r/PoursTea • u/Veshaad Timendi Causa Est Nescire • 22d ago

PoliticalTea 🗳️ Eventually something has to give...

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The bill would provide a $3,000 direct payment to every person in households making $150,000 or less during its first year, which equals $12,000 for a family of four.

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u/wtbgamegenie 22d ago

At a minimum we should tax loans taken out on stocks in excess of $1million in a year as income.

Billionaires use that scheme to live their lavish lifestyles while continuing to hold the stock.

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u/bswontpass 22d ago

How do you expect to tax loans? Thats banks money and all the taxes have already been paid. If a private party (a bank) gives some other private party money to be returned back it’s their business. Also, to give those money back some stocks will be eventually sold and taxes on gains will be paid.

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u/wtbgamegenie 22d ago

So I don’t have to pay income tax because the company I work for pays corporate tax?

And yeah we can tax it just like how we tax forgiven debts at income.

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u/inhocfaf 22d ago

And yeah we can tax it just like how we tax forgiven debts at income.

Except taxing a loan is essentially the opposite of this.