• Bytemeister@lemmy.world
    link
    fedilink
    Ελληνικά
    arrow-up
    1
    ·
    6 months ago

    No, you would pay taxes on the unrealized gains of your assets. So if your assets are worth 0, then you pay 0. If they are worth 20mil, then you pay taxes on 20mil.

    Just a quick reminder, one of the main principles of capitalism is risk vs reward.

    • breetai@lemmy.world
      link
      fedilink
      arrow-up
      1
      ·
      6 months ago

      That’s my point. They were worth 20 million. Due to legal restrictions I couldn’t sell. As such I would have to pay taxes on 20 million. When I could sell they were worth zero.

      So I would have ended up negative.

      • Bytemeister@lemmy.world
        link
        fedilink
        Ελληνικά
        arrow-up
        1
        arrow-down
        1
        ·
        6 months ago

        Sounds like that stock wasn’t worth the risk then. That’s capitalism in a nutshell brahski, people lose money betting on the market every day.

        • breetai@lemmy.world
          link
          fedilink
          arrow-up
          1
          ·
          6 months ago

          It was part of my compensation. It didn’t cost me anything.

          It’s naive to think we will ever tax unearned income. Not only is it against the law, it would destroy everyone.