ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing.
Take any of the other examples, it is obviously not what I meant. Instead, it is just a tax that exists for a different purpose (not income) that happens to change with value.
Yes, you are supposed to pay taxes on that (or on the house specifically). It’s called property taxes.
If the value goes up, you pay more taxes the next year, if the value goes down you pay less.
Take any of the other examples, it is obviously not what I meant. Instead, it is just a tax that exists for a different purpose (not income) that happens to change with value.