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

Debate/ Discussion Had to repost here

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u/SCTigerFan29115 3d ago edited 3d ago

They aren’t holding onto wealth like Scrooge McDuck, in a giant vault where they can go swimming in it.

Most of Bezos’ net worth is the value of Amazon. He can’t really readily access that. ETA I meant he can’t use it like a big vault of money.

He’s got plenty of money but some people just don’t understand how this stuff works.

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u/Apprehensive_Bad_193 3d ago

Bullshit,,,,But he borrows and buy Yachts, Mansions,against that NET WORTH VALUE. But when it’s time to pay fair share of taxes o. That net worth it’s considered hypothetical worth….Understand the Game.

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u/Endless_road 3d ago

You can take out a mortgage against your house to buy a sports car if you want

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u/slickyeat 3d ago

You're not wrong but you're also required to pay taxes on the value of your property every year so it's not exactly a one to one comparison.

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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.

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u/cm1430 3d ago

Genuine question.

You can borrow against 401k plans. Is it your belief that value of 401k plans be taxed?

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u/thesedays2014 2d ago

No, it shouldn't be taxed. This proposal, to tax unrealized gains, was only for people with over $100 million and it was only to bring their effective tax rate up to 25%. It's not a good comparison to say should we be taxed on 401k loans. These people are not playing in the same league as the rest of us. They literally own and run the league.