You're not pretending to not understand by any chance? Re-define non-withdrawn interest as another type of capital gain and vee-oh-la! I no longer pay taxes on interest until I withdraw it. Just like the millionaires with their capital gains. That or re-define capital gains as earned income whether they spend it or not that year. Just like my savings account. Then watch the increased tax revenues start to solve our fiscal crises.
It’s still in the bank… unrealized
Yes, because that is the law. Can the law not be changed? I think you are deliberately being dense to avoid debate, but this is a debate forum, Todd.
That’s only because it was legislated that way. Both are unrealized income and that could easily change
Okay you're being deliberately obtuse. I don't need to "post it" you already agreed that the law says interest on my savings account gets taxed whether I withdraw it this year or not and capital gains don't get taxed until they are withdrawn. That's what should change. Real answer or
Can you spend it without doing anything?
Okay you're being deliberately obtuse. I don't need to "post it" you already agreed that the law says interest on my savings account gets taxed whether I withdraw it this year or not and capital gains don't get taxed until they are withdrawn. That's what should change. Real answer or
Something has to happen (a sale) in order to hold those gains in your hand
When you sell stock you “do something “ that provides you money. Money you can hold in your hand, spend, put in the bank… whatever
