Billionaire investor Bill Ackman suggests a targeted tax approach for the ultrawealthy, advocating for taxes on borrowing against stock instead of taxing unrealized capital gains.
Ackman argues, 'If you have $10 billion of stock in a company you founded, loans secured by the stock should be taxable as if you sold a like amount of stock.'
He emphasizes that taxing excess borrowing against stock would not stifle innovation but ensure that the wealthy pay their fair share without harming entrepreneurship.
Ackman's proposal follows controversy over Kamala Harris' support for a tax on unrealized capital gains, which critics argue could hinder innovation among tech founders.
[
Collection
]
[
|
...
]