44 percent capital gains tax??? Bwahhhhhhhhhahhhhhhhahhhhhhhh

[justoffal]

Oh yeah you go with that and see where it gets you. Even if you win the White House 2 years after that you will be avalanched out of office.... The Senate and the house will both flip hard red.
But do go ahead and commit suicide.

 

[Muhammed]

Who is proposing a 44% capital gains tax? Got a link to the bill?

 

[TroglocratsRdumb]

The greedy corrupt Democrats are implementing "owning the means of production" through taxes and regulations.
It is a different way to do the same thing.
If you cut to the essence of Left-Wing economics, it just stealing from the productive people.

 

[Fort Fun Indiana]

Oh yeah you go with that and see where it gets you. Even if you win the White House 2 years after that you will be avalanched out of office.... The Senate and the house will both flip hard red.
But do go ahead and commit suicide.

Why didn't the world end when it was increased to thirty five percent?

 

[bendog]

Oh yeah you go with that and see where it gets you. Even if you win the White House 2 years after that you will be avalanched out of office.... The Senate and the house will both flip hard red.
But do go ahead and commit suicide.

The dems will probably lose the senate, and even if they control both Houses and the WH, they tried to raise taxes on the 1% last time, and failed

We now have two parties that can spend but not tax ... unless it's tariffs, apparently.

 

[justoffal]

Why didn't the world end when it was thirty five percent?

Well....to your point....we got there somewhat gradually as I recall. Even then it only got passed along downline to individual tax payers.

Now I will admit that lowering it didn't do much for the average American because no system is perfect and capitalists are just plain greedy.... however unless you can find another way to create jobs....and the government AINT that way it's what got. To date our GDP towers over everything else and I just don't believe China's numbers.

Corporate America is like a bag full of wildcats. In many ways it's a system that has no match but in many other ways it's a system that's very hard to control probably impossible in fact.

 

[Fort Fun Indiana]

Well....to your point....we got there somewhat gradually as I recall. Even then it only got passed along downline to individual tax payers.

Now I will admit that lowering it didn't do much for the average American because no system is perfect and capitalists are just plain greedy.... however unless you can find another way to create jobs....and the government AINT that way it's what got. To date our GDP towers over everything else and I just don't believe China's numbers.

Corporate America is like a bag full of wildcats. In many ways it's a system that has no match but in many other ways it's a system that's very hard to control probably impossible in fact.

44 is a proposed top marginal rate.

Biden Capital Gains Proposal Of 44.6% Comes With Caveats And Asterisks

The number being bandied about is 44.6%, which would be the highest formal federal capital gains rate since its inception.

www.forbes.com

 

[bendog]

I'm not sold on capital gains actually doing anything positive for the economy, or that people would behave any differently if they were just taxed on cap gains at the same level they pay income tax.

I do think we should treat venture capital a bit more generously. Not that levying a lesser rate is necessarily a good idea, because we could just let "true" investors to generously deduct losses from taxes owed.

But I tried to post yesterday that I don't see any reason to reward with a tax break some guy worth 100 million who happens sell shares of ExxonMobile that his father left to him.

 

[task0778]

I'm not sold on capital gains actually doing anything positive for the economy, or that people would behave any differently if they were just taxed on cap gains at the same level they pay income tax.

I do think we should treat venture capital a bit more generously. Not that levying a lesser rate is necessarily a good idea, because we could just let "true" investors to generously deduct losses from taxes owed.

I thought investors paid capital gains tax on venture capital, no? The whole idea behind a lower capital gains tax rate is to incentivize investments into startups and business expansions. If you don't see the positives in that for the economy then maybe you don't want to see it. Investors are going to look at the risk vs reward for any investment, and part of that calculation includes taxes. So, by raising the capital gains tax rate you are disincentivizing investments and that ain't good for the economy.

 

[justoffal]

I'm not sold on capital gains actually doing anything positive for the economy, or that people would behave any differently if they were just taxed on cap gains at the same level they pay income tax.

I do think we should treat venture capital a bit more generously. Not that levying a lesser rate is necessarily a good idea, because we could just let "true" investors to generously deduct losses from taxes owed.

But I tried to post yesterday that I don't see any reason to reward with a tax break some guy worth 100 million who happens sell shares of ExxonMobile that his father left to him.

