You and will never agree. The government only siphons money leaving us with crumbs.
We are so rich yet so poor. Not because of billionaires, but because our government is a multi-trillionaire in bankruptcy. All of those trillions comes from you and me.
This is a great visualization of what the issue is. Keep in mind, this is accelerating, due to the feedback loop I mentioned earlier.
I understand the problem. The solution is not thru taxation.
If that taxation encourages the .05% to return assets to the economy, then it may achieve some portion of equality.
There has never been and never will be a perfect economic system. The one we have has probably been one of the best so far. But people who study this type of thing are seeing a major flaw. Is it not prudent to explore options to address the flaw?
[quote="Ryan Uecker, post:165, topic:245848, username:ruecker”]
Is it not prudent to explore options to address the flaw?
[/quote]
We can start with “our” national debt.
Looks like red and blue are trying to outdo each other, lol.
That part means nothing. It is “our” national debt that needs to be paid down.
The only way we pay it down is by reducing spending and/or collecting more revenue. I’ve said it over and over, the answer is a little of both. That takes compromise by our leaders. And that doesn’t happen much anymore.
Collecting more “revenue”/TAXES is ALL that continues.
And, the debt rises non-stop.
How about we put on our big boy pants and reduce spending?
Red and Blue are 90%+ uni-party DS swamp stooges, the illusion of “different sides” is just that, an illusion.
I’m game. But then again, I’m not the one in control of our checkbook.
How does it get back to the economy? Selling assets? That reduces value. Who gets the proceeds? The government. Another reduction in value.
We can do better. I posted an interview once of a legitimate business visionary that can actually help if more people got on board.
When an asset is sold, it doesn’t disappear. Depending on the type of asset, there are many ways it gets spread throughout the economy.
As an example, consider when real estate is sold. How many people get revenue from a real estate transaction?
Do any people you know get revenue from a real estate transaction?
And you think selling assets to pay unrealized gains, where the profits go to the government, is the same as a home sale?
Anyway. Cuban made some good points though I think he is part of the overall problem.
I have no idea what you are trying to twist my words into, but nonetheless, a portion of all profit is typically due in taxes. There are some exceptions however. For instance, when you sell your primary home, the first $250k/$500k of capital gains is exempt from taxation in most cases.
Honestly, I can’t believe your rationale. Forcing the sale of an asset to pay a tax debt will not close the wealth gap, elevate the middle class, reduce national debt, or spur the economy.
The first reason this will not work is the intense corruption and bloat within our government. Whatever billions we rake in will be siphoned off immediately by the same criminals who brought us here in the first place.
There is also this unintended consequence. This happens when bureaucrats, not business experts, attempt to make policy. (especially when her father was a Marxists. As if he had no influence on her. It is apparent he does)
Cuban cites this as another reason. I cannot deny his logic. A point I made earlier.
“going to kill the stock market.” He said it would turn out to be the “ultimate employment plan for private equity.”
He underscored that by saying companies would not go public. He cited his own experience during the “internet days” when he was cash-poor but equity-rich.
It’s not forcing. It is discouraging the practice of buy, borrow, die. Or, continue to do it but pay some taxes.
Keep in mind, I’m not here to defend it, just to explain the reasoning behind it. I am not necessarily for taxing unrealized gains, nor do I think it will be easily implemented, or implemented at all.
I have a question. So, should I not borrow against my assets? No home equity loans? No car loans? Is building equity wrong? Is reverse mortgaging wrong?
The real problem people have is the social construct of capitalism, where wealth is transferable generationally. And because the government is in the way of average Americans from partaking in this, they want to penalize the benefactors as well as create another enemy for election purposes. Problem is, they identified the wrong enemy.
Then stop defending it. As I said, there are better ways to close the wealth gap.
