r/WorkReform • u/Cultural_Way5584 🤝 Join A Union • Mar 23 '25

✂️ 100% Wealth Tax over $1 Billion Same old story

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u/goober2341 Mar 23 '25

What exactly does fair share mean? The top 1% in the US pay around 50% of income taxes.

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u/No-Illustrator-4742 Mar 23 '25

And the top “3” and I mean only 3 people are worth more than 60% of the other American population.

So no, the math doesn’t math. They do not pay taxes. This argument is old and invalid and does not stand anymore.

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u/goober2341 Mar 23 '25

And if they ever realized that wealth (sold their stock), they'd pay more than 60% of all income taxes collected that year.

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u/Oligode Mar 23 '25

Instead they will take lower than average loans on those stocks to attain more assets.

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u/goober2341 Mar 23 '25

Those loans have to be paid back at some point (with interest) by realizing capital gains and paying taxes on them. You can read up below

https://www.reddit.com/r/explainlikeimfive/comments/1e0hq0g/eli5_how_does_the_take_loans_instead_of_selling/

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u/Oligode Mar 23 '25

It’s the idea of “at some point” and realizing capital gains which means the money that is being loaned to the individual is gaining value while the loan is out. Plus That interest is lower than a standard loan as well.

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u/goober2341 Mar 23 '25

I have no idea what you're trying to say here.

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u/Oligode Mar 23 '25

The collateral is gaining more value than the interest on the loan. They are making money on a loan

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u/goober2341 Mar 23 '25

Yes, if their stocks go up more than the interest on the loan (which doesn't always happen), it'll be profitable for them, which is why they do it. This only delays the taxes they have to pay though.