“We don’t tax wealth, we tax income. For people who have a huge amount of property and are ultrawealthy, they can avoid having very much income.”
Unrealized gains are, essentially, income—just ask the bankers who accept them as collateral. But Congress has never touched them.
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Source: at://did:plc:kkf4naxqmweop7dv4l2iqqf5/app.bsky.feed.generator/news-2-0
Author: Mother Jones (@motherjones.com)
Unrealized gains are, essentially, income—just ask the bankers who accept them as collateral. But Congress has never touched them.
View on Bluesky
Source: at://did:plc:kkf4naxqmweop7dv4l2iqqf5/app.bsky.feed.generator/news-2-0
Author: Mother Jones (@motherjones.com)