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Temporarily embarrassed millionaires pt. 2 (sh.itjust.works)

submitted 10 months ago by brbposting to c/[email protected]

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[–] abraxas 1 points 10 months ago* (last edited 10 months ago)

Have you been keeping track of politics AT ALL? You’re if fool if you don’t EXPECT precisely that to happen.

I largely disagree. I don't wear a tinfoil hat, sorry. I have seen successful execution of homestead related profit protections, and there are very few "gotchas" in it, if any, for non-millionaires.

I'm an American, so blame my patriotism. But I like to think if EVERY other country can do it, we're not so pathetic as a country that we cannot.

like increasing income tax rates on the wealthy

There's a ceiling on the revenue potential in that. The wealthier you get, the less your income is "income". The wealthy don't even try to "avoid" it, it's just not relevant to them. Bezos wasn't lying that year he only made $80k in income. His unrealized capital gains simply were not taxable unless he chose to sell off lots of Amazon stock (which has non-tax-related repurcussions for him).