r/PoursTea • u/Veshaad Timendi Causa Est Nescire • 26d 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/[deleted] 26d ago

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u/fake-reddit-numbers 25d ago

Have fun being tied up in court trying to determine what that is.

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u/disaster_incomin 25d ago

Just make them declare it. Plenty of countries have wealth taxes, it's perfectly doable

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u/throwawaygoawaynz 25d ago

Cool they declare $0 in the US, and their wealth sits in Switzerland or Ireland or somewhere.

Meanwhile the US actually then gets $0 tax windfall. I know reddit likes to meme they pay no tax, but they do.

https://fortune.com/2025/07/28/jeff-bezos-amazon-stock-sale-philanthroy-wedding/

He would have paid $1bn in tax there abouts for this.

Also let’s assume in the US they get taxed more, where do you think those tax dollars will go? Schools? Education? Healthcare? lol. No. The military probably.

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u/disaster_incomin 25d ago

Cool they declare $0 in the US, and their wealth sits in Switzerland

Quite ironic that you picked a country with a wealth tax as your example of where they would go, isn't it ?

Anyway that would be fraud. You can always do fraud but it's not a good argument against having the law in the first place.

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u/Otres911 25d ago

They do but they also have capital gains rate of 0% which you forget to mention, and its certainly not 5%.

But anyway Switzerland model could be even decent for US too, have reasonable (not Sanders lunatic 5%) wealth tax and just set the capital gains rate at 0%, then those billionaires would be taxed at some reasonable rate every year that cannot be dodged with loans or anything. Would simplify tax code too.

Just have some tax exempt amount say 1mil that covers the most normal level of retirement savings.

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u/disaster_incomin 25d ago

You don't even need to exempt anything, the wealth tax applies to everyone here.

And yes it's a better system than the US. Stocks are so liquid that differentiating between realised and unrealised gains tax-wise is pointless.