Mist of their true income won’t be touched. You don’t get taxes for holding stock. You don’t get taxed for borrowing. So, a lot of billionaires borrow against their stock to have spending money without paying income taxes.
And that is the real reason they want interest rates to be low. So the leech class can get better rates on their untaxed income from borrowing against stocks.
Borrowing against stocks should be considered realizing gains from them and taxed as such.
Mist of their true income won’t be touched. You don’t get taxes for holding stock. You don’t get taxed for borrowing. So, a lot of billionaires borrow against their stock to have spending money without paying income taxes.
And that is the real reason they want interest rates to be low. So the leech class can get better rates on their untaxed income from borrowing against stocks.
Borrowing against stocks should be considered realizing gains from them and taxed as such.
Ok, let’s call it ‘taxable income’ then to have a basis of what is going to be taxed (more).