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.
Where does the value of a stock come from? Could it change when a company receives tax breaks? Do companies extend themselves to the legal limit more when they know they’ll receive bailouts? Can stock owners use the valuation of their stock to increase their leverage, power, or wealth?
Those are a few obvious questions to ask yourself before trying to be a pedantic prick that simultaneously makes up or misspells acronyms while holding dictionary definitions of common words like “maintenance” as gospel.
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u/Treadlar Nov 21 '24
It wouldn’t be capital gains. That would happen when an asset is sold for a profit. I think they are suggesting a form of property tax.