wpb@lemmy.world 11 hours ago
The “it’s not real money until it’s sold” argument is such horseshit. Just give it to me then if it’s not real. It’s like saying the money in your bank account isn’t real until you take it out at an atm. Dumbest shit, but for some reason a super appealing argument because people keep repeating it.
krisevol@lemmus.org 7 hours ago
They can’t give it to you because it’s not real.
Also your money in your account isn’t real until you take it out of the bank is true. You never heard of a rush on the bank? Your bank isn’t keeping most of your money, they are using it. The system only works if everyone believes it works, but if everyone took it the money, 90% of people would find out there money isn’t there.
Same with taxing stocks. It only works if everyone isn’t rushing to the market to sell. If we taxed stocks, the money would have to come from somewhere or the system collapses. This is why no party has dared yet taxing unsold stocks. It would collapse the system.
InputZero@lemmy.world 4 hours ago
Have you heard of a federal reserve? Yes your bank doesn’t have your money, but someone does. Your money someone else has is insured by the federal reserve so bank runs don’t happen. You’re talking about an economy that existed 100 years ago.
krisevol@lemmus.org 3 hours ago
You clearly didn’t know how money works
Mulligrubs@lemmy.world 4 hours ago
You are so very wrong. The Fed does NOT have the cash, nobody does.
It exists only in the banking system itself with no tangible assets to back it up, we don’t have the actual cash to cover even 10% of deposits.
wpb@lemmy.world 7 hours ago
You literally can. You can transfer ownership of stocks.
krisevol@lemmus.org 3 hours ago
How did transferring stick ownership help the common person, or help the government run programs?
Mulligrubs@lemmy.world 4 hours ago
Until you can’t, super dumb argument. We’ve seen these “bank runs” over and over again, they aren’t mysteries.