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Joined 2 years ago
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Cake day: June 22nd, 2023

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  • My personal thoughts are:

    • Close carried interest loop holes
    • Tax loans against unrealized gains on securities and physical property (excluding ones primary residence). You should not be able to take a billion dollar loan out to avoid capital gains taxes. I’m fine that this raises the basis for when the asset is sold. Well, someone do the math if there’s a loophole this creates? But hopefully my intent is clear.
    • Social security and Medicare tax applies to all income. Shares granted as part of compensation should also have social taxes payable on grant.
    • Increase the tax brackets above the current max of 37% for income above $609k… Every 250kish above should increase by 2% until you reach 50% (about 2.5m)

    That money should then be used for:

    • Increasing social security payouts
    • Expanding medicare access
    • Increasing the limits for the tax brackets on the progressive scale for incomes below 250k

    To boost the bottom:

    • Stock buybacks are illegal except for the purposes of distributing stock to employees. This counts for executives but cannot exceed some multiple of their cash salary
    • 20% of money flagged as dividend payments to shareholders should be distributed to employees as profit sharing into their retirement account. There needs to be rules around the max differential between the highest and lowest disbursement.