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A comment on Are super-rich people just better at making money?. Parent comment

Re:Are super-rich people just better at making money? by renonce on Thursday December 22, 2022 @08:41AM (#34093096)
Not familiar with the US tax code, but if Musk borrows $1b with a portion of his Tesla stocks as collateral, will he be charged capital gains tax by assuming that these stocks are now worth $1b?
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Re:Are super-rich people just better at making money? by prottog on Thursday December 22, 2022 @10:27AM (#34094249)
In the US and most places, you are only liable for capital gains tax on realized gains. The shares have to change hands before a tax is due.
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Re:Are super-rich people just better at making money? by WalterBright on Thursday December 22, 2022 @03:15PM (#34098049)
When you die, the value of the stock at time of death gets whacked by inheritance tax, which is 40% at the federal level and 20% at the state (in Washington) level.
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