Do you support taxing unrealized gains (Poll)

[Marener]

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.

Americans who pay nothing.

Like Trump?

 

[Independent thinker]

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.

Several countries in Europe tried wealth taxes in various forms and every single country but one dropped them because they did not work and the one remaining country still doing it realizes they don't work either but hasn't stopped them. What the left don't understand is when you tax the wealthy, the wealthy just pass it on to everyone.

 

[Marener]

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

Business losses are carried forward on future gains.

 

[marvin martian]

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.

ALL of the DemoKKKrats' policies are designed to turn middle class people into poor people, and super rich people into ultra rich people.

 

[Couchpotato]

Business losses are carried forward on future gains.

But the Government will have still taken taxes from money I never earned, and that only applies to a business, not an individual investor (as far as I'm aware anyway) What you are saying is that if I see "unrealized income" it would be taxed, and then if I never realize that income I'm just fucked.

 

[Couchpotato]

Americans who pay nothing.

Like Trump?

Did Trump write the tax code? Or did people like Harris and Biden do that? Remind me who writes the tax code and which of those people were in the body that does that...

 

[Marener]

Did Trump write the tax code? Or did people like Harris and Biden do that? Remind me who writes the tax code and which of those people were in the body that does that...

He wrote some of it. He also abuses the tax code in ways that the IRS doesn’t want to deal with.

You know who doesn’t write the tax code? The 47% of Americans who don’t pay income tax that this other conservative poster was attacking despite doing nothing wrong.

 

[Couchpotato]

He wrote some of it. He also abuses the tax code in ways that the IRS doesn’t want to deal with.

When did Trump write any of the tax code? He's never served in the Senate or House.

You know who doesn’t write the tax code? The 47% of Americans who don’t pay income tax that this other conservative poster was attacking despite doing nothing wrong.

What does that have to do with me or Trump or anyone else for that matter? Maybe we should adopt the tax systems like Denmark and Norway. They are beacons of how it supposed to done right?