My man, my stock market portfolio could go up when Trump tweets about a deal, get hit by a huge tax, then I won’t have the money to pay the tax when it turns out there’s no deal
Taxes can be variable depending on income, net worth, number of children, nipple circumference, or any other measure we decide to use. Don’t talk about them like you’re in the same category as Elon Musk because there are very few categories in which that is true.
But they never just pass a tax that only affects the wealthy. I ended up paying AMT one year because I had capital gains. I think that’s ridiculous because it was meant to affect only rich people and I had a one time windfall
My man, my stock market portfolio could go up when Trump tweets about a deal, get hit by a huge tax, then I won’t have the money to pay the tax when it turns out there’s no deal
Whatever interval for reevaluation is chosen, it’s not going to be daily.
Even once a year you can lose all your money between Dec 31st and April 15th
Taxes can be variable depending on income, net worth, number of children, nipple circumference, or any other measure we decide to use. Don’t talk about them like you’re in the same category as Elon Musk because there are very few categories in which that is true.
Just make it illegal to use unrealized stocks as collateral for loans and credit.
Or just make you pay capital gains tax on the collateral and step up the cost basis to the date of the loan
But they never just pass a tax that only affects the wealthy. I ended up paying AMT one year because I had capital gains. I think that’s ridiculous because it was meant to affect only rich people and I had a one time windfall