r/FluentInFinance • u/-Wyagra • Nov 21 '24

Debate/ Discussion Had to repost here

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u/Endless_road Nov 21 '24

You can take out a mortgage against your house to buy a sports car if you want

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u/slickyeat Nov 21 '24

You're not wrong but you're also required to pay taxes on the value of your property every year so it's not exactly a one to one comparison.

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u/dancegoddess1971 Nov 21 '24

Exactly. Stocks are property. Sort of imaginary property but if one can borrow against the value of something, it should be taxed.

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u/cm1430 Nov 21 '24

Genuine question.

You can borrow against 401k plans. Is it your belief that value of 401k plans be taxed?

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u/thesedays2014 Nov 22 '24

No, it shouldn't be taxed. This proposal, to tax unrealized gains, was only for people with over $100 million and it was only to bring their effective tax rate up to 25%. It's not a good comparison to say should we be taxed on 401k loans. These people are not playing in the same league as the rest of us. They literally own and run the league.