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Let's play the rich get everything. The rules are the rich get everything. participation is mandatory.(lemmy.world)

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Allonzee@lemmy.world
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microblogmemes@lemmy.world
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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!

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three20three@lemmy.world
3 points

Wouldn’t that affect things like Home Equity loans?

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Pacattack57@lemmy.world
5 points

No because the mínimum for this to apply is 100 million.

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ObjectivityIncarnate@lemmy.world
1 point

The government also told the public that the income tax was going to apply only to rich people, how’d that turn out?

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Goodie@lemmy.world
2 points

Depends on the exact implementation, but sure, you could happily write a version where an initial home loan isn’t hit, and only “top up” loans against the INCREASED value of your home is targeted.

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doctordevice@lemmy.ca
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Homes are taxed based on assessed value. They are already a form of taxing unrealized gains.

Most of the population either has:

  1. no unrealized gains
  2. gains in a retirement account that we can’t borrow against
  3. gains in real estate that are taxed, but can be borrowed against
  4. a combo of 2 and 3

I think it’s fair to ask that the rich play by the same rules. You can either borrow against your gains and pay taxes on them, or not pay taxes and not be able to borrow against them.

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