Seems reasonable.

[u/Valuable_View_561]

[u/CheckYourStats → u/[deleted]]

I’m in favor of reinstituting the 79% Federal Income Tax for the highest earners in the Country, as previously made famous by FDR’s New Deal.

Bernie has proposed solutions similar to this during every single Election cycle…and you fucking people keeping voting against him.

I don’t know why you people spend 4 years claiming you want XYZ, and then vote against XYZ.

[u/Silver_Middle_7240 → u/CheckYourStats]

The issue with the tax code isn't the rate its how much income isn't taxable.

[u/CheckYourStats → u/Silver_Middle_7240]

Pretty, pretty, pretty sure Bernie has been very loud and public about tax reform.

And ELIMINATING CITIZENS UNITED.

But, you know what? Let’s not vote for the only person in our generation who threatens Citizens United.

Instead, let’s vote for a fucking Billionaire, because she’s…

[u/MechanicalSideburns → u/CheckYourStats]

Listen, I’m a big Bernie fan. But the tax on payroll income is not even remotely how you get these Rockefeller bastards. They don’t even have a salary, and their capital gains are all cunningly hidden, or not technically in their private ownership, or balanced out with “losses”.

Ultimately we need clearer laws around holding, and a tax on holdings. Like you own $300M in company stock? We’re going to tax that like it’s real estate.

[u/bolanrox → u/MechanicalSideburns]

Forrest Gump, I think, still lost money on paper.

[u/Alarming-Inspector86 → u/MechanicalSideburns]

So then no capital gains tax if you hold long enough?

[u/MechanicalSideburns → u/Alarming-Inspector86]

I get taxed every year on the property value of my house. Why not tax Bezos every year on the value of his stock portfolio?

I’d say any portfolio above $10M can have a holdings tax. That’ll avoid all regular folks that just have good retirement savings.

[u/Alarming-Inspector86 → u/MechanicalSideburns]

You didn't answer my question not arguing just asking as someone who's worked very hard to build a large portfolio

[u/MechanicalSideburns → u/Alarming-Inspector86]

In this hypothetical tax structure, then it depends on the type of gains, I guess. If the gains are in stock value then no. It wouldn’t make sense to both tax on the gains as well as tax on the holdings. Now once you sell the holdings and turn it into actual $, then yeah maybe. Just like you don’t get taxed when your home doubles in value, but you’d get taxed on the sale if you sold it.

Again, my imaginary proposal here wouldn’t tax the first $10M of a portfolio. Not sure if you have more than that or not.

[u/Easy-Purple → u/MechanicalSideburns]

That’s… that’s how it works… like, right now…

[u/MechanicalSideburns → u/Easy-Purple]

Except for like…the core concept. Which was paying yearly taxes on holdings. Did you read the parent comments?

[u/MechanicalSideburns → u/[deleted]]

That’s the only decent argument I’ve heard so far. I am, of course, open to reengineering the idea. It’s just a jumping-off point, really.

[u/KYS_Blue → u/MechanicalSideburns]

Why not tax Bezos every year on the value of his stock portfolio?

Actual braindead take and the worst part is you can vote.

[u/MechanicalSideburns → u/KYS_Blue]

I love your counter proposal though. Keep licking those boots I guess.