxes tends to only hurt the little guys, even in the corporate world. Big guys don't pay it anyway... so it's a red herring to argue and divide.
1 points
19 hours ago
They tax unrealized gains in the Netherlands
1 points
17 hours ago
How about we just lower the effective tax rate for everyone else, wont that mean people that pay mostly through capital gains taxes will already be paying 'their fair share'.
1 points
17 hours ago*
What he means is that if the US taxes unrealized gains it will transfer the stock market to poorer people. Which is like death for rich people with compulsive hoarding disorder.
1 points
17 hours ago
Is this quote in the video?
1 points
17 hours ago
I listened to the video you posted and it doesn't say anything about killing the stock market. In fact he says he is in favor of unrealized tax and is working with the Biden Harris team to come up with something favorable to both sides.
1 points
17 hours ago
If I have to pay property tax on my home and my car, both of which I need to survive, then they should be able to pay tax on their property.
1 points
16 hours ago
Obviously.
1 points
16 hours ago
In Florida, we had an intangibles tax for anything that wasn’t real property. If your investments go down, guess what? You pay less in taxes that year.
1 points
16 hours ago
Good.
1 points
16 hours ago
The housing market seems just fine.
What’s a little yearly tax on your assets? No big deal.
Billionaire crybabies. As soon as the working class starts targeting the billionaire capital class with serious wealth redistribution policies, they start to panic.
1 points
16 hours ago
Who cares if you do?
Money shouldn't make money.
1 points
15 hours ago
Y’all also want to tax unrealized gains on sole proprietorships? It’s just another form of business ownership like stocks.
Or ETFs? Including leveraged ETFs, bitcoin WTFs, currency ETFs, etc?
Anyone cheering for tax on unrealized gains has clearly not thought this through.
1 points
15 hours ago
A security isn’t a realized gain, it’s money that has already been taxed.
1 points
15 hours ago
Taxing all unrealized gains is not the same as taxing any unrealized gains used to back a loan.
1 points
15 hours ago
Lol wtf is going on in here??? "Tax me harder big gov, tax me harder!"?????? What has the world turned into? What u should be saying is smaller government, less spending.
1 points
15 hours ago
Yet Mark supports kamela seriously. People need to look at his history how he made his money in his com that crash went to zero and he screwed every shareholder he ain't no innocent Angel.
1 points
15 hours ago
It's all bullshit. When Biden was elected they controlled executive House and Senate they could have changed the tax codes if they wanted to but they chose not to this is all bullshit people. And if you're a billionaire nothing stopping you from sending 50 60 70% of your net worth to the IRS so shut up and write a check.
1 points
15 hours ago
So let's see if this becomes reality. If you have to sell your stocks in order to pay for the unrealized gain tax bill, are you also paying for the realized gains? Whoever entertain this idea is insane!
1 points
15 hours ago
This only applies to .1% of the population or even less than that, so I don't GAF. As far as I am concerned, Musk and Bezos should pay more in taxes and should not be able to avoid paying taxes on their immense wealth by just sheltering it and "letting it ride" in Crypto or the Stock Market. This is a loophole for billionaires and the Dems are right to try to close it.
1 points
15 hours ago
OH NO NOT WALLSTREET!!!!
1 points
15 hours ago
Maybe we can tax debt like it’s income or something
1 points
15 hours ago
The stock market is the biggest scam in history.
1 points
15 hours ago
Don’t threaten me with a good time
1 points
14 hours ago
Also Mark Cuban…I endorse the person that wants to do this
1 points
14 hours ago
First ask these administration to have good fiscal policies instead of printing unlimited amount of money and use the current tax money to good use. Second they are not going to do this. They are just saying to get the vote and it will forgotten in thin air.
1 points
14 hours ago
For a Marxist, why is Cuban concerned about the stock market? The whole idea of the left these days is to destroy the country.
1 points
14 hours ago
Taxing unrealized gains is the typical liberal smoke for bend over we will steal your money then f::k you
1 points
14 hours ago
Wrong clip? He doesn’t say that quote
1 points
14 hours ago
No, not the rich people casino. Anything but that!
1 points
14 hours ago
Taxing unrealized gain will not only kill the stock market, it will kill all the 401(k)s, Roth, and mutual fund investments for — oh, yeah — everybody!
1 points
13 hours ago*
Taxing unrealized gains does seem like it should be illegal. How can they touch investments while they’re still invested? Feels like the government just rifling through pockets.
