Democrats plan to tax "unrealized gains" with their sweeping tax proposal in 2025.

[Hector12]

That's because you envy your betters.

It is because I know that what benefits the rich does not benefit most Americans.

 

[Hollie]

Pretty soon Democrats will charge you sales tax on things you could have bought but didn't.

“Unrealized purchases”?

 

[Hollie]

I believe the “tax the rich” frenzy ignore some basic facts.

Summary of the Latest Federal Income Tax Data, 2024 Update

The Tax Cuts and Jobs Act (TCJA) made many significant, but temporary, changes to the individual income tax code to lower tax rates, widen brackets, increase the standard deduction and child tax credit, and more.

taxfoundation.org

• In 2021, taxpayers filed 153.6 million tax returns, reported earning more than $14.7 trillion in adjusted gross income (AGI), and paid nearly $2.2 trillion in individual income taxes.
• The average income tax rate in 2021 was 14.9 percent. The top 1 percent of taxpayers paid a 25.9 percent average rate, nearly eight times higher than the 3.3 percent average rate paid by the bottom half of taxpayers.
• The top 1 percent’s income share rose from 22.2 percent in 2020 to 26.3 percent in 2021 and its share of federal income taxes paid rose from 42.3 percent to 45.8 percent.
• The top 50 percent of all taxpayers paid 97.7 percent of all federal individual income taxes, while the bottom 50 percent paid the remaining 2.3 percent.

Emphasis added by me.

 

[Jarlaxle]

It is because I know that what benefits the rich does not benefit most Americans.

No, you envy your betters. You're perfectly willing to crash the stock market over it.

 

[Hector12]

No, you envy your betters. You're perfectly willing to crash the stock market over it.

I see little moral significance in the distribution of wealth and income. Honesty, hard work and decency will not make one rich. Many rich people, like Trump, have none of those characteristics.

 

[Jarlaxle]

I see little moral significance in the distribution of wealth and income. Honesty, hard work and decency will not make one rich. Many rich people, like Trump, have none of those characteristics.

And yet, you want to end retirement savings. You want to crater the economy.

 

[Hector12]

And yet, you want to end retirement savings. You want to crater the economy.

I like the way the stock market crash of 1929 was blamed on the rich, the business community, and the Republican Party, and led to the administration of Franklin Roosevelt and the New Deal, I like the way it led to much higher taxes for rich people and corporations.

Roosevelt blamed the rich for the Great Depression, raised their taxes, and encouraged their employees to form and join labor unions. It was great fun, and it caused Roosevelt to be reelected three times.

I do not want an economic downturn that can be blamed on the Democrat Party. Jimmy Carter was not responsible for the inflation of 1979 and 1980, but it was blamed on him, and led to the administration of Ronald Reagan, and tax cuts for the rich.

 

[Jarlaxle]

I like the way the stock market crash of 1929 was blamed on the rich, the business community, and the Republican Party, and led to the administration of Franklin Roosevelt and the New Deal, I like the way it led to much higher taxes for rich people and corporations.

Roosevelt blamed the rich for the Great Depression, raised their taxes, and encouraged their employees to form and join labor unions. It was great fun, and it caused Roosevelt to be reelected three times.

I do not want an economic downturn that can be blamed on the Democrat Party. Jimmy Carter was not responsible for the inflation of 1979 and 1980, but it was blamed on him, and led to the administration of Ronald Reagan, and tax cuts for the rich.
(stupid image removed)

No, you want to crater the economy.

Either you're not intelligent enough to realize that or you are evil on the level of Marx.

 

[Skylar]

The GOP better keep the House, otherwise the Democrats will jam through the massive tax plan in 2025. Of course they use the same cover story that it will ONLY be taxes on the "very wealthy" and "corporations". If you are dumb enough to believe that, you deserve to lose a few more thousand in income to the Feds.

Senate Finance Democrats look to raise revenue for 2025 tax cliff - Roll Call

Panel Democrats left a meeting aligned on the need for wealthy individuals and multinational corporations to pay more.

rollcall.com

So if you're ignoring your own source, where are you getting the claim of a tax on unrealized gains?

You seem to be citing and rejecting the same source on the same topic.

 

[Hector12]

No, you want to crater the economy.

Either you're not intelligent enough to realize that or you are evil on the level of Marx.

Karl Marx had two valid insights. He was mistaken about everything else. He did not advocate the totalitarian methods used in his name during the twentieth century.

I am confident he would have condemned them.

