Bend over and open your wallet!

[92562]

Harris' economic plan includes a 25% tax on unrealized gains!!!

Wall Street Labels Kamala Harris' Proposed Tax On Unrealized Gains As 'Dumb' Move: 'Opposite Of Creating Incentives To Be Long-Term Oriented' - SPDR S&P 500 (ARCA:SPY)

Democratic presidential candidate Kamala Harris is widely expected to continue the policies of President Joe Biden’s administration, where she has played a key role.

www.benzinga.com

 

[TimeBandit]

Pretty soon tax will have a "fee" for processing.

 

[HST4ME]

I ain't paying shit.

 

[Wizard29]

Harris' economic plan includes a 25% tax on unrealized gains!!!

Wall Street Labels Kamala Harris' Proposed Tax On Unrealized Gains As 'Dumb' Move: 'Opposite Of Creating Incentives To Be Long-Term Oriented' - SPDR S&P 500 (ARCA:SPY)

Democratic presidential candidate Kamala Harris is widely expected to continue the policies of President Joe Biden’s administration, where she has played a key role.

www.benzinga.com

On people with income and assets totaling over $100M.

I don't think anybody here has to worry about it, but it's still bullshit along with the rest of her tax "strategies."

 

[DLC]

What only 25%….

It was supposed to be 50% - pay your fair share!


Looks like I’m NOT voting for her…..


LOL

 

[King295]

A tax on gains that you have not realized (i.e. converted to cash to pay said taxes) makes perfect sense. Gov gets their share before you.

 

[mjc]

And when I value goes down do you get it back?

 

[JL95]

I love how much the dems piss on any motivation to do well in life lol or in this matter for your investments to do well.

 

[shintoooo]

Awesome

 

[BabyRay]

And when I value goes down do you get it back?

Kamala Harris was recently quoted as saying “No, because then it wouldn’t be a tax. And if it’s not a tax, it’s not really a tax.”

But don’t worry, members of the Legislative and the Executive Branch will be exempt.

 

[Dunerking]

On people with income and assets totaling over $100M.

I don't think anybody here has to worry about it, but it's still bullshit along with the rest of her tax "strategies."

I hope Brandon pays his share..along with that cunt Pelosi

 

[Javajoe]

Well she wants to forgive all medical debt now and build 3 million homes for the middle class. So we have that

 

[DWC]

And when I value goes down do you get it back?

Of course.

 

[DWC]

Well she wants to forgive all medical debt now and build 3 million homes for the middle class. So we have that

Longer recess and free pizza for everyone.

 

[Sleek-Jet]

On people with income and assets totaling over $100M.

I don't think anybody here has to worry about it, but it's still bullshit along with the rest of her tax "strategies."

Ok, so what happens when all those high worth individuals just take their marbles and go somewhere else?

Also, if the tax is lower on capital gains, why would anyone keep their investments past the 1st of the year? So there will be a run on the markets come December every year.

This is how you disincentivise investment,

 

[DarkHorseRacing]

I’ll vote for her if she forgives my college debt that I paid off myself 20 years ago. Just send me the check to reimburse me!

Oh wait, I’m white, I’m exempt from that govt handout. N/m, still voting for Trump.

 

[92562]

On people with income and assets totaling over $100M.

I don't think anybody here has to worry about it, but it's still bullshit along with the rest of her tax "strategies."

That is true but you know if implemented there will eventually be a percentage for the rest of us. It is theft, plain and simple.

 

[mesquito_creek]

I realize that this is just “rage politics” click bait. But if you ever had or routinely pay capital gains, think about it this way:

Currently the max rate on realized gains is 20%, so such a policy on unrealized gains for 100 millionaires would only force them to realize gains and take the 20% rate.

Now more importantly, the Medicare sur tax on cap gains is 3.8 percent (thanks Obamacare) which would still make the 100 millionaire pay 23.8% to beat the 25% rate.

What you should be fighting for is dropping the 3.8%, because that actually affects married couple with AGI over 250k.

