• sonofearth@lemmy.world
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    13 hours ago

    For that you need to first receive the income and book the capital gains. If you ever filed your taxes you would know. A 3% wealth tax on non cash assets would be more effective and productive. There are provisions where if you take out a home loan, you can deduct its interest from your salary or income to reduce your tax liability. Billionaires (or even the middle class) do that often. This builds assets as well as allows for a lower tax liability.