9 ms·

if you are worried about being able to afford the taxes on your assets then you just plain arent rich enough for it to apply to you, dont worry you are safe

• tristor 2y ago
  This is almost certainly untrue. The issues is that at any asset level, the tax itself can force a sale, which forces realization of gains. Whether that is on-balance more than the value realized is another question, but it definitely could force a sale at any asset level depending entirely on the ratio of your liquid to non-liquid assets. So, in effect, the question is, should the government use tax as a club to force you to sell assets? Does this have any benefit for the economy/society?
  • itsdrewmiller 2y ago
    Any asset level over $100mm you mean.
    • tristor 2y ago
      Given historical precedence, it's almost a certainty that it will not stay at that level, but regardless the context of my response was someone basically saying that high net worth individuals wouldn't have a problem paying the tax, and that's almost certainly not actually true.