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Twelve U.S. Billionaires Now Have a Combined $2 Trillion (inequality.org)

submitted 2 weeks ago by [email protected] to c/[email protected]

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[–] [email protected] 1 points 1 week ago* (last edited 1 week ago) (1 children)

You mean income tax.

His stock options would be capital gains. But the loan trick works on either one. No selling stock, no capital gains taxes, paycheck/salary, no income taxes.

But you still get mansions, compounds and mega yacht fleets.

[–] chonglibloodsport 1 points 1 week ago (1 children)

And land value taxes work on both. I mean, unless he wants to live on that yacht and not own any mansions of course. But the land value tax is still going to get him (indirectly) when he pulls into the marina.

[–] [email protected] 1 points 1 week ago

I suspect a lot of mansions and compounds would become bank and company owned and the billionaires homes addresses would all be in the nearest tax haven.

It would probably do wonders for all the empty highrises in Boston and NYC, where all the Chinese and Arab oil wealth is stored.