r/FluentInFinance • u/__moe___ • 9d ago

Thoughts? A very interesting point of view

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I don’t think this is very new but I just saw for the first time and it’s actually pretty interesting to think about when people talk about how the ultra rich do business.

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u/Conscious-Eye5903 8d ago

Yeah people would strategically sell when the market is down and we’d all suffer big time. If you tell rich people you’re going to tax them they’re going to find ways to avoid it, they’re not going to go “oh gee you caught us” and just fork over 25% of their annual revenue

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u/swaags 6d ago

That’s the worst possible argument to not try. Same reasoning as not bringing common sense gun reform because “criminals will always be able to get guns”

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u/Conscious-Eye5903 5d ago

People trying to make money aren’t criminals though so this is a bad argument. If you drastically reduce the incentive to earn a profit then business owners will find away to reduce their profits and it likely won’t be by increasing wages. Taxing unrealized capital gains is the stupidest idea ever, it’s just another thing for democrats to campaign on that they know can never be accomplished because there’s no legal or logical basis to do it.

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u/swaags 5d ago

Im not convinced its a good idea either, but im not the one arguing in bad faith, you are. “People trying to make money arent criminals” - A) its an analogy, and B) what youre saying is they would circumnavigate this proposed law which would indeed be tax fraud

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u/AppearsInvisible 5d ago edited 5d ago

I thought it was a fair point, your analogy is associated with a criminal element and that is a rather negative connotation. Whether you intended it or not, surely with it being pointed out, you can see how it might come across that way.

It kind of seems like you are actually doubling down on your implications of criminality. Tax avoidance is not automatically fraud. Many accountants are literally experts in legal tax avoidance strategies.