Michigan Democrat Mallory McMorrow compares the Trump administration to Nazi Germany

[Toddsterpatriot]

How much is the stock worth the moment after you buy it? Nothing, because the value doesn't exist until you sell it?

No. It is worth $100,000 with some margin of error for you either overpaying or getting a bargain. Or would you have paid that much for something whose value doesn't exist?

Why do banks lend money on stock or land that has increased in value? Banks like to lend money with collateral whose value doesn't exist?

Not taxing capital gains is the greatest tax shelter for the wealthy we have. They can borrow against it and pay no taxes on the loan.

They can shelter it until they die and then it stays sheltered due to the rule of stepped up cost basis for inherited capital.

Not taxing capital gains is the greatest tax shelter for the wealthy we have. They can borrow against it and pay no taxes on the loan.

But they're paying interest on the loan. Year in and year out,

 

[struth]

How much is the stock worth the moment after you buy it? Nothing, because the value doesn't exist until you sell it?

No. It is worth $100,000 with some margin of error for you either overpaying or getting a bargain. Or would you have paid that much for something whose value doesn't exist?

Why do banks lend money on stock or land that has increased in value? Banks like to lend money with collateral whose value doesn't exist?

Not taxing capital gains is the greatest tax shelter for the wealthy we have. They can borrow against it and pay no taxes on the loan.

They can shelter it until they die and then it stays sheltered due to the rule of stepped up cost basis for inherited capital.

It’s worth the value that you pat at the time you pay it. Of course you invest in something expecting it to go up value

 

[Man With A Plan]

How much is the stock worth the moment after you buy it? Nothing, because the value doesn't exist until you sell it?

No. It is worth $100,000 with some margin of error for you either overpaying or getting a bargain. Or would you have paid that much for something whose value doesn't exist?

Why do banks lend money on stock or land that has increased in value? Banks like to lend money with collateral whose value doesn't exist?

Not taxing capital gains is the greatest tax shelter for the wealthy we have. They can borrow against it and pay no taxes on the loan.

They can shelter it until they die and then it stays sheltered due to the rule of stepped up cost basis for inherited capital.

Who told you that capital gains aren't taxed? Do you even pay taxes?
We tax on income...not on how much capital someone has. You want a tax on wealth. You want the government taking it away from people.

 

[Man With A Plan]

I have not studied the suggestions, but I'll say this: The cuts DOGE has actually made are real cuts that they are being very open about, so people who want to study them can. They've even had to backtrack on some.

I'll take that over some "fiscal hawk" complaining that we need to cut spending and balance the budget without ever putting forth an example balanced budget.

As to the "cost cutting suggestions" I don't give them a thought. You guys are in charge, no need to bother with suggestions. Start cutting and let the voters decide.

I hate to be blunt but you seem very uninformed. DOGE didn't have the authority to make cuts. They made recommendations.

 

[LoveKimWexler]

Who told you that capital gains aren't taxed? Do you even pay taxes?

Not taxing capital gains as they are earned. That's what we are talking about. Try to keep up.

We tax on income...not on how much capital someone has. You want a tax on wealth. You want the government taking it away from people.

All taxes are government taking wealth away from people. You don't have to keep explaining what we do now. I'm arguing for a change in what we do. Get it?

I hate to be blunt but you seem very uninformed. DOGE didn't have the authority to make cuts. They made recommendations.

I said I haven't studied it. In that case, my opinion of the cost-cutting recommendations of DOGE is that they are meaningless. It's just Elon and Vivek making suggestions like anyone else can. I don't think that's the question you wanted to ask, but i'm not going to think for you.

It’s worth the value that you pat at the time you pay it. Of course you invest in something expecting it to go up value

Why are you answering for Man With A Plan? He says that the value of investments doesn't exist until they are sold.

