38k is back in play.

The "Wealth Tax" debate is missing the point. The real issue is collateral. 🧵 Using stock to secure a loan (e.g., Elon buying Twitter) is functionally the same as selling it to buy another asset. Triggering a tax event on loans >$100M fixes this without the downsides of a wealth tax. It ensures the wealthy actually contribute to the infrastructure they use.🛣️🚸🧑‍🏫

Is Nostr Down?

Rich people get away with paying taxes by taking loans against their stock assets as #collateral. This should be considered a tax event otherwise you will never be able to get them to pay taxes **ever** yet benefit from the infrastructure middle class pays to build. This is a far better alternative to #WealthTax which I do not support. Elon buying #Twitter with #Tesla and #SpaceX stock as collateral should have been a tax event because it is no different than selling Shares of one company to buy another ** at that moment**. This tax should only apply to people with $100 #million or more otherwise.

Yes, wealthy people get away with paying taxes. Instead of a #wealthtax which I think is a bad idea, they should define assets used as #collateral to secure loans or purchases as a taxable event. When Elon buys #Twitter with Tesla stock it is nothing but selling #Tesla stock to buy Twitter stock hence a taxable event but without an actual sale. This taxable event should only apply to people with $100 #million assets or more. Shifting tax burden from wealthy to middle class is just transfer of wealth to make rich richer and poor poorer. Yes, this should apply to crypto too.

Nancy Guthrie’s ransom in #Bitcoin will bring back the conversations about crypto used by criminals for nefarious purposes

So many people on YouTube coming out to talk about how #Bitcoin is a Ponzi scheme bundling it with other crypto like fart coin.