Capital gains tax increase
- Thread starter catorano
- Start date
We use rebalancing of our assets periodically to maintain an good diversification mix of the funds. So there’s a lot of sell/buy during these rebalancing times. First, I‘d rather not pay ANY taxes but that’s not an option, right? So, If the new tax is applied upon my withdrawal, I could live with it. If it’s a per transaction type of tax, I’ll be pissed!
I use the withdrawal time point because that the first time a gain is fully realized. Anything happening before that is really a paper gain/loss.
I use the withdrawal time point because that the first time a gain is fully realized. Anything happening before that is really a paper gain/loss.
Thanks. I take a little issue with your point as increased capital gains is still more money out of my pocket and that money has already been taxed so the “we can’t pay zero taxes” point doesn’t do much for me. I’m well aware. The comparison is between more capitals gains taxes or less.
My big point is i didn’t want it linked to transactions. I had heard that the House leadership (re: Dems) were considering a tax based on each transaction. That I think would be very bad.
Get ready. Elections have consequences. Like 3-5 million illegal aliens coming to a neighborhood near you thanks to our shitty election process
Holy Cow!!! Each of our neighborhoods are gonna have 3-5 million aliens coming?!?!? That’s terrifying! Thanks for the heads up
How have the gains already been taxed?
I understand the money invested has been taxed. But if you put 100k into Apple and sell it at 200k, that extra 100k that is subject to capital gains taxes hasn’t been taxed before.
If you took your pocket money and started a side business that made a bunch of money, is that also tax free in your head?
No, but that's not the same thing. The business I invest in is also paying taxes and the value of the stock is related to profits which take taxes into consideration.
Not worthy of another thread, but related:
Obviously, the President’s commitment remains not raising taxes for anyone making less than $400,000 a year. There are some — and I’m not sure if this is the case in this report — who argue that, in the past, companies have passed on these costs to consumers. I’m not sure if that’s the argument being made in this report. We feel that that’s unfair and absurd, and the American people would not stand for that.
Obviously, the President’s commitment remains not raising taxes for anyone making less than $400,000 a year. There are some — and I’m not sure if this is the case in this report — who argue that, in the past, companies have passed on these costs to consumers. I’m not sure if that’s the argument being made in this report. We feel that that’s unfair and absurd, and the American people would not stand for that.
Yeah - you can’t tax unrealized gains because you’d have to also reduce tax liabilities for unrealized losses. That would allow for crazy gaming of the system for rich folks.
Then unrealized loss is a write off. I plan to lose millions this year.
Not smart people but their accountants. Look no further than Biden and his S-corps.
Rich or poor, you are not very bright if you do not take every opportunity in the tax code to minimize your tax obligation. There are no bad people or bad corporations that follow the code in this manner.
Agreed. Unless you are someone who takes advantage of our tax code on your own and talk shit about others who do the same for political purposes. Those are bad people in my opinion
Who gets to define the “exceptionally wealthy “ and how long will they be the only ones targeted. Commie bitch
I believe the threshold is a billion dollars net worth or 3 years of making over $100 million. It probably won’t pass because that changes the tax code significantly. As far as I know the IRS doesn’t really track personal net worth as much as income. Also how do you credit back billionaires when the market has a down year and the assets are worth less than prior year?