He did inspire them, so he is not wholly innocent. During the twentieth century millions of people were not killed it he name of John Stuart Mill.

 

[beautress]

How come there is no one on either side of the aisle who ever say "we need to cut spending"?

This is the destruction of the Western hemisphere, spending and becoming bloated like the old Soviet system. The end result doesn't take a rocket scientist to predict.

Lowering taxes in the USA tends to give private concerns a leg up to make money and spend it. IOW, it recharges the American economy to whoever wants to profit from stimulating economy. It also puts the little guy with pocket money from the lower tax.

I see nothing but net in the American basketball game of prosperity.
I love our country, and it is headed for prosperity that will feed our children for decades to come.

 

[Hector12]

Lowering taxes in the USA tends to give private concerns a leg up to make money and spend it. IOW, it recharges the American economy to whoever wants to profit from stimulating economy. It also puts the little guy with pocket money from the lower tax.

I see nothing but net in the American basketball game of prosperity.
I love our country, and it is headed for prosperity that will feed our children for decades to come.

Lowering taxes raises the national debt.

 

[gtopa1]

So, if you are a billionaire, you have to pay taxes on unrealized gains. I could be down with that, but not taxed as long term capital gains. WTF--market to market valuations, yearly, are you flipping kidding me. And yes, carryback and carryforward provisions, which only makes matters worse. Collect billion in taxes from billionaires on unrealized capital gains, market tanks, you got to pay flippin refunds. I mean I am thinking between 2.5% and 5%, Zakat.

I love the idea of taxing the family home for unrealised gains EVERY YEAR!!!! What could possibly be wrong with that???

Greg

 

[IM2]

Entire marxist goal of Obama-Harris is to destroy the entire American economy.

They aim to cause enough chaos for a one world economic system.

There is no Obama-Harris.

 

[IM2]

How come there is no one on either side of the aisle who ever say "we need to cut spending"?

This is the destruction of the Western hemisphere, spending and becoming bloated like the old Soviet system. The end result doesn't take a rocket scientist to predict.

The probem is that Ametica cuts its own throat because of discrimination. You and most on the right are too null and void upstairs to recognize the negative economic impact of racism. Or sexism for that matter. Ending these two problems will insure that America has more than enough money to take care of its needs.

 

[shockedcanadian]

The probem is that Ametica cuts its own throat because of discrimination. You and most on the right are too null and void upstairs to recognize the negative economic impact of racism. Or sexism for that matter. Ending these two problems will insure that America has more than enough money to take care of its needs.

I'm a libertarian, so what mainstream beliefs do I most align with?

 

[Hector12]

Entire marxist goal of Obama-Harris is to destroy the entire American economy.

They aim to cause enough chaos for a one world economic system.

The destroyers of the economy are the Congressional Republicans and Republican presidents, who tax cuts for the rich and increases in military spending have caused the national debt to grow to 129% of the gross domestic product at the end of the Trump administration. The corresponding percentage at the end of the Carter administration was 32%.

U.S. National Debt by Year

 

[Hector12]

The probem is that Ametica cuts its own throat because of discrimination. You and most on the right are too null and void upstairs to recognize the negative economic impact of racism. Or sexism for that matter. Ending these two problems will insure that America has more than enough money to take care of its needs.

Negroes are discriminated against. They are discriminated in favor of with affirmative action programs. Negroes are not pulling their weight because they cannot. Their average IQ is too low. They also have a murder rate nearly eight times the white crime rate.

Homicides with white victims and black offenders were more than 2.3 times more common than the opposite (566 vs 246). Including homicide victims in 2019 where the race was unknown, 53.7% were black or African-American, 41.6% were white, 3% were of other races, and 1.7% were of unknown races.[49][50]

The per-capita offending [murder] rate for African-Americans was roughly eight times higher than that of whites,

Race and crime in the United States - Wikipedia

en.wikipedia.org

 

[Hollie]

The probem is that Ametica cuts its own throat because of discrimination. You and most on the right are too null and void upstairs to recognize the negative economic impact of racism. Or sexism for that matter. Ending these two problems will insure that America has more than enough money to take care of its needs.

People like you cut your own throats because you whine about discrimination while exploiting quotas and DIE hire practices to fill roles you’re not qualified for. When you fail, you screech out “ discrimination”.

 

[Winston]

I love the idea of taxing the family home for unrealised gains EVERY YEAR!!!! What could possibly be wrong with that???

Greg

It happens every year. Does the county wait and let you pay your property tax after you sell your home?