This is why we need to tax the wealthy

[Billy000]

So-fucking what! It ain't my concern, and taxing the evuuulllll rich 10,000000% won't bring about unicorn farts and rainbows. the only thing it WILL do is make these people hightail their, and I repeat THEIR money out of this country!

Yeah we get it. You’re a selfish piece of shit

 

[Nostra]

Do you understand what "unrealized gains" means?

It’s quite obvious he does not.

 

[BackAgain]

In America, an unrealized gain refers to an increase in the value of an asset that has not been sold or realized. This means that the gain exists on paper, but has not been converted into cash or other tangible benefits. Unrealized gains are common in investment and financial markets, where the value of stocks, bonds, and other assets can fluctuate over time. These gains are only realized when the asset is sold at a higher price than its original purchase price.

Here are pros and cons of taxing unrealized gains...

Pros:
1. Increased tax revenue: Taxing unrealized gains would provide the government with a new source of tax revenue, which could be used to fund public services and programs.

2. Reduced wealth inequality: Taxing unrealized gains would help to reduce wealth inequality by ensuring that those with significant unrealized gains on their investments contribute more to the tax system.

3. Fairness: Taxing unrealized gains would ensure that all forms of income are subject to taxation, rather than just realized gains.

Cons:
1. Complexity: Taxing unrealized gains would add significant complexity to the tax system, as it would require the valuation of assets and the tracking of changes in their value over time.

2. Liquidity issues: Taxing unrealized gains could create liquidity issues for individuals who have significant unrealized gains on illiquid assets, such as real estate or closely held businesses.

3. Potential for double taxation: Taxing unrealized gains could result in double taxation, as individuals would be taxed on the increase in the value of their investments even if they have not sold them and realized the gains.

==>Undoubtedly, the wealthy have been ruling America and the rest of the world. So it's likely this kinda tax will remain practically impossible! lol.

Sigh.

Screw the pros and cons. We tax income; not predictions. If a “gain” has not yet been realized, then it is not yet income. If something is not yet income, you can’t tax it.

You want to change the rules? Meh. You’ll need another Constitutional Amendment.

 

[Jarlaxle]

So, how much defense needs to be cut, 100%? Make America totally vulnerable to massive invasion?

More than half.

OP would be one of those laying back, doing nothing, consuming what others were working to produce.

Like Karl Marx.

In America, an unrealized gain refers to an increase in the value of an asset that has not been sold or realized. This means that the gain exists on paper, but has not been converted into cash or other tangible benefits. Unrealized gains are common in investment and financial markets, where the value of stocks, bonds, and other assets can fluctuate over time. These gains are only realized when the asset is sold at a higher price than its original purchase price.

Here are pros and cons of taxing unrealized gains...

Pros:
1. Increased tax revenue: Taxing unrealized gains would provide the government with a new source of tax revenue, which could be used to fund public services and programs.

2. Reduced wealth inequality: Taxing unrealized gains would help to reduce wealth inequality by ensuring that those with significant unrealized gains on their investments contribute more to the tax system.

3. Fairness: Taxing unrealized gains would ensure that all forms of income are subject to taxation, rather than just realized gains.

Cons:
1. Complexity: Taxing unrealized gains would add significant complexity to the tax system, as it would require the valuation of assets and the tracking of changes in their value over time.

2. Liquidity issues: Taxing unrealized gains could create liquidity issues for individuals who have significant unrealized gains on illiquid assets, such as real estate or closely held businesses.

3. Potential for double taxation: Taxing unrealized gains could result in double taxation, as individuals would be taxed on the increase in the value of their investments even if they have not sold them and realized the gains.

==>Undoubtedly, the wealthy have been ruling America and the rest of the world. So it's likely this kinda tax will remain practically impossible! lol.

And the net result would be the end of retirement savings.

Does there actually need to be an objective definition? I’m sure you and I agree on what is considered wealthy. I’m sure I don’t have the wealth you do but I would consider you rich.

Of course you do, if he has one dollar more than you. Your envy of your betters drips off every word.

 

[GMCGeneral]

Yeah we get it. You’re a selfish piece of shit

Aww too fucking bad for you, Communist piece of flyshit.

 

[jotathought]

It’s quite obvious he does not.

Why would anyone want to invest if they would get taxed on money they haven't realized? This will just discourage investing opportunities, and those who have the equity, will just use financial vehicles like loans (which they already do) for capital. It's like taxing the plumber who gives an estimate for work and the customer chooses a competitor or doesn't pay for services rendered. It's potential money the plumber hasn't received using the cash method of accounting

 

[Billy000]

Aww too fucking bad for you, Communist piece of flyshit.

The irony is that you don’t even seem to see how you yourself are a moocher. You take advantage of government spending every day yet you whine about taxes.

 

[jotathought]

Well I can explain to you why we shouldn’t. We shouldn’t because millions of people would be dead in a few short years.

Let me explain to you the point of Food stamps. Let’s start who is actually on it. 90% of the people on that program are dependents, the elderly, VETERANS, and the disabled. I get that it makes you feel manly and superior to just assume they are all moochers (granted a few are), but that isn’t the reality.

