Sure that perfectly works because salaries are so high, I don’t need any other form of income at all. I’ll just forego any other investments because some rich guy might use them. Seriously, this is your solution? You do know it’s THAT rich guy that sets your salary, right?

Me too! WTF? Why? I mean I can see that statistical it may just be a thing, but mine is exactly in the right spot.

LOL. They really do sound like Star Wars names.

I’m sorry this happened but if it makes you feel better, I’d totally love to come over there and chow down on all of that stuff.

Ok. How much tax do they pay? And later when that stock quadruples and they sell, do they pay again or get a free ride for the extra it’s gone up because they’ve already paid? How many times to they get taxed on it?

I’m not ultra rich, but I have stocks that I’ve been purchasing for decades. I’ll be damned if it’s fair that I be taxed on a stock for a company that may go out of business before I ever see any profit. Why do we even assume it will go up? How about we assume it goes down and I get to write that off my taxes now and sort it out later if the assumption is wrong.

You’re literally trying to tax people on an imaginary number.

This isn’t common sense. It’s stupid. Please explain how it works.

And you can do the same thing. He got a loan using his stock as collateral. The stock has value. The bank can use that value to issue the loan as they see fit within federal regulations. They can do the same with your less than $100m portfolio.

How about we just make things fair so that the ultra rich pay their share? This is not the way. It literally makes no sense.

Put options are a specific investment vehicle. The OP is just making a blanket statement about unrealized gains. Many, many NOT rich people have unrealized gains. And there literally is NO value to tax. The investment could go bust and there is a loss, no gain at all. At what point in a long term investment is the tax assessed?

And WHAT gain exactly is being taxed? So you have a $1000 investment. The government decides, what, that you are a good investor and can make 20% so they’ll tax you on $200? So if you sell it at a loss, you get screwed. If you sell it for a 50% gain the government loses tax revenue? You know what, I’ll take that deal. I’ll invest money, pay the taxes on my unknown gain immediately, keep it for 20 years and boom, tax free, because I’ve already paid the taxes on the gain. You know I’m totally on board with this whole rich people suck idea, but this is just stupid.

No I meant intel, not Intel. Like 411. It was just coincidental.

Ummm I didn’t know they could be used as collateral. I’ll have to research that. It doesn’t sound right to me for the same reason they definitely should NOT be taxed. How does that even work? You buy stocks and you hold them, then, what the government taxes you every year until there ARE no gains. Or perhaps the stock plummeted and you have a loss, but it’s ok, you lost money on the investment AND to the government. Until you sell an investment you haven’t made any money on it and it should NOT be taxed. If you have a 401k this would affect you too, not just rich people.

I don’t know what TSMC is. Figured it was a company.

Well I think I would have guessed in my 40’s for me as well. Plus hitting it right on the head would be hard. I think you properly guessed I wasn’t real young.

It does take some dedication. I really like having friends and I feel sorry for people who have no one to turn to to help them or go to a movie with or play games. I’d like to think I’m young at heart. I don’t know if I am, but I would be sad if I didn’t have any buddies. Plus my wife and I don’t share a lot of the same interests, so I need someone else to fill that spot at times.

Keep practicing.

Ok. I’m 58. I think your actually pretty good at this. I think I come across as younger, on paper. Also, thanks for the compliment.

Not really that close. Would you like to keep going or should I confess?

I count to five before leaving the house. 1. Wallet, back right. 2. Cell phone, front right. 3. Keys, front left. 4. Watch, left wrist. 5. Sunglasses, usually tucked into my collar. Back left empty as well.

Hmmm, how many questions do you get?

Ummm yes I’m pretty happy. Leaving work is largely responsible for that. There is some stress. I’m married and my partner wants to move. I want to stay.

Man I answered and I don’t see it.

Yes. I play disc golf with some. Get together infrequently with some close long-term friends, pay video games online every Monday with my best friend that moved to the UK and zoom with a couple of high school buddies every month or so.

Yes. I play disc golf with some. Get together infrequently with long term friends, play online video games with my best friend that moved to the UK every Monday and zoom with a couple of high school buddie every month or so…

Correct.