Bezos donates $100M each to CNN contributor Van Jones and chef Jose Andres

Re:Bezos donates $100M each to CNN contributor Van Jones and... by alberth on Wednesday July 21, 2021 @04:50PM (#27911989)

Let's pull on this thread some more.

So if I purchase a home and it's my primary dwelling, and the fair market value of my home goes way up (like more than what my homestead cap is) - I should pay INCOME taxes on this UNREALIZED gain?

See why this is so bonkers.

Don't get me wrong, I'm totally in favor of the super rich to pay more in taxes ... but they are not using any "loop holes" here or getting preferential treatment. It's just that they have radically way more unrealized gains than ordinary people do.

It'd be interesting if all those people who had huge unrealized Bitcoin gains had to start paying ordinary income taxes on it.

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Re:Bezos donates $100M each to CNN contributor Van Jones and... by fogof on Wednesday July 21, 2021 @05:28PM (#27912446)

In the comment you replied to, the commenter says:

> If most of your on-paper net worth is unsellable assets, I don't think it would be much of a stretch to say those wouldn't be subject to a hypothetical wealth tax.

Wouldn't a primary dwelling fall under this umbrella?

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Re:Bezos donates $100M each to CNN contributor Van Jones and... by alberth on Wednesday July 21, 2021 @06:11PM (#27912835)

I don't think so.

A home is a tangible asset easy to sell. Paper shares in a startup is totally different.

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Re:Bezos donates $100M each to CNN contributor Van Jones and... by digianarchist on Wednesday July 21, 2021 @06:44PM (#27913104)

In the UK this is how they planned to fund social care. Taxes would be collected when you sell your home but "levied" earlier.

It was labelled the Dementia Tax and was deeply unpopular.

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