You ready to pay Kama-Kama-Chameleon's 25% tax on the ultra-wealthy's unrealized capital gains?

[AntonToo]

Where does it say only gains from Jan 1st the previous year?
It doesn't.

Thats how income taxation works dum dum.

If they wanted to tax all prior year unrealized gains then they would SPECIFICALLY SAY SO in the proposal.

 

[Toddsterpatriot]

Thats how income taxation works dum dum.

If they wanted to tax all prior year unrealized gains then they would SPECIFICALLY SAY SO in the proposal.

It says "unrealized capital gains", not "only last years unrealized gains"

 

[AntonToo]

It says "unrealized capital gains", not "only last years unrealized gains"

AS PART OF ANNUAL TAX LIABILITY, that applies to income during the year, not income in other years.

The context is clear and there is no indication in proposal it would work much differently from any other income.

Insistance that this tax is meant to apply to gains in years prior to the new law is baseless.

 

[hadit]

...do you seriously not understand what you are explained?

Unrealized capital gains FOR THE YEAR would be taxed as if they were part of income FOR THE YEAR.

No, they would not apply to capital gains from prior years.

I should get a refund for unrealized losses as well.

 

[Hum Dinger]

Vice President Harris Lays Out Agenda To Lower Costs for American Families

mailchi.mp

She is responsible for this idiotic plan.

And to the extent that she would only apply the unrealized gain tax on folks with net assets over 100 million dollars doesn’t help. In fact, that itself is a violation of equal protection.

I've searched the document you posted and found no mention of any tax on unrealized capital gains.

Could you please post the quote from that document that calls for a tax on unrealized capital gains?

I'm starting to suspect that Harris has NEVER called for such a tax and that this is all another BIG LIE from the MAGA idiots.

 

[Hum Dinger]

Not when, for example, it's inherited.

I've seen many articles complain against the tax without giving the details of the tax. Makes me suspicious.

So far, no one is able to post a link to Harris proposing any tax on unrealized gains.

This seems to be entirely a MAGA hoax. Lot's of articles about this tax but none linking to any statements by Harris or her campaign proposing it.

This reminds me of when Harris seemed to have won a debate against Joe Biden in the 2016 primary debates - immediately there were hundreds of articles saying the Harris was descended from slave owners - even images of a document supposedly signed by Harris' father.

That turned out to be 100% MAGA hoax.

It is amazing how the MAGA traitors can quickly spam the internet with false information.

It's also amazing that these people continue to blatantly lie without conscience.

 

[healthmyths]

The mistake you're making is in counting the total unrealized capital gains since 1980 as the annually taxable amount. That's incorrect. The proposed tax on unrealized capital gains would apply to the increases in value that year. Which you'd pay only once. Not the total change in valuation since the purchase in previous years, paid every year.

So a stock was purchased at $10.00 a share and during the year increased to $12.00 a share, the portion that would be subject to unrealized capital gains taxes would be $2.00 per share. At 25%, that would be fifty cents per share. You pay that once.

However, the next year if there is no increase and the shares remain at $12.00, there would be no unrealized gains and thus no taxes on those shares. You do not have to pay the fifty cents per share unrealized capital gains taxes AGAIN from the previous year. You pay them only once, on the increase in value for a given year.

However, if the 3rd year the price went up to $15.00 a share, the unrealized capital gains tax would be on the difference in value for that year: $12.00 increasing to $15.00, for a total of $3 per share being subject to unrealized capital gains taxes. And only once.

NOT the original purchase price of $10.00 increasing to $15.00, for a total of $5 per share being subject to taxation and every year, as your example above portrayed.

All well and good…EXCEPT… where do theses filthy evil rich get the money to pay the taxes? Use $$ they would have spent on new homes cars, more new ventures or stock and would they sell the stocks to pay taxes at a loss possibly?

 

[hadit]

So far, no one is able to post a link to Harris proposing any tax on unrealized gains.

This seems to be entirely a MAGA hoax. Lot's of articles about this tax but none linking to any statements by Harris or her campaign proposing it.

This reminds me of when Harris seemed to have won a debate against Joe Biden in the 2016 primary debates - immediately there were hundreds of articles saying the Harris was descended from slave owners - even images of a document supposedly signed by Harris' father.

That turned out to be 100% MAGA hoax.

It is amazing how the MAGA traitors can quickly spam the internet with false information.

It's also amazing that these people continue to blatantly lie without conscience.

Until she comes out and disavows the idea, she's going to be stuck with it. Sorry, but that's just politics. It's just like Project 2025, which democrats are desperately trying to tie to TRUMP!. He came out and disavowed it, which just makes them look foolish now as they continue trying.

 

[AntonToo]

I should get a refund for unrealized losses as well.

You are worth 100 million and are paying less than 25% tax rate?

If not, then no, you shouldn't.

