If you can’t tax billionaires and trillionaire because “its unrealized gains until they cash out,” then stop letting them leverage that wealth for loans, as collateral, or as equity.
If it’s not real enough to tax, it shouldn’t be real enough to leverage.
This is why we say the system is rigged in favor of the super wealthy. Abolish billionaires, tax them out of existence, protect working people.
@QasimRashid thanks for explaining a basic financial fact that eludes 99.9999% of people familiar with the name #ElonMusk, who yet don't understand how #billionaires are made.There's a great #realitytv #investigativejournalism piece from #Channel4 in the UK that explains the logic of equity/borrowing really well. https://www.channel4.com/programmes/how-i-made-1-million-in-90-days