This speech never gets old.

When people use their stock holdings to borrow money, we should tax them on that like it was income.

If you're not completely fucking retarded it makes perfect sense actually.

All the accounts defending the billionaires 😂😅🤣 Trying to convince us they are not Melon bots and trolls that spin into action every time the word “billionaire” is seen or heard.

What’s interesting on this is you can do the same with taking out a loan on your home, but YOU STILL PAY PROPERTY TAXES

Record tax bill, no one has ever paid this much

No different than getting a second mortgage on your home. You're not federally taxed on the home, but it can be used as collateral. Trevor is a comedian, and that monologue only lands with idiots.

stop glorifying taxes; we are overtaxed and our money is often used for crap

Does he not understand the simple idea that you don’t pay taxes on a loan

So everyone should be taxed on the appreciation of their homes too? Even though they haven't sold home yet? How about stop with the rich envy and worry about why DC needs to waste $7+ Trillion every fucking year. We have a spending problem not a tax problem

Fucking economically illiterate retard

Well he sold so much Tesla stock that he plays $11B in taxes, making him the man who paid now taxes than any individual in history..

If this speech doesn’t get old for you… You’re a fucking retard. Think about the value of your home… It goes up every year… Maybe it’s now worth twice what you paid for it. Do you think you should be giving the government twice the tax or do you think you should have to pay that tax after you sell your home? Think about it you fucking retard .

Its collateral. Anyone can borrow money tax free. If Musk had defaulted on the loan he would have liquidated his shares then paid tax. If you took out a mortgage for 500k to buy a house, you wouldnt owe income tax on 500k would you?

That’s called collateral. Like borrowing on your mortgage. The govt doesn’t call the value of your home “income” because you haven’t sold it. Do we need basic finance education in the us?

Ok, so now when the middle class borrows $50k to buy a car, we can count that is income and tax them on extra $50k income tax plus sales tax. So in NYC that would be about $30k you’d have to pay to buy a car with a loan and then pay back $85k over the life of the loan, so a $50k car now costs that middle class person $115k. Or if someone borrows against their equity in their home to remodel, or get a new roof, or put their kid in college, $100k, that’s now income too. Plus they still owe money on the loan. Fkn Brilliant.

@DeborahMeaden You do know that you can pay extra tax if you want to, Deborah?

If you get a TV show and use it to promote the taxing of rich people, you're a special kind of stupid. It's like cutting your own dick off

They tax my home on the government’s estimate of its value, not its purchase price. So, yep, if average folks can have it done, so can the incredibly rich.

And you're giving them more money

You can take out a loan based on the equity in your home or some other asset and use that loan to buy something. A lot of people do this to upgrade their homes. Otherwise you’d have to sell your home to upgrade your home or purchase something based on the collateral.

People are fucking stupid when it comes to finances. He used his stock as collateral to borrow money, because the stock has value. Just like your house or car. Taxes have already been collected on the money that was used by the thing of value. Capital gains kick in on the sale.

Yes. Just like you can put your house, car, boat, or business up as collateral. Should you default your property will be taken and sold, but it isn't sold beforehand to put up dollar for dollar against your loan. That's how loans work.

True, IMO you shouldn't be able to take out loans with unrealized gains (e.g. stocks) as collateral.

If they taxed unrealized gains than everyone’s grandparents would be thrown out their house that grew in value, because every year they need to pay taxes on that.

Musk wasn't able to leverage his buyout of Twitter, and had to sell a significant number of shares, and he had to pay taxes on those shares. He ended up paying the largest tax bill in history because if it. Trevor Noah is either lying, or incompetent, to be claiming otherwise.

Except it’s all lies, he paid $14 billions in taxes on the Twitter purchase

EXCELLENT and TRUE. The system is rigged. I say if the share value is used in this manner it should be taxed.

These comments are ridiculous. Everyone so willing to pay taxes and make other people that are successful pay more taxes when none of us should be paying taxes. All they do is send the money to Israel or Ukraine

Exactly. Strange world. Or simply normal capitalism.