If you want to explain it to him, please do. I've had no success. Tell him this: The price of stock doesn't go up ten percent in a month for no reason as he thinks. Stock goes up because the company becomes more valuable. It acquires another company that is worth more than it paid for it, it shows a strong quarterly profit for the third quarter in a row and plows the money into more capital, it opens a new plant that is worth more than the costs of materials and construction it paid, it settles a lawsuit that was making investors wary to buy its stock, or any one of an infinite number of ways corporation try to make their stock more valuable.

I feel like that should be the Republican argument when socialists talk about the uselessness of the capitalist. You think Man with a Plan is a socialist?

 

[eagle1462010]

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!

A home thatbl you sell is a Capital Gain if you sell it for a profit. We get taxed every year in its value in property taxes. We get taxed on the material to build it hidden in Construction costs.

Now your sorry ass wants to tax us if increases in value EVEN IF WE ARE NOT SELLING IT? You gonna refund our money if it drops in value? Hmmmm?

People like are Why placea like Cali pay so damn much for everything. You try to tax EVERYTHING even the air we breath. That is WHY PEOPLE RUN AWAY FROM YOU.

You are a thief. Now at the beginning of this thread I had my wallet.

Did you steal my wallet?

 

[struth]

Not taxing capital gains as they are earned. That's what we are talking about. Try to keep up.

All taxes are government taking wealth away from people. You don't have to keep explaining what we do now. I'm arguing for a change in what we do. Get it?

I said I haven't studied it. In that case, my opinion of the cost-cutting recommendations of DOGE is that they are meaningless. It's just Elon and Vivek making suggestions like anyone else can. I don't think that's the question you wanted to ask, but i'm not going to think for you.

Why are you answering for Man With A Plan? He says that the value of investments doesn't exist until they are sold.

If you want to explain it to him, please do. I've had no success. Tell him this: The price of stock doesn't go up ten percent in a month for no reason as he thinks. Stock goes up because the company becomes more valuable. It acquires another company that is worth more than it paid for it, it shows a strong quarterly profit for the third quarter in a row and plows the money into more capital, it opens a new plant that is worth more than the costs of materials and construction it paid, it settles a lawsuit that was making investors wary to buy its stock, or any one of an infinite number of ways corporation try to make their stock more valuable.

I feel like that should be the Republican argument when socialists talk about the uselessness of the capitalist. You think Man with a Plan is a socialist?

Because he's right. What part of it don't you get?

 

[Man With A Plan]

Not taxing capital gains as they are earned. That's what we are talking about. Try to keep up.

All taxes are government taking wealth away from people. You don't have to keep explaining what we do now. I'm arguing for a change in what we do. Get it?

I said I haven't studied it. In that case, my opinion of the cost-cutting recommendations of DOGE is that they are meaningless. It's just Elon and Vivek making suggestions like anyone else can. I don't think that's the question you wanted to ask, but i'm not going to think for you.

Why are you answering for Man With A Plan? He says that the value of investments doesn't exist until they are sold.

If you want to explain it to him, please do. I've had no success. Tell him this: The price of stock doesn't go up ten percent in a month for no reason as he thinks. Stock goes up because the company becomes more valuable. It acquires another company that is worth more than it paid for it, it shows a strong quarterly profit for the third quarter in a row and plows the money into more capital, it opens a new plant that is worth more than the costs of materials and construction it paid, it settles a lawsuit that was making investors wary to buy its stock, or any one of an infinite number of ways corporation try to make their stock more valuable.

I feel like that should be the Republican argument when socialists talk about the uselessness of the capitalist. You think Man with a Plan is a socialist?

You don't "earn" a capital gain until you sell something to realize it! What part of that can't you grasp?
What you're asking for is a wealth tax. You don't want to tax income. You want to tax capital. It's the progressive wet dream and like most of their dreams won't work. If you really want to kill an economy? Tell the people that you want to invest in it that you're not only going to take their money if they make a profit...you're going to take their money if their investment increases in value!

