The Cellar / People Mostest Rich

**Posted by xoxoxoBruce** 11/17/2021 1:52 pm

Musk, Bezos, Gates, Buffet, plebeian pikers in the course of history.
The top bakers dozen are...

**Posted by xoxoxoBruce** 12/19/2021 3:47 am

Here's 4 rich people...

I'm not comfortable with the tax their wealth plans.
OK, the value of your company went up with the market so you're taxed on that increase in wealth.
Then the market and the value of your company goes down, do you get a rebate?
Value and net worth are a tricky calculation and not a good basis of taxing.

**Posted by Happy Monkey** 12/19/2021 1:19 pm

xoxoxoBruce wrote:
OK, the value of your company went up with the market so you're taxed on that increase in wealth.
Then the market and the value of your company goes down, do you get a rebate?

Probably a deduction, similar to other capital gains.

**Posted by Diaphone Jim** 12/20/2021 1:08 pm

What difference does it make if you own a quarter of the world, but can't buy a chocolate milkshake?

**Posted by xoxoxoBruce** 12/25/2021 12:50 am

Undertoad wrote:
guess what

One year then what? I'd guess back to the previous pattern.

**Posted by xoxoxoBruce** 12/25/2021 12:53 am

Happy Monkey wrote:
xoxoxoBruce wrote:
OK, the value of your company went up with the market so you're taxed on that increase in wealth.
Then the market and the value of your company goes down, do you get a rebate?
Probably a deduction, similar to other capital gains.

Assuming you have any income to take a deduction.