Democrats plan to tax "unrealized gains" with their sweeping tax proposal in 2025.

[Resnic]

The GOP better keep the House, otherwise the Democrats will jam through the massive tax plan in 2025. Of course they use the same cover story that it will ONLY be taxes on the "very wealthy" and "corporations". If you are dumb enough to believe that, you deserve to lose a few more thousand in income to the Feds.

Senate Finance Democrats look to raise revenue for 2025 tax cliff - Roll Call

Panel Democrats left a meeting aligned on the need for wealthy individuals and multinational corporations to pay more.

rollcall.com

It will be worded so it only hurts the non rich.

If it is unrealized gains across the board then all of their stock holdings and investments and such will be taxable. They will include a loophole for themselves and for their donators.

As trump pointed out.



They are rich, their friends are rich, their donators are rich. They won't do anything to hurt themselves or those that give them money.

 

[jotathought]

How do you tax unrealized gains -- potential gains or losses that only exist on paper? What happens when there's a loss? Do you get a refund? What a great way to discourage investing, especially if you have to pay capital gains on top of the unrealized gain tax.

It's like taxing an individual who interviews for three jobs and gets the offer for the lowest-paying job. You might as well tax that individual for what they could have realized had they received the higher-paying job. What a stupid mentality.

 

[Captain Caveman]

How do you tax unrealized gains -- potential gains or losses that only exist on paper? What happens when there's a loss? Do you get a refund? What a great way to discourage investing, especially if you have to pay capital gains on top of the unrealized gain tax.

It's like taxing an individual who interviews for three jobs and gets the offer for the lowest-paying job. You might as well tax that individual for what they could have realized had they received the higher-paying job. What a stupid mentality.

It's like taxing the turnover as opposed to taxing the profit.

The unrealised gain or loss is unknown until the date of disposal. So will they want to tax intangible assets too, say, like goodwill?

Democrats have stupid ideas.

 

[jotathought]

It's like taxing the turnover as opposed to taxing the profit.

The unrealised gain or loss is unknown until the date of disposal. So will they want to tax intangible assets too, say, like goodwill?

Democrats have stupid ideas.

How do you tax an unrealized loss? If you purchase investments @ $200/share and the economy takes a hit or the organization has a hiccup and it's now worth $100/share .. what happens? From a tax perspective, does the government say, "Fuck it .. you didn't make money so we don't care?"

 

[Captain Caveman]

How do you tax an unrealized loss? If you purchase investments @ $200/share and the economy takes a hit or the organization has a hiccup and it's now worth $100/share .. what happens? From a tax perspective, does the government say, "Fuck it .. you didn't make money so we don't care?"

It's impossible, but somehow not according to Democrats.

How would the value of something unrealised be determined, whether it's a gain or loss? Bizarre.

 

[Rambunctious]

This is why you can't believe Kamala when she says she won't tax tips.... dems love to tax us to death....

 

[Jarlaxle]

So you're going to be penalized for property ownership?

And de facto ban retirement savings.

 

[Rambunctious]

Dem plan to tax... enough said... its what they do... just because they wait for their second term does not mean they are not salivating over getting more of your money to waste on themselves....

 

[task0778]

First, there's a question about if the Constitution would allow unrealized gains to be taxed, and the virtual impossibility of doing so in any just way. Moreover, taxing unrealized gains hurts economic activity by discouraging investment and capital formation, the lifeblood of a dynamic economy. When individuals know their unrealized gains will be taxed, they have less incentive to invest in productive assets such as stocks, real estate, or businesses. This leads to a misallocation of resources and slower economic growth. Then there's the problem of getting 60 votes in the Senate to pass such a bill, not to mention the House and the President signing it. It is an extremely stupid idea that is never going happen unless the democrats end the filibuster in the Senate. IMHO, there are few ways that could lead to an economic downturn and resulting depression as fast as this idea would.

 

[justoffal]

The GOP better keep the House, otherwise the Democrats will jam through the massive tax plan in 2025. Of course they use the same cover story that it will ONLY be taxes on the "very wealthy" and "corporations". If you are dumb enough to believe that, you deserve to lose a few more thousand in income to the Feds.

Senate Finance Democrats look to raise revenue for 2025 tax cliff - Roll Call

Panel Democrats left a meeting aligned on the need for wealthy individuals and multinational corporations to pay more.

rollcall.com

One more thing that will end up in the laps of the average tax payer.

 

[Hector12]

How come there is no one on either side of the aisle who ever say "we need to cut spending"?

Because the voters want more government spending. Every item in the federal budget has a powerful constituency to protect it, and the largest and most expensive programs are the most popular.

 

[debbiedowner]

The GOP better keep the House, otherwise the Democrats will jam through the massive tax plan in 2025. Of course they use the same cover story that it will ONLY be taxes on the "very wealthy" and "corporations". If you are dumb enough to believe that, you deserve to lose a few more thousand in income to the Feds.

Senate Finance Democrats look to raise revenue for 2025 tax cliff - Roll Call

Panel Democrats left a meeting aligned on the need for wealthy individuals and multinational corporations to pay more.

rollcall.com

Do you make $100 million a year? Better do some research before you get your panties stuck up your ass.

 

[debbiedowner]

Do you make $100 million a year? Better do some research before you get your panties stuck up your ass.

Jackoffjacko didn't go look that up.

 

[JustAGuy1]

Jackoffjacko didn't go look that up.

He has a History of being ill informed. Facts don't seem to be his "thing".

 

[debbiedowner]

One issue in this plan has captured specific attention: a new tax on unrealized capital gains. Biden, and now Harris, have proposed levying an annual tax on the static wealth of households worth more than $100 million. Specifically, households worth more than $100 million would pay an annual minimum tax worth 25% of their combined income and unrealized capital gains.

Democrats Plan to Tax Unrealized Capital Gains: What It Means for Wealthy Households

One issue in this plan has captured specific attention: a new tax on unrealized capital gains. Some households would pay a tax worth

smartasset.com

 

[LeroyDumonde]

Pretty soon Democrats will charge you sales tax on things you could have bought but didn't.

 

[Hector12]

One issue in this plan has captured specific attention: a new tax on unrealized capital gains. Biden, and now Harris, have proposed levying an annual tax on the static wealth of households worth more than $100 million. Specifically, households worth more than $100 million would pay an annual minimum tax worth 25% of their combined income and unrealized capital gains.

Democrats Plan to Tax Unrealized Capital Gains: What It Means for Wealthy Households

One issue in this plan has captured specific attention: a new tax on unrealized capital gains. Some households would pay a tax worth

smartasset.com

Sounds good to me.

 

[Jarlaxle]

Sounds good to me.

That's because you envy your betters.

 

[DakotaKai_fan20]

The GOP better keep the House, otherwise the Democrats will jam through the massive tax plan in 2025. Of course they use the same cover story that it will ONLY be taxes on the "very wealthy" and "corporations". If you are dumb enough to believe that, you deserve to lose a few more thousand in income to the Feds.

Senate Finance Democrats look to raise revenue for 2025 tax cliff - Roll Call

Panel Democrats left a meeting aligned on the need for wealthy individuals and multinational corporations to pay more.

rollcall.com

They say it will affect the rich and corporations. But they will tax the poor and the impoverished even more.

 

[MarathonMike]

They say it will affect the rich and corporations. But they will tax the poor and the impoverished even more.

It's "bait and switch" every election year with the Democrats. Which Party relies on their rich Hollywood friends, entertainers and deep pocket donors? All they do is lie and deceive.