You don't pay... This is a solved problem, wealth gain/loss would work the same way as capital gain/loss
You can use a net capital loss to reduce your taxable capital gain in any of the 3 preceding years or in any future year.
It feels like people that don't like this don't actually know how to whole system is supposed to work.
Yes, but how much cashflow did it have, and how much in dividends did the individual stakeholders receive.
It never didn't pay it's taxes afaik
Edit: I'm fact checking myself, Amazon's strategy is reinvesting all profits to support further growth. They were never in a position like the other poster is describing.
If the startup made no profit it would never be worth 1000000. You would only have a capital gain if value was realizable.
If you never made a dime from your initial 100000 investment you would sell off the asset at that point instead of paying taxes.
If you were too dumb to sell parts of your assets, and instead chose to be cash negative or fail to pay your taxes, you kind of deserve to lose everything because you were too stubborn to receive advice from anybody.
People do this exact thing all the time. Taking on debts to keep cashflow or avoid taxes is normal.
If you are just sitting on unproductive assets instead of realising their value in some way, you are doing the wrong thing.
You should be able to gain revenue from the asset or it wouldn't have appreciating value.
All your comments don't make sense, it's like you just want to take from the economy without giving anything back.
That doesn't take into account non federal tax.
https://itep.org/who-pays-taxes-in-america-in-2024/
This says it more explicitly.
using a more realistic definition of income that includes unrealized capital gains, they found that the same 25 Americans paid just 3.4 percent of their income in taxes during that period. If unrealized capital gains were included in these estimates, ITEP, too, would calculate a much lower effective tax rate for the rich
The top 10% as a whole pays 71.22%, while the bottom 50% of taxpayers account for only 2.89% of all income taxes.
This is misinformation, because it paints a picture of the rich being hard done by.
The bottom 50% pays an actual tax rate that is a higher percentage of their earnings than the top 50%. The richer you are, the more opportunity you have to reduce your tax burden. https://www.pbs.org/newshour/economy/column-much-poor-actually-pay-taxes-probably-think
Your own numbers are an indicator of massive income disparity.
I've met people like this
Yeah I feel like this makes it harder to have this app used as an educational resource.
Probably ensures that children can use it
https://youtu.be/EdzDCkFaskc?si=F8FB0Xn28YeZ9N90
I'm doing this and it works great.
When my server turns off everything stops working which is interesting.
Well how bougie of you