Tax on unrealized capital gains
- Thread starter Cali4x4
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azhunteraz
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āHarris plans to tax capital gainsā¦ā. Ummmā¦. WTF does that statement even mean? You DO realize that capital gains are already taxed, right??Harris plans to tax capital gains
Also, regarding the supposed proposed 44.6% rate, did you do any research on that topic? Or did you just gobble up the click-bait?
LivingTheDream
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I think he meant unrealized capital gains, which would be impossible and is probably unconstitutional.
However, the increase of the long term capital gains is concerning.
However, the increase of the long term capital gains is concerning.
Cali4x4
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Everything is concerning when it comes to the Harris social engineering plan.
azhunteraz
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Youāre giving Cali WAY too much credit if you think he knows anything more about that link he posted. I doubt he even knows what āunrealizedā gains are. (BTW, the 44.6% figure has nothing to do with realized vs. unrealizedā¦. )
Gonna answer my question about the 44.6% figure, or just keep hijacking/spamming your own thread with more drivel???
BuzzH
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Yes, I'm voting trump for my own personal gain.But your voting TRUMP
The word you're looking for is you're.
azhunteraz
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Answering my question on the cap gains?But your voting TRUMP
Cali4x4
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Grab her by the Buzzy
Cali4x4
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Kalifornia Kamala
Sticking with Bidenomics
Sticking with Bidenomics
Federal Tax capital gains tax would go up 44.6%. This is the highest rate since itās creation in 1922.
Including State taxes the total is up to 50%.
Gains are not indexed for inflation.
Inflation is FJBās biggest tax.
Just the facts Jack
https://www.atr.org/biden-calls-for...capital-gains-tax-since-its-creation-in-1922/
azhunteraz
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Again Iāll askā¦. Did you read the article??? Read it closely and tell me what key fact the headline leaves out? (Partial news and headlines is equal to FAKE news!!!). Iām going to go out on a limb and take a wild _ss guess that it will not affect you, nor 99,9% of the other ding-dongs on this site!!
BTW, nice job changing the title of this thread in a weak attempt to save face. But this has zero to do with unrealized gains! Dummy!!
Cali4x4
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I owe you no synopsis of the article. That is why it is east pasted to my message.
Read it for yourself.
Another article is pasted below if you care to learn more.
Yes many on this site will pay capital gains taxes. Most if not all of us will not know how to avoid paying them.
The capital gains tax falls overwhelmingly on the middle classāspecifically, on savers and entrepreneurs, the most thrifty and industrious members of the middle class.
I donāt pretend to be an English major. Independently wealthy or apart of the 1%ers.
I do know if it walks like a duck -and talks like a duck itās a duck.
Kamala is not an economist. She talks the talk of a dingbat.
In this present crisis, government is not the solution to our problem; government is the problem. From time to time we've been tempted to believe that society has become too complex to be managed by self-rule, that government by an elite group is superior to government for, by, and of the people.
Ronald Regan
manhattan.institute
Read it for yourself.
Another article is pasted below if you care to learn more.
Yes many on this site will pay capital gains taxes. Most if not all of us will not know how to avoid paying them.
The capital gains tax falls overwhelmingly on the middle classāspecifically, on savers and entrepreneurs, the most thrifty and industrious members of the middle class.
I donāt pretend to be an English major. Independently wealthy or apart of the 1%ers.
I do know if it walks like a duck -and talks like a duck itās a duck.
Kamala is not an economist. She talks the talk of a dingbat.
In this present crisis, government is not the solution to our problem; government is the problem. From time to time we've been tempted to believe that society has become too complex to be managed by self-rule, that government by an elite group is superior to government for, by, and of the people.
Ronald Regan
Capital Gains: A Tax on the Middle Class
Those who oppose reducing the capital gains tax argue that it would be a ātax cut for the rich.ā However, the capital gains tax falls more on the middle-class.
manhattan.institute
azhunteraz
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Iām gonna go out on a limb and bet that you were not the captain of your debate team. My god youāre dense.I owe you no synopsis of the article. That is why it is east pasted to my message.
Read it for yourself.
Another article is pasted below if you care to learn more.
Yes many on this site will pay capital gains taxes. Most if not all of us will not know how to avoid paying them.
The capital gains tax falls overwhelmingly on the middle classāspecifically, on savers and entrepreneurs, the most thrifty and industrious members of the middle class.
