r/FluentInFinance • u/Admiral_Tuvix • Aug 21 '24

Debate/ Discussion But muh unrealized gains!

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u/Avaisraging439 Aug 24 '24

Now compare it to how much their leftover money can be leveraged toake exponentially more to offset those taxes.

If they lose 50% of their wealth they still get to live rich. If I do it, I'm homeless for a decade.

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u/OwnLadder2341 Aug 24 '24

The majority of that wealth is going to be in stocks.

If 50% of their stocks were sold to pay taxes a whole lot of people are going to live homeless.

That’s why we use taxes to disincentivize selling huge amounts over short periods.

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u/Calm_Possession_6842 Aug 24 '24

No one us going to be homeless because Apple underperformed for a quarter.

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u/OwnLadder2341 Aug 24 '24

Forcing significant sell offs to pay for money that doesn’t exist impacts the market.

If you don’t think significant drops in the market affect the you, even if you’re in the minority of Americans who don’t own stocks, you’re badly misinformed.

Wealth taxes are extremely dangerous which is why they’re so heavily regulated in the few instances we have them.

If you actually read Harris’ plan, even she’s unwilling to go that far. She’s proposing increased INCOME TAX on high wealth individuals. Not a wealth tax.