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Started By
Message
re: This unrealized capital gains thing
Posted on 8/21/24 at 9:07 pm to Notrub14
Posted on 8/21/24 at 9:07 pm to Notrub14
quote:
Notrub14
YOU DUMAZZ, Dem lackey, run the numbers on who has 100 mil and how much revenue it brings in. It's not enough. They will take my money and some of yours too. And like fully pay for Ivy League educations to boot.
1
Posted on 8/21/24 at 9:07 pm to Notrub14
quote:
but to be clear: you would only pay it if you are very wealthy. It only applies to households with net wealth in excess of $100,000,000.
“ you can keep your health plan”
Stop believing what these lifelong politicians tell you. They will say anything to pass something they know will go after the middle class which is their largest tax base.
If you believe they will only go after the top 1%, I have some ocean front property to sell you in Kansas.
Posted on 8/21/24 at 9:08 pm to Notrub14
quote:
I'm not in favor of the tax on unrealized capital gains, but to be clear: you would only pay it if you are very wealthy. It only applies to households with net wealth in excess of $100,000,000.
Bull
shite!
Posted on 8/21/24 at 9:10 pm to aTmTexas Dillo
Explanation of how this works and how it will screw you.
Let’s say you invest $25K in a stock and it goes up 4x during the current tax year, and is worth $100K at the end of the year.
Analyst are still bullish on the stock and you think it will go up much more so you HODL. Now you must pay capital gains taxes on your unrealized gains so you pay 15% or more on the $75K “gain”, $11.25K + to the feds this year.
Then something unexpected happens the following year and the stock dived back to its original value or lower. Your $75K “gain” is gone and you are even or maybe at a small loss now, let’s say you’re down $1,200 or so.
Except you have actually lost half of your initial investment and are really out $12.5K because you paid $11K on taxes last year for a phantom gain.
Let’s say you invest $25K in a stock and it goes up 4x during the current tax year, and is worth $100K at the end of the year.
Analyst are still bullish on the stock and you think it will go up much more so you HODL. Now you must pay capital gains taxes on your unrealized gains so you pay 15% or more on the $75K “gain”, $11.25K + to the feds this year.
Then something unexpected happens the following year and the stock dived back to its original value or lower. Your $75K “gain” is gone and you are even or maybe at a small loss now, let’s say you’re down $1,200 or so.
Except you have actually lost half of your initial investment and are really out $12.5K because you paid $11K on taxes last year for a phantom gain.
Posted on 8/21/24 at 9:10 pm to aTmTexas Dillo
quote:
YOU DUMAZZ, Dem lackey, run the numbers on who has 100 mil and how much revenue it brings in. It's not enough. They will take my money and some of yours too. And like fully pay for Ivy League educations to boot.
Well I paid for my own Ivy League education, but would have been nice had the government paid.
Biden and Kamala haven't proposed this for the purpose of raising revenue, but as class warfare. That's one of the reasons that I don't support it.
Posted on 8/21/24 at 9:12 pm to Notrub14
quote:
It only applies to households with net wealth in excess of $100,000,000.
If Kamala “wins” the election we will all be making $100,000,000.00 annually because of runaway inflation like Zimbabwe….same place with the $1Trillion bills.
Posted on 8/21/24 at 9:12 pm to Notrub14
quote:
Well I paid for my own Ivy League education, but would have been nice had the government paid.
This proves you want to be a free loading POS. Can't stand you elitists.
Posted on 8/21/24 at 9:13 pm to Notrub14
quote:
I'm not sure what you're saying. The Biden proposal, which Kamala says she supports, only taxes unrealized capital gains of people with net wealth in excess of $100,000,000. If you don't have net wealth in excess of $100,000,000, then you would pay $0.
Now think it through. Will those people keep their money where theoretical gains are taxed but theoretical losses or not? This is also known as heads - you lose, tails - you lose.
Or will they move that money somewhere safer?
When the HIGHLY predictable change in their investment strategy happens, what will happen to your 401k when such massive sums of money are suddenly taken out of the market?
Posted on 8/21/24 at 9:13 pm to aTmTexas Dillo
quote:What makes you think he's elite?
Can't stand you elitists
Posted on 8/21/24 at 9:14 pm to FredbullTN
quote:
Many voters believe that men can get pregnant, clot shots prevent covid, and there are more than two sexes.
I truly think that number is significantly smaller than the left wing media portrays it to be
Posted on 8/21/24 at 9:14 pm to Notrub14
quote:
It only applies to households with net wealth in excess of $100,000,000.
horseshite. Everytime they throw something out like this, it gets rewritten to hit the middle class and provide enough "loopholes" for the donor class to pay to skate.
Posted on 8/21/24 at 9:16 pm to Auburn1968
quote:
That a lot like what they said about income tax back when it started.
100% truth!!! The rich will not invest and will off shore.
Once they get it in and started they can certainly change the requirements.
This post was edited on 8/21/24 at 9:18 pm
Posted on 8/21/24 at 9:16 pm to aTmTexas Dillo
quote:
If you need to tame a 38 trillion dollar debt, you go where you can get the money
Y’all don’t vote for me. I would run the debt through the roof, stack the shite out of the military, default, conquer Saudi Arabia and go to a gold backed currency.
Posted on 8/21/24 at 9:17 pm to Notrub14
quote:
Biden and Kamala haven't proposed this for the purpose of raising revenue, but as class warfare. That's one of the reasons that I don't support it.
Are there enough of the low class to tighten the noose on the high class? This is not a 100,000,000 thing. We are in trouble with the national debt, entitlements, etc. They will never cut spending. They will come for the eternal source and that is personal wealth.
Do you do a job that betters society or just enriches you?
Posted on 8/21/24 at 9:18 pm to aTmTexas Dillo
quote:
Listening to RDS explanation about this. So my house has appreciated perhaps six to seven hundred thousand dollars since I built it 14 years ago (it's lake front). RDS says that I will have to write a check to the government for 25% of that gain.
Are you worth more than $100,000,000.00?
If not, then RDS isn't talking about you.
Posted on 8/21/24 at 9:20 pm to NineLineBind
This would/could be the most radical policy that we have ever seen as far as taxes and income.
This would be devastating.
This would be devastating.
Posted on 8/21/24 at 9:21 pm to Notrub14
quote:
I'm not in favor of the tax on unrealized capital gains, but to be clear: you would only pay it if you are very wealthy. It only applies to households with net wealth in excess of $100,000,000.
They’ll start at 100 mil like it’s no big deal but that’s just the foot in the door
This is pure theft.
Posted on 8/21/24 at 9:21 pm to AU86
quote:
This would/could be the most radical policy that we have ever seen as far as taxes and income.
This would be devastating.
If this was actually implemented then it would crash the economy within a year and likely lead to civil unrest
Posted on 8/21/24 at 9:21 pm to aTmTexas Dillo
quote:
Are there enough of the low class to tighten the noose on the high class? This is not a 100,000,000 thing. We are in trouble with the national debt, entitlements, etc. They will never cut spending. They will come for the eternal source and that is personal wealth.
Do you do a job that betters society or just enriches you
hmmm I'm a lawyer in a large New York City law firm
Posted on 8/21/24 at 9:22 pm to Green Chili Tiger
quote:
Are you worth more than $100,000,000.00?
If not, then RDS isn't talking about you.
Imagine thinking they will tax their friends, themselves, and their donors who keep lining the politician’s pockets and not tax us servants.
I’m ready to sell you that ocean front view in Kansas, my friend.
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