• @btaf45
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      020 days ago

      Income tax does not, in anyway tax asset gains.

      It’s called a capital gains tax doofus and it has existed forever. “Confident ignorance” is the worst type of internet post you can make, and you just did it.

      https://www.irs.gov/taxtopics/tc409

      • @theonlytruescotsman@sh.itjust.works
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        -220 days ago

        Capital gains tax is applied WHEN YOU CASH OUT THE ASSET. until you liquidate the asset, d o f u s, no tax is realized. The rich do no liquidate their capital except for 9+ figure acquisitions, they take zero interest loans against it as spending money.

        Your snide comment is ironic, as you have no idea how this works.

        • @btaf45
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          19 days ago

          Capital gains tax is applied WHEN YOU CASH OUT THE ASSET.

          Yes everybody knows that. Why the fuck would you think that in any way means we should not tax the rich?