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They eliminated cashiers and keep the profits. NY Democrats are fighting back. (thelemmy.club)
submitted 4 weeks ago by to c/workreform@lemmy.world
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[–] 28 points 3 weeks ago (1 child)

Define pay such that it includes stocks, bonuses, rebates, real estate, food, clothing, transportation, or any other item that can be exchanged, borrowed against, or otherwise converted to cash money. When they find a loophole just close it.

The problem with this isn't the concept. It's getting politicians to implement it.

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  • [–] 5 points 3 weeks ago (4 children)

    It’s a pretty good loophole though. A stocks value is considered an unrealized gain when you receive it but don’t sell it. My company gives me stock, but I don’t sell it. If I had to pay taxes on that, I’d be fucked. Maybe they could create some kind of untaxed minimum based on some index. And possibly even brackets.

    But of course there’s a reason they like it this way.

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  • [–] 14 points 3 weeks ago* (last edited 3 weeks ago)

    Stocks are not a necessary piece of compensation for anyone. Besides, if you can borrow money from a bank using stocks as collateral then it is effectively a liquid asset that you absolutely should pay tax on. The simplest solution to that problem is to disallow stocks from being used as collateral.

    Every loophole can be closed if we decide we want to. The ones that are still open were intentionally left open to benefit the rich.

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