Do billionaires actually have billions of dollars cash?
Everything after $999,999,999 should be taxed 100%.
This implies it’s income, although if it’s taken as assets + unrealized gains then that would be very cool. Each year, anyone with cash + assets over $999,999,999 will get a bill from the IRS for the entirety of the overage. That would put sell pressure on real estate and stocks while funding (hopefully) social programs. Sounds like a good solution.
Do billionaires actually have billions of dollars cash?
This implies it’s income, although if it’s taken as assets + unrealized gains then that would be very cool. Each year, anyone with cash + assets over $999,999,999 will get a bill from the IRS for the entirety of the overage. That would put sell pressure on real estate and stocks while funding (hopefully) social programs. Sounds like a good solution.