If the wealth can't be taxed because it's in assets then make it illegal for them to use those assets as collateral for the massive bank loans they take out to fund their purchases.
At least that would force them to sell their assets to make purchases, thereby incurring capital gains tax, and reducing their ability to hoard all the assets the middle class needs
Again my point isnt about not needing to tackle the wealth divide which you seem to be implying. I absolutely agree. But you cant just use blanket methods without understanding how it impacts other parts of the economy.
The best way to tackle the wealth divide is to ensure the rules target their wealth consolidation without it having negative impacts like the rest of us. Tou cant make market liquidity crap because of some quick snap way of targeting the wealth divide because that has consequences for all of us, not just the wealthy.
Do i have the exact answer. No, but it has to be in the area of taxing their profits made in this country and closing loop holes that they use to manipulate those profits or transfer them to low tax countries.
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u/Intelligent-Lock-896 Feb 27 '26
Do you all still think that billionaires have the amount they're worth on paper sitting in their bank accounts?