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It does have an unlimited right to tax. Investors know that there is more than enough private wealth and assets here to pay off everything if we ever got aroun
by yieldcrv 2y ago
It does have an unlimited right to tax.
Investors know that there is more than enough private wealth and assets here to pay off everything if we ever got around to it. The needful.
- zdragnar 2y agoInvestors also know they'll be among the first the government calls upon to foot the bill. Capital gains and unrealized gains taxes are among the increases the current administration is pitching (the unrealized gains is technically more of an advance than an increase, but because it is owed before it is realized, it will feel like an increase). Add to that the perennial desire to increase corporate taxes (again, directly affecting investors) and it's probably safe to say that if you're an investor, you are the last person to feel good about the prospect of a fire sale shoring up the government.
- toomuchtodo 2y agoThose poor investors. Sad! /s Tax rates are incredibly low. Investors should be happy the free for all lasted as long as it did.
- wonderwonder 2y agoTotal wealth held by US billionaires is only 4.5 trillion. US owes like 34 trillion. Not sure sending the billionaires to 0 and the resulting economic collapse gets us where we need to go.
- yieldcrv 2y agoAnd US real estate holdings by everyone (all entities) are $119 trillion there is a lot of privately held notional value here. we can go back to doing in-kind tax payments, cattle and land, and to the tax authority, if it came to that. some austerity measure in the future. a lot of countries don't have this quirk where the government owns a lot, earns a lot, has natural resources, as well as privately held holdings that eclipse all of it
- neglesaks 2y agoMay I humbly suggest that we start taxing the land value?
- wonderwonder 2y agoHow about we just cut spending? We already do tax the land value, we pay property taxes.