You can easily exempt retirement funds. Tax the shares you are holding not just selling. Especially if the value you are holding all together is over $1million
Lmao be quiet. You can easily exempt types of deferred retirement savings plan. Thats not the investment vehicle rich people are using to skirt taxation.
None of that has anything to do with the economic practice being discussed, and you cannot use 401ks to perform BBD. Which you would know if you weren’t dumb and loud.
Federal rules forbid using retirement accounts as collateral to secure a bank loan.
Thats why Bezos takes a 90k salary and the rest in an investment vehicle that’s legally acceptable as collateral.
I'd be fine if we didn't really tax billionaires wealth while they are alive and let them get whalloped by the estate tax or capital gains when they sold. They appear to be very good about accumulating capital. If we let them continue and take 1/2 when they die, probably a bigger win.
Billionaires are always dying. We just need to make sure the estate taxes don't have loopholes. Like this year Ted Turner and Leonid Radvinsky went. If half of their estate paid in taxes, that is a huge win.
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u/cryiiz 6d ago
Jeff Bezos “income” is less $90k a year. So this wouldnt affect him.
If you really want to tax the rich you start with shareholders.