I donāt pretend to be an English major. Independently wealthy or apart of the 1%ers.
I do know if it walks like a duck -and talks like a duck itās a duck.
Kamala is not an economist. She talks the talk of a dingbat.
In this present crisis, government is not the solution to our problem; government is the problem. From time to time we've been tempted to believe that society has become too complex to be managed by self-rule, that government by an elite group is superior to government for, by, and of the people.
Ronald Regan
Capital Gains: A Tax on the Middle Class
Those who oppose reducing the capital gains tax argue that it would be a ātax cut for the rich.ā However, the capital gains tax falls more on the middle-class.
You start your thread talking about Kamala taxing capital gains, then you post an article from 1995? Proving the capital gains taxes have been around through many previous presidentsā¦..
Ya, no shite youāre not an English major, or any other major for that matter!
BTW, since youāre not a 1-percenter, then you donāt have to worry about the tax anyway, dummy! The 46% made up of the standard capital gains PLUS earned income that we all pay when we buy and sell securities for a profit (just like under Trump). If you make >$1MM per year total, the effective standard income tax rate you would pay on income OVER $1MM plus the standard cap gains tax would equal just over 46%. Do you get it now??? IT ONLY AFFECTS THE VERY RICH!
Still shaking my head that you dug up that article from 30 years agoā¦.
hossblur
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Iām gonna go out on a limb and bet that you were not the captain of your debate team. My god youāre dense.
You start your thread talking about Kamala taxing capital gains, then you post an article from 1995? Proving the capital gains taxes have been around through many previous presidentsā¦..
Ya, no shite youāre not an English major, or any other major for that matter!
BTW, since youāre not a 1-percenter, then you donāt have to worry about the tax anyway, dummy! The 46% made up of the standard capital gains PLUS earned income that we all pay when we buy and sell securities for a profit (just like under Trump). If you make >$1MM per year total, the effective standard income tax rate you would pay on income OVER $1MM plus the standard cap gains tax would equal just over 46%. Do you get it now??? IT ONLY AFFECTS THE VERY RICH!
Still shaking my head that you dug up that article from 30 years agoā¦.
I'm not 1% either, but this is just the usual drivel, clown show crap as always.
"Tax the rich". The real rich pay lobbyists for tax code exceptions. Meaning
1. There will be no actual transfer of money.
2. The tax will be extended lower to the groups who cannot afford lobbyists and lawyers.
And Cali is right. Kamala wouldn't know economics unless she was under an economists desk.
Cali4x4
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OK back to the basicsIām gonna go out on a limb and bet that you were not the captain of your debate team. My god youāre dense.
You start your thread talking about Kamala taxing capital gains, then you post an article from 1995? Proving the capital gains taxes have been around through many previous presidentsā¦..
Ya, no shite youāre not an English major, or any other major for that matter!
BTW, since youāre not a 1-percenter, then you donāt have to worry about the tax anyway, dummy! The 46% made up of the standard capital gains PLUS earned income that we all pay when we buy and sell securities for a profit (just like under Trump). If you make >$1MM per year total, the effective standard income tax rate you would pay on income OVER $1MM plus the standard cap gains tax would equal just over 46%. Do you get it now??? IT ONLY AFFECTS THE VERY RICH!
Still shaking my head that you dug up that article from 30 years agoā¦.
When taxes are cut, which includes Capitol Gains tax, it advances production, keeps people employed, and increases 401Kās. Profits are recycled back into the market from the top down. Ever own a business?
azhunteraz
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Ever own a business?
Ummmā¦.. My wife and I own/run a furniture distribution and shipping business with 75 trucks across 12 western states (currently 250+ employeesā¦). So yes, I have owned a business.
Have YOU ever owned a business? 
Biden Capital Gains Proposal Of 44.6% Comes With Caveats And Asterisks
The number being bandied about is 44.6%, which would be the highest formal federal capital gains rate since its inception.
www.forbes.com
Cali4x4
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Well thatās great. You can afford to be a liberal democrat.
Being in the furniture business you probably sell a lot of goods to people moving to Arizona I assume.
Hard working middle class folks running from high tax states such as Kalifornia.
The US becoming a high tax nation forces companies overseas.
Taxes are bad. Overspending is even worse.
Itās the economy stupid.
