MAGA caller says he likes Trump policies, but can't name 1 policy live on the air

[Marener]

No you didn't

Yep. It’s earlier in the thread.

 

[struth]

Yep. It’s earlier in the thread.

you link doesn't say that she is going away with cap gains tax, and reforming it. It doesn't say anything about the current cap gains tax, it only discusses her new tax idea on unrealized cap gains.

Did you not bother to read your link?

Analysis of Harris’s Billionaire Minimum Tax on Unrealized Capital Gains

In her campaign for president, VP Kamala Harris has embraced all the tax increases President Biden proposed in the White House FY 2025 budget—including a new idea that would require taxpayers with net wealth above $100 million to pay a minimum tax on their unrealized capital gains from assets...

taxfoundation.org

 

[Marener]

you link doesn't say that she is going away with cap gains tax, and reforming it. It doesn't say anything about the current cap gains tax, it only discusses her new tax idea on unrealized cap gains.

Did you not bother to read your link?

Analysis of Harris’s Billionaire Minimum Tax on Unrealized Capital Gains

In her campaign for president, VP Kamala Harris has embraced all the tax increases President Biden proposed in the White House FY 2025 budget—including a new idea that would require taxpayers with net wealth above $100 million to pay a minimum tax on their unrealized capital gains from assets...

taxfoundation.org

You didn’t read it.

From the link:
“The change means wealthy taxpayers would owe taxes on capital gains each year, even if the underlying asset had not been sold. Any amounts paid would be treated as prepayments of future capital gains tax liability.”

 

[struth]

You didn’t read it.

From the link:
“The change means wealthy taxpayers would owe taxes on capital gains each year, even if the underlying asset had not been sold. Any amounts paid would be treated as prepayments of future capital gains tax liability.”

I did, yes it's a new tax, not changing the old tax. They still owe the cap gains tax when it's sold, and they also pay every year on it, whatever that value is at that time, even if not sold.

The Govt isn't going to refund them if they end up selling it at a lost, and owe no cap gains.

 

[Marener]

I did, yes it's a new tax, not changing the old tax. They still owe the cap gains tax when it's sold, and they also pay every year on it, whatever that value is at that time, even if not sold.

The Govt isn't going to refund them if they end up selling it at a lost, and owe no cap gains.

Any amounts paid would be treated as prepayments of future capital gains tax liability

 

[struth]

Any amounts paid would be treated as prepayments of future capital gains tax liability

so is the money returned when they don't have a cap gains tax when they sell? If they sell at a lose?

 

[Marener]

so is the money returned when they don't have a cap gains tax when they sell? If they sell at a lose?

Yes. It's stated in the link that you OBVIOUSLY didn't read.

If the asset declined in value in a future year before being sold, it would produce an unrealized capital loss, reducing the taxpayer’s tax liability. An unrealized loss would first reduce remaining installments of tax owed on previous unrealized gains before being refunded in cash.

 

[struth]

Yes. It's stated in the link that you OBVIOUSLY didn't read.

They don't get a refund, hence why it's a new tax.

Thanks

 

[Marener]

They don't get a refund, hence why it's a new tax.

Thanks

An unrealized loss would first reduce remaining installments of tax owed on previous unrealized gains before being refunded in cash.

 

[struth]

An unrealized loss would first reduce remaining installments of tax owed on previous unrealized gains before being refunded in cash.

No, dumb ass, I am not talking about an UNREALIZED loss....i am talkling about an actual loss...when you sell the investment, when actual cap gains taxes would be due.

 

[Marener]

No, dumb ass, I am not talking about an UNREALIZED loss....i am talkling about an actual loss...when you sell the investment, when actual cap gains taxes would be due

Which would result in a refund.

 

[struth]

Which would result in a refund.

Haha no no it wouldn’t, they already spent all that money.

Why else would they want to tax unrealized cap gains if they were going to refund it if you didn’t have any cap gains?

 

[Marener]

Haha no no it wouldn’t, they already spent all that money.

Why else would they want to tax unrealized cap gains if they were going to refund it if you didn’t have any cap gains?

Because they would collect more in taxes than they would have to pay in refunds. People don't tend to sell their assets at a loss.

Maybe you do, but I imagine you're a pretty bad investor.

 

[Rawley]

You didn't read it don't add liar to your package....

Particularly funny when she plays the ignorant child routine. That's when I wish her a blessed day and disengage

 

[struth]

Because they would collect more in taxes than they would have to pay in refunds. People don't tend to sell their assets at a loss.

Maybe you do, but I imagine you're a pretty bad investor.

Really? I mean not when people figure out they can make more money getting a refund, I mean shit they’d be selling at a L, but with your tax olan they are gonna get money off the refund they wouldn’t of otherwise gotten

 

[Marener]

Really? I mean not when people figure out they can make more money getting a refund, I mean shit they’d be selling at a L, but with your tax olan they are gonna get money off the refund they wouldn’t of otherwise gotten

They refund any of the taxes paid on unrealized gains. You don’t make money. You get your money back.

Jesus. You really shouldn’t be making your own financial decisions.

 

[struth]

They refund any of the taxes paid on unrealized gains. You don’t make money. You get your money back.

Jesus. You really shouldn’t be making your own financial decisions.

So people are getting refunds…on money they never actually had! Haha had this new tax not existed they would of actually lost money because they sold at a L. Now they are making money because of the refund! Haha

Do you even think before you post?

 

[Marener]

So people are getting refunds…on money they never actually had! Haha had this new tax not existed they would of actually lost money because they sold at a L. Now they are making money because of the refund! Haha

Do you even think before you post?

So you think you’re going to make money by selling your assets at a loss to refund the capital gains taxes you already paid on unrealized capital gains for that asset?

You are really not smart.

 

[Superbadbrutha]

The inflation

investors are smarter than that… the upside of investing money that has already been taxed and to assume the risk that goes with investing is the capital appreciation and paying capital gains tax upon the sale of the investment. Continuous/annual paying another layer of taxes introduces more risk and strain on the cash flow compared to paying gains upon the sale of the investment. I don’t know how and why you think the level of investment will stay the same if Harris plan goes into effect and why/how that is good for Capital markets. You mentioned earlier that investors holding a stock for the long-term is “tax avoidance”. They still pay a tax when they sell and it is good for the stock that investors are holding.

This is a bad plan.

Harris didn't sign that bill, Biden did. That bill helped to control inflation.

 

[Rambunctious]

I read Trump’s three sentences from his platform. Where did you say he goes into details? It’s not on his platform, that’s for sure.

Your reading comprehension is not very good... when you libs are losing a debate and you move the goalpost please write down what your original question was so when you circle back to it you don't sound so stupid....