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> Does it mean that we should tax wealth? Absolutely not. If he takes out a loan guaranteed by his wealth, how should that be taxed?
by noja 5y ago
> Does it mean that we should tax wealth? Absolutely not.
If he takes out a loan guaranteed by his wealth, how should that be taxed?
- lovecg 5y agoBy taxing the income he has to generate to pay off the loan. And yes, we should close the intergenerational loopholes. Also, this is not as huge an issue as it was made out to be. Check out the actual income and taxes paid by some of the billionaires. It’s not clear why they would need to do the infinite loan trick on top of that.
- belval 5y agoI don't claim to have all the answers, I'm just a software developer. For what it's worth, Jeff Bezos should pay taxes that match his lifestyle I 100% agree, but saying "he has 136B$ in the bank and we should tax that amount" is making several leaps in logic that I can't get behind.
- MrPatan 5y agoBezos doesn't pay VAT and sales tax on the stuff he buys to have his lifestyle? What's the loophole there?