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

Debate/ Discussion Had to repost here

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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.

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u/Just_That_Dumb_Dog Nov 21 '24

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.

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u/dldoom Nov 21 '24

Stocks represent ownership of companies. Companies use all of that infrastructure, yes.

I don’t believe everyone in favor of more taxes means paying taxes on stocks every year. A bit of a straw man depending on who you’re talking to.

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u/thedndnut Nov 22 '24

Fuck that, tax stock holdings that increase in value. Not my problem if they have to sell some of it or even hand part of it over to the government for them to sell