I love how unrealized gains are worth enough to borrow against, but somehow don't count as wealth for the purpose of taxation. Funny how that works.

"Okay imagine spending $100,000"

I literally can't imagine doing this at any point in my life, ever.

Gorbachev in Russia would have thought it was a radical speech.

1. he spent most of his last decades in Germany iirc
2. he was a liberal
3. he's dead

"At least 100 million in wealth"

Lol. Lmao, even. Are libs allergic to reading?

I saw someone posting something similar about this and a person replied “you don’t make enough money to be concerned about this” and they were like “you don’t know what I’m cooking! I’m certain I’ll be in this tax bracket by the next sitting president!” Lol

So not only finally tax for the gambler parasites but a recipe for a stock market crash?

Too bad Kkkopmala isn't even in 1% as based as they are scaremongering themselves

I propose 10000% capital gains tax if someone makes over $100m.

I refuse to believe any proposed policies from a democrat. They can offer anything they want and know they won't pass it because a parliamentarian will find the blue suit rule in effect on the day it's proposed (oops the tax code can't be amended if there is someone wearing a blue suit in Congress on that day, sorry hands are tied everyone, we do want progress though).

All they're going to do is tax cuts and wonder why they can't fund anything. Also bump that military spending up another 500 billion or so gotta make sure we're extra lethal and threatening to everyone.

This would never happen

Half the top donors to the Dems are hedge funds

https://www.opensecrets.org/elections-overview/top-organizations

https://www.opensecrets.org/elections-overview/biggest-donors

This worked when they made everyone afraid of the estate tax, even though that only applies to the richest 2,000 or so deaths a year.

I like how the title to that post is just describing property taxes that every home owner already pays.

How many fucking people with $100m+ would even keep their investments in their personal name?

Anyway, wacky proposal that they know will never get up

Anyone with $100 million is going to be able to evade the taxes anyway.

Think it's for people with extremely high net worths ($100 million+).

It's also a recipe for owning nothing. Nothing solid or fungible. You would look at a Thing, and say, this is going to cost me This Much. If its value goes up. And inflation is going to happen, so of course its numerical value is going to go up.

From t_d thread and the tax doesn't apply to "things" it applies to stocks. And the bit about how you would consider how much owning a thing would cost over time including inflation is already how assets are valued.

fucking hilarious that they don't point out it only applies to those with 100 million, like to these people 100,000 is just throw away gambling money. even 50,000 is more money than i'll ever likely have at one time in my entire life, it would be life-changing to have that much money, and i'm a fairly privileged first world failson.

Yeah I’m like 175% sure that they’d be able write off drops in the value of the stock.

My concern with this idea is, how exactly are they calculating the value each year? Average value over the calendar year, value at end of CY, value at YTD from the original purchase? If done wrong it could lead to gaming of the market such that when it’s time to calculate the value, the market always happens to be in a dip then, very odd.

This will 1000% never pass. The logistics are impossible

Hurting [...] economic growth

How

Or in other words...it forces capital to do its job?

Want captialism? Sorry, you're going to have to make regulations to encourage, if not outright force porky to do his job. If labor unions come under scrutiny because withholding labor hurts the economy, then the same logic must also apply to capital.

This is proposed the same way Obama proposed single payer lol

Trying to make Harris cooler than she is again, smh.