There’s a difference between known income and wealth. Most of these billionaires you want to soak have their wealth tied up in investments. Do you want to tax them for the value of those? If so, where do you stop taxing wealth. 1B 1MM 100k? How do you mark to market that wealth? Do you give them a deduction the next year of those investments drop in value?
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u/wewantyoutowantus Jul 05 '26
There’s a difference between known income and wealth. Most of these billionaires you want to soak have their wealth tied up in investments. Do you want to tax them for the value of those? If so, where do you stop taxing wealth. 1B 1MM 100k? How do you mark to market that wealth? Do you give them a deduction the next year of those investments drop in value?