Biden considers raising capital gains tax to nearly 44%

While I agree with raising Capital Gains taxes it shouldn't be higher than regular income taxes. It should all simply be the same. Income is income and all should be taxed the same.

But the money invested has already been taxed. This is a disincentive to invest in US.

The most ignorant reply to this issue ever.

Your capital gains have never been taxed.

Before you start hurling insults, you had better check yourself in the mirror. Tell me how the cash I invested last week in a security was not already taxed?

You don't pay taxes on the money you invest. You pay taxes on the money made off that money. Does this have to be explained every time this comes up?

If I am a pawn shop and I buy lets say a coin collection for $10.000 and sell it for $15.000 I have to pay taxes on that $15,000. Can I claim I shouldn't have to because I already paid taxes on the $10,000?

If you use money you earned to buy securities, it was already taxed. You are now risking (cost) that money for a personal return. Taxing on top of earned money that is being risked is punitive and will have negative outcomes that far outweigh any benefits. It’s that simple.

You can argue irrelevant arguments all day. The money you make has not been taxed. It's income and income should be taxed as income. Period.
 
While I agree with raising Capital Gains taxes it shouldn't be higher than regular income taxes. It should all simply be the same. Income is income and all should be taxed the same.

But the money invested has already been taxed. This is a disincentive to invest in US.

The most ignorant reply to this issue ever.

Your capital gains have never been taxed.

Before you start hurling insults, you had better check yourself in the mirror. Tell me how the cash I invested last week in a security was not already taxed?

You don't pay taxes on the money you invest. You pay taxes on the money made off that money. Does this have to be explained every time this comes up?

If I am a pawn shop and I buy lets say a coin collection for $10.000 and sell it for $15.000 I have to pay taxes on that $15,000. Can I claim I shouldn't have to because I already paid taxes on the $10,000?

If you use money you earned to buy securities, it was already taxed. You are now risking (cost) that money for a personal return. Taxing on top of earned money that is being risked is punitive and will have negative outcomes that far outweigh any benefits. It’s that simple.

You can argue irrelevant arguments all day. The money you make has not been taxed. It's income and income should be taxed as income. Period.

Have fun with that argument. Income is earned/made. 100 percent of my paycheck (gross pay) is earned income or income I make. Tell me how this is not taxed “but that it’s income and it should be taxed”???? Your words, not mine.
 
While I agree with raising Capital Gains taxes it shouldn't be higher than regular income taxes. It should all simply be the same. Income is income and all should be taxed the same.

But the money invested has already been taxed. This is a disincentive to invest in US.

The most ignorant reply to this issue ever.

Your capital gains have never been taxed.

Before you start hurling insults, you had better check yourself in the mirror. Tell me how the cash I invested last week in a security was not already taxed?

You don't pay taxes on the money you invest. You pay taxes on the money made off that money. Does this have to be explained every time this comes up?

If I am a pawn shop and I buy lets say a coin collection for $10.000 and sell it for $15.000 I have to pay taxes on that $15,000. Can I claim I shouldn't have to because I already paid taxes on the $10,000?

If you use money you earned to buy securities, it was already taxed. You are now risking (cost) that money for a personal return. Taxing on top of earned money that is being risked is punitive and will have negative outcomes that far outweigh any benefits. It’s that simple.

You can argue irrelevant arguments all day. The money you make has not been taxed. It's income and income should be taxed as income. Period.

Have fun with that argument. Income is earned/made. 100 percent of my paycheck (gross pay) is earned income or income I make. Tell me how this is not taxed “but that it’s income and it should be taxed”???? Your words, not mine.

I never argued what you argued. I don't have to explain your made up positions. I never argued your wages were not taxed. I argued ALL should be taxed the same no matter where it comes from.
 
Personal tax rate changes have never been shown to hurt growth

First of all, we're talking about the capital gains tax, NOT the personal income tax rate. Basically, as I'm sure you know, the capital gains tax is a tax on investments. It is axiomatic that the more you tax something, the less you get of it. Capital gains tax hikes reduce the incentive for entrepreneurship by lowering the rewards available to successful entrepreneurs, and make it harder for would-be entrepreneurs to start businesses and make existing businesses grow by making it harder to raise money. Any increase to capital gains taxes will hurt investment and entrepreneurship, which are both badly needed in our economic recovery given their connection to job creation and economic growth. Again, simply put, higher capital gains taxes reduce the incentive for investment and entrepreneurship. And THAT means less economic growth.

Sounds good in theory, but in reality it is little more than a higher tax on people who pump and dump stocks for a living.
Like SASSY lol
 
While I agree with raising Capital Gains taxes it shouldn't be higher than regular income taxes. It should all simply be the same. Income is income and all should be taxed the same.

But the money invested has already been taxed. This is a disincentive to invest in US.

You only are taxed on the gain from your investment, But you can deduct a capital loss too you know......

