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No errorNot a transfer of wealth when I buy a new car. But I pay taxes on itWhat I like about the plan to tax stock transactions
The wealthy learned long ago how to shield income from taxation knowing that their wealth was untouchable
Under this plan, every transaction of transferring their wealth would be taxed
A sales tax on the real estate and stock market
Under this plan, every transaction of transferring their wealth would be taxed
If I buy 100 shares of Tesla in my IRA, how am I transferring my wealth?
Those shares are a product that is bought and sold
And it's not a transfer of wealth when I buy them.
I'm glad I could help you realize and admit your error.
Treat buying stock in a company like buying and selling anything else