No argument

 

[bendog]

I thought investors paid capital gains tax on venture capital, no? The whole idea behind a lower capital gains tax rate is to incentivize investments into startups and business expansions. If you don't see the positives in that for the economy then maybe you don't want to see it. Investors are going to look at the risk vs reward for any investment, and part of that calculation includes taxes. So, by raising the capital gains tax rate you are disincentivizing investments and that ain't good for the economy.

Yes. I just don't see why we don't limit cap gains to true venture investments. We learned with Carter and Reagan that simply giving people a tax benefit to hold onto an investment is not a positive for econ growth.

Taxes are never fair. All we can do is try not to spend as much and when we do tax, do it in the least harmful, or most beneficial, way.

 

[justoffal]

Yes. I just don't see why we don't limit cap gains to true venture investments. We learned with Carter and Reagan that simply giving people a tax benefit to hold onto an investment is not a positive for econ growth.

Taxes are never fair. All we can do is try not to spend as much and when we do tax, do it in the least harmful, or most beneficial, way.

That's about it..... If you find a better way please call Washington DC.

 

[task0778]

We learned with Carter and Reagan that simply giving people a tax benefit to hold onto an investment is not a positive for econ growth.

Is that so? I think holding onto an investment creates stability in the marketplace. Take that away and you disincentivize long-term investments, thereby increasing some instability that would be a negative influence. And I don't see the tax benefit because you didn't increase your actual income when you held onto your investment.

 

[bendog]

Is that so? I think holding onto an investment creates stability in the marketplace. Take that away and you disincentivize long-term investments, thereby increasing some instability that would be a negative influence. And I don't see the tax benefit because you didn't increase your actual income when you held onto your investment.

It is economically inefficient to reward with a tax break an investment that did not earn anymore than would have been gained by selling it, paying non cap gains tax, and moving to a more better investment in terms of yearly gains.

 

[task0778]

We learned with Carter and Reagan that simply giving people a tax benefit to hold onto an investment is not a positive for econ growth.

Let's go into this a bit further, talking about taxing unrealized gains:

For a tax like this to work, thousands of taxpayers would need to evaluate the value of all of their assets every single year. That raises the question: How in the world would the IRS—which is already understaffed and overburdened as it is—be able to audit all those filings?

Sure, investments like stocks and mutual funds are simple because they have a set market price. But things get a lot squishier when we start talking about things like rental properties and businesses, which are the main source of wealth for many high-net-worth individuals. Those types of assets are much harder to put a price tag on. And we haven’t even talked about collectibles, jewelry and other nonliquid assets that are also part of your net worth. (If you’re curious, you can use our net worth calculator to help you figure out what your net worth is!)

Plus, some folks won’t have the cash on hand to pay the millions of dollars in taxes they might owe on the unrealized gains of their assets, which would force them to sell some of those assets in order to pay the tax bill. And what happens if those assets lose value in another year? Will they be entitled to a refund from the federal government?

That’s one of the many reasons why so many European countries have abandoned similar taxes—the administrative headaches just aren’t worth it.

Is an Unrealized Capital Gains Tax Coming?

President Biden’s proposal to tax unrealized capital gains could spark a debate in Congress and legal challenges in the years to come.

www.ramseysolutions.com

 

[bendog]

Let's go into this a bit further, talking about taxing unrealized gains:

For a tax like this to work, thousands of taxpayers would need to evaluate the value of all of their assets every single year. That raises the question: How in the world would the IRS—which is already understaffed and overburdened as it is—be able to audit all those filings?

Sure, investments like stocks and mutual funds are simple because they have a set market price. But things get a lot squishier when we start talking about things like rental properties and businesses, which are the main source of wealth for many high-net-worth individuals. Those types of assets are much harder to put a price tag on. And we haven’t even talked about collectibles, jewelry and other nonliquid assets that are also part of your net worth. (If you’re curious, you can use our net worth calculator to help you figure out what your net worth is!)

Plus, some folks won’t have the cash on hand to pay the millions of dollars in taxes they might owe on the unrealized gains of their assets, which would force them to sell some of those assets in order to pay the tax bill. And what happens if those assets lose value in another year? Will they be entitled to a refund from the federal government?

That’s one of the many reasons why so many European countries have abandoned similar taxes—the administrative headaches just aren’t worth it.

Is an Unrealized Capital Gains Tax Coming?

President Biden’s proposal to tax unrealized capital gains could spark a debate in Congress and legal challenges in the years to come.

www.ramseysolutions.com

you are having a conversation with yourself because you sure as shit weren't responding to any post I made.

Goodbye