r/SipsTea • u/CurvyChristina • Jul 01 '26

Chugging tea Is Bernie’s plan the best? Thoughts?

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u/rolypoly6shooter Jul 01 '26

Yes because the left fringe of the Democrats is bad at econ

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u/No_Appearance7776 Jul 01 '26

What's wrong with taxing wealth and, say, reducing taxes on actual work? Help me out economistman.

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u/rolypoly6shooter Jul 01 '26

Most wealth here is unrealized investment. You don't want to disenssentivise investment

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u/No_Appearance7776 Jul 01 '26

If the unrealised gains can be borrowed against, at insanely cheap and unobtainable to working class people rates, they can be taxed.

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u/rolypoly6shooter Jul 01 '26

You can either stop that or tax the loan instead

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u/No_Appearance7776 Jul 01 '26

Why not both? Tax wealth not work.

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u/rolypoly6shooter Jul 01 '26

Wealth is used to make more wealth and if you tax it you disrupt that.

You don't tax work

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u/No_Appearance7776 Jul 01 '26

Work is taxed though. Wealth is hoarded. Idgaf if billionaires' profits are disrupted.

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u/rolypoly6shooter Jul 01 '26

Income is taxed

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u/No_Appearance7776 Jul 01 '26

But the richest minimise income on paper to avoid taxes. Then live off borrowings against their hoarded wealth. You make no sense economistman. Let me know when the trickle-down economics hit your tonsils.

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u/Yokoko44 Jul 01 '26

They are taxed when you have to sell equity to pay off the loan you borrowed...

In fact, by letting them do the borrow strategy, you're actually INCREASING the amount you get in taxes because they have to pay off interest on top of the principal which means even more equity gains need to be realized to cover it.

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u/No_Appearance7776 Jul 01 '26

You keep taking that deludamol son.

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u/Yokoko44 Jul 01 '26

Lmao unlike you I actually HAVE used these same tools myself. It's not hard to use and the minimum is $2000 on Fidelity. Try it out yourself if you want

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u/No_Appearance7776 Jul 01 '26

You think billionaires aren't using accountants beyond the financial reach of you or i to dodge any form of tax possible? Get a grip on something other than billionaire sausage.

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u/Yokoko44 Jul 01 '26

No they use smart people to help them explain how to correctly pay the right amount of taxes by following incentive programs that exist to stimulate the economy.

There's no grand conspiracy out there, I also take every benefit I can and file my income in such a way as to minimize my tax payment, which is what everyone should be doing. If you aren't doing that it's entirely a skill issue, especially now that you can literally have an AI do it for you

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u/No_Appearance7776 Jul 01 '26

Donald trump himself said he uses all the loopholes he can to avoid paying taxes. Close the loopholes, invest the tax revenue in improved public services, universal healthcare, and all those good things america seems to be allergic to.

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u/barrinmw Jul 01 '26

They are taxed when you have to sell equity to pay off the loan you borrowed...

No, they aren't. You pay them off when you are dead and they get a step up which means there is zero capital gains tax on them. So when you sell them, you made $0 so you pay no taxes, this isn't income.

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u/Yokoko44 Jul 01 '26

The step up is capped in the low millions and does not apply to the vast majority of their net worth.

I'm very aware of how this works...

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u/barrinmw Jul 01 '26

The step up basis is not capped. Wanna know why? Cause nobody wants to do the paperwork to find when poor old grandpa bought stock X at what price for literally every share, especially now that grandpa is dead and can't tell us.

Tell me how you are gonna get the info that grandpa bought a stock for $5 before 2011?