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Forgejo is now copyleft, just like Git
(forgejo.org)
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this post was submitted on 23 Aug 2024
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Let's say I give $100,000 to a friend that starts a start-up. You claim after some years that investment is worth $1,000,000 and want me to pay $150,000 tax
I take out a loan for $150,000 because the startup didn't make any profit. The startup goes bust. I now have a $100,000 loss and I paid $150,000 in taxes. Thankfully I can write $3000 off on my taxes every year until I die!
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.
Amazon had its first profitable year in 2003. It was worth 21 billion dollars.
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.
There were companies that didn't survive the dot com crash despite being worth billions. Amazon is a company you would recognize, even though a better company is pets.com
If you bought their stock you would be very rich for a very short while until it went bankrupt
https://ycharts.com/companies/AMZN/revenues_annual
For reference
Did I say zero revenue? I said didn't make a profit. Lots of companies made money, but couldn't make more money than they spent. You can easily have an investment that is valued high that you can't cash out
Let's say you bought some stock now, at the end of the year it's worth $1,000,000 and you get charged $150,000 in April. Big problem, the brokerages stopped allowing you to sell the stock and it crashed down, so now your GameStop stock is worth $100,000
How do you pay?
You don't pay... This is a solved problem, wealth gain/loss would work the same way as capital gain/loss
https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-12700-capital-gains/capital-losses-deductions/you-use-a-capital-loss.html
It feels like people that don't like this don't actually know how to whole system is supposed to work.
Canada?!