colfax_m
Diamond Member
- Nov 18, 2019
- 38,988
- 14,843
- 1,465
As was said earlier, 401ks aren’t taxed with capital gains.Would you be in favor of taxing your next year's salary, today?I'm not confusing anything, I'm just responding to the statement from the previous poster.I agree with this 100%. Capital gains and labor shouldn't be treated differently. This is one way that the wealthy game the tax system and is rife with abuse.Taxing capital gains as ordinary income would reduce tax avoidance and levels of speculation in the secondary market which, in the long run, would prove beneficial to society as a whole.Biden’s treasury secretary, the kook that she is, is in favor of taxing unrealized capital gains. How dumb can these folks be?
Mac1958 you voted for these geniuses. What do you think about this ridonkulous idea?
Oaktree's Howard Marks says this tax proposal in the U.S. makes investing less attractive
How might the taxation of capital gains be improved?
"Taxing capital gains at the same rates as ordinary income would simplify the tax system by removing major incentives for tax sheltering and other attempts to manipulate the system. This could be accomplished by taxing accrued capital gains on an annual basis."
You are conflating 2 different things. If you want to tax REALIZED capital gains as ordinary income that is one discussion. Taxing UNREALIZED capital gains in entirely different.
Taxing unrealized capital gains, like any argument, has pros and cons. Yellen is just hearing the argument. No reason to get anyone's panties in a wad.
Taxing unrealized capital gains is a bad idea because it doesn't represent income, just money sitting in an account. Its not guaranteed income, the markets will fluctuate.
Also, why do you folks want to mess with peoples retirements? You think this will only affect the rich? I assure you I don't want to pay taxes on my unrealized 401k gains. The point of the 401k was to have pre tax income being used to help grow that as a benefit to me for retirement. Now the left wants to remove that benefit.
Its not like the market is super volatile. I wonder in a given decade how many years are down.