 

[eagle1462010]

You don't "earn" a capital gain until you sell something to realize it! What part of that can't you grasp?
What you're asking for is a wealth tax. You don't want to tax income. You want to tax capital. It's the progressive wet dream and like most of their dreams won't work. If you really want to kill an economy? Tell the people that you want to invest in it that you're not only going to take their money if they make a profit...you're going to take their money if their investment increases in value!

Hell right now NY is trying to tax peoole there for property in another State.

Never ends with these low lifes trying to Steal other peoples money

 

[BlindBoo]

Propaganda wise, yep they emulate the Nazi German Fascists very well. Tactically our MAGANUT Emperor , Benedict Donald, is much closer to Mussolini, the father of Fascism. He used mobs to attack government buildings to intimidate those inside to do his bidding.

 

[BlindBoo]

Who told you that capital gains aren't taxed? Do you even pay taxes?
We tax on income...not on how much capital someone has. You want a tax on wealth. You want the government taking it away from people.

Those long term investments are income that is taxed at a lower rate than the same income from wages. People who can afford long term investments pay less in taxes on the same amount of income as those who work for waqes.

 

[Toddsterpatriot]

Those long term investments are income that is taxed at a lower rate than the same income from wages. People who can afford long term investments pay less in taxes on the same amount of income as those who work for waqes.

People who work for wages can pay 0% for their capital gains.

 

[Man With A Plan]

Those long term investments are income that is taxed at a lower rate than the same income from wages. People who can afford long term investments pay less in taxes on the same amount of income as those who work for waqes.

Those long term investments are income that is taxed at a lower rate than the same income from wages. People who can afford long term investments pay less in taxes on the same amount of income as those who work for waqes.

And why do you think that is, Boo? Let's get to the bottom of why it's structured that way! Why does the government encourage long term investment?

 

[Man With A Plan]

What annoys me about you progressives is that you'll never be honest about what you really want. Just say it...you want wealth redistribution! You want to take it from those who have it and give it to those that don't. You'll never come right out and say that of course because you know that goes counter to everything that's made America great. We've always been the "land of opportunity"! Not the "land of hand outs"! But hand outs are how you motivate your base these days. If someone will vote for you...then they're eligible for some freebies! No explanation how that's going to be paid for...but hey, don't you worry about THAT...we'll figure that out sometime in the future! That's how we've gotten idiots like Mamdani running our biggest cities!

 

[BlindBoo]

And why do you think that is, Boo? Let's get to the bottom of why it's structured that way! Why does the government encourage long term investment?

Do you think they wouldn't invest in the USA, if they had to pay the same tax rates as those who work for wages?

It's that gold rules. Whomever has the gold gets to make the rules.

 

[BlindBoo]

What annoys me about you progressives is that you'll never be honest about what you really want. Just say it...you want wealth redistribution!

Taxing someone's already accumulated wealth is like retribution for their success, imo.

Taxing income, transactions and property, should be burden enough for us all.

https://www.cato.org/blog/return-wealth-tax-evidence-against-them-stronger-ever

 

[Man With A Plan]

Do you think they wouldn't invest in the USA, if they had to pay the same tax rates as those who work for wages?

It's that gold rules. Whomever has the gold gets to make the rules.

Why would they have to? People that work for wages take zero risks. They work...they get paid. People that invest? They risk capital. They may lose it. Another concept that the left doesn't seem to grasp!

 

[LoveKimWexler]

You don't "earn" a capital gain until you sell something to realize it! What part of that can't you grasp?

Yes, it is considered "unearned" wealth. But wealth it is, whether you liquidate your wealth or not.

What you're asking for is a wealth tax.

All tax is wealth tax. How would they tax poverty?

Wait, forget I said that! Republicans will try to find a way!

You don't want to tax income.

Yes, I do.

You want to tax capital.

I want to tax increases in the value of capital. If someone buys capital with money that's already been taxed, don't tax it again. But when it grows in value, tax that additional value. I'm not favoring a wealth tax.

