this post was submitted on 13 Nov 2026
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Because that formula would TOTALLY not be played especially when most wealth these fuckers have is stocks.
Simply crash the market every Christmas, and you got your infinite money loop by having massive wealth during the year and reducing it for when the taxman cometh.
I mean imagine if that was the basis of income tax... you could get your salary on the 28th, come 1st, tax time, so you spend 2/3 of your salary, pay taxes on the remaining 33%, then return everything you bought by the 3rd.
At the very least a daily monitor of wealth needed and IMO taxing highest achieved wealth Vs lowest held wealth is the tax application base, not just arbitrary numbers taken at the end of the year.