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US Politics 7w

discotheque

 Just to be abundantly clear I completely disagree with 99% of this guys politics but this is a broken clock right moment
3 upvotes, 3 comments. Yik Yak image post by discotheque in US Politics. "Just to be abundantly clear I completely disagree with 99% of this guys politics but this is a broken clock right moment"
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Anonymous 7w

I just have a lot of questions about how this would work. Like what incentive does anybody actually have to put anything in this account? If billionaires can still just borrow against their positions without having to hold them in this IRA then I don’t know why they’d sign themselves up for effectively a 50% tax on any money they want to spend. Plus I don’t see much benefit for anyone else either

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Anonymous replying to -> #1 7w

The tweet is intentionally vague but the idea is you can buy, sell, trade,and get paid in stock and it all happens in that account but the only thing is is that any withdrawal is taxed at 50%. Why he says 100% idk that would mean all the money you withdrawal is taxed.

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Anonymous replying to -> discotheque 7w

Right yeah, it’s essentially a 50% tax on anything spent from that account, or a 100% sales tax on anything you buy using that account, depending how you look at it. But either way, I think there’d need to be some advantage for billionaires for them to want to put anything in that account. Otherwise it makes more sense to just loan against their stock or sell it and take the capital gains tax, especially if they held a long time

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