that's the argument for a wealth tax. which is a dumb idea on many levels and I'm pretty sure it's just elizabeth warren trying to one up AOC after her 70% top bracket proposal got in all the news
Honest question: It sounds like he doesn't get taxed because he loses more than he makes because his property is losing money. So is the argument that you should get taxed on how much you have rather than how much you make?https://twitter.com/hmcghee/status/1089925765435658241 …
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The question is, to what extent is he losing money, vs shuffling money around to generate a loss on his tax return. If your net worth is going up, but you had negative income, did you make money or lose money? Many EU countries have a net worth tax tied to gdp growth, ~1%
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It is not unlike how my mil’s trust shows a loss because of depreciation, but actually there was a net cash gain. Jared may show losses but have plenty of money in his bank account.
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