The tax applies only to individuals with at least $100 million in wealth and mostly affects hedge fund managers.

t_d thread: https://archive.is/5pFXr

here's fox news trying to convince people that the tax will mean that if your home goes up in value, the government will take your house: https://archive.is/Ay89M

"This would be the most crazy tax structure we have ever seen. It makes Venezuela look normal. It makes Russia look normal," Gingrich stressed. "That speech last week in Raleigh, where [Harris] outlined her economic plan, that was crazy. That was so far to the left of Bernie Sanders that Gorbachev in Russia would have thought it was a radical speech."

  • hexaflexagonbear [he/him]
    ·
    3 months ago

    Think it's for people with extremely high net worths ($100 million+).

    It's also a recipe for owning nothing. Nothing solid or fungible. You would look at a Thing, and say, this is going to cost me This Much. If its value goes up. And inflation is going to happen, so of course its numerical value is going to go up.

    From t_d thread and the tax doesn't apply to "things" it applies to stocks. And the bit about how you would consider how much owning a thing would cost over time including inflation is already how assets are valued.

    • barrbaric [he/him]
      ·
      3 months ago

      But what if you buy a sandwich and then the value of the sandwich goes up after you eat it!??!??! They're going to tax your poop!