as the only asset that makes you that.

Top 5% of income is probably not even in the top 30% of wealth because most wealth is either inheritance or wealth hedged against ownership of a business, property or other assets.

And the latter moggers never pay tax - they just keep it in a portfolio and borrow money from banks at interest less than what their portfolio earns them and live on debt.

Meanwhile the average wagie has no access to debt like that because banks know very well one illness or recession and that asset is poof!

So they never ever "tax the rich/billionaires", they just tax the top end working commoner.


Here is some sausage on British TV trying to explain it in a very poor fashion to other commoners so they end up kinda booing him:

Yes they should be saying they'll tax cap gains more but this is just a game they play to placate their socialist retard base who think it's only Republicans who cater to the wealthy

It is difficult to tax wealth

no problem


then, they should stop saying tax the rich

Yeah, you have a point. Some people have gotten rich off leveraged ETFs over the years during the stock market bull. For example, TECL was .34 a share in 2008 and now its about $30(well below its all time high of $88 per share. If you put 10,000 in spxl 10 years ago, it would be just over $100,000 today (Source:https://screener.fidelity.com/ftgw/e...l?symbols=SPXL)

If you don't earn much but put a lot in leveraged ETFs for the past 10 years, you will only be taxed on long term capital gains. Same with Crypto of course. That said, a doctor earning like $350,000 but spent a bunch of $$$ educating his kids through college , and grad/medical school and put much of his money in bonds and money market would still be taxed a lot.