You ready to pay Kama-Kama-Chameleon's 25% tax on the ultra-wealthy's unrealized capital gains?

[Jarlaxle]

That is a deflection, not an answer.

No, it's a statement.

 

[hadit]

You are worth 100 million and are paying less than 25% tax rate?

If not, then no, you shouldn't.

If the government wants to tax gains that I don't really have, it can certainly refund me for losses I don't really have either.

 

[hadit]

The rich got massively richer after collapsing the economy in 2008.

"The rich" are going to get richer after virtually any major event because they are poised and prepared to take advantage of virtually any upheaval in the economy. That's one of the things you do when you become wealthy.

 

[struth]

Do you have unrealized capital gains?

YES, absolutely. Anyone that owns a house has unrealized cap gains, anyone with a 401K, IRA, mutual fund, any stock

Do you know what unrealized cap gains are?

 

[struth]

Yup, and that's ^^^^^ great.

You are the kind of person that won't play the Lottery because "If I win $100 Million, I will have to pay TAX on my winnings." "And that is totally unfair"

View attachment 1002596

what are they basing what someone is worth on? What they actually have, or what is unrealized?

and what is the end here? If Harris and the Demafascist can tax something, that someone doesn't have, what's the end of what they think they can tax?

 

[pknopp]

"The rich" are going to get richer after virtually any major event because they are poised and prepared to take advantage of virtually any upheaval in the economy. That's one of the things you do when you become wealthy.

Sure, the rich and politicians work hand in hand.

 

[AntonToo]

If the government wants to tax gains that I don't really have, it can certainly refund me for losses I don't really have either.

No it doesn't and it can't because you don't have 100M+ in net worth this tax law would apply to.

 

[hadit]

No it doesn't and it can't because you don't have 100M+ in net worth this tax law would apply to.

Okay, let's put it this way. If the government wants to tax those with a net worth north of $100M on gains they don't really have, the government can also give tax refunds to those with a net worth north of $100M for losses they don't really have. That doesn't change anything.

 

[JohnDB]

The tax is the absolutely wrong approach to the situation at hand.

There are the "big 9" corporations that own everything which they are trying to tax. Including Elon Musk.
The Elon Musk thing is just them being petty.

But truly the problem is the FTC being gutted and neutered at every level.

Congress CAN fix this if they weren't so busy profiting from insider trading tips leaked by the "Big 9".

Because if they don't fix this "company store" situation soon....there is not going to be a nation much longer.

 

[leftwinger]

You are worth 100 million and are paying less than 25% tax rate?

If not, then no, you shouldn't.

So if you’re “worth” is $99.99 million you are free from the new TAX? Who decides your net “worth” and at what exact time do the figure it? Midnight JAN 01 annually? According to Zillow? Stock value, jewlery, cars, boats, paintings, Baseball cards? right then? Then the next JAN 01 you take another snapshot?

 

[JohnDB]

Company store is a metaphoric expression based on a situation that used to exist.

When the railroads were first building rail lines there was construction in remote places without housing for days worth of travel. No one could or would work in such remote locations. So the railroad built small housing huts and set up a general store that the workers they hired could rent a house/hut and buy groceries from proceeds from their paychecks.
However, the costs of the hut and groceries were such that the workers owed more money at the company store for housing and basic necessities than they could ever hope to earn by working every day.

Today through huge conglomerate stock ownership there are literally 9 companies that own most of the goods, services, and housing that Americans purchase. Including the jobs that employ people.

That's why the FTC was created.

 

[AntonToo]

So youre “worth” is $99.99 million and you are free from the new TAX? Who decides net “worth” and at what exact time do the figure it?

IRS estimates it.

If you disagree that you are worth 100m+ you can go over with them over your net assets and liabilities.

 

[struth]

IRS estimates it.

If you disagree that you are worth 100m+ you can go over with them over your net assets and liabilities.

Wow so the people that want the money are also the ones telling us what we are worth?

 

[AntonToo]

Wow so the people that want the money are also the ones telling us what we are worth?

...whats the alternate scheme in your head? Volantary taxation?

 

[Toddsterpatriot]

Please post the exact quote from that document that proposes a tax on unrealized capital gains. I could not find any.

Still looks like a MAGA hoax.

https://home.treasury.gov/system/files/131/General-Explanations-FY2025.pdf

 

[struth]

...whats the alternate scheme in your head? Volantary taxation?

how about not taxing "wealth" or unrealized cap gains?

Not that hard a concept.