this post was submitted on 19 Sep 2024
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Microblog Memes

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Let's play the rich get everything. The rules are the rich get everything. participation is mandatory. (lemmy.world)
submitted 2 months ago* (last edited 2 months ago) by Allonzee@lemmy.world to c/microblogmemes@lemmy.world
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Did I say mandatory? I meant optional! You're "free" to die in a cardboard box under a freeway as a market capitalist scarecrow warning to the other ants so they keep showing up to make us more!

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[–] three20three@lemmy.world 3 points 2 months ago (3 children)

Wouldn't that affect things like Home Equity loans?

[–] doctordevice@lemmy.ca 11 points 2 months ago* (last edited 2 months ago)

Homes are taxed based on assessed value. They are already a form of taxing unrealized gains.

Most of the population either has:

  1. no unrealized gains
  2. gains in a retirement account that we can't borrow against
  3. gains in real estate that are taxed, but can be borrowed against
  4. a combo of 2 and 3

I think it's fair to ask that the rich play by the same rules. You can either borrow against your gains and pay taxes on them, or not pay taxes and not be able to borrow against them.

[–] Pacattack57@lemmy.world 5 points 2 months ago (1 children)

No because the mínimum for this to apply is 100 million.

[–] damnedfurry@lemmy.world 1 points 2 months ago

The government also told the public that the income tax was going to apply only to rich people, how'd that turn out?

[–] Goodie@lemmy.world 2 points 2 months ago

Depends on the exact implementation, but sure, you could happily write a version where an initial home loan isn't hit, and only "top up" loans against the INCREASED value of your home is targeted.