Also, i think income tax is double taxation. Businesses are the key market players in an economy so why not orient all taxation around them? Do away with personal income tax and property tax. Keep/increase sales tax, luxury tax, sin tax. And clamp the largest salary in a company to be allowed no more than 20x the average salary in the company to address wage disparities. If the CEO deserves a 1 mil bonus, the average employee deserves at least a 50k bonus. Also, no worker's rate can be paid less than 1/20th the salary than the average employee. The more spread out the dollars are, the better it is for the economy.
thewebroach
joined 1 year ago
So with a 401k loan, which is kind of this, you are limited to borrowing against it by like only up to 50% of its face value due to factors such as market volatility. And then all payments made to that loan are with alreaey taxed income, so you aren't securing money in any way that dodges taxation.
Also using shareholdings is no different from using a house or property as collateral... property equity has unrealized value until it is sold too. One might argue you pay property taxes on that equity, but ideally, the company behind the stocks you own pays property taxes for its ownings annually, so that's still happening. So the real problem is large companies dodging taxes due to exploiting broken tax code loopholes.
Thats probably why Trump picked him.
It's still the same situation with illegal drugs, but America outsourced the production and supply chain largely underground (and to other countries as they are much easier to smuggle than alcohol.) So same problems and empowering gangs, but happening outside Americas borders, and thus not America's problem. Most present day issues with drug cartels are a derivative of America trying to control peoples' access to substances and driving them from the open market to the black market... seems to have done a lot more harm to the world and peoples lives than good (as an opinion).
Maybe one of the times he failed outright and another time he only got to 2nd base
https://www.bankrate.com/retirement/borrow-from-401k-loan/