Michigan Democrat Mallory McMorrow compares the Trump administration to Nazi Germany

[Man With A Plan]

Sure, there is truth in that. But also truth in the idea that when the GOP suddenly decides to be fiscally responsible it always amounts to screwing the poor and working class and middle class. The wealthy are always excempt from the sacrifices of fiscal responsibility. In fact, they get massive tax cuts, which make just as little fiscal sense as Obamacare if not less.

Republicans:

Should we tax capital gains as they are accrued, instead of letting tax avoiders wait until they cash out their millions in profits in order to close the fiscal gap? No, of course not, that would have the wealthy paying more! They shouldn't have to pay taxes on it until they take it out to spend it!

Then should we stop taxing the interest that the working and middle class earn on savings accounts and CD's? NO! That would be fiscally irresponsible!

With all due respect? Anyone that thinks it's a good idea to tax capital gains as they "accrue" is insane. The gain isn't realized. That happens when the asset is sold. There may never BE a capital gain!

 

[konradv]

Democrats are the real fascists.

 

[LoveKimWexler]

With all due respect? Anyone that thinks it's a good idea to tax capital gains as they "accrue" is insane. The gain isn't realized. That happens when the asset is sold. There may never BE a capital gain!

When there is a capital gain, the account holder has full access to the money, can borrow against the money, or can choose to leave it to grow more. It's their money as soon as the gain is made.

The fact that it could be lost if they leave it in the investments doesn't change that. I could borrow money against my savings account without ever taking it out, lose the money at the track and then I would lose the interest I gained without ever withdrawing it.

You've been brainwashed to believe that the wealthy should not pay taxes because they do so much good with their money, while working class people tend to blow it on beer and cigarettes.

 

[Man With A Plan]

When there is a capital gain, the account holder has full access to the money, can borrow against the money, or can choose to leave it to grow more. It's their money as soon as the gain is made.

The fact that it could be lost if they leave it in the investments doesn't change that. I could borrow money against my savings account without ever taking it out, lose the money at the track and then I would lose the interest I gained without ever withdrawing it.

You've been brainwashed to believe that the wealthy should not pay taxes because they do so much good with their money, while working class people tend to blow it on beer and cigarettes.

You're not going to get people to invest if they have to pay taxes on unrealized capital gains. That's a "paper" profit! It doesn't exist until the gain is taken. Are we giving them a tax write off when the value of an investment goes down?

 

[Man With A Plan]

My family owns a large farm. On paper its worth about 6 million but that's if it's sold for development. So does that count as a capital gain? Do you expect us to pay a tax on that increased value even though we haven't realized it?