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/biz/ - Business & Finance

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18723218 No.18723218 [Reply] [Original]

I've been trying to understand the idea to tax the ultra rich and I have one simple question about it: How would you do that without destroying wealth for the rest of Americans?

A lot of these plans target people based on net worth and then say "you owe this % of your net worth". In order to do that they would have to sell a lot of shares, dropping the value of the securities they own significantly. The example I understand is Bezos -- if he has a net worth of 100 billion ( he actually has more) and the US wants to collect 1% of that because he has too much money (this was warren's plan) he would have to sell 1 billion dollars worth of Amazon stock. 1 Billion dollars of Amazon being sold is more than 200 times the average daily volume for that stock. The selling pressure of bezos alone would weigh down the thing, simultaneously lowering the value of a lot of people's 401ks.

When i think about it across other ways the ultra-rich have their net worth (gold, real estate), a similar problem seems to emerge. How is this feasible? Is the ultra wealth tax only made on actual realized gains? If so, it seems like it would generate a lot less cash than anticipated.

>> No.18723251

>>18723218
Taxation is theft and should be abolished.

>> No.18723356
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18723356

The only realistic way to soak the rich in a way that actually generates tax revenue would be to jack up taxes on income from whatever source derived over a high number ie. $2.5 million single, $5 million married filed jointly

>> No.18723474

>>18723251
But what about muh roads and schools and police department

>> No.18723504

>>18723218
Best way to do it is find communists and kill them.

>> No.18723761

>>18723218
>How could we realistically tax the Ultra-Rich?
By way of the good ol' guillotine.

>> No.18723781

>>18723356
In general, taxes only affect people who aren't rich because the rich can afford a billion different tricks to avoid most or all taxes. From being paid in tax-advantaged items to hiding the money offshore to laundering it through a non-profit they themselves own to (((charitable donations))), no amount of taxes on the rich will ever actually affect the rich. It will only affect people who gain an inheritance, or win the lottery.

>> No.18724920

You can't.
We need to dramatically cut government spending and abolish central banking.

Taxing the rich won't actually help us because money does not equal resources. It wouldn't make us any better off.

>> No.18724946

>>18723504
Based
>>18723761
Cringe

>>18723474
>he thinks thats all his taxes go towards
the vast majority of the money is wasted anyway
Also schools should be privatized.

>> No.18724964

>>18723218
Tax em with an ultra-rich heaping amount of AL DENTE pasta.