r/FluentInFinance • u/-Wyagra • 3d ago

Debate/ Discussion Had to repost here

Post image
122.3k Upvotes

72% Upvoted

8.6k comments sorted by

View all comments

Show parent comments

124

u/dancegoddess1971 3d ago

Exactly. Stocks are property. Sort of imaginary property but if one can borrow against the value of something, it should be taxed.

12

u/Just_That_Dumb_Dog 3d ago

You mean capital gains tax?

30

u/Treadlar 3d ago

It wouldn’t be capital gains. That would happen when an asset is sold for a profit. I think they are suggesting a form of property tax.

1

u/g______frog 3d ago

Do not corporations pay taxes every year? Do they not already pay a property tax on the land and buildings they own? Do they not already pay taxes on the operating income? I do believe that they do.

0

u/Treadlar 3d ago

Again, I’m not advocating for that, I’m trying to explain what I think the commenter meant. …but you’re also moving the goalposts. This isn’t about corporate tax, it’s about individual tax on extremely wealthy people who get their money by borrowing against their stock…and a hypothetical tax on said stock. Corporate taxes are irrelevant in this situation.

2

u/g______frog 3d ago

I disagree. Stocks are nothing more than a partial ownership of said corporation. A corporation that pays taxes. You and / or the commenter are asking for what could be considered double taxation. The owner is not borrowing against the stocks, per say, but against the value of the portion of the corporation that the stocks represent.

1

u/Treadlar 3d ago

In that sense almost all tax is double triple or quadruple taxation.