It's the progressive wet dream and like most of their dreams won't work. If you really want to kill an economy? Tell the people that you want to invest in it that you're not only going to take their money if they make a profit...you're going to take their money if their investment increases in value!

Dood . . . I'm not talking about taking all of the capital gains. I hope you know that are just representing yourself as not as intelligent as you actually are.

Just taxing a percentage of it, just like a ditch digger gets taxed a percent of what he gains from his labor. Why do you want ditch diggers, waitresses, and pharmacy techs to pay for your government and to let millionaires and billionaires make as much money as they can off unearned income without paying taxes on it?

If I were in full charge of the tax code, I would start pre-withdrawal capital gains at the same lowest marginal rates as income tax, but only the capital gains themselves. So up to $23,850 in capital gains in one year, taxed at only 10%. So the investor keeps 90% of their gains.

That should reduce the deficit, which so-called "fiscal hawks" never find a way to do.

I wouldn't raise marginal rates as fast as the income tax rises, though. Millionaires don't really pay 37% in income taxes, due to all the deductions, and other "tax shelters." Maybe keep it at 10% for all brackets, but no loopholes. That won't make people cash out all their mutual funds, and buy muni bonds as you fear.

 

[LoveKimWexler]

Why would they have to? People that work for wages take zero risks. They work...they get paid. People that invest? They risk capital. They may lose it. Another concept that the left doesn't seem to grasp!

"Zero risks?" You have to be kidding me!

Who takes more risks, a guy behind a large desk who owns stock in oil companies, or the roughnecks who work on their companies oil wells?

Report Presents Complex Safety Picture as Fatalities Rise but Fatality Rate Dips

Members of the International Association of Oil and Gas Producers reported 32 fatalities and a 26% jump in hours worked in 2024, which lowered the rate by 0.03 per million hours worked.

jpt.spe.org

 

[Man With A Plan]

Yes, it is considered "unearned" wealth. But wealth it is, whether you liquidate your wealth or not.

All tax is wealth tax. How would they tax poverty?

Wait, forget I said that! Republicans will try to find a way!

Yes, I do.

I want to tax increases in the value of capital. If someone buys capital with money that's already been taxed, don't tax it again. But when it grows in value, tax that additional value. I'm not favoring a wealth tax.

Dood . . . I'm not talking about taking all of the capital gains. I hope you know that are just representing yourself as not as intelligent as you actually are.

Just taxing a percentage of it, just like a ditch digger gets taxed a percent of what he gains from his labor. Why do you want ditch diggers, waitresses, and pharmacy techs to pay for your government and to let millionaires and billionaires make as much money as they can off unearned income without paying taxes on it?

If I were in full charge of the tax code, I would start pre-withdrawal capital gains at the same lowest marginal rates as income tax, but only the capital gains themselves. So up to $23,850 in capital gains in one year, taxed at only 10%. So the investor keeps 90% of their gains.

That should reduce the deficit, which so-called "fiscal hawks" never find a way to do.

I wouldn't raise marginal rates as fast as the income tax rises, though. Millionaires don't really pay 37% in income taxes, due to all the deductions, and other "tax shelters." Maybe keep it at 10% for all brackets, but no loopholes. That won't make people cash out all their mutual funds, and buy muni bonds as you fear.

In the US we tax "income". We don't tax wealth. That's something that someone has put away AFTER paying taxes on income. Why do you think government has the right to take more of that money?

Do you really not know that ditch diggers pay very little in income taxes now? We have a progressive tax system. The wealthy already pay the bulk of taxes. Ditch diggers and other low income people pay almost nothing.

Then you claim that investor's are making "unearned income without paying taxes on it"? They WILL pay taxes as soon as they take the profit from that investment! That is what a capital gain refers to! You seem to think that those people are somehow ducking paying taxes on the profits that they make. That isn't the case! They pay taxes.