Re:IRS records reveal how the wealthiest avoid income tax
by lupire on Tuesday June 08, 2021 @05:09PM
(#27440830)
Huh? The government owns a percentage. The asset doesn't really matter. It would be a lein, to pay back at exit, not a voting share or whatever.
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Re:IRS records reveal how the wealthiest avoid income tax
by TimTheTinker on Tuesday June 08, 2021 @07:06PM
(#27442250)
How is that different from capital gains tax?
Unless you mean a series of leins incurred once a year based on price increases. But then an asset with high YoY volatility but no long-term gain would cause the lein sum to approach the value of the asset over many years, despite no material increase in price at exit. That makes no sense - the government profiting off of volatility alone.
If that's not what you mean, how is what you mean different from standard capital gains tax?