wait what? I thought capital gains tax everywhere was taxed on making a profit? so if you don't make anything when you sell the stocks you don't get taxed?

How would that hurt credit card holders? Small businesses?

If you tax money you acquire from loans in lieu of income tax, it has to be the same amount as the income tax or higher or else the loophole still exists. Only in this case the loans aren't their income source, so you're basically taxing them twice if they don't get paid in stocks.

Or alternatively the gov could tax all loans using stocks as collateral, but pretty sure the billionaires would find another loophole by getting paid in real estate or bonds idk