Have you heard either Trump or any dems propose dropping the Medicare sure tax on cap gains?? … no you haven’t. So don’t get too worried 100 millionaire is going broke quite yet with the totally devoid of tax practically proposal during the election season.

 

[Wizard29]

That is true but you know if implemented there will eventually be a percentage for the rest of us. It is theft, plain and simple.

I agree. This is just a starting point. Over time that $100M number will go down to $50M, then $10M, then $1M and suddenly the middle class with homes over $1M now have to pay additional taxes because their home increased in value.

A question that has already been asked here, but is a very good one...What about unrealized losses when an asset loses value after having been taxed previously for an unrealized gain? Is there a refund of any sort? Surely not.

The people who propose this kind of stuff are absolute morons and just don't think it through. All Kamala is doing is making promises she knows she won't be able to keep in the hopes they'll get her elected.

 

[mesquito_creek]

I agree. This is just a starting point. Over time that $100M number will go down to $50M, then $10M, then $1M and suddenly the middle class with homes over $1M now have to pay additional taxes because their home increased in value.

A question that has already been asked here, but is a very good one...What about unrealized losses when an asset loses value after having been taxed previously for an unrealized gain? Is there a refund of any sort? Surely not.

The people who propose this kind of stuff are absolute morons and just don't think it through. All Kamala is doing is making promises she knows she won't be able to keep in the hopes they'll get her

I agree. It’s all smoke and mirrors… and since all tax law originates in the house, no president can tax or not tax anyone. The republicans need to hold the house first and foremost. People focus 99% on the president who only pulls 33% of the levers.

President Trumps tax cuts were great, but didn’t include elimination of the 3.8% surtax on cap gains and dividends, which probably hit allot of people here. The trump cuts were still a net positive, but man that 3.8 can hurt!

 

[2Driver]

They are all pandering points for the ignorant masses to vote for her.

Grocery store billionaires gouging the middle class causing climate change for the underserved communities of color.

 

[mesquito_creek]

BTW… all of us regular folks already pay taxes on unrealized gains, no matter what you make. It’s called “RMD”, required minimum distribution at age 72.

 

[Havasu blue label]

On people with income and assets totaling over $100M.

I don't think anybody here has to worry about it, but it's still bullshit along with the rest of her tax "strategies."

He didn’t read that part

 

[shintoooo]

Let’s be honest though, there is price gouging. Fuck this fucking fucks.

 

[Sleek-Jet]

Let’s be honest though, there is price gouging. Fuck this fucking fucks.

I'd rather live in a world where there is price gouging than the alternative.

 

[TeamGreene]

Let’s be honest though, there is price gouging. Fuck this fucking fucks.

All the liberals whining about price gouging then they shop at Whole Foods.

 

[2Driver]

BTW… all of us regular folks already pay taxes on unrealized gains, no matter what you make. It’s called “RMD”, required minimum distribution at age 72.

eh, not really the same, but they are forcing you to withdrawal a little bit of IRA money and claim it as income.

If you can afford it let your regular investments grow and put it in your will. It will reset to current cost basis for the person getting it….zero gain. I bet they are thinking of doing away with that too.

Democrats are all about regs, penalties and flogging Americans.

 

[DRYHEAT]

Let’s be honest though, there is price gouging. Fuck this fucking fucks.

Fucking a right! Have you seen the price of a custom boat lately?

 

[DWC]

Kroger and Albertsons actual “gouging”

 

[mesquito_creek]

eh, not really the same, but they are forcing you to withdrawal a little bit of IRA money and claim it as income.

If you can afford it let your regular investments grow and put it in your will. It will reset to current cost basis for the person getting it….zero gain. I bet they are thinking of doing away with that too.

Democrats are all about regs, penalties and flogging Americans.

I agree with the sentiment, but “a little bit” is dependent on how little or much you have afforded to save. That distribution will force you into higher tax brackets, increase your Medicare premiums and take ~40k of your money per million you fought to save for 30-40 years of your working days. It’s the common man’s “Unrealized” gains…. With detailed tax planning in retirement, RMDs are enemy #1 for most…

 

[DRYHEAT]

It always starts out we’re going after the millionaires and billionaires, eventually it trickles down to all of us.

