jeffw@lemmy.world to politics @lemmy.world · 7 months ago'Absurd!': US Billionaires Pay Lower Tax Rate Than Working Class for First Timewww.commondreams.orgexternal-linkmessage-square96fedilinkarrow-up1980
arrow-up1980external-link'Absurd!': US Billionaires Pay Lower Tax Rate Than Working Class for First Timewww.commondreams.orgjeffw@lemmy.world to politics @lemmy.world · 7 months agomessage-square96fedilink
minus-squarebreetai@lemmy.worldlinkfedilinkarrow-up1·7 months agoThat’s my point. They were worth 20 million. Due to legal restrictions I couldn’t sell. As such I would have to pay taxes on 20 million. When I could sell they were worth zero. So I would have ended up negative.
minus-squareBytemeister@lemmy.worldlinkfedilinkΕλληνικάarrow-up1·7 months agoSounds like that stock wasn’t worth the risk then. That’s capitalism in a nutshell brahski, people lose money betting on the market every day.
minus-squarebreetai@lemmy.worldlinkfedilinkarrow-up1·7 months agoIt was part of my compensation. It didn’t cost me anything. It’s naive to think we will ever tax unearned income. Not only is it against the law, it would destroy everyone.
That’s my point. They were worth 20 million. Due to legal restrictions I couldn’t sell. As such I would have to pay taxes on 20 million. When I could sell they were worth zero.
So I would have ended up negative.
Sounds like that stock wasn’t worth the risk then. That’s capitalism in a nutshell brahski, people lose money betting on the market every day.
It was part of my compensation. It didn’t cost me anything.
It’s naive to think we will ever tax unearned income. Not only is it against the law, it would destroy everyone.