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The rich convinced us that taxing them is too complicated but everyday people can be taxed pretty easily
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this post was submitted on 24 May 2026
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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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- All workers must be paid a living wage for their labor.
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What happens when my socks value decreases 30% one month? Do I get a tax refund?
Got some bad socks there brother
Lol! Ya got me! Yeah, autocorrect is a bitch, and I failed to verify the text. Socks = stocks. (And it tried to change it to sticks that time).
No, since you didn't make any money and was not taxed. Also, the bond issuer is now in bankruptcy and/or being sued into bankruptcy. I might even get back the principle depending on the output of the legal proceedings.
It depends on the details of the implementation. There are many possible solutions.
If we change it so the rule is like "if you use stock as collateral to get a loan, that is income and taxed as such" then no. You might just default on your loan, but that's kind of on you and the bank for using a volatile asset as collateral.
I appreciate that you took the question seriously and offered a useful response.
What happens to the property taxes you paid when your property value tanks? Do you get a tax refund then? No? Then no.
Ah, yes. It's the old "one injustice makes a new one okay" argument. Hate much?
Taxes are not injustice. And being unsympathetic to the risks that the owning class has to endure is not ..."hatred". More money, more problems, cry me a river.
Taking away savings that were already taxed is an injustice. The american revolution was triggered by less - merely taxation without representation. Imagine your 401k going down by 20% per year due to the annual wealth tax. Then when you pull out the money you pay income tax on that. Sound fair?
I'm not American and I'm 100% not interested in solving stupid problems caused by the contradictions rooted in the USA lacking a civilized welfare state. Tax your rich to fund a proper old age pension system. I don't care about your stocks.
Well, I can agree with you on that. Having lived in Europe briefly, I am aware of the stupidity over here.