They have to sell part of there action. If I can’t pay a debt, can i tell them you can’t smake me sell my actions to reimburse my debt…
Comment on just temporarily embarrassed billionaires, one good idea or lottery ticket from making it rich
krisevol@lemmus.org 4 days agoPlus it didn’t explain were the money comes from. Bazos makes 80k a year, and his stocks go up in value which is why good net worth goes up. If we taxes his unrealized gains where the money come from?
Diurnambule@jlai.lu 3 days ago
krisevol@lemmus.org 3 days ago
So every billionaire is going to selling stocks. You do realize the owners is these stocks are going to either be china or Black Rock if that happens. They are the only ones that would be able to afford to buy them. It would be a massive transfer of weath to big corporations or even worse a foreign country.
Corgwn@programming.dev 3 days ago
An idea I’ve come across is to tax the shares directly into a fund held by the IRS to be sold over time on the market. I haven’t extensively thought through it myself, but that could help spread the buying period allowing more people/orgs to afford to buy it. Also helps the market not crash every year when everyone is forced to sell.
Diurnambule@jlai.lu 3 days ago
They did it for a bitcoin hack or scam too. They sell it by small amount and reimburse the scammed.
krisevol@lemmus.org 3 days ago
So basically lower the stock returns by devaluing the gains and giving Black Rock all our stocks. The only thing i see happening with that is it’s people are not going to be able to retire and they will need to work more because the returns in the market will vaporize their chance to retire.
When the rich move to inventing in hard assets instead of the market, housing will go up as investors buy up the market. Meaning taxing the unraised gains will cause more people to be priced out of housing as well.
Narauko@lemmy.world 4 days ago
We need a way to tax when stock valuation is used as collateral for loans and revolving credit, enabling people from Bezos to have paper income of 80K and realizing gains without actually realizing gains. A general wealth tax, especially on unrealized gains, is obviously dumb, but the ghost gains loophole needs to be closed.
BarneyPiccolo@lemmy.today 3 days ago
Bottom line is that stock valuation shouldn’t be allowed to be use for collateral. If it doesn’t exist for tax purposes, then it doesn’t exist for collateral purposes. You want billions of dollars to play with? Liquidate your assets, pay your taxes, and have fun.