 

[Hum Dinger]

Until she comes out and disavows the idea, she's going to be stuck with it. Sorry, but that's just politics. It's just like Project 2025, which democrats are desperately trying to tie to TRUMP!. He came out and disavowed it, which just makes them look foolish now as they continue trying.

Trump disavowing Project 2025 is nonsense. He's a lying bag o shit and everyone knows it. Project 2025 was entirely created by his people and is the basis for his agenda.

The tax on unrealized capital gains is entirely an invention of the MAGA crowd - soon everyone will know that as well. The MAGA crowd will continue to promote the lie that it's Harris' idea, but the only ones that will believe it are the MAGA Idiots themselves. It will change nothing - just another example of the QAnon/MAGA lies.

 

[my2¢]

So far, no one is able to post a link to Harris proposing any tax on unrealized gains.

She's backing Biden's plan and it's buried in here:

FACT SHEET: The President’s Budget Cuts Taxes for Working Families and Makes Big Corporations and the Wealthy Pay Their Fair Share | The White House

Since taking office, President Biden has fought to build a fairer tax system that rewards work, not wealth; asks the wealthiest Americans and largest

www.whitehouse.gov

 

[Independent thinker]

Kamala Harris Unrealized Gains Tax Should Worry Voters​

The potential for Kamala Harris to push a 25% unrealized gains tax is worrisome, as it could drive wealth out of the U.S.

https://pro.thestreet.com/market-commentary/kamala-harris-unrealized-gains-tax-should-worry-voters

Here is how it will affect the average American.
The average ultra-wealthy bought 10,000 shares of Apple stock in 1980 for $22.00 a share or $220,000 cost buy 10,000 shares.
Today these shares would be worth $21,000,000.
Under Kama-kama-chameleon plan this "ultra-wealthy" will have to pay 25% on the $20,780,000 gain or $5,195,000 taxes.

BUT the 25% taxes will come OUT of either selling the stock or out of the "ultra-wealthy" other income.
The "ultra-wealthy" Apple stock holder will be paying that $5.1 million every year!

Now for those of you truly ignorant people who think that is so great...

YOU have NO idea what that will do to the economy as these "ultra-wealthy" will be cutting back on their building businesses, hiring people, buying goods and services. This will be disastrous for the rest of us Americans.

The wealth effect is a behavioral economic theory suggesting that people spend more as the value of their assets rise.
The idea is that consumers feel more financially secure and confident about their wealth when their homes or investment portfolios increase in value.

The Wealth Effect: Definition and Examples

The wealth effect is a behavioral economic theory suggesting that consumers spend more when their wealth increases, even if their income does not.

www.investopedia.com

The left are totally blind to the fact that when you go after the rich for money, it is the small fry who are actually paying it, not the wealthy. More inflation to come.

 

[Hum Dinger]

She's backing Biden's plan and it's buried in here:

FACT SHEET: The President’s Budget Cuts Taxes for Working Families and Makes Big Corporations and the Wealthy Pay Their Fair Share | The White House

Since taking office, President Biden has fought to build a fairer tax system that rewards work, not wealth; asks the wealthiest Americans and largest

www.whitehouse.gov

Please post the exact quote from that document that proposes a tax on unrealized capital gains. I could not find any.

Still looks like a MAGA hoax.

 

[Hum Dinger]

The left are totally blind to the fact that when you go after the rich for money, it is the small fry who are actually paying it, not the wealthy. More inflation to come.

We know that whenever the American People elect a government that acts in favor of working Americans the wealthy will try to collapse the economy.

Most people did not understand that in 2008, but there's a whole new generation of working Americans who understand that reality - and we will not stand for it.

When push comes to shove, working Americans hold the majority of the power by far. The wealthy only exist at the discretion of working Americans.

 

[Jarlaxle]

Do you have unrealized capital gains?

Most smart people do.

Ain't no one here going to be paying this tax.

Yet.

 

[pknopp]

Most smart people do.

Yet.

Ever.

 

[Independent thinker]

We know that whenever the American People elect a government that acts in favor of working Americans the wealthy will try to collapse the economy.

Most people did not understand that in 2008, but there's a whole new generation of working Americans who understand that reality - and we will not stand for it.

When push comes to shove, working Americans hold the majority of the power by far. The wealthy only exist at the discretion of working Americans.

The wealthy do not try to collapse the economy. That's a stupid thing to say. The rich get richer with a healthy economy.

 

[pknopp]

The wealthy do not try to collapse the economy. That's a stupid thing to say. The rich get richer with a healthy economy.

The rich got massively richer after collapsing the economy in 2008.

 

[Independent thinker]

The rich got massively richer after collapsing the economy in 2008.

I had no idea that some of you lefties were that stupid. You've drunken the kool aid so much you are now sniffing the vapors.

 

[Crepitus]

Most smart people do.

That is a deflection, not an answer.