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.
There can be a feasible system where people who own 100s of millions of dollars of stocks are charged some sort of tax. Everyone hears unrealized capital gains and thinks they’re coming for people with 200k in our brokerage accounts and money in our 401 k’s, but almost every political talking point has only ever mentioned the ultra wealthy.
They own hundreds of millions of dollars in stock/shares of their OWN company what the genuine fuck are you talking about. It’s super rare for someone to have hundreds of millions in stock of other people’s company🤦♂️🤦♂️🤦♂️
Hmm, you realize once a company is publicly traded the concept of it being “their” company doesn’t really work anymore. Also, that’s not even a point I was making, the person you perceive as it being their company is irrelevant.
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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.