[bdangubic]

> property, company stock, any unrealized gains in different equities, etc.

it is only “unrealized” when they have to pay taxes. but walk into a bank and ask for a loan (which is of course what they do) and all of a sudden that shit is all “realized” and here’s millions of dollars to ya…

[kadabra9]

That’s a separate discussion.

I think there should be some sort of tax penalty to borrowing against assets as a sort of infinite money glitch.

[bdangubic]

it is not separate, it is exactly the same discussion. if you currently can use “unrealized” shit to borrow against than it is perfectly fair for you to pay the taxes on that shit. it is absolutely not a “separate discussion”

[kadabra9]

I support some sort of disincentive to prevent HNW individuals from borrowing against assets for income.

I do not support wealth taxes or taxing unrealized gains (unless you get rebates for unrealized losses lol)

There SHOULD be some mechanism (idk what) to close the loophole of HNW individuals borrowing against an asset you have not sold to minimize actual income, but that doesn't mean its right, effective, or even legal to just mass tax all unrealized gains, just because this specific loophole exists currently.

So yeah, it is a separate discussion.

[bdangubic]

it is not a separate discussion because - at present - there is no such thing as “unrealized gains” - they are all realized and have always been. now we just want to tax it.

[lovich]

no, its not.

Articulate an alternative or deal with a non-optimal solution.

The status quo currently is leading to civil war.

[kadabra9]

I literally said there should be some sort of final penalty or taxable event associated with borrowing against illiquid assets and unrealized gains for very HNW individuals.