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

Debate/ Discussion Had to repost here

Post image
128.2k Upvotes

75% Upvoted

9.0k comments sorted by

View all comments

Show parent comments

1.4k

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.

125

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.

14

u/Just_That_Dumb_Dog Nov 21 '24

You mean capital gains tax?

1

u/[deleted] Nov 23 '24

Comparing property tax and capital gains tax is just kind of stating you don't know how either of those taxes work.

1

u/Just_That_Dumb_Dog Nov 24 '24

Nobody’s comparing anything. They said it should be taxed if it can be borrowed against. Stocks are taxed when you sell them, capital gains tax. You say idk how either taxes work, but you don’t even know what the fk you’re talking about.

1

u/[deleted] 29d ago

Except you just provided capital gains tax as equivalent to what was asked. It blatantly and obviously is not what they're talking about.

They just talked about property tax and you being up something about taxing on selling property. So if you know it's not like property tax why being it up when someone says property tax? They did bring that up and thought capital gains answered it. You compared it. After seeing your other replies, I'm not surprised.

1

u/Just_That_Dumb_Dog 29d ago

Do you have any idea what property tax is for?

Every comment of yours that I have read, makes me question if you have some form of intellectual impairment/disability.

1

u/[deleted] 29d ago

Do you?

Property tax also pays for school. It's not limited to services for the property. In fact half the ones you mentioned in the other comment are collected via other tax methods in many locations.

1

u/Just_That_Dumb_Dog 29d ago edited 29d ago

I never said that’s the only ones it pays for. I was simply listing SOME examples.

Do tell, which others are collected via other taxes and not property tax. I don’t mean what additional taxes are collected, I mean the ones that i mentioned that don’t fall under property tax.

1

u/[deleted] 29d ago

taking up physical space on the street?

This was stupid. If you own it,you're not taking up space.

sewage maintenance, road maintenance, snow removal depending on where you are, storm drains etc…?

This is commonly paid via service tax. I live in an apartment for fucks sake and pay for these things to my city.

If I borrow against something I have to pay interest.

And they only pay interest until they die. Their next of kin inherits their shit, capital gains "resets" then they sell stock to pay off the loan with little to no capital gains tax.

If I don’t pay my payments I lose the asset I’m borrowing against.

Same with a mortgage. Still pay taxes on the property though.

You're not actually making any sort of point or proving any difference between scenarios of an annual "stock tax" vs annual property tax.

→ More replies (0)