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In reply to the discussion: Joe Manchin swings at Biden's billionaire tax, saying the superrich can't be taxed on 'things you do [View all]mopinko
(70,071 posts)15. it's supposed to work like a property tax, so, it could.
tho tbh, my property taxes did not go down after the value of my house dropped in '08.
but it did slow it down.
seems like standard accounting procedures could easily make adjustments.
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Joe Manchin swings at Biden's billionaire tax, saying the superrich can't be taxed on 'things you do [View all]
Polybius
Mar 2022
OP
If they are floating loans to live on, using that paper wealth as collateral....
TheRealNorth
Mar 2022
#3
unrealized gains are not income because the tax law was written that way.
Dyedinthewoolliberal
Mar 2022
#26
So, of we tax assets at, say, their present value, do we give them....
TreasonousBastard
Mar 2022
#5
I just don't see how a billionaire can afford to live if they have to pay more in taxes
ColinC
Mar 2022
#10
He profits from "gob" i.e. garbage coal...then lets call him Joe "gob" Manchin.
Peregrine Took
Mar 2022
#13
That doesn't actually explain about what would be done if stock value went down
muriel_volestrangler
Mar 2022
#34
More detail; this also raises the top rate on realized gains to 39.6%, also payable on inheritance
muriel_volestrangler
Mar 2022
#39
Please, people, vote in the midterms. I'm so sick of always hearing, "no" from this dude.
Joinfortmill
Mar 2022
#20