Comment on But how would they be able to live on that?
FiniteBanjo@lemmy.today 2 months agoIf a hypothetical unrealized gains taxed passed today then there is a chance of poor people getting F-ed in the A, especially people with retirement funds or VYM shares. There is even a chance it hurts the poorer 80% more than the richer 20%.
The 2016 Tax Reform is a great example of that, it got tons of support from poor people and middle class and in the end it fucked them all in the A.
jj4211@lemmy.world 2 months ago
Depends on the structure. If it’s 3% on value over 5 million, then the bottom 95% will not even have a dent. If it is paid by even average retirement funds, but funds more expensive Medicaid or your kids college education, you still win. It all depends on the details.
I suppose there might be some sell off to cover the tax bills if the wealthy, but it probably wouldn’t shake the markets too much.