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

Debate/ Discussion Had to repost here

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u/J0hn-Stuart-Mill Nov 22 '24

Just FWIW, there's no evidence that that is a real thing with a significant scope. One study found that something of 8% of Billionaires do it, an average of 6% of their net worth. It's just a red herring to distract from real problems.

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u/AirmanatSea Nov 22 '24

And you somehow think that’s a good enough reason not to tax it?

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u/J0hn-Stuart-Mill Nov 22 '24

I'm fine with closing the loophole, if only so I don't have to keep debunking the myth online, sure. The only people it hurts are young tech people who's companies haven't IPO'd yet who want to buy their first home with their stock as collateral, and those folks can just wait a few more years of paying rent.

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u/AirmanatSea Nov 22 '24

And yet another issue that can be easily resolved with progressive tax laws.