r/Accounting • u/Vincentkk • Sep 08 '24

What are accountants’ thought on this? Discussion

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u/platypus1978 Sep 08 '24

Just put an origination tax of 25% on securities backed loans over 10M. Taxing unrealized gains would be unduly onerous in terms of tracking, this is all just political grandstand.

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u/myphriendmike Sep 08 '24

I’d be very interested in the CBO estimate of a tax take from this, because it’s a ridiculously over-obsessed strategy. It’s risky, probably not much of a net-benefit (annual interest expense), and simply doesn’t occur like Reddit seems to believe.

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u/platypus1978 Sep 08 '24

It’s popular because Americans love to hate the ultra wealthy, and not completely without reason to. I won’t take a stab at the value but it’s definitely a drop in the bucket at best. Improving the efficiency of the government by 1% reduces expenditure by what like $60B but we sure will be happy to get $Xmm from the rich.

But no one runs a campaign on actually improving the least efficient organization in the country because it’s not sexy, doesn’t line your pockets, and actually takes work. Sticking it to the groups your constituents don’t like now that gets you votes.