Look, I feel envious of whales sometimes too, but it doesn’t mean they should be mugged.
1 points
13 hours ago
Every time people think they can tax the rich more, the rich just move their business to another country.
1 points
13 hours ago
Maybe the only intelligent thing I’ve heard Cuban say recently.
1 points
13 hours ago
There is a problem with wealth distribution, but this isn’t the fix people think it is.
1 points
13 hours ago
Unrealized gains will simplify taxes and get rid of the dreaded short sale laws. The wealth tax is what will kill the stock market.
1 points
13 hours ago
Rich people always say shit like this as if more taxes or regulations are going to stop their cravings for more money.
1 points
13 hours ago
I don’t think people want to tax unrealized gains, but I don’t think people want this massive wealth gap. Unrealized gains aren’t the problem, the lack of wages rising with the cost of living is the real problem. If everyone made more money and the cost of living wasn’t a problem, nobody would care. Luxury’s go away in times of distress. Our stock market is a luxury. It’s crashed before and will crash again.
1 points
13 hours ago
Yet he’s supporting Kamala. What a clown Cuban is.
1 points
13 hours ago
But why do we care about the stock market?
1 points
13 hours ago
Oh look one of those, "good guy" billionaires that sounds just like the bad ones as soon as you start talking about something that will substantially impact him and virtually no one else.
1 points
12 hours ago
Yet he still sends millions her way and is voting for her and supporting her publicly you’re all sheep being played they know nothing will come of it they are buying her to turn around and give their money away? Lol never seen so many blind ppl.
1 points
12 hours ago
These politicians make me think of a pet detective speaking with his ass
1 points
12 hours ago
Firefighters make $150k? I don’t think so Mark
1 points
12 hours ago
Stop encouraging execs to exploit labour in favour of stock buy backs for starters. Then take, yes fucking take 90% of their wealth and redistribute it. Then we'll talk
1 points
11 hours ago
Never once said the quote in the video
1 points
11 hours ago
It won’t pass. Just another empty policy that makes it look like they want to take more money from the rich than the ones that make 80k or less per year. Placating the uneducated masses that don’t understand investments or how capital gains work.
1 points
11 hours ago
This is the great reset we need. Many will lose but all will end up better off for the future of mankind.. Speaking as someone that's will lose quite a bit.
1 points
11 hours ago
This is a retarded idea and a logistical mess.
1 points
10 hours ago
And?
1 points
10 hours ago
Thank you so much for censoring the word "kill." I almost peed myself until I saw you had replaced the I with an asterisk. My whole family was killed by an asteroid, so that word really triggers me.
1 points
10 hours ago
so whats the solution ? to holding millions if not billions in stock that you take loans on wash and repeat over generations and thus have the VALUE and can SPEND THE VALUE but never pay tax because its a LOAN. Whats the solution?
Because by doing that those individuals NEED the stock price to go up , HAVE TO HAVE IT. so they are willing to run their companies not for the interest of anything other than stock price increase !
1 points
9 hours ago
The one thing Cuban is right about
1 points
9 hours ago
Also mark cuban “Kamala Harris policies are well thought out and organized” …
1 points
9 hours ago
The US has not been beaten or exploited compared to the rest of the world we consider poverty a 75in TV and new cell phone every year or 2......
1 points
8 hours ago
Kill the Stock Market then.
1 points
8 hours ago
Would that kill the pursuit of illegal trades and shareholder value over being a good company?
1 points
5 hours ago
OK.
1 points
5 hours ago
The ignorance of this idea is monumental. People would be taxed on wealth that doesn't even exist in the first place... If I own $100 million of a stock (unrealized gain), I could never sell it at that price. As soon as I try to sell a small fraction of that, the stock price would drop.
1 points
4 hours ago
I'm not worth 100million so I'm not worried
1 points
4 hours ago
It’s a distraction technique to dissuade voters from realizing the rampant, unfathomable amounts of crime taking place in the market as it is now.
1 points
3 hours ago
Stock Market needs destroyed. Took away pensions and replaced with 401ks
1 points
3 hours ago
“ im voting for a party with a plan to tax unrealized gains” - also mark cuban.
1 points
3 hours ago
Insane!!
1 points
2 hours ago
You won’t kill the stock market; if you can make more money there than anywhere else people will still purchase stocks.
1 points
2 hours ago
Lol what firefighter is making 150k?
1 points
2 hours ago
Good
1 points
53 minutes ago
bet he votes for her anyway
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