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Wealth of the Top 1% in US Hits All-Time High of $45 Trillion
(www.commondreams.org)
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this post was submitted on 29 Mar 2024
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United States | News & Politics
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A lot of this will be in stocks though, not money in the bank. So how would that work? They have to sell 2-3% of their stocks every year to pay this tax?
They don't have to sell them. The SEC can just give them to the IRS. IRS liquidators take the shares and sell them slowly, comprising no more than 1% of total traded volume.