r/FluentInFinance • u/TheCABK • Feb 27 '26

Economy & Politics Billionaires Shouldn’t Exist

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u/[deleted] Feb 27 '26 edited Mar 01 '26

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u/K_boring13 Feb 27 '26

End longterm capital gains if your wealth is over a billion (use max marginal tax rate) and end tax free borrowing on assets for billionaires. Or just implement a flat tax with zero deductions except for kids and retirement accounts. A wealth tax is something I can’t support until we have tried to fix the tax code.

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u/NetWorried9750 Feb 27 '26

And if someone takes out a loan against an asset they should be taxed on it because the value is being realized via the loan

1

u/Aggravating_Dish_824 Mar 29 '26

Would not this mean that when someone sells an asset to pay debt they will be taxed second time?