3 policies in Biden's 2023 budget proposal that will restrict corporate power and benefit workers (by paulconstant)
profits of the top .01% — including on profits earned through unrealized appreciation, which is how many of the uber-rich build their wealth.
Centi-millionaires and billionaires don't get biweekly paychecks the way most Americans do. Their wealth is in unrealized assets, which are stocks or other commodities that haven't yet been sold for cash, and instead of selling those assets, they borrow against the unrealized gains — profits that haven't yet been cashed out by selling the underlying asset — at low interest rates whenever they need cash, which allows their income to grow even while they're spending it.
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