Peter Gratton
petergratton.bsky.social
Peter Gratton, PhD, is an editor at Investopedia, book author, and professor of philosophy. He covers political theory, technology, finance, and political economy. Views are definitely my own.
👤 Joined on 15 October 2023
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- 15 Eki 2023, 22:38
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@petergratton.bsky.social - 13 Kas 2023, 01:13
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They’d better. I already spent it.
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“The borrowing let Ellison keep his stock and avoid locking in taxable gains, and highlighted how billionaires often employ a strategy called ‘buy, borrow and die’ to retain their wealth without selling assets.”
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If you can use your wealth to buy things it should be subject to taxes even if "unrealized"
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I have a draft proposal sitting in my PC: any asset securing a loan of at least 75% of its fair market value other than a principal residence or vehicle is deemed to have been liquidated and will be taxed for capital gains at that fair market value
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