Content
@
https://warpcast.com/~/channel/politics
0 reply
0 recast
0 reaction
meta-david 💥| Building Scoop3
@metadavid
Stuck my head into X for a second... I find it reassuring we've got people out there working hard to protect people who have over $100m in assets making sure they don't get taxed as much as the rest of us. And for the curious who think I contradicted myself...people with over $100m in assets rarely sell them so those capital gains seldom get taxed BUT yet they get access to liquidity for those gains. It's been a nice workaround for them for too long. :) I'm a fiscal conservative, but yeah, I'm totally fine with this.
5 replies
1 recast
6 reactions
Dan Romero
@dwr.eth
What do they do with the money they borrow?
1 reply
0 recast
0 reaction
meta-david 💥| Building Scoop3
@metadavid
Whatever they want. :) Buy Frosted Flakes, upgrade their iPhone, acquire more assets, etc. The underlying issue is they're able to realize those gains without paying tax on it. Can you do that at any asset level? Yes. But at $100m+, it's a pretty sweet deal...in fact, you can live a comfortable tax free life doing it. It's a loophole that, at the very least, needs more guard rails around it. I suspect that's where the compromise will ultimately land on it.
0 reply
0 recast
0 reaction
