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But when you liquidate assets you... pay tax! Capital gains tax. So you liquidate, pay capital gains, and use the proceeds to pay a wealth tax?
by philipallstar 5mo ago
But when you liquidate assets you... pay tax! Capital gains tax. So you liquidate, pay capital gains, and use the proceeds to pay a wealth tax?
- SoftTalker 5mo agoIn the contrived example, the 5% return was "risk free" so assume it was something like CDs, no capital gains.
- golem14 5mo agoCDs generate interest, which is taxed as income, higher than capital gains. Just sayin ...
- SoftTalker 5mo agoRight, but you don't trigger additional taxable income by redeeming them to pay your wealth tax, unlike e.g. selling stock shares.