Wir können Ultraeliten nicht einkommenssteuerlich besteuern. Wir müssen ihr Vermögen besteuern.

in point of fact, it’s not entirely „their“ wealth to begin with.

We need to reimagine, then reallocate, returns to productive inputs. Allowing the wealthy to be, effectively, the sole parties responsible for defining what wealth is, what „their“ wealth is, is the more fundamental error. We can & should correct that.

We need to do both. We should add more income tax brackets up to at least 50%, tax all income over $1 million as ordinary income, and institute a wealth tax for anyone with over $100 million of assets. We also need to raise the corporate tax rate to at least 30% and eliminate all the bs write-offs like private jets, 1st class plane tickets, luxury suites at sports events, and concerts.

Wealth taxes are bad policy, and are also likely unconstitutional. There are better (and more realistic) ways

People shouting tax their wealth don’t realize that their 401k and homes are fair game too. Taxing people for unrealized gains no matter how much wealth or value of the assets is dumb. Why should I get taxed for something that is worth millions of dollars if I sold… before selling it? There’s a reason we don’t treat unrealized asset value as taxable income. It’s unrealistic. What you want to do is tax the loan that they take out using the asset as collateral. But again, that creates a problem for middle and lower class once more.

I agree we should tax but spending is our issue. Trillions wasted in the Middle East.

As soon as someone uses their wealth as collateral, it should become a „realized“ gain and be taxable. That one small thing would literally fix a lot of issues. Ahhh, but I forget myself; it’s simply too easy, so it will never happen.

I wish I could use my shares in stock as collateral to buy things, and when I go to pay for these things, I’ll ask other people to let me borrow money from them using the same stock as collateral.

But you can’t tax me on any of this because I didn’t actually sell my stock so I didn’t make any money off of it yet.

Loans using collateral could easily have a component of truing up the cost basis of the underlining asset and force a tax event.  Easy and not hard from an accounting standpoint.  

Also, there should be no cap on Social Security taxes.

I don’t agree with taxing unrealized gains. But I think the easiest and most common sense way to tax stock market billionaires is to tax any loans backed by stock as the same as they are realizing gains based on the loan itself and adjusting cost basis up to the loan value on x number of shares. So for example, someone wants to take out a $40m loan against their stock to buy a yacht, at the time of the loan you look at the price per share and how many shares is backed by the loan – and then when you extract the $40m then your cost basis for those shares rises to the price of the loan for that number of shares and it creates a taxable event. Basically tax loans on asset backed collateral as stepping up the asset cost basis and thus realizing a taxable gain.

Using a house as a stand in for unrealized stock gains may be a simpler example of what I’m talking about (BTW, I don’t think we should do this for single home family owners – it’s just an example). So for example, You bought a house for $100k 5 years ago but the market pushes the value of house to $200k. if you sit on it, then nothing happens (unrealized gains) as nothing is realized or unrealized until you sell it. But if you take out a $50k HELOC based on the $100k appreciation of your house, then you realized $50k in gains and that should/could be taxed as realized gains. It’s just an example so disregard property taxes increases in this example. But if you extract a loan backed by an asset (stock) – that should be counted as capital gains and taxed.

Note: this is the loophole stock billionaires use. They don’t sell their stock, they take out loans against it. It even allows them to deduct the loan as a liability instead of an asset. It’s ass backwards they can do that and why they make low income and even claim they are in debt in a year they take out a massive loan.

What we need is a separate and dedicated tax allocated only to the national defense budget. I call this the “asset protection tax” and would have a small progressive income tax component and a dominant wealth tax component.

Most of the tax revenues from this asset protection tax would come from the rich who need the national defense infrastructure much more than the middle class to protect their worldwide assets.

So by having a tax dedicated to the national defense budget, the warhawks can have as much money as they want for national defense if they have the political will to force the rich to pay for it. Need a couple more Ford-class carrier? Increase the asset protection tax. Need $200 billion to fund a war against Elbonia? Increase the asset protection tax. Need to send $20 billion of smart missiles to Israel? Increase the asset protection tax.

The neocons, warhawks, Zionists, etc. can face off against the billionaire class on how much of the national defense budget to fund each year. The lower and middle class can watch the drama while munching on popcorn.

Income inequality is destroying this country at this point i support far more then just taxing the wealthy. Seize all assets over a billion dollars and imprison those who use there extreme wealth to shape policies for profit or undermine battling climate change.

Make it illegal to borrow against the projected value of equities and strictly financial assets.

Then make every billionaire’s capital gains taxes forcibly short term instead of permitting to take long term gains. Just end „long term“ rates for anyone holding more than $1b.

Force ‚em to give those assets to their children and to otherwise make distributions that are taxable with inheritance taxes or expatriation taxes.

Taxing wealth is the moderate position lol

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Tax the use of capital assets when used , I.E. when I borrow money against my stocks that damn well realizes that asset … then it’s taxable , stop playing silly games .

A 5% wealth tax could pay off our debt in 30
Years.

That’s less than the tax on shoes.

We need to tax leveraging wealth. Not wealth.

There’s an important nuance here in how wealth is used, and prevents arguments from being distracted by those who claim it’s immoral or impossible to tax unrealized gains.

Please, I’m begging anyone who reads this to learn and understand the distinction and why it’s important. Read the majority of negative sentiment in this thread and they will point out the reasons why. Don’t let it be a distraction. Talk about taxing the real problem: leverage.

Just take away their wealth. All of it. Solved.

While we are at it, lets make the government fix their insane spending habits yeah? 

r/georgism taxing land is much more fair because you can’t make more land. Equity is wealth made from the work of others. If you tax income people will want to work less and taxing sales or investment people we’ll sell or buy less but you don’t get that with land. Taxing land based off of land value would make land use much more efficient. Plus you can’t hide it as easily as other assets and it will simplify the tax code.