• Cheems@lemmy.world
    link
    fedilink
    arrow-up
    11
    ·
    1 year ago

    Not to mention the fact that a lot of rich folks can use tax loopholes to pay even less in taxes then the average person. Which is massively fucked up

    • grahamsz@kbin.social
      link
      fedilink
      arrow-up
      16
      ·
      1 year ago

      But I think we focus on the wrong loopholes. The ability to accrue capital gains forever and not pay taxes on it, then die and let your heirs take advantage of a basis step-up is fucked up. Maybe if your net worth exceeds a certain amount then you should have to mark-to-market annually and pay taxes as if you sold and rebought at the market price.