A bit of context because that comment alone is a bit disingenious: No one pays taxes on wealth in the US (unless they die), they pay taxes on income. For example, if you buy a stonk or a property and said thing you bought increases in value you do not pay taxes on it until you realize that value. In other words you need to sell it, then you're taxed on the capital gains (the difference between when you bought it and when you sold it, and I believe it's currently ~15% IIRC). Just come out and say no single person such or entity such as Jeff Bizos, Zuckerberg, or Black Rock should be allowed to have this much control and legislate against that. But nope, let's bitch about net worth on paper.
A bit of context because that comment alone is a bit disingenious: No one pays taxes on wealth in the US (unless they die), they pay taxes on income. For example, if you buy a stonk or a property and said thing you bought increases in value you do not pay taxes on it until you realize that value. In other words you need to sell it, then you're taxed on the capital gains (the difference between when you bought it and when you sold it, and I believe it's currently ~15% IIRC). Just come out and say no single person such or entity such as Jeff Bizos, Zuckerberg, or Black Rock should be allowed to have this much control and legislate against that. But nope, let's bitch about net worth on paper.
(post is archived)