jeffw@lemmy.world to politics @lemmy.world · 2 years ago'Absurd!': US Billionaires Pay Lower Tax Rate Than Working Class for First Timewww.commondreams.orgexternal-linkmessage-square143fedilinkarrow-up11.02Karrow-down114
arrow-up11.01Karrow-down1external-link'Absurd!': US Billionaires Pay Lower Tax Rate Than Working Class for First Timewww.commondreams.orgjeffw@lemmy.world to politics @lemmy.world · 2 years agomessage-square143fedilink
minus-squarebreetai@lemmy.worldlinkfedilinkarrow-up1·2 years agoThat’s my point. They were worth 20 million. Due to legal restrictions I couldn’t sell. As such I would have to pay taxes on 20 million. When I could sell they were worth zero. So I would have ended up negative.
minus-squareBytemeister@lemmy.worldlinkfedilinkΕλληνικάarrow-up1arrow-down1·2 years agoSounds like that stock wasn’t worth the risk then. That’s capitalism in a nutshell brahski, people lose money betting on the market every day.
minus-squarebreetai@lemmy.worldlinkfedilinkarrow-up1·2 years agoIt was part of my compensation. It didn’t cost me anything. It’s naive to think we will ever tax unearned income. Not only is it against the law, it would destroy everyone.
That’s my point. They were worth 20 million. Due to legal restrictions I couldn’t sell. As such I would have to pay taxes on 20 million. When I could sell they were worth zero.
So I would have ended up negative.
Sounds like that stock wasn’t worth the risk then. That’s capitalism in a nutshell brahski, people lose money betting on the market every day.
It was part of my compensation. It didn’t cost me anything.
It’s naive to think we will ever tax unearned income. Not only is it against the law, it would destroy everyone.