Do you support taxing unrealized gains (Poll)

[kyzr]

If democrats win in November, the IRS will be going after unrealized gains. Is this even constitutional?

Unrealized Gain Tax—A Coming Sea Change in FY2025 Budget Proposal?

Among the most striking initiatives in the FY2025 Budget Proposal is a set of proposals taxing unrealized gains—a concept generally absent in tax frameworks due to val...

www.forbes.com

The policies proposed in the FY2025 budget target extremely high-net-worth individuals and entities, attempting to ensure wealth accumulation through investment is looped in to the taxable base—even when those investments are not sold. The general principle behind equitable taxation is that a broad base is to be preferred over higher rates—in other words, increasing tax revenue without imposing additional burdens on middle and lower income brackets, merely reshuffling the deck so higher income earners are taxed under existing rate structures.
Among the proposals is a plan to tax the unrealized gain on a trust, partnership or other non-corporate entity that has not been subject to a recognition event in the previous 90 years—something of a one time tax true-up for complex tax structures that are and have been growing untaxed for generations.

 

[jbrownson0831]

If democrats win in November, the IRS will be going after unrealized gains. Is this even constitutional?

Unrealized Gain Tax—A Coming Sea Change in FY2025 Budget Proposal?

Among the most striking initiatives in the FY2025 Budget Proposal is a set of proposals taxing unrealized gains—a concept generally absent in tax frameworks due to val...

www.forbes.com

The policies proposed in the FY2025 budget target extremely high-net-worth individuals and entities, attempting to ensure wealth accumulation through investment is looped in to the taxable base—even when those investments are not sold. The general principle behind equitable taxation is that a broad base is to be preferred over higher rates—in other words, increasing tax revenue without imposing additional burdens on middle and lower income brackets, merely reshuffling the deck so higher income earners are taxed under existing rate structures.
Among the proposals is a plan to tax the unrealized gain on a trust, partnership or other non-corporate entity that has not been subject to a recognition event in the previous 90 years—something of a one time tax true-up for complex tax structures that are and have been growing untaxed for generations.

What's the purpose? Every time the dims try to go after the "rich" (which is really themselves) to get more tax money, the rich discover more loopholes to avoid payment. And it ends up screwing guess who? Not the welfare dregs, the working middle class.

 

[Crepitus]

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

Just because you haven't turned it into cash doesn't mean you didn't make money.

 

[1srelluc]

Add to that the 6% increase the Marxist dems want on corporate taxes.

So that would be a big no.

All that means is price increases for the middle class, thus a tax by another name so the Marxists can give it to the most undeserving. Fuck them.

 

[Fang]

I hate the idea. It really makes no sense. If I buy a piece of real estate at my current budget that isn't worth that much, then I may not have the money to pay the unrealized gain if for some reason that property skyrockets in value. Yea, I made a good choice. But why should I be penalized for good decisions? It really favors the rich who can afford this kind of tax.

 

[Lisa558]

How could it even be done?

You report what your holdings are on Dec 31 of last year (say $800,000) and then this year (12%, so it’s now $900,000), and you have to pay taxes on an additional $100,000?

What if your salary is $100,000? You have to pay taxes on $200,000?

Great way to wipe out the savings of successful people, discourage investment, and make more people dependent on the Democrat Socialist Regime - which is what this is all about.

 

[Lisa558]

Add to that the 6% increase the Marxist dems want on corporate taxes.

So that would be a big no.

All that means is price increases for the middle class, thus a tax by another name so the Marxists can give it to the most undeserving. Fuck them.

The anti-American socialists are going to tax the middle class into oblivion until they have 90% of Americans dependent on a monthly government stipend.

 

[Lisa558]

If democrats win in November, the IRS will be going after unrealized gains. Is this even constitutional?

Unrealized Gain Tax—A Coming Sea Change in FY2025 Budget Proposal?

Among the most striking initiatives in the FY2025 Budget Proposal is a set of proposals taxing unrealized gains—a concept generally absent in tax frameworks due to val...

www.forbes.com

The policies proposed in the FY2025 budget target extremely high-net-worth individuals and entities, attempting to ensure wealth accumulation through investment is looped in to the taxable base—even when those investments are not sold. The general principle behind equitable taxation is that a broad base is to be preferred over higher rates—in other words, increasing tax revenue without imposing additional burdens on middle and lower income brackets, merely reshuffling the deck so higher income earners are taxed under existing rate structures.
Among the proposals is a plan to tax the unrealized gain on a trust, partnership or other non-corporate entity that has not been subject to a recognition event in the previous 90 years—something of a one time tax true-up for complex tax structures that are and have been growing untaxed for generations.

If a broad base is preferable, then why are the federal taxes going up on those who already pay - and not on the 50% who don’t contribute at all?

I say every adult over 18 (who is not disabled) pay a minimum of 5% into the federal coffers.

 

[martybegan]

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

Just because you haven't turned it into cash doesn't mean you didn't make money.

The problem is that the person may not have the cash to cover the increase in value of a non liquid asset.

That means they have to liquidate some of their assets, then making realized gains that would then be taxes twice?

Also, do you understand what happens to an economy when a bunch of people have to liquidate assets all at once?

Did 2008 not teach you anything?

 

[LibtardGFY]

I hate the idea. It really makes no sense. If I buy a piece of real estate at my current budget that isn't worth that much, then I may not have the money to pay the unrealized gain if for some reason that property skyrockets in value. Yea, I made a good choice. But why should I be penalized for good decisions? It really favors the rich who can afford this kind of tax.

