Plenty of them do have income, and when they say “positive income,” that means they’re going to ignore losses or other tax write-offs in this calculation. They’re also targeting partnerships with assets over $10 million, which is huge
Dipshits like Musk and trump will take loans out on capital gains, and pay off the interest from older loans with them (and live on some of it,)
It’s why the stock market is so important to all of them. They need their assets- stock shares, private companies, real estate- to always go up.
The reality is though that people that do that are over-leveraged and have near-zero net worth. Which is exactly why Trump is having trouble securing those bonds.
Let me throw more cynicism there.
Don’t most of the 1% have little, if any, “income”? Don’t they have shit like stocks or loans secured with stocks or other holdings?
Plenty of them do have income, and when they say “positive income,” that means they’re going to ignore losses or other tax write-offs in this calculation. They’re also targeting partnerships with assets over $10 million, which is huge
I think so, although CEOs definitely have high incomes.
I’m more positive about the corporate stuff.
Dipshits like Musk and trump will take loans out on capital gains, and pay off the interest from older loans with them (and live on some of it,)
It’s why the stock market is so important to all of them. They need their assets- stock shares, private companies, real estate- to always go up.
The reality is though that people that do that are over-leveraged and have near-zero net worth. Which is exactly why Trump is having trouble securing those bonds.
Given recent moves they’ve made, I would assume this is also targeting actual groups, and not just carefully slicing to target nobody.
I’ve moved in these circles, and people stretch rules obscenely, because “it’s legal until you’re audited.”