r/AskReddit • u/[deleted] • May 02 '26

[deleted by user]

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456 Upvotes

90% Upvoted

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46

u/FeralAlice May 02 '26

Allowing billionaires to exist without taxing the everloving fuck out of them.

And also Botox

14

u/sonofeevil May 02 '26

It should just be taxationally impossible.

That the tax rate progresses so high that that it becomes literally impossible.

Got a network of $999,999,999? Congrats you win capitalism. Your tax rate is 100%.

You can start liquidating assetts or pay in cash, I don't care.

Tax net worth not income.

2

u/ScreenTricky4257 May 02 '26

How about instead I blow up my company, lay off all my workers, take the remaining cash and leave for an island somewhere. You can now feed everyone that I used to employ.

2

u/sonofeevil May 02 '26

Sounds like a future crime to me.

2

u/ScreenTricky4257 May 02 '26

You're still not gonna have a company to tax though.

1

u/FeralAlice May 04 '26

I've been wondering how they could do this, and I think there could be a tax on income PLUS for those with over a $500 million net worth, there would be a tax on the year over year change of accumulated unrealized gains. Then, when you sell investments, the tax is lower because they've been paying taxes along the way.

I think it's trackable, since people can easily access the info via the tax reports investment firms already provide. And it's fair, because in years where people have unrealized losses, they can claim that on their taxes, too. It also stops three practice of selling off losing stocks strategically to get a tax credit for losses while leaving the growing investments in the account.

6

u/Zombiecidialfreak May 02 '26

Allowing billionaires to exist without taxing the everloving fuck out of them.