Being in the furniture business you probably sell a lot of goods to people moving to Arizona I assume.
Hard working middle class folks running from high tax states such as Kalifornia.
The US becoming a high tax nation forces companies overseas.
Taxes are bad. Overspending is even worse.
Itās the economy stupid.
BuzzH
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Let me know how the bake sale goes to pay for, streets, highways, military, first responders, clean water, etc etc etc.
Here's a news flash, it costs money to run a city, county, state, and nation.
Like I said, let me know how much money you make off a dozen cookies or the apple pie your old lady bakes.
Unbelievable.
BuzzH
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Yeah, the global economy, stability, etc. are another things you know jack chit about.Yes it takes money to run a country or even a small business.
The problem is Washington want to run the world. You will need to sell a lot more cookies at your Democrat bake sale.
Let me know how that goes cupcake
Throw another dozen cookies in the oven.
Cali4x4
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If youāre so smart. Why are you on this message board?
Stupid is as stupid does.
Itās the economy stupid.
BuzzH
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Sure, and anyone with a single firing brain cell is up 17% YTD...
If you're too stupid to be cashing in on that, you deserve to be broke.
azhunteraz
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I am definitely NOT a 'liberal democrat'. Been a registered Independent for almost 30 years now. I'm simple a fan of facts and context when I'm making a decision. Sound bites and headlines taken out of context are for simpletons that have a hard time with taking-in lots of info & data and applying critical thinking skills to sort it all out for a decision/position.
BTW, I didn't say that we 'sell' furniture. I said we distribute and ship it. Yes, we do business in AZ and many other states. So what? Also, WTF does people running from Cali due to high taxes have to do with anything at the federal level?? If you want to debate state taxes, then let's do it. (Again, an idiot hijacking his own thread.... Classic.)
"It's the economy stupid." Here's a hint, when you are going to use someone else's words, you should quote put quotes around it. Also, punctuation matters.... Just saying.
BuzzH
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Go look in the mirror for your answer.One question Buzzy
What is a woman ?
Cali4x4
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Ok puzzy
Cali4x4
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Harrisās economic proposal would also raise the capital gains and dividends tax more than twice as high as Chinaās, or 44.6 percent. China has a capital gains tax of 20 percent.
www.breitbart.com
Report: Kamala Harris Wants to Boost Taxes by $5 Trillion
Vice President Kamala Harris's economic plan would increase taxes by $5 trillion over ten years, according to Americans for Tax Reform (ATR).
www.breitbart.com
azhunteraz
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So you're saying it's bad to be different than China??? You freaking commie!!Harrisās economic proposal would also raise the capital gains and dividends tax more than twice as high as Chinaās, or 44.6 percent. China has a capital gains tax of 20 percent.
Report: Kamala Harris Wants to Boost Taxes by $5 Trillion
Vice President Kamala Harris's economic plan would increase taxes by $5 trillion over ten years, according to Americans for Tax Reform (ATR).
Again, did you read the whole article?? Did you understand it? Particularly the part about taxes NOT going-up for those who earn less than $400K per year?? (Though that will definitely impact some of us, the vast majority will NOT see an impact....)
Just for the rich always expands & applies to more & more people. Via ratifying the 16th Amendment, the 1913 income tax was originally for the top 1% of earners. Over time the government applied it to more and more people growing the tax base.
Our founders fought a revolution in large part to being taxed without representation. Tea Party
I can't imagine capital & at least some, if not a great many businesses that meet that threshold moving to friendlier pastures. Also wouldn't this require many to sell assets just to pay for the unrealized gains?
They just want to stick it to the rich. Is that why they passed a bill to hire 87,000 new IRS agents while at the same time attempting to tax any PayPal, Venmo, Zelle transaction over $600?
Bess sells a tool box, scope, binoculars, a firearm, a waterbed, his prized Hush Flatty, a set of wheels in the MM classifieds, or anything over $600 that he already paid tax on... they want their cut.
The problem is spending, there is no wealth anywhere they don't want to transfer to their friends.
Dumb idea that will only hurt the economy & lead to higher inflation & higher prices.
Our founders fought a revolution in large part to being taxed without representation. Tea Party
I can't imagine capital & at least some, if not a great many businesses that meet that threshold moving to friendlier pastures. Also wouldn't this require many to sell assets just to pay for the unrealized gains?