RDP’s new motto- “go be rich somewhere else”.

 

[Not So Fast]

If these 2 iDIOTS get elected then kiss this country goodbye, as we know it, WISE THE FUK UP FOLKS, PLEASE FOR OUR COUNTRYS SAKE!!!!!!!!!!!!!!!!!!!!!!!
And Im not taling about Trump & Vance, its the other 2 fuk wads, how anyone could vote for these 2 assbites in beyond me, but they will just watch

 

[DRYHEAT]

If these 2 iDIOTS get elected then kiss this country goodbye, as we know it, WISE THE FUK UP FOLKS, PLEASE FOR OUR COUNTRYS SAKE!!!!!!!!!!!!!!!!!!!!!!!
And Im not taling about Trump & Vance, its the other 2 fuk wads, how anyone could vote for these 2 assbites in beyond me, but they will just watch

“But, but, they’ll give me free stuff pay off my student loan and let me kill my baby”.

 

[2Driver]

I agree with the sentiment, but “a little bit” is dependent on how little or much you have afforded to save. That distribution will force you into higher tax brackets, increase your Medicare premiums and take ~40k of your money per million you fought to save for 30-40 years of your working days. It’s the common man’s “Unrealized” gains…. With detailed tax planning in retirement, RMDs are enemy #1 for most…

Well, I just learned something. I thought this RMD thing was a fixed number. I just did the calculation for my wife and I and had no idea it was this much. quite a burden.

 

[DRYHEAT]

Well, I just learned something. I thought this RMD thing was a fixed number. I just did the calculation for my wife and I and had no idea it was this much. quite a burden.

Yep, goes up every year. It’s the governments money and they want it now! Don’t you dare try to pass it down to your kids.

 

[boatpi]

And they want to jack the corporate tax by another 8% who do you think it’s going to pay for that? Biden gave away so much money we have so much debt. This is what the Democrats have to do never saw tax that they did not like.

 

[TPC]

Leninist you’re either a victim or a liar.

 

[2Driver]

LOL

 

[Flatsix66]

Even worse she is proposing 44.5% long term cap gains tax for everyone. If you sold some old stock in California you would pay a total of 58% tax. It pays to be poor.

 

[mesquito_creek]

Well, I just learned something. I thought this RMD thing was a fixed number. I just did the calculation for my wife and I and had no idea it was this much. quite a burden.

Baller… congrats

 

[TPC]

Guido's take worth considering:

 

[Tireman]

On people with income and assets totaling over $100M.

I don't think anybody here has to worry about it, but it's still bullshit along with the rest of her tax "strategies."

Slippery slope my friend

 

[Sleek-Jet]

That is called backroom politics, and has been on full display to much applause and admiration this political season.

 

[Big B Hova]

Awesome

View attachment 1419523

CPA's at the polls like "hmm taxes = filings"

 

[2Driver]

Baller… congrats

Ha, yeah I just thought it was a set $3,500 for some stupid reason.….Wake up call for me, good thing Im 8 years out still. LOL Baller? and who lives on a yacht on Lake Powell for weeks on end

 

[92562]

He didn’t read that part

Post #17.

 

[Racey]

Harris' economic plan includes a 25% tax on unrealized gains!!!

Wall Street Labels Kamala Harris' Proposed Tax On Unrealized Gains As 'Dumb' Move: 'Opposite Of Creating Incentives To Be Long-Term Oriented' - SPDR S&P 500 (ARCA:SPY)

Democratic presidential candidate Kamala Harris is widely expected to continue the policies of President Joe Biden’s administration, where she has played a key role.

www.benzinga.com

This will help spur investment

 

[JDKRXW]

Guido's take worth considering:

Guess there's a first time for everything.

I literally can't stand that asshole - but he's right in this case.

 

[jetboatperformance]

Marked safe here from making a million

 

[gqchris]

On people with income and assets totaling over $100M.

I don't think anybody here has to worry about it, but it's still bullshit along with the rest of her tax "strategies."

This is in @C-Ya 's wheelhouse!