Debunking Liberal Myths About the Rich and the Capital Gains Tax

[Toddsterpatriot]

https://www.axios.com/2024/08/23/kamala-harris-unrealized-capital-gains-tax

It applies only to individuals with at least $100 million in wealth who do not pay at least a 25% tax rate on their income (inclusive of unrealized capital gains). Payments can be spread out over subsequent years.
Within that $100 million club, you'd only pay taxes on unrealized capital gains if at least 80% of your wealth is in tradeable assets (i.e., not shares of private startups or real estate). One caveat for this illiquid group is that there would be a deferred tax of up to 10% on unrealized capital gains upon exit.
In short, it would not apply to most startup founders or investors. If any group should be tweeting mad face emojis, it's top hedge fund managers.

It's a stupid idea. Like most of Kamala's ideas.

 

[Burgermeister]

There is some weird argument that the unrealized capital gains tax is ok because it only applies to certain income levels. Sort of an 'its ok to steal from rich people' thing.

It's a criminal idea regardless of income level.

 

[jbander]

That's a baby-brained argument. Before the Industrial Revolution capitalism never happened. I agree, there has never been a country with a communist economy for the simple reason that communism as defined by Marx and Engels, is a stateless society, without socioeconomic classes or the need for money. The USSR had a state, a currency and one might argue that there were indeed classes, although not exactly how they exist under capitalism. Wikipedia, which is a source everyone has access to, defines communism as:

"A communist society would entail the absence of private property and social classes,[1] and ultimately money[6] and the state (or nation state).[7][8][9]"

Communism - Wikipedia

en.wikipedia.org

No state, no classes, no need for money.

The only way for communism to exist and flourish is when the technology is available to provide consumers with what they need and want. The advanced automation, artificial intelligence, the computing power, has to be available, for there to be a marketless, non-profit, centrally planned, more democratic, system of mass production. Without the technology, it's simply unfeasible. Why do I and other socialists, call ourselves communists as well? It's because communism is the objective. We identify with the goal of socialism, which is communism.

The USSR was the:

UNION OF SOVIET SOCIALIST REPUBLICS. ​

Do you see the word "Communist" there anywhere? Nope.

Your claim that communism will never exist is stupid. Communism is inevitable, it will happen, within the next 60 years. Socialism will come before communism, and that's just a decade or two away.

You're ignorant about what is happening in the technological sphere, with respect to automation and artificial intelligence. Without human wage-labor there's no capitalism. Markets collapse without a human workforce, earning a wage. Do I have to explain why to you? I'll let you figure it out. Think. Go ahead, impress me. Tell me why, without human wage-labor there's no market. It's simple, think.

Don't agree but I did find your comment worth reading at least , in my opinion the only possible way that socialism or communism can take over this country is if we follow the rout of the right wing transferring the wealth of this country into the hands of the few. .Especially with this trickle down lie/stupidity. What makes capitalism the only way is the promise of the potential to get ahead, something that has been taken away by Reagan's trickle down lie. Since then all the wealth has gone to the people that the trickle down lie was designed for. the golden few. If socialism communism comes it will be because the right wing thinking they deserve it all. The worker will blindly except that for just so long. and as their part of the distribution of wealth gets smaller and smaller they will rebel.

 

[jbander]

There is some weird argument that the unrealized capital gains tax is ok because it only applies to certain income levels. Sort of an 'its ok to steal from rich people' thing.

It's a criminal idea regardless of income level.

Why? what unrealized capital gain tax. The problem with capital gains is it being allowed to be taxed at 15% when it is in fact nothing but income. It should be taxed as income.

 

[jbander]

Was already taxed when it was Gross Income.
That's what is considered "expenses and other costs" after overhead, etc. have been deducted.

What is needed is for parasitic leeches like yourself who exist living off of redistributed(stolen) wealth to get your lazy, slimy ass out working to create wealth/make money rather than live off of others'.

Ya when literally every welfare state in this country are red states. You hate Nazi's are all the same . lies, hate, bigotry women hating ,ugly.

 

[Burgermeister]

Why? what unrealized capital gain tax. The problem with capital gains is it being allowed to be taxed at 15% when it is in fact nothing but income. It should be taxed as income.

I guess complete ignorance now counts as an argument.

 

[Toddsterpatriot]

Don't agree but I did find your comment worth reading at least , in my opinion the only possible way that socialism or communism can take over this country is if we follow the rout of the right wing transferring the wealth of this country into the hands of the few. .Especially with this trickle down lie/stupidity. What makes capitalism the only way is the promise of the potential to get ahead, something that has been taken away by Reagan's trickle down lie. Since then all the wealth has gone to the people that the trickle down lie was designed for. the golden few. If socialism communism comes it will be because the right wing thinking they deserve it all. The worker will blindly except that for just so long. and as their part of the distribution of wealth gets smaller and smaller they will rebel.

is if we follow the rout of the right wing transferring the wealth of this country into the hands of the few.

Transferring how?

What makes capitalism the only way is the promise of the potential to get ahead, something that has been taken away by Reagan's trickle down lie.

Reagan's tax rate cuts took away your potential to get ahead? How?

 

[Cellblock2429]

Don't agree but I did find your comment worth reading at least , in my opinion the only possible way that socialism or communism can take over this country is if we follow the rout of the right wing transferring the wealth of this country into the hands of the few. .Especially with this trickle down lie/stupidity. What makes capitalism the only way is the promise of the potential to get ahead, something that has been taken away by Reagan's trickle down lie. Since then all the wealth has gone to the people that the trickle down lie was designed for. the golden few. If socialism communism comes it will be because the right wing thinking they deserve it all. The worker will blindly except that for just so long. and as their part of the distribution of wealth gets smaller and smaller they will rebel.

