Did I say mandatory? I meant optional! You’re “free” to die in a cardboard box under a freeway as a market capitalist scarecrow warning to the other ants so they keep showing up to make us more!

  • jpreston2005@lemmy.worldEnglish
    42·
    2 months ago

    I mean the stock market is literally gambling, so the risk of success and failure is already there. The proposal is whether or not we should allow people to use unrealized gains to secure loans without having to pay taxes on said gains at the point of taking the loan. This would only occur if you’re worth more than 100 million. You can afford to pay that tax.

    • SirDerpy@lemmy.worldEnglish
      26·
      2 months ago

      I mean the stock market is literally gambling

      I’ve a better record of success than the most successful poker players. Is it ten years of good luck or the consequences of effort and skill?

      The proposal is whether or not we should allow people to use unrealized gains to secure loans without having to pay taxes on said gains at the point of taking the loan.

      Thus locking out all non-corporate investors from margin, prerequisite to options, prerequisite to risk mitigation and gains enhancement. The average investor looses the freedom to do much more than DCA a fund.

      This would only occur if you’re worth more than 100 million.

      1. It’ll never be passed in such a way. Legislation always favors the corporate and wealthy as they’re the ones that write it. It’s most perverse in finance and investment. There’s been nothing favoring human investors since the breakup of Ma Bell.

      2. It’s totally inadequate to save the republic from the nearly-unmitigated, algorithmically-optimized capitalism that exists today. The biggest fish, corporations, would simply get bigger by eating their biggest threat: humans with a lot of resources, but not the most affluent.

      The stock market is a tool. It’s not the cause.

      TL;DR:

      The neolib’s proposal is crap.

      This isn’t:

      1. legislate away most of corporate personhood

      2. restore the Glass-Steagall Act

      3. repeal the Interstate Banking and Branching Efficiency Act