Did I say mandatory? I meant optional! You’re “free” to die in a cardboard box under a freeway as a market capitalist scarecrow warning to the other ants so they keep showing up to make us more!
There’s a very good reason they should be taxed; half a dozen people are richer than god, and basically never pay any real amount of tax.
This would effectively lock out every small investor from the stock market due to the liability of both success and failure.
How so?
“Oh no, I made money, better put a small percentage of my gains away for tax season, just like I do with all of my income, because I’m American and lack a good PAYE system”.
I mean the stock market is literally gambling, so the risk of success and failure is already there. The proposal is whether or not we should allow people to use unrealized gains to secure loans without having to pay taxes on said gains at the point of taking the loan. This would only occur if you’re worth more than 100 million. You can afford to pay that tax.
I mean the stock market is literally gambling
I’ve a better record of success than the most successful poker players. Is it ten years of good luck or the consequences of effort and skill?
The proposal is whether or not we should allow people to use unrealized gains to secure loans without having to pay taxes on said gains at the point of taking the loan.
Thus locking out all non-corporate investors from margin, prerequisite to options, prerequisite to risk mitigation and gains enhancement. The average investor looses the freedom to do much more than DCA a fund.
This would only occur if you’re worth more than 100 million.
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It’ll never be passed in such a way. Legislation always favors the corporate and wealthy as they’re the ones that write it. It’s most perverse in finance and investment. There’s been nothing favoring human investors since the breakup of Ma Bell.
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It’s totally inadequate to save the republic from the nearly-unmitigated, algorithmically-optimized capitalism that exists today. The biggest fish, corporations, would simply get bigger by eating their biggest threat: humans with a lot of resources, but not the most affluent.
The stock market is a tool. It’s not the cause.
TL;DR:
The neolib’s proposal is crap.
This isn’t:
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legislate away most of corporate personhood
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restore the Glass-Steagall Act
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repeal the Interstate Banking and Branching Efficiency Act
