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Well, I thought you were advocating for changing the law, and doing away with cap gains...so it appears you aren't necessarily in favor of considering everything income then...Capital Gains on houses are not figured that way. Simplified you can roll C.G. into your next house.
Yeah you dumb piece of shit I realize that Bidens proposal goes through Congress.he doesn't have that authority. sorry. it must go through congress.
Zero chance I break through. We are mainly dealing with mentally ill people on the right who have lost touch with reality. I just show up here to show people how dumb they are.You're trying to discuss economics with people who have received their education and training from Limbaugh, Hannity and Carlson.
I do admire your patience, but I'm sure you're not hoping to break through.
It can be frustrating.Zero chance I break through. We are mainly dealing with mentally ill people on the right who have lost touch with reality. I just show up here to show people how dumb they are.
You guys are wasting your energy. Our corrupt criminal government is never going to pay back $30 trillion and counting. It’s all funny money now.I thought the dems were going to exempt small biz and farms. I know someone who owns an insane about of rural land that is only marginally productive in earnings, but it's got a low property tax because of that ..... and the owner could cash out but now he won't.
But the problem with cap gains, macroeconomically, back in the 70s was people not selling long term investments. People held onto marginal investments rather than looking for more growth. Both centrist dems and gopers knew it was bad. My fear is that people like AOC and Red Bernie are ... nuts.
Capital gains from Primary residences sold and put into a new house aren't really considered capital gains...that's the main loophole I know of.Well, I thought you were advocating for changing the law, and doing away with cap gains...so it appears you aren't necessarily in favor of considering everything income then...
Also the home owner gain cap rollover rule was abolished by Bill Clinton in 1997. The rule that replaced it, The new law, allows married couples to exclude up to $500K permenantly, single folks $250K of cap gains...but under your new rule, there is no cap gains....so...
What other loopholes are you going to include?
You guys are wasting your energy. Our corrupt criminal government is never going to pay back $30 trillion and counting. It’s all funny money now.
What I don’t understand is why Americans aren’t demanding their government provide more services for the people, since it’s spending so much. We have this massive growing debt yet Americans aren’t provided healthcare. No free education. No living wage. No job protections. No housing for the homeless.
It’s ludicrous and even mind blowing when you look at what our corrupt criminal government has done to protect and enrich the wealthy. They are the ones who have benefited the most from this massive debt.
Not really. You just have to set your expectations at the lowest level possible. Although I did break through to 1 person on here they actually thanked me for providing them with info that they didnt know. But that is about a 1 in 300 shot.It can be frustrating.
I know you would. You're an arrogant, ignorant Trumpster.
today they are, considered cap gains. There is just a law exempting the first 250k for single folks. and 500k for married folksCapital gains from Primary residences sold and put into a new house aren't really considered capital gains...that's the main loophole I know of.
The corporations that a mutual fund is invested in do pay corporate tax. That’s actually double taxation. The mutual fund itself is not paying taxes.The corporate entities that you hold shares of do pay taxes as a regular business expense
huh? why would a mutual fund pay taxes? it’s merely a fund. When you sell the items in the fund, then you are required to pay taxes.The corporations that a mutual fund is invested in do pay corporate tax. That’s actually double taxation. The mutual fund itself is not paying taxes.
I’d get rid of that.
No corporate tax. Dividends and capital gains are regular income.
It can be frustrating.
Dunno. Another poster is kinda mixed up.huh? why would a mutual fund pay taxes? it’s merely a fund. When you sell the items in the fund, then you are required to pay taxes.
So you believe double taxation is not right? Because at least one group of Americans I know get taxed double.All income should be taxed at the exact same rate, whatever percentage that is decided to be. Manual labor or Capital Gains should be the same.
It's called a "distribution". The mutual fund has various distributions that are passed on to the investor then the investor pays the taxes. Read about it here Mutual Funds and Taxes - Fidelity.The corporations that a mutual fund is invested in do pay corporate tax. That’s actually double taxation. The mutual fund itself is not paying taxes.
I’d get rid of that.
No corporate tax. Dividends and capital gains are regular income.
In your world, sure.We can't all be as smart as you folks on the left but evidently, we can make more informed and better decisions with our money. Sure is a strange dichotomy.
Uh oh....looks like the guy you responded to is about to brag about how rich he is on an internet message board.In your world, sure.
Corporations pay taxes on their profits. They turn some of this post-tax money into dividends. The dividends go to the investors. The investors pay taxes on the dividends.It's called a "distribution". The mutual fund has various distributions that are passed on to the investor then the investor pays the taxes. Read about it here Mutual Funds and Taxes - Fidelity.
Uh how exactly is a corporation being double taxed? Corps are supposed to pay taxes on what they make. Individual investors then separately make profits off of what they invest. Who is getting double taxed??????
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