/——/ “Reagan's trickle down lie.”
Trickle down is when an evil rich guy buys a that, it creates work, income and taxes down the economy. All the people who build the ship, supply and transport the materials, sell and service the ship are gainfully employed.
Think of the trickle down effect when the US entered WWII, and the recession when the war ended. Same with Vietnam.

 

[hadit]

https://www.axios.com/2024/08/23/kamala-harris-unrealized-capital-gains-tax

It applies only to individuals with at least $100 million in wealth who do not pay at least a 25% tax rate on their income (inclusive of unrealized capital gains). Payments can be spread out over subsequent years.
Within that $100 million club, you'd only pay taxes on unrealized capital gains if at least 80% of your wealth is in tradeable assets (i.e., not shares of private startups or real estate). One caveat for this illiquid group is that there would be a deferred tax of up to 10% on unrealized capital gains upon exit.
In short, it would not apply to most startup founders or investors. If any group should be tweeting mad face emojis, it's top hedge fund managers.

And how many absolute dummies believe for one second that's the only group that will ultimately be affected by this? Any takers?

 

[Cellblock2429]

And how many absolute dummies believe for one second that's the only group that will ultimately be affected by this? Any takers?

/—-/ The same dummies who believe Obzocare would save them $1,400 a year and they could keep their doctor.

 

[Toddsterpatriot]

/—-/ The same dummies who believe Obzocare would save them $1,400 a year and they could keep their doctor.

Remember when Obama took over student loans and used the "profits" to
help pay for Obamacare? How much has that brilliant idea cost us?

 

[Cellblock2429]

Remember when Obama took over student loans and used the "profits" to
help pay for Obamacare? How much has that brilliant idea cost us?

/—-/ I remember when Obozo took over GM and screwed the bond holders.

 

[jbander]

I guess complete ignorance now counts as an argument.

Any way to tax these worms , these free ride scum, is OK with me , Tax the hell out of the ungodly wealthy the wealth was given to them by mommy and daddy. Didn't earn a dime of it. and the top billionaire paid zero in taxes .There free ride is over. They milk this country 100 times more then the middle class and pay no federal taxes at all. They have had this free ride for decades , so we will tax their asses totally for the same amount of decades . You know tit for tat. Sound fair doesn't it.

 

[jbander]

I guess complete ignorance now counts as an argument.

Ell fucko there is no such thing as a tax on unrealized cap gains , some talk about it . but there is better ways to tax these assholes that get the free ride. You know corporations and billionaires that pay no fed tax at all. find out who these scum bags are and bury their asses in taxes. Payday is over for the golden few , new big payday for the middle class and poor. Anything to make these free riders life a little harder and make the poor and middle class a little easier.

 

[jbander]

I guess complete ignorance now counts as an argument.

Yup these free riders have sucked this country dry, time for them to pay up. This is time for everyone other then the top few percentage of income earners.

 

[Cellblock2429]

Any way to tax these worms , these free ride scum, is OK with me , Tax the hell out of the ungodly wealthy the wealth was given to them by mommy and daddy. Didn't earn a dime of it. and the top billionaire paid zero in taxes .There free ride is over. They milk this country 100 times more than the middle class and pay no federal taxes at all. They have had this free ride for decades , so we will tax their asses totally for the same amount of decades . You know tit for tat. Sound fair doesn't it.

/—/ The class envy bulldog bit you in the ass and won’t let go.
Go out and try to make something of yourself.

 

[Toddsterpatriot]

Ell fucko there is no such thing as a tax on unrealized cap gains , some talk about it . but there is better ways to tax these assholes that get the free ride. You know corporations and billionaires that pay no fed tax at all. find out who these scum bags are and bury their asses in taxes. Payday is over for the golden few , new big payday for the middle class and poor. Anything to make these free riders life a little harder and make the poor and middle class a little easier.

You know corporations and billionaires that pay no fed tax at all.

That's horrible!!!
How much should the tax be on corporations and individuals with zero income?

 

[Cellblock2429]

Ell fucko there is no such thing as a tax on unrealized cap gains , some talk about it . but there is better ways to tax these assholes that get the free ride. You know corporations and billionaires that pay no fed tax at all. find out who these scum bags are and bury their asses in taxes. Payday is over for the golden few , new big payday for the middle class and poor. Anything to make these free riders life a little harder and make the poor and middle class a little easier.

/——/ I say triple corporate taxes so we can all pay more for stuff including the extra sales tax. What could possibly go wrong?

 

[hadit]

Any way to tax these worms , these free ride scum, is OK with me , Tax the hell out of the ungodly wealthy the wealth was given to them by mommy and daddy. Didn't earn a dime of it. and the top billionaire paid zero in taxes .There free ride is over. They milk this country 100 times more then the middle class and pay no federal taxes at all. They have had this free ride for decades , so we will tax their asses totally for the same amount of decades . You know tit for tat. Sound fair doesn't it.

Watch the wealthy ride off into the sunset with it. They're not going to just let you take it.

 

[hadit]

/——/ I say triple corporate taxes so we can all pay more for stuff including the extra sales tax. What could possibly go wrong?

Of course, they're bottomless pits of money, after all.