- Apr 10, 2013
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Again, I'd agree that AOC is a little nuts, but not taxing the 1% ANYTHING on cap gains NEVER drove them offshore. All we did was let Moscow Mitch give his party elite extra shugah.The capital was not driven offshore before the gop changed the rules on cap gains and the estate tax. AOC is nuts, but I'm not dissing dems for trying to claw back what the gop gifted to the 1%Do you consider driving even more long term capital investment offshore than we already do a "downside"? because that is exactly what taxing unrealized cap gains will accomplish.Personally, I don't see the downside in taxing unrealized cap gains that are not held in retirement accounts like Iras or 401ks or pension plans. People can still itemize and take losses if their earnings are enough to not just take the "humongous" standard deduction that Moscow Mitch and Trump have generously allowed us … while cutting the 1%'s taxes even further.
Why would you want to invest long term in the U.S. if you're facing a guaranteed taxation based haircut on returns each and every year; why not just just take your long term capital investments overseas where you're not facing such a gigantic disadvantage?
I'd prefer repealing the entire gop personal tax bill and just reinstating an estate tax that only applies to estates worth 5 million or more, and is set at the same level as the highest income tax rate.
Then people will just find a place for 4.8 million.
The Democrats are under the illusion that when they go to take the rich mans money, he takes his thumb and holds his pockets open to make it easier on them. The number one priority for the wealthy is finding ways to keep what they made, so they will always find a way.
When somebody takes a little less of your property, it's hardly considered a gift.
So when was their capital gains never taxed? It's not taxed while they're holding the stock, it's taxed when they sell it and reap the profit.
Can you defer capital gains taxes in perpetuity?