Did I say mandatory? I meant optional! You’re “free” to die in a cardboard box under a freeway as a market capitalist scarecrow warning to the other ants so they keep showing up to make us more!
Did I say mandatory? I meant optional! You’re “free” to die in a cardboard box under a freeway as a market capitalist scarecrow warning to the other ants so they keep showing up to make us more!
How so?
“Oh no, I made money, better put a small percentage of my gains away for tax season, just like I do with all of my income, because I’m American and lack a good PAYE system”.
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Someone here has made a false assumption. In fact, I’m pretty sure we both have made several. The question is who has made a fatal false assumption? Let’s go.
My root comment, at the top of all of this, was my idea that perhaps we should consider gains “realized” when they are sold OR used as a collateral in a loan.
Your assertion is that it would wipe out small investors.
I would question how many small investors are using their small investments as collateral in a loan?
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You said small investors not Wallstreetbet degenerates.
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But sure, now we’re just insulting each other, I’m going to ignore that and try to answer your point.
TBH. US tax is weird as fuck, and I don’t know nearly enough about it to have more than a high level discussion on it. In my head, this would simply change when you’re paying taxes, as opposed to how much.
But… Nope. Tried to reason about it, can’t think of a nice clean way out. It’s friday afternoon. I’m out.
What is your alternative solution to the over all problem?
Constitutionally outlaw corporate personhood and all derived market futures. But, that won’t solve the core issues with capitalism or human proclivity.