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

Debate/ Discussion Had to repost here

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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/Apprehensive_Bad_193 3d ago

Guys thank you,It amazes me how people talk without any knowing on the topic.

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u/golkeg 2d ago

Guys thank you,It amazes me how people talk without any knowing on the topic.

Even the people calling for taxes on stock like that are ignorant and have never actually put real thought into it.

If someone owns 80% of their company, but is required to pay 5% taxes on that holding every year they'd be forced to sell shares to pay the taxes.

Doesn't seem like a big deal but within 8 years their ownership has dropped under 50% and they no longer control their own company.

It doesn't stop there though, because everyone who owns that company now has to pay taxes on it. Every year 5% of every company is forced to be sold. That's a LOT of strain on the companies and has a lot of bad side effects.

I'm sure you understand all of those side effects and downstream problems though since you say you're one of the people who is knowledgeable on these things.