True. But the money used to invest in capital markets has already been taxed. When I invest in capital markets, am I the only one who benefits - be it a capital appreciation or a capital loss deduction? Don’t pensions, 401ks, and other individual investors benefit? If the tax ramifications (costs) be gain erode the gains (benefits), what is the outcome going to be for capital markets?

The 401K plans are taxed when you withdraw the funds.
 
While I agree with raising Capital Gains taxes it shouldn't be higher than regular income taxes. It should all simply be the same. Income is income and all should be taxed the same.

But the money invested has already been taxed. This is a disincentive to invest in US.

You only are taxed on the gain from your investment, But you can deduct a capital loss too you know......

True. But the money used to invest in capital markets has already been taxed. When I invest in capital markets, am I the only one who benefits - be it a capital appreciation or a capital loss deduction? Don’t pensions, 401ks, and other individual investors benefit? If the tax ramifications (costs) be gain erode the gains (benefits), what is the outcome going to be for capital markets?

The 401K plans are taxed when you withdraw the funds.

And? 401k’s incentivize you to invest now by not taxing this portion of your income and pay taxes at the time of withdrawal. I’m okay and accepting of that. Will be interesting to see what Democrats Capital Gains increase would do to 401ks
 
President Joe Biden’s administration is weighing nearly doubling the capital gains tax on wealthy Americans to 43.4%, Bloomberg News reported Thursday.

The plan would raise the gains tax to 39.6% for Americans making more than $1 million a year, and that would add upon an existing 3.8% tax on that bracket that supports Obamacare, according to Bloomberg.

Biden has proposals to hike taxes on wealthy Americans in a number of his bills, including the American Jobs Plan, expected to be officially announced next week.



Guys - you just can't do that and expect to grow the economy. I don't know if the democrats could pass that through the reconciliation process, cuz there's Joe Manchin and other democrats that probably wouldn't support that, Thank God. But it tells you where the democratic party is coming from, and if they ever get to the point where senators like Joe Manchin aren't there to stop them, the Far Left will ruin this country IMHO. You just can't tax and spend your way to prosperity, it has never been done. Not to this extent anyway.
That is dementia joe the socialist. he wants to raise people's income by giving them free money. In my local area there are many business's wanting to hire workers and very few people applying.
 
While I agree with raising Capital Gains taxes it shouldn't be higher than regular income taxes. It should all simply be the same. Income is income and all should be taxed the same.

But the money invested has already been taxed. This is a disincentive to invest in US.

The most ignorant reply to this issue ever.

Your capital gains have never been taxed.

Before you start hurling insults, you had better check yourself in the mirror. Tell me how the cash I invested last week in a security was not already taxed?

You don't pay taxes on the money you invest. You pay taxes on the money made off that money. Does this have to be explained every time this comes up?

If I am a pawn shop and I buy lets say a coin collection for $10.000 and sell it for $15.000 I have to pay taxes on that $15,000. Can I claim I shouldn't have to because I already paid taxes on the $10,000?

If you use money you earned to buy securities, it was already taxed. You are now risking (cost) that money for a personal return. Taxing on top of earned money that is being risked is punitive and will have negative outcomes that far outweigh any benefits. It’s that simple.

Well you could drop your capital in a more secure investment like a CD, but you will still be liable for the taxes on the interest you earn.
 
President Joe Biden’s administration is weighing nearly doubling the capital gains tax on wealthy Americans to 43.4%, Bloomberg News reported Thursday.

The plan would raise the gains tax to 39.6% for Americans making more than $1 million a year, and that would add upon an existing 3.8% tax on that bracket that supports Obamacare, according to Bloomberg.

Biden has proposals to hike taxes on wealthy Americans in a number of his bills, including the American Jobs Plan, expected to be officially announced next week.



Guys - you just can't do that and expect to grow the economy. I don't know if the democrats could pass that through the reconciliation process, cuz there's Joe Manchin and other democrats that probably wouldn't support that, Thank God. But it tells you where the democratic party is coming from, and if they ever get to the point where senators like Joe Manchin aren't there to stop them, the Far Left will ruin this country IMHO. You just can't tax and spend your way to prosperity, it has never been done. Not to this extent anyway.
I really don't think that hike will get through Congress
 
President Joe Biden’s administration is weighing nearly doubling the capital gains tax on wealthy Americans to 43.4%, Bloomberg News reported Thursday.

The plan would raise the gains tax to 39.6% for Americans making more than $1 million a year, and that would add upon an existing 3.8% tax on that bracket that supports Obamacare, according to Bloomberg.

Biden has proposals to hike taxes on wealthy Americans in a number of his bills, including the American Jobs Plan, expected to be officially announced next week.



Guys - you just can't do that and expect to grow the economy. I don't know if the democrats could pass that through the reconciliation process, cuz there's Joe Manchin and other democrats that probably wouldn't support that, Thank God. But it tells you where the democratic party is coming from, and if they ever get to the point where senators like Joe Manchin aren't there to stop them, the Far Left will ruin this country IMHO. You just can't tax and spend your way to prosperity, it has never been done. Not to this extent anyway.
Why does your link NOT mention a capital gains tax increase?
 
