AfterNova@lemmy.world to Ask Lemmy@lemmy.world · edit-21 month agoDo billionaires have most of their income taxed as ordinary income or capital gains?message-squaremessage-square27linkfedilinkarrow-up161arrow-down11
arrow-up160arrow-down1message-squareDo billionaires have most of their income taxed as ordinary income or capital gains?AfterNova@lemmy.world to Ask Lemmy@lemmy.world · edit-21 month agomessage-square27linkfedilink
minus-square🏴☠️𝔊𝔯𝔞𝔳𝔦𝔱𝔞𝔰🏴☠️@pie.gravitywell.xyzlinkfedilinkEnglisharrow-up6·1 month agoThey just borrow money with their portfolio as collateral, the more their portfolio value increases the more they can borrow without having to cash anything out that woild result in capital gains.
They just borrow money with their portfolio as collateral, the more their portfolio value increases the more they can borrow without having to cash anything out that woild result in capital gains.