Your percentage is off... as of 2022:

• Veterans are 3%-5% of SNAP recipients
• Disabled are 10%-15% of SNAP recipients
• Elderly are 10% - 15% of SNAP recipients
• Children are 40%-45% of SNAP recipients

That's 80% on the high end and 63% on the low end. Instead of making individuals more dependent on government with little to no incentive to better themselves .. why not incentive them instead?

 

[jotathought]

The irony is that you don’t even seem to see how you yourself are a moocher. You take advantage of government spending every day yet you whine about taxes.

Nearly 52% of wage earners aren't paying federal income taxes. so the other 48% of wage earners are using benefits they pay for.

 

[Billy000]

Your percentage is off... as of 2022:

• Veterans are 3%-5% of SNAP recipients
• Disabled are 10%-15% of SNAP recipients
• Elderly are 10% - 15% of SNAP recipients
• Children are 40%-45% of SNAP recipients

That's 80% on the high end and 63% on the low end. Instead of making individuals more dependent on government with little to no incentive to better themselves .. why not incentive them instead?

How are you going to incentivize a guy with the IQ of 50 to get a job? Should we push the elderly back into the work force? Should we lower child work age to 8? Do you have solutions or…

 

[GMCGeneral]

The irony is that you don’t even seem to see how you yourself are a moocher. You take advantage of government spending every day yet you whine about taxes.

Hey shit for brains. I would rather have the 40% of my paycheck restored back to me than be forced to pay for a government I hate.

 

[GMCGeneral]

How are you going to incentivize a guy with the IQ of 50 to get a job? Should we push the elderly back into the work force? Should we lower child work age to 8? Do you have solutions or…

The middle class is an artificial construct. America has gotten way too lazy.

 

[Billy000]

Hey shit for brains. I would rather have the 40% of my paycheck restored back to me than be forced to pay for a government I hate.

lol either way you would take advantage of government spending daily. You drive on highways and benefit from other infrastructure. You are protected by national security. If you have kids they went to public school. You would use emergency services if you needed it. The list goes on and on.

Face it: you’re a wannabe mooch off of the government tit

 

[Billy000]

The middle class is an artificial construct. America has gotten way too lazy.

Can you stop trying so hard to imply you’re tough and manly? No one cares lol. You aren’t special just because you have a job like everyone else including myself

 

[GMCGeneral]

lol either way you would take advantage of government spending daily. You drive on highways and benefit from other infrastructure. You are protected by national security. If you have kids they went to public school. You would use emergency services if you needed it. The list goes on and on.

Face it: you’re a wannabe mooch off of the government tit

Shut up, that's an order! People like you deserve the same fate Pvt. Eddie Slovik got.

 

[Billy000]

Shut up, that's an order! People like you deserve the same fate Pvt. Eddie Slovik got.

You know I’m right that’s why you’re butthurt lol

 

[AZrailwhale]

Do you realize the Pandora's box that would open if unrealized gains get taxed? It would mean leftwingers could decide to tax anything you have annually if they wanted to. No, Billy000 has never thought of that.

That’s what caused Prop 13 in California. Cities were taxing properties on assessed values that increased without the owners ever getting a cent for the increased value.

 

[beagle9]

A problem for who? No one is being forced to accept whatever pay they receive. Everyone has the choice to look for greener pastures.


Maybe, maybe not. But that's for them and their workers to decide, not the government.

Hey, I'm with you on the matter of having a robust middle class; it's part of the reason our nation is more prosperous than most. But again, I'm not on board with punishing the wealthy for being wealthy. I just don't think it's right in principle to require someone who makes more to pay more for succeeding at something that every one of us has the equal opportunity to succeed or fail at.

Good post... I agree.... The only add is that I'm not for our elite becoming so greedy that they begin to disrespect the workers in a bid to gain more for themselves to the point of creating a huge gap between earners and managers/owner's in an unhealthy mismanaged way... There was always a balance to keep that paid off for everyone involved, especially in a meritocracy. People were very duped when it came to slaving slaves upon the plantations, and so much so that they can't except the fact that slavery was partly the reason for the civil war.

To this very day people attempt to deny the part of the war concerning slavery, and it's all because it hurts them when they come close to mimicking it again all due to their greed.

 

[toobfreak]

TRILLIONS in untaxed wealth. Good luck explaining this to republicans I guess. You have to explain the difference between the official tax rate and the EFFECTIVE tax rate of top earners.

GUESS WHAT, genius-- -- not only is every person I know hoarding trillions in untaxed wealth a far left democrat, but it is the democrats who wrote the tax laws allowing them to do so, so why don't you go cry in your pillow now?

 

[jotathought]

How are you going to incentivize a guy with the IQ of 50 to get a job? Should we push the elderly back into the work force? Should we lower child work age to 8? Do you have solutions or…

20-25% of SNAP recipients are black and another 20-25% of SNAP recipients are Hispanic .. are you saying these demographics of individuals are stupid?