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Temporarily embarrassed millionaires pt. 2
(sh.itjust.works)
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this post was submitted on 15 Jan 2024
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An income tax would be pointless for the wealthy. Most of their wealth is in unrealized capital gains or other investment vehicles, not from salaries.
There would need to be a mechanism to tax unrealized capital gains, or just networth in general.
Yes because there's no chance that this would end up having to be paid by every homeowner whose house has gone up in value since they bought it while rich people would just find another loophole to avoid it, while the government would piss all that extra money away on wasteful spending without addressing any actual problems.
Heh, this post is about you.
They're not wrong. The people who would write these laws are paid for by the people who would be negatively impacted by them, so I guarantee they'd be full of loopholes.
I hope you love your landlord, because with that attitude, you'll never own a home.