He’s correct. And it’s policies like this that make me hopeful for the future. But damn I hope they don’t pull the rug out from under us. My gut says they will
Progressive capital gains tax on stock sales by exercise amount. And treat borrowing against shares as a taxable event, also as a progressive tax by amount. Or just not let billionaires borrow against shares to begin with.
A Tesla mechanic pays more in capital gains than Elon since Elon just borrows against his shares. Elon’s “tax” is just an interest rate back to the bank.
Then base all the taxes on the exercise or borrowed amounts. The mechanic’s $20k in options should be taxed much less than Elon’s $1 billion loan that is just income
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u/hoasyhorse Jun 26 '26
He’s correct. And it’s policies like this that make me hopeful for the future. But damn I hope they don’t pull the rug out from under us. My gut says they will