it s true. if you have a huge stock portfolio, mr. bezos has $100 million in stock, you can deduct it year after year after year and brokerage company will sell some but you can go forever without paying income taxes because you don t have taxable income. that s the secret. here we are. the secret on live tv. so is it viable to do a wealth tax like senator warren and others advocated? of course, this country was founded by the founding fathers who had wealth taxes and charged people taxes based on their wealth in their real estate. nowadays people that own a home, homeowners pay a wealth tax because they pay tax on most of their wealth, which is houses every single year but
most people will be in multiple life times. are you multiple with that rate? look, i think it depends on the context of what kind of rate you are talking about. but, overall i tend to think that lower taxes tend to work better in unlocking innovation and allowing people and giving them the means to succeed. if you are asking my opinion i would like to move away taxes while they are alive incentive through income, even through low capital gains taxation. bring it back at the end. at the end of the day, i m not a big fan of creating inner generational wealth taxes. take a flat tax today. a low flat tax from everybody in turn that s a system where it s going to come back in the end so you don t indoctrinate inner generational dynasties. i don t think his kids will be better off inherit vast. mars while he is alive much better bet than nancy pelosi wants to do any given way. that s not something i hear coming from republicans or democrats. that to me the system i would
get this done eventually, but we need more time. it s a question of whether bridging this divide between progressives and moderates. meanwhile, democrats insist the bill will be paid for, but finding the money has been a difficult process. now there s a new proposal to tax billionaires. how will it work. yeah, a difficult process, and one that s being hashed out in the 11th hour of these negotiations. you ll remember last week, senator kyrsten sinema reminding her fellow colleagues on the hill, she does not want to see a tax hike on the wealthy or corporations, at least not in the way that they were initially planning on doing it to pay for a large bulk of this social spending bill. instead, what we ve seen is senators going back to the drawing board. initially, we have seen a conversation about a wealth tax. that s not how this is going to play out in the conventional sense that we used to talk about wealth taxes back during the 2020 campaign, when senator elizabeth warren wanted