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

[Winco]

1) why does it matter if it’s .1 percent?

2) your link talked about home equity loans. With that said I fail to see what any of this has to do with harris plan to tax money that doesn’t exist…please explain?

I can't explain to someone that won't listen.

Why did you change 0.01 % into .1 Percent ?

To the 0.01 %, certainly not applying to ANY poster on USMB.

 

[Crepitus]

YES, absolutely. Anyone that owns a house has unrealized cap gains, anyone with a 401K, IRA, mutual fund, any stock

Do you know what unrealized cap gains are?

Are you worth $100,000,000.00?

 

[struth]

Are you worth $100,000,000.00?

Maybe, who’s gonna decide that? Why does it matter? How can the govt tax something that isn’t even real?

 

[Crepitus]

Maybe, who’s gonna decide that? Why does it matter? How can the govt tax something that isn’t even real?

Nobody has to decide that. It's math, not any sort of opinion. Either you have that much money or you don't.

And as I've said before, just because you didn't convert to cash doesn't mean you didn't make money.

 

[struth]

Nobody has to decide that. It's math, not any sort of opinion. Either you have that much money or you don't.

And as I've said before, just because you didn't convert to cash doesn't mean you didn't make money.

Haha wrong, what something is worth is certainly a matter of opinion. What I value my house at, might not be the same as what you value it at

 

[Crepitus]

Haha wrong, what something is worth is certainly a matter of opinion. What I value my house at, might not be the same as what you value it at

Don't be stupider than you have to be kid.

There are formulae for this kinda thing when it comes to taxes. It's not subjective.

 

[cutter]

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

This tax on the wealthy is just "the camels nose under the tent". Before long it will be anyone that owns a home.

 

[struth]

Don't be stupider than you have to be kid.

There are formulae for this kinda thing when it comes to taxes. It's not subjective.

Value is certainly subjective

What the govt appraises my house for is not How much I value my house at or what I could get on the market

Clearly you have never purchased real estate

 

[Crepitus]

Value is certainly subjective

What the govt appraises my house for is not How much I value my house at or what I could get on the market

Clearly you have never purchased real estate

We aren't talking about selling anything. We are talking about value assigned by a formula that is applied to all properties. Level playing field.

Clearly you've never paid property taxes.

 

[struth]

We aren't talking about selling anything. We are talking about value assigned by a formula that is applied to all properties. Level playing field.

Clearly you've never paid property taxes.

We are talking about taxing unrealized money. Harris wants to do that.

I have paid property taxes, and it’s based on the actual appraiser’s value the govt gets. That’s not what I would sell my house for, or my car for.

 

[Crepitus]

We are talking about taxing unrealized money.

"unrealized" is one of those words that doesn't mean what you think it does.

 

[struth]

"unrealized" is one of those words that doesn't mean what you think it does.

It means it’s not been earned. What part of that don’t you get? The money doesn’t actually exist until or if it’s sold

 

[Crepitus]

It means it’s not been earned.

LMAO!!! No, it doesn't.

It means you haven't converted it to liquid funds. It does not mean you haven't earned it.

All of you guys pretend you have money and that you understand how finances work, but you really don't have a clue or any money. You are pissing and moaning about something you don't understand and isn't going to affect you in the slightest anyway just because some damn TV ad or email told you to.

Why don't you use your head for something besides holding up that stupid red hat for a change.

 

[struth]

LMAO!!! No, it doesn't.

It means you haven't converted it to liquid funds. It does not mean you haven't earned it.

All of you guys pretend you have money and that you understand how finances work, but you really don't have a clue or any money. You are pissing and moaning about something you don't understand and isn't going to affect you in the slightest anyway just because some damn TV ad or email told you to.

Why don't you use your head for something besides holding up that stupid red hat for a change.

Of course it does. It doesn’t actually exist. It’s not money, it’s not something I can spend. Not until I sell it do I earn it.

Of course it effects me if harris has her way and thinks she can tax something that doesn’t exist.

 

[Crepitus]

Of course it does. It doesn’t actually exist. It’s not money, it’s not something I can spend. Not until I sell it do I earn it.

Of course it effects me if harris has her way and thinks she can tax something that doesn’t exist.

Sure kid, run with that.

 

[struth]

Sure kid, run with that.

I am happy to. You keep falling for these demafacist that tell you it’s the rich peoples fault your life is so pathetic.

 

[AntonToo]

how am I doing that? This convo is about Kameltoe's plan to tax unrealized money. Read the OP

Specific question was about wealth estimate given that it's a taxation factor.

You proposition that IRS shouldn't internaly estimate it is ludecrous.

 

[struth]

Specific question was about wealth estimate given that it's a taxation factor.

You proposition that IRS shouldn't internaly estimate it is ludecrous.

I never said they shouldn’t give estimates. What we are talking about those is unrealized cap gains. That’s what harris wants to tax.

 

[AntonToo]

I never said they shouldn’t give estimates. What we are talking about those is unrealized cap gains. That’s what harris wants to tax.

Tax based on 100m+ net worth dum dum.

You can’t even keep track of what is being discussed.

 

[struth]

Tax based on 100m+ net worth dum dum.

You can’t even keep track of what is being discussed.

She doesn’t want to tax net worth, shes proposed to tax unrealized cap gains

With that said, taxing someone’s net worth is a horrible idea too