They just want to stick it to the rich. Is that why they passed a bill to hire 87,000 new IRS agents while at the same time attempting to tax any PayPal, Venmo, Zelle transaction over $600?
Bess sells a tool box, scope, binoculars, a firearm, a waterbed, his prized Hush Flatty, a set of wheels in the MM classifieds, or anything over $600 that he already paid tax on... they want their cut.
The problem is spending, there is no wealth anywhere they don't want to transfer to their friends.
Dumb idea that will only hurt the economy & lead to higher inflation & higher prices.
notdonhunting
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wetmule, has nailed it on the head, it is easy to say I am only going to tax the rich, and just like azhunter most only look at income tax.
azhunteraz
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As usual, wetmule posted wise words.
As for only looking at income tax, youāre right! Most do, just like Cali was so focused on it originally.
You are incorrect that i personally am focused only on income tax. We run a $250MM+ shipping/freight company (Wellā¦. Mainly my wife runs itā¦ LOL), so believe me when I say I am absolutely NOT only focused on personalIncome taxes. My intent for jumping into this thread was just to point out that as usual, Cali went with a sound bite about capitol gains taxes that he obviously has very little understanding of.
Go GOP!!
eelgrass
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BuzzH is the only one here who would be hurt in the short term, but it does set a dangerous precedent.
The budget plan does indeed call for taxation of unrealized capital gains held by the countryās uber-rich. Thatās part of its proposal for a 25% minimum tax on the annual income of taxpayers with wealth of more than $100 million ā a wealth tax. If youāre a member of that cohort, lucky you. But at that level of affluence you donāt have grounds to complain about paying a minimum 25% of your annual income.
www.latimes.com
The budget plan does indeed call for taxation of unrealized capital gains held by the countryās uber-rich. Thatās part of its proposal for a 25% minimum tax on the annual income of taxpayers with wealth of more than $100 million ā a wealth tax. If youāre a member of that cohort, lucky you. But at that level of affluence you donāt have grounds to complain about paying a minimum 25% of your annual income.
Column: No, folks, Harris isn't planning to tax your unrealized capital gains ā but a wealth tax is still a good idea
Conservatives fabricated a claim that Harris would tax everyone's unrealized capital gains, but she would do so for those with more than $100 million in wealth. Is that bad?
www.latimes.com
Snoopdogg
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Ron DeSantis Torches Kamala's Capital Gains Tax Scheme: 'Massive Increase in Government Power!'
Ron DeSantis spoke this morning in a press conference to adress concerns about Kamala Harris' plan to tax unrealized gains, and he didn't hold ANYTHING back.
redstate.com
eelgrass
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Hummm, good question.
Blindnonresident
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By all means you should!!!
Bluehair
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You make your own estimate. Didnāt you pay attention to trumps NY case?. And yes, you deduct capital losses.
Do you guys really think the ārichā have a higher effective tax rate than you? Open your eyes.
Tax the uber rich to the hilt and leave the middle class alone.
hossblur
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That's great.
I bought this house when I was 20.
I'll get taxed on the gains for 40-50 years, and then hope it's a down year when it sells? Seems great.
The Uber rich don't pay taxes because there are politicians.
Want to tax the rich, term limits.
Bluehair
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Please donāt be another whiney azz rich dude.
hossblur
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No need to say please, I got that covered
Cali4x4
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Kamalaās plan would kill the stock market
www.breitbart.com
Cuban: Kamala's Capital Gains Tax Plan Would 'Kill the Stock Market'
Billionaire investor Mark Cuban warned Thursday on CNBC's "Squawk Box" that Vice President Kamala Harris' capital gains tax plan would "kill the stock market." | Clips
www.breitbart.com
Yet he approves of her planKamalaās plan would kill the stock market
Cuban: Kamala's Capital Gains Tax Plan Would 'Kill the Stock Market'
Billionaire investor Mark Cuban warned Thursday on CNBC's "Squawk Box" that Vice President Kamala Harris' capital gains tax plan would "kill the stock market." | Clips
Flyjunky12
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Isnāt that a typical dem though? They donāt approve, know itās the wrong approach, and destructive, but vote for the person in charge of it anyway? I just thought that was their standard playbook. Kind of like 75%+ of people say their life was better under Trump yetā¦..
Fking tards