While I agree with raising Capital Gains taxes it shouldn't be higher than regular income taxes. It should all simply be the same. Income is income and all should be taxed the same.

But the money invested has already been taxed. This is a disincentive to invest in US.

You only are taxed on the gain from your investment, But you can deduct a capital loss too you know......

True. But the money used to invest in capital markets has already been taxed. When I invest in capital markets, am I the only one who benefits - be it a capital appreciation or a capital loss deduction? Don’t pensions, 401ks, and other individual investors benefit? If the tax ramifications (costs) be gain erode the gains (benefits), what is the outcome going to be for capital markets?

The 401K plans are taxed when you withdraw the funds.

And? 401k’s incentivize you to invest now by not taxing this portion of your income and pay taxes at the time of withdrawal. I’m okay and accepting of that. Will be interesting to see what Democrats Capital Gains increase would do to 401ks

Right you defer income tax until you realize the money both on your pre tax investment and hopefully your gains.
 
Wait...so the actual proposal is to tax capital gains on incomes over $400,000 as ordinary income?

But the rich will STARVE!!!
 
But the money invested has already been taxed. This is a disincentive to invest in US.

Perhaps I am mistaken, it happens. But a CG tax is only on the ROI (Return On Investment), not the investment itself, or so I thought. Say you have $100,000 of savings that you already paid taxes on. If you invest that $100,000 and you make a $10,000 return on that investment, now you have $110,000, but you would only pay the CG tax on the $10,000 return cuz that is new income for you. Now - does the company also pay tax on the $10,000 that they paid you, or was that a deduction (cost) for them? They shouldn't have to pay tax on the $10,000 that they paid you, and if they did then that is double taxation.

Here's the thing that progressive liberals either underappreciate or don't care: when you raise the CG tax rate, then you have to pay more taxes on your return. IOW, you didn't make as much net money for risking your investment. There's always a risk to any investment, and so the investor has to look at the amount of risk incurred vs the expected ROI. And if the return isn't worth it to him/her/them, then they'll put their money somewhere else, be it gold, real estate, or another country. Money flows to where you get the best return AFTER taxes. And economic growth wasn't as robust as it could have been if they do that.
 
Long term capital gain should be taxed at the same rate labor income is taxed.

Why?

Because income is income.

That does not answer the question or justify as to why capital gains invested with labor income that has already been taxed should be taxed again at the same rate. The incentive to invest becomes severely diminished when the risk + capital gains taxed at same income tax rate.
 
President Joe Biden’s administration is weighing nearly doubling the capital gains tax on wealthy Americans to 43.4%, Bloomberg News reported Thursday.

The plan would raise the gains tax to 39.6% for Americans making more than $1 million a year, and that would add upon an existing 3.8% tax on that bracket that supports Obamacare, according to Bloomberg.

Biden has proposals to hike taxes on wealthy Americans in a number of his bills, including the American Jobs Plan, expected to be officially announced next week.



Guys - you just can't do that and expect to grow the economy. I don't know if the democrats could pass that through the reconciliation process, cuz there's Joe Manchin and other democrats that probably wouldn't support that, Thank God. But it tells you where the democratic party is coming from, and if they ever get to the point where senators like Joe Manchin aren't there to stop them, the Far Left will ruin this country IMHO. You just can't tax and spend your way to prosperity, it has never been done. Not to this extent anyway.

If the goal is to have people move their wealth out of the country, this will work great!
 
So predictable.
While we dont make a million a year I'd like to see what he does to those who dont and have stock options as a large part of their retirement plan.
HereWeGo, the demofks still don't understand how money moves. totally oblivious.
 
Long term capital gain should be taxed at the same rate labor income is taxed.
what are you saying? what's long term capital gains? capital gains isn't realized until sold. It could be any value at the time of sale, could even be a loss? you're ignorant on the subject I suppose.

BTW, my investment money in the stock market provides companies the power to produce, and when they make money and sell their portfolios, they pay capital gains, and it has my money in it at that time, my money increased the value of theirs. So again, you haven't a clue.
 
President Joe Biden’s administration is weighing nearly doubling the capital gains tax on wealthy Americans to 43.4%, Bloomberg News reported Thursday.

The plan would raise the gains tax to 39.6% for Americans making more than $1 million a year, and that would add upon an existing 3.8% tax on that bracket that supports Obamacare, according to Bloomberg.

Biden has proposals to hike taxes on wealthy Americans in a number of his bills, including the American Jobs Plan, expected to be officially announced next week.



Guys - you just can't do that and expect to grow the economy. I don't know if the democrats could pass that through the reconciliation process, cuz there's Joe Manchin and other democrats that probably wouldn't support that, Thank God. But it tells you where the democratic party is coming from, and if they ever get to the point where senators like Joe Manchin aren't there to stop them, the Far Left will ruin this country IMHO. You just can't tax and spend your way to prosperity, it has never been done. Not to this extent anyway.


If you want to stop our most innovative and productive members of society to stand down, there is no better way to do it but to subject them to Financial Assrapery.
 

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