Rush Limbaugh used to say that "If you work hard and make correct decisions and or take risks, and become successful, you are punished for your efforts through tax" "But, if you dont apply yourself, have children out of wedlock, do drugs. work minimum wage jobs, you are rewarded via tax money"

Leftist are hammering this strategy home at the DNC. After 3.5 years of Brandon not much has changed, so vote Democrat so we can fix it. After 8 years of Hussein Obama, people are still in despair and need to vote Democrat for equality. Its the same song and dance every 4 years.

 

[kyzr]

The problem is that the person may not have the cash to cover the increase in value of a non liquid asset.
That means they have to liquidate some of their assets, then making realized gains that would then be taxes twice?
Also, do you understand what happens to an economy when a bunch of people have to liquidate assets all at once?
Did 2008 not teach you anything?

I hope they would exempt 401Ks, otherwise no one would ever be able to save for retirement.

Even if 401Ks are exempt, is real estate? Everyone would sell stocks and buy bonds. What about gold? Art? Move money off-shore to tax shelters?

No matter what democrats do to get tax revenue from the wealthy, Leona let the cat out of the bag: "Only little people pay taxes"

 

[kyzr]

Rush Limbaugh used to say that "If you work hard and make correct decisions and or take risks, and become successful, you are punished for your efforts through tax" "But, if you dont apply yourself, have children out of wedlock, do drugs. work minimum wage jobs, you are rewarded via tax money"
Leftist are hammering this strategy home at the DNC. After 3.5 years of Brandon not much has changed, so vote Democrat so we can fix it. After 8 years of Hussein Obama, people are still in despair and need to vote Democrat for equality. Its the same song and dance every 4 years.

When Bill Clinton was president I think there was a proposed law to limit Welfare to TWO YEARS?
Now it looks like most states allow a 5-year lifetime limit.

Welfare Time Limit by State 2024

worldpopulationreview.com

 

[candycorn]

How could it even be done?

You report what your holdings are on Dec 31 of last year (say $800,000) and then this year (12%, so it’s now $900,000), and you have to pay taxes on an additional $100,000?

What if your salary is $100,000? You have to pay taxes on $200,000?

Great way to wipe out the savings of successful people, discourage investment, and make more people dependent on the Democrat Socialist Regime - which is what this is all about.

It can’t.

The OP is lying.

 

[kyzr]

It can’t. The OP is lying.

Read the fucking link moron. If you watch financial channels instead of cartoons you'd understand, its real, it's Kamala's to explain.

 

[Nuthin' Fancy]

The Trump cult is confused, as usual.

The IRS isn't going to tax unrealised gains.
Because if you don't borrow against it, you're fine.

Lending complexity to the analysis, however, is the fact that unrealized gains can be used as collateral to borrow against—thereby making an unrealized gain in the interest in a given piece of property, potentially, an accession to wealth for a given taxpayer.

Let’s take a simple example: a billionaire holds shares in a given electric car manufacturing company. Since acquiring, either through purchase or as compensation, the given shares, they have appreciated in value significantly—let’s say from $1 per share to $1000 per share.

Since the nameless billionaire has not sold their shares, they have not realized any gain, and they owe no tax on their increased net worth. This seems just, as one can imagine, perhaps on a smaller scale, being in the shoes of said billionaire—you haven’t really made any additional money, you just have the potential to make money on a sale.

If you monetize the unrealized gain then you get taxed.

The Trump cult, as usual is twisting and lying.

 

[Lisa558]

The problem is that the person may not have the cash to cover the increase in value of a non liquid asset.

That means they have to liquidate some of their assets, then making realized gains that would then be taxes twice?

Also, do you understand what happens to an economy when a bunch of people have to liquidate assets all at once?

Did 2008 not teach you anything?

A good analogy would be being taxed on the annual increase in one’s home.

Let’s say an elderly couple bought their modest house in 1970 for $30,000. It is now worth $600,000 - and it increased in value in a “good” year by $100,000.

They now live in their paid-off house, on a combined SS payment of $4,000 a month - doable when there’s no house payment. All of a sudden they are going to owe money on a $100,000 unrealized gain.

These are the sort of proposals that Dems throw out all the time - not thinking them through, but knowing they “sound good” to their poorly informed useful idiots.

 

[Marener]

This is a pretty serious discussion and would require a lot of thought before anything is done.

But the point is that unrealized capital gains are being highly concentrated in the ultra wealthy and excluding these from the tax base results in higher taxes for the rest of us.

 

[DGS49]

Unrealized gains are money in the bank for the taxing authorities. They just want it now rather than later, because they CANNOT CONTROL THEIR FUCKING SPENDING, that is to say, their campaign to buy votes with tax dollars.

Taxing such gains makes likely the scenario where taxpayers would have to sell assets in order to pay taxes, which is stupid.

 

[Lisa558]

This is a pretty serious discussion and would require a lot of thought before anything is done.

But the point is that unrealized capital gains are being highly concentrated in the ultra wealthy and excluding these from the tax base results in higher taxes for the rest of us.

What about the half of all Americans who pay nothing at all? How about they pitch in instead of just enjoying all the benefits that America offers without paying in a cent, or actually taking money out? There really should be an Alternate Minimum Tax.

Besides, taxing the ultra-wealthy on unrealized gains will cause investments to take a dive, and kill the retirement funds of the middle class.

 

[Couchpotato]

This is a pretty serious discussion and would require a lot of thought before anything is done.

But the point is that unrealized capital gains are being highly concentrated in the ultra wealthy and excluding these from the tax base results in higher taxes for the rest of us.

is the Government going to pay individuals on an investment that loses money? If I buy a stock at 1 dollar and it goes up 1 million% I dont have any of that money, if the Government taxed me on that "unrealized gain" and then the next day it dropped back to 1 dollar is the Government going to refund those taxes?

In other words this is a stupid idea