It is easy for them to have 0 income, and we should fix that. The means by which they can access ‘value’ of their wealth to pay for stuff without actually incurring a taxable event need to get closed. Primarily this seems to be about borrowing against wealth, which should be a taxable event, with an option to eventually get credit for loan repayment to assuage the ‘but but double taxation!’ crowd.
It is easy for them to have 0 income, and we should fix that. The means by which they can access ‘value’ of their wealth to pay for stuff without actually incurring a taxable event need to get closed. Primarily this seems to be about borrowing against wealth, which should be a taxable event, with an option to eventually get credit for loan repayment to assuage the ‘but but double taxation!’ crowd.