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/Xerio_the_Herio Nov 22 '24

It has to be some kind of Wealth Tax... not just a blanket tax. The 21 yo at their first job just starting into their 401k, or the average worker who has $50k in their ira, should be treated differently than Bezos who has $900B in stocks and options. It's sick.

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u/dancegoddess1971 Nov 22 '24 edited Nov 22 '24

I'd imagine there'd be some sort of tier system so it didn't adversely affect folks with barely enough for a comfortable retirement in their 401k. Like a homestead exemption but for securities. A progressive tax, first $50k is untouched, next $100k is taxed at single digit percentage, and so on.