realized capital gains too (of which Buffet makes most of his spending money I’m guessing
You’d likely be wrong. Most people with significant stock holdings get their spending money from small to no interest loans with the stocks as security.
One of the many ways in which the ultra-rich can and will game the system in ways not available to regular people.
Also one of the main reasons why unrealized gains need to be taxed.
Yeah agreed. The richest of people don’t even spend money. They literally take loans out against their exorbitant wealth and pay back such a tiny percentage that everyone who is rich wins, including them, because it’s just a calculated figure on how much they can continue to make off their capital gains
You have to pay tax on income
You have to pay tax on realized capital gains too (of which Buffet makes most of his spending money I’m guessing), but at a lower rate than income.
You’d likely be wrong. Most people with significant stock holdings get their spending money from small to no interest loans with the stocks as security.
One of the many ways in which the ultra-rich can and will game the system in ways not available to regular people.
Also one of the main reasons why unrealized gains need to be taxed.
Yeah agreed. The richest of people don’t even spend money. They literally take loans out against their exorbitant wealth and pay back such a tiny percentage that everyone who is rich wins, including them, because it’s just a calculated figure on how much they can continue to make off their capital gains