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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.
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Midnight Marauder
@midnightmarauder.eth
They also borrow against these assets at rates no average person can and write the interest off their taxes. Stash their wealth in shell corps ala the Panama papers. So many way of “tax avoidance” open to them
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meta-david 💥| Building Scoop3
@metadavid
Totally. This is one of the loops that need to be closed off, IMO. 💯 I normally don't tag people like but would love to hear @tayzonday weigh in as he normally has an interesting perspective to share.
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Tay Zonday
@tayzonday
The top 0.1% complaints are much ado about nothing. They are suckling the prosperity teat of Eisenhower’s 90% top income tax rate before the dollar even became fiat as the biggest social wealth subsidy in human history. All higher capital gains represents is mama claiming the right to stand up for a second and live her life.
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Midnight Marauder
@midnightmarauder.eth
Well said, people focus on the “rate” and not the marginal rate that’s actually paid. No company ever paid 90 percent, what it did do is force reinvestment in the company instead of endless stock buybacks to boost paper value. So the can issue more corporate bonds on said value
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