Kamala supports 44% tax on capital gains

[jotathought]

Exactly. Which of the pro-taxers is going to propose tax REFUNDS for unrealized losses?

Exactly! Do investors get taxed on unrealized gains, and then taxed again once the gains are realized?

 

[debbiedowner]

Most people have no idea what an unrealized capital gain is. Taxing unrealized capital gains is a plan to have government seize private homes.

Say when you bought your house it was worth $300,000. Now it is worth $400,000. That's $100,000 in unrealized capital gains. Every year.

If you have a guest room. That can be rented for $500. A month. Every month you don't rent it is $500. In unrealized capital gains.

This law isn't an attack on the rich. It's to strip the middle class of assets.

No, you don't realize, unless you are making $100 million a year you will not pay on unrealized gains. So if you are WTF are you doing on a message board all day? I can't imagine anyone on this board that would even come close to that amount much less the majority of American's.

You know this thread was started on shit that has to go through congress and now everyone has the panties in a wad. If it ever was passed it would be a very watered down law.

 

[Orangecat]

Darn it, I agree. All tax rates higher than the capital gains rate should be lowered to 20% immediately.

10% and government should be forced to spend within revenue levels. Pass legislation that grows the economy if they want more spending money.

 

[Rawley]

Is this not the most blatant way to destroy the portfolios of successful Americans in order to hand more money over to the non-productive in society - and an obvious march toward socialism?

Kamala won’t be happy until mediocre high school grads enjoy the same lifestyle as above-average professionals with grad degrees or successful business owners - which means the mediocre, uneducated people get to move out of dumpy apartments and into an “OK” apartment, and the educated successful people get forced out of their nice SFHs and upscale townhouses into an “OK” apartment. Equity for one and all!

That is what socialism is: a shared lower lifestyle.

Kamala Harris Supports President Biden's 44.6% Capital Gains Tax Proposal

Vice President Kamala Harris has declared her support for President Joe Biden's 44.6% capital gains tax proposal.

watcher.guru

Who the F wrote that tax plan for her? Did they intentionally want to tank her campaign? Not that I'm not grateful.

 

[Rawley]

Tax Capital Gains the same as any other income

SO don't encourage investment?

 

[MarathonMike]

Is this not the most blatant way to destroy the portfolios of successful Americans in order to hand more money over to the non-productive in society - and an obvious march toward socialism?

Kamala won’t be happy until mediocre high school grads enjoy the same lifestyle as above-average professionals with grad degrees or successful business owners - which means the mediocre, uneducated people get to move out of dumpy apartments and into an “OK” apartment, and the educated successful people get forced out of their nice SFHs and upscale townhouses into an “OK” apartment. Equity for one and all!

That is what socialism is: a shared lower lifestyle.

Kamala Harris Supports President Biden's 44.6% Capital Gains Tax Proposal

Vice President Kamala Harris has declared her support for President Joe Biden's 44.6% capital gains tax proposal.

watcher.guru

A 44 percent tax rate on "Corporations" will result in a mass migration of jobs OUT OF the US and into tax friendly countries. Anyone with a modicum of intelligence knows that will be the result of such a heavy handed tax happy policy from the Democrats.

 

[Rawley]

No, you don't realize, unless you are making $100 million a year you will not pay on unrealized gains. So if you are WTF are you doing on a message board all day? I can't imagine anyone on this board that would even come close to that amount much less the majority of American's.

You know this thread was started on shit that has to go through congress and now everyone has the panties in a wad. If it ever was passed it would be a very watered down law.

So don't listen to anything she says? She's just blowing smoke up our asses?

 

[EvilCat Breath]

No, you don't realize, unless you are making $100 million a year you will not pay on unrealized gains. So if you are WTF are you doing on a message board all day? I can't imagine anyone on this board that would even come close to that amount much less the majority of American's.

You know this thread was started on shit that has to go through congress and now everyone has the panties in a wad. If it ever was passed it would be a very watered down law.

Never underestimate the venality of a democrat. They would steal the pennies off a dead man's eyes. THen say "He was rich".

 

[EvilCat Breath]

Understood .. what happens when there is a capital loss? You invest $25K in the market, trade it at $23K for an immediate funding need, and lose money. Do you get a credit? What happens when your capital gains are variable? One year you have $25k in unrealized value, and the next year you have $10K in unrealized value? Do investors get taxed once they sell their investments (again)?

It's an absolute way to discourage investing opportunities, and many will respond by finding other means, like getting a loan, to minimize their tax burdens. There is no "fair share," as the bottom 50%-ish pay little to no income tax once credits and EIC are applied.

Have you ever heard anything from a democrat about credits on investment losses?

 

[Billo_Really]

Why doesn't everyone pay "their fair share?" Wealthy individuals don't typically earn an income like you most likely received, and taxing gains at nearly 50% will stifle investment and innovation. It's a stupid idea, especially taxing unrealized gains. If you're so concerned with taxes, why don't you volunteer your funds to pay more?

Gains should be taxed at 25%.

And the rich need to be forced to pay 25% as well. No loopholes. No off-shoring of profits. We need to force these fuckers to pay their fair share.

 

[debbiedowner]

Exactly! Do investors get taxed on unrealized gains, and then taxed again once the gains are realize

So don't listen to anything she says? She's just blowing smoke up our asses?

Don't all politicians blow smoke up your ass? They can say anything they want and most of what they say has to get through congress. So how much gets through?

 

[debbiedowner]

Never underestimate the venality of a democrat. They would steal the pennies off a dead man's eyes. THen say "He was rich".

That sounds a lot like trump.

 

[Rawley]

Don't all politicians blow smoke up your ass? They can say anything they want and most of what they say has to get through congress. So how much gets through?

Closing the border does not require Congress. Trump closed it by EO, Biden opened it by EO and Trump will close it by EO. Mass deportation does not require Congress. Opening up Federal lands for drilling and fracking does not require Congress. Tariffs do not require Congress.

 

[debbiedowner]

Closing the border does not require Congress. Trump closed it by EO, Biden opened it by EO and Trump will close it by EO. Mass deportation does not require Congress. Opening up Federal lands for drilling and fracking does not require Congress. Tariffs do not require Congress.

I never said it did and this thread was about taxes not the border.

 

[Rawley]

I never said it did and this thread was about taxes not the border.

Just responding to your response "They can say anything they want and most of what they say has to get through congress. So how much gets through?" None of Trump's core promises require Congress. All of Vapid Harris' do.

 

[hadit]

Exactly! Do investors get taxed on unrealized gains, and then taxed again once the gains are realized?

Of course they would. They are attempting to eliminate true private property and get everyone accustomed to renting everything from the government.

 

[debbiedowner]

Just responding to your response "They can say anything they want and most of what they say has to get through congress. So how much gets through?" None of Trump's core promises require Congress. All of Vapid Harris' do.

Tax code has to go through congress.

 

[EvilCat Breath]

That sounds a lot like trump.

Great minds think alike. Both Trump and I have seen the like of this before.

 

[Rawley]

Tax code has to go through congress.

True. But tax cuts are the 6th priority on Trump's list of priorities.

Harris' $5 Trillion in tax increases is the first policy position she has come out with.

 

[jotathought]

Gains should be taxed at 25%.

And the rich need to be forced to pay 25% as well. No loopholes. No off-shoring of profits. We need to force these fuckers to pay their fair share.

What about everyone else who isn't paying "their fair share?"