LogFAQs > #947774257

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Topic	YR: Biden announces a 100% net worth tax on net worth over $133 billion
Theon_Greyjoy 11/30/20 4:37:59 PM #23:	Tyranthraxus posted... Correct but what if I only had $50 billion debt. I have $150 billion net worth now. That means I have to pay $17 billion in tax according to you so what % of that is taxes on my debt? I would say you don't pay any taxes on your debt, in the same way that you don't pay income taxes on deductions. --- EndOfDiscOne <cite>Theon_Greyjoy posted [p:947774257] in YR: Biden ... [t:79144736]...</cite> <quote>Tyranthraxus posted... </cite> <quote>Correct but what if I only had $50 billion debt. I have $150 billion net worth now. That means I have to pay $17 billion in tax according to you so what % of that is taxes on my debt?</quote>I would say you don't pay any taxes on your debt, in the same way that you don't pay income taxes on deductions. --- EndOfDiscOne</quote> ... Copied to Clipboard!
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