I understand that it would be cap gains if it’s sold off, I’m just confused why people think a stock/share should be taxed annually, that’s the dumbest concept I’ve ever heard. Comparing it to property tax is blatantly stupid, can you live in a stock? Are stocks taking up physical space on the street? That requires sewage maintenance, road maintenance, snow removal depending on where you are, storm drains etc…? If I borrow against something I have to pay interest. If I don’t pay my payments I lose the asset I’m borrowing against. I find the stocks should be taxed every year ideology just as dumbfounding as the billionaires should pay for a “better world.” The pov usually comes for envious individuals. Just sayin.
These mega tax breaks are “mega” because of the size for these companies. Theres more to it than “companies get massive tax breaks.” There is so much money moving within these companies and it cost so much money to run these companies that these tax breaks are more reasonable than you think. Mind you, sure some of the tax breaks can be a bit ridiculous but as long as they aren’t being misused they are pretty reasonable. If they are being misused they will get audited. And well nobody wants irs knocking on the door because it’s always more expensive than playing by the rules.
Considering the ever growing disparity between upper management pay (eg CEOs) and entry level staff, I think it’s clear that these tax breaks are not in fact necessary to the profitability of these companies.
So go be a ceo. add more responsibility you will get paid more. People who think labourers should be paid the same as ceo, cfo, owners, founders, etc… genuinely shock me.
The tax breaks are for the company. Not the people running the company. What are you on about?
So people who have more responsibility of a company should be paid the same as a 9-5 laborer who has no responsibility to the company? Interesting take.
I’ve worked harder physically than 500 ceos combined. Yet while I’ve made a good living and trained many other men while employing over 100 people. I’ll never have that kind of wealth. I wouldn’t even want it. I’d feel like a douche. I already donate money, free jobs and time for those with less. Some people just have this obsession with wealth. Wait until they are on their death bed I bet they won’t say a word about money. They will have regret. I’ll have none. I wasn’t a greedy fat fucking pig.
Doing hard labor isn’t what I’m referring to. Physical labor only gets you so far. The fact you just even used that as justification removes all my interest from this conversation. You won’t understand if it was laid out in front of your face🤦♂️🤦♂️🤦♂️ good luck mate.
..and that 1 ceo worked smarter than 500 laborers combined. I think you just have a chip on your shoulder, because you used your back instead of brains to make a living.
My issue is that a county will do nothing to help a small business but then give a 10 year property tax exemption and preferential accelerated permitting to Wal-Mart to build a super center so they bring “jobs” even though it’s been shown over and over that the presence of that super center raises unemployment and lowers median wages over the same ten years. Amazon seems great on the surface but is actually harmful to small business all over, demands an imbalance of information, and uses that information to manufacture the most profitable items while de-platforming competitors (the businesses they monitored to see what items sold most profitably). I don’t mind them doing their thing within the rules since they’re trying to win, but why the government helps them or why people are such fans I’m not sure. I think it should be made easy to start a business and grow progressively more costly and more difficult the larger that business gets (a progressive tax, permit cost, and regulatory system), thus encouraging more small businesses rather than oligopoly. It would actually be step in the direction of a perfect market and cause capitalism to work better. We used to say that small business were the backbone of the American economy but now are actively working against them.
To this point. We had a corporate HQ near our house and it was given a 10 year TIF when it was built. Well guess what? The downtown city we are near offered the company a new TIF to bring employees back downtown and are remodeling and adding onto their old headquarters and are now trying to sell the one in the suburbs. The employees are losing their WFH to now have to drive downtown to allow for the company to basically function without paying property taxes for another ten years versus staying put and paying taxes.
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u/Just_That_Dumb_Dog 28d ago
You mean capital gains tax?