this post was submitted on 09 Dec 2024
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Work Reform

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A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.

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[–] Viking_Hippie@lemmy.dbzer0.com 4 points 1 week ago (1 children)

realized capital gains too (of which Buffet makes most of his spending money I'm guessing

You'd likely be wrong. Most people with significant stock holdings get their spending money from small to no interest loans with the stocks as security.

One of the many ways in which the ultra-rich can and will game the system in ways not available to regular people.

Also one of the main reasons why unrealized gains need to be taxed.

[–] kautau@lemmy.world 2 points 1 week ago

Yeah agreed. The richest of people don’t even spend money. They literally take loans out against their exorbitant wealth and pay back such a tiny percentage that everyone who is rich wins, including them, because it’s just a calculated figure on how much they can continue to make off their capital gains