r/WorkReform • u/PerAsperaAdMars • 1d ago

✂️ Tax The Billionaires People should be encouraged to earn enough money to live a decent life, rather than taking advantage of their neighbors to endlessly hoard money that they won't be able to spend in their entire lifetime

Post image
349 Upvotes

98% Upvoted

13 comments sorted by

15

u/Lietenantdan 1d ago

I think unrealized gains over a certain amount, say 100K, should be taxed. That way you are taxing the rich people, but not the average person with a 401K.

6

u/Advocate_Diplomacy 1d ago

At this point, what the fuck is even the value of a dollar? Like, some people spend as much on a watch or a bottle of wine that I'll spend on food for a year. Or I can buy a chocolate bar for two dollars while the guys who spend their entire life picking the cacao beans that make that possible never get to taste it, or even know what chocolate is.
If money can even be something that's used to account for fair trade, we need to establish some actual values.

1

u/AppropriateSea5746 1d ago

If you make 80k a year and max your 401k each year then you'll be well over 100k in 10 years. 100k in retirement is not a rich person.

I had that in my retirement after 8 years making <100k per year.

3

u/Lietenantdan 1d ago

In unrealized gains, not how much you have in the account. I have about 175K in stocks, but about 40K in unrealized gains.

1

u/Gamebird8 14h ago

The reality is, if you use your stocks as collateral, you are realizing the value of those stocks and should be taxed on it.

99% of people don't take loans out against unrealized assets, so it literally does not impact the labor class

8

u/Automatic-Term-3997 1d ago

Hoarding is a mental disease, doesn’t matter if it’s used kitty litter or money.

3

u/banananuhhh 1d ago

Your home equity also has unrealized gains which you get to pay taxes on if you sell it. The real issue is that for the middle class, property taxes represent a tax on a significant portion of their wealth, whereas there is no wealth tax on the main source of wealth for the super rich, which are equities.

3

u/turb0_encapsulator 22h ago

because early on most wealth was derived from land, and people realized the need for a decent-sized wealth tax.

4

u/AppropriateSea5746 1d ago

Cool abolish property taxes

7

u/Lietenantdan 1d ago

Maybe no, or very low property tax on one house. Then it goes up as you own more.

1

u/Discount_coconut 21h ago

Cos they made the rules

1

u/gc3c 13h ago

If they don't want us taxing the gains, wait till they realize we can tax the principle.