Reported about 2 months ago
Billionaire investor Bill Ackman has proposed a new tax strategy to ensure the ultrawealthy contribute a fairer share of taxes. His plan suggests taxing individuals based on how much they borrow against their stock rather than imposing a broad federal tax on unrealized capital gains. This approach aims to close tax loopholes while protecting the entrepreneurial incentive, specifically targeting the wealthy who secure loans against their massive stock holdings. Ackman's idea comes amid increasing scrutiny of income inequality and the tax contributions of America's billionaires.
Source: YAHOO