rightwinger
Award Winning USMB Paid Messageboard Poster
- Aug 4, 2009
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No errorNot a transfer of wealth when I buy a new car. But I pay taxes on itWhat I like about the plan to tax stock transactions
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The wealthy learned long ago how to shield income from taxation knowing that their wealth was untouchable
Under this plan, every transaction of transferring their wealth would be taxed
A sales tax on the real estate and stock market
Under this plan, every transaction of transferring their wealth would be taxed
If I buy 100 shares of Tesla in my IRA, how am I transferring my wealth?
Those shares are a product that is bought and sold
And it's not a transfer of wealth when I buy them.
I'm glad I could help you realize and admit your error.
Treat buying stock in a company like buying and selling anything else