General Discussion

markodochartaigh

(5,296 posts)

29. Not only that,

Fri Feb 20, 2026, 01:19 AM

7 hrs ago

but the very wealthy can borrow against the value of their assets (i.e. stock) for their living expenses or whatever and the interest is tax deductible.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

42 replies

= new reply since forum marked as read

Highlight:

We Need to Talk About Rich People [View all] Haggard Celine 9 hrs ago OP

I've had the same thought. Nobody needs millions or billions of dollars in cash or properties to live a good life... wcmagumba 9 hrs ago #1

I agree. Haggard Celine 9 hrs ago #2

And get rid of stepped up basis TexasBushwhacker 9 hrs ago #6

They have it figured out, don't they? Haggard Celine 8 hrs ago #10

And all that hoarding of capital TexasBushwhacker 8 hrs ago #11

I think they're trying to fix the economy so that it runs on Haggard Celine 8 hrs ago #15

But that's not sustainable TexasBushwhacker 8 hrs ago #16

Texas, you have an answer for me regarding how much stepped up basis you're willing to exclude? PeaceWave 8 hrs ago #18

I think that's what we should shoot for. Haggard Celine 8 hrs ago #19

That's what I wonder about too. AZJonnie 5 hrs ago #35

I often wonder how many of the common people do not understand this- no wonder the rich don't want Stargazer99 3 hrs ago #37

ALL stepped up basis? Throwing the baby out with the bath water, isn't it? PeaceWave 8 hrs ago #12

Of course, and I have no problem with a spouse TexasBushwhacker 8 hrs ago #13

Okay, so you've already made an exception for a spouse. What about for children? And, how much? PeaceWave 8 hrs ago #14

Not only that, markodochartaigh 7 hrs ago #29

Let them earn (or steal) as much money as they want but Marie Marie 9 hrs ago #3

I think that's fair. Haggard Celine 9 hrs ago #5

Makes me sick! CountAllVotes 9 hrs ago #4

They think it all should be theirs. Haggard Celine 9 hrs ago #8

Line em up VanceFan 9 hrs ago #7

A health care system would be a nice start. Haggard Celine 9 hrs ago #9

Immigrants Aren't Stealing Your Jobs Mr.Bee 8 hrs ago #17

He said he was going after criminals and Haggard Celine 8 hrs ago #22

And it isn't capitalism Figarosmom 8 hrs ago #20

OP, I notice that you didn't define either "wealthy" or "rich." How do we know who to go after? PeaceWave 8 hrs ago #21

Just like everything else, the government would have to decide Haggard Celine 8 hrs ago #23

Eventually though, these kinds of suggestions must narrow down to a specific number... PeaceWave 8 hrs ago #24

Well, any number is going to be Haggard Celine 7 hrs ago #27

Without actual numbers regarding the taxation of wealth, the discussion collapses into vaguery... PeaceWave 7 hrs ago #28

I don't know all the laws about Haggard Celine 7 hrs ago #31

Found this book at the thriftstore Puppyjive 7 hrs ago #25

Reagan broke the guardrails that prevented this. I don't think live love laugh 7 hrs ago #26

On limiting how much people can accumulate canetoad 7 hrs ago #30

I just want to take a lot of the power Haggard Celine 6 hrs ago #32

Elon Musk canetoad 6 hrs ago #33

Well said! Haggard Celine 6 hrs ago #34

The most doable thing with the best bang for buck is to invalidate Citizens United and force public funding of elections AZJonnie 5 hrs ago #36

It all goes back to that. And that goes back to the complete corruption of the Supreme Court under Roberts. Scrivener7 46 min ago #39

I was just thinking this morning that we didn't use to be so dependent on giant privately owned corporations. Scrivener7 47 min ago #38

Well said. Haggard Celine 22 min ago #41

You want them taken down a notch? OldBaldy1701E 28 min ago #40

Yes! AND stop giving them your money! I don't get why people won't do this. Scrivener7 15 min ago #42