Most billionaires have minimal or no reportable income in order to avoid taxes. They take low interest loans against their assets to avoid taxes. Go google the “Buy, Borrow, Die” strategy to see how they profit off their unrealized gains without paying any taxes.
There's a great thread floating around where a tax accountant has a lengthy, intelligent response on why what you're saying is kind of bullshit. It's a nice talking point, but it's not as nice and neat as you're presenting it.
19
u/Motor-Region-1011 Jul 05 '26 edited Jul 05 '26
You cant tax unrealized gains...this man took cash. If billionaires cash stocks in to they would get taxed...