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

[M14 Shooter]

I wonder if I will have to pay cap gains on the increase in the value of my firearms, after she bans ' assault weapons'.

 

[AntonToo]

I'm still chewing on it. I'd need to know more. Like...how are losses counted?

If you bought shares at $10 a share, but then they went down to $8.00 a share, there are obviously no gains, realized or otherwise. So if the value the next year returns to $10 a share, do you have to pay fifty cents on 'unrealized gains', despite the fact that you haven't actually made money?

If no, then the original purchase price impacts your tax liability way past that first year. Which has its own implications.

What about options? Does having the option to purchase shares at a certain price represent unrealized gains, even if you've never exercised them? I'd say, maybe......as depending on the circumstance, you can take out loans on un-exercised options.

And what if you purchase options. Are those subject to unrealized capital gains taxes if you never exercise them, even if they're in the money?

Bingo.

Unrealized gains taxing would be workable in a framework where government is taxing upside while crediting the downside through the years.

Otherwise it's too punitive.

 

[Crepitus]

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

Are you ultra wealthy?

 

[Crepitus]

I wonder if I will have to pay cap gains on the increase in the value of my firearms, after she bans ' assault weapons'.

Do you earn more than $400K a year?

 

[Crepitus]

KumWhore, you are Fired!

Are you ultra wealthy?

 

[AntonToo]

The average ultra-wealthy bought 10,000 shares of Apple stock in 1980 for $22.00 a share or $220,000 cost buy 10,000 shares.
Today these shares would be worth $21,000,000.
Under Kama-kama-chameleon plan this "ultra-wealthy" will have to pay 25% on the $20,780,000 gain or $5,195,000 taxes.

Wrong, wrong again. Under Kamala's plan no one would pay a single dime on that 21 million dollar share gains, because it would only tax gains that happen in a year after the law went into effect.

Do you ever post anything that is NOT a myth?

 

[M14 Shooter]

Do you earn more than $400K a year?

I do.
But if this nonsense comes to pass, I'll make sure I don't.

 

[leftwinger]

So if your million dollar 401K goes up 10% (+$100K) you have to pay additional 25%($25K) tax when you file 1040?

What if It drops 10%? Do we get a $25K tax credit?

 

[M14 Shooter]

So if your million dollar 401K goes up 10% +$100K) you have to pay additional $25K tax when you file 1040?

Yep.

What if It drops 10%? Do I get $25K credit?

Really? You don't already know the answer?
Democrats hate wealth in private hands (other than theirs).

 

[healthmyths]

Wrong, wrong again. Under Kamala's plan no one would pay a single dime on that 21 million dollar share gains, because it would only tax gains that happen in a year after the law went into effect.

Do you ever post anything that is NOT a myth?

Wow... you make a dumb ass assumption that EVERYTHING I post is a myth!

More importantly...
WHERE in my original post did I declare that the Apple stock was sold in 2024?

ZERO and YOU made a dumb ass assumption that the sale was being made in 2024!
I used today's (08/27/24 )Apple stock price as an example.
You need to read a little closer but that's truly an impossibility as your attention span is less than the Average American's of 8.5 seconds!

Squirrel! Why attention spans seem to be shrinking and what we can do about it

Reducing stress and getting enough sleep helps people successfully deal with distractions, a psychology expert says.

news.northeastern.edu

 

[marvin martian]

Forced selling of shares will negatively impact the markets, and harm pension funds and mutual funds, as prices of shares will fall.

That's the goal.

 

[Tommy Tainant]

Kamala Harris Unrealized Gains Tax Should Worry Voters​

The potential for Kamala Harris to push a 25% unrealized gains tax is worrisome, as it could drive wealth out of the U.S.

https://pro.thestreet.com/market-commentary/kamala-harris-unrealized-gains-tax-should-worry-voters

Here is how it will affect the average American.
The average ultra-wealthy bought 10,000 shares of Apple stock in 1980 for $22.00 a share or $220,000 cost buy 10,000 shares.
Today these shares would be worth $21,000,000.
Under Kama-kama-chameleon plan this "ultra-wealthy" will have to pay 25% on the $20,780,000 gain or $5,195,000 taxes.

BUT the 25% taxes will come OUT of either selling the stock or out of the "ultra-wealthy" other income.
The "ultra-wealthy" Apple stock holder will be paying that $5.1 million every year!

Now for those of you truly ignorant people who think that is so great...

YOU have NO idea what that will do to the economy as these "ultra-wealthy" will be cutting back on their building businesses, hiring people, buying goods and services. This will be disastrous for the rest of us Americans.

The wealth effect is a behavioral economic theory suggesting that people spend more as the value of their assets rise.
The idea is that consumers feel more financially secure and confident about their wealth when their homes or investment portfolios increase in value.

The Wealth Effect: Definition and Examples

The wealth effect is a behavioral economic theory suggesting that consumers spend more when their wealth increases, even if their income does not.

www.investopedia.com

The "ultra wealthy" send their money to Panama. Shed no tears for them.

 

[healthmyths]

The "ultra wealthy" send their money to Panama. Shed no tears for them.

Oh the tears aren't for them! It's the stupidity of people about taxes these people never understood, that under Trump
did the following:
As of 2015, US corporations accumulated more than $2.6 trillion of earnings in foreign subsidiaries, according to the Joint Committee on Taxation.

What is the TCJA repatriation tax and how does it work?

Before the 2017 Tax Cuts and Jobs Act (TCJA), the United States generally taxed its corporations and residents on their worldwide income. However, a US...

www.taxpolicycenter.org

Trump pushed congress to pass the 2017 Tax Cuts and Jobs Act (TCJA),

As a result, US companies brought back nearly $ 1 trillion of the above $2.6 trillion offshore.

Immediate net result according to the CBO Federal Tax revenue would increase over the next 9 years by $570 billion!

All because US companies could bring back money from overseas and pay less taxes! THINK what that meant!
Also most people, (maybe you???) aren't aware of "double taxation" of dividends... i.e. Double taxation refers to income taxes paid twice on the same income source. It occurs when income is taxed at both the corporate and personal level,

What Double Taxation Is and How It Works

Double taxation refers to income taxes paid twice on the same income source. It occurs when income is taxed at both the corporate and personal level, or by two nations.

www.investopedia.com

So companies that used some of the repatriated $1 Trillion bought back stock..
"most shareholders who realize gains from dividend payouts or buybacks owe tax at the long-term capital gains tax rate, not the individual income tax rate. Jul 23, 2024

How the U.S. Taxes Stock Buybacks and Dividends | Bipartisan Policy Center

Companies have two primary tools to reward their shareholders with company profit: stock buybacks and dividends. Stock buybacks, also known as share repurchases, occur…

bipartisanpolicy.org

And these taxes would be paid on the shareholders

 

[Toddsterpatriot]

Wrong, wrong again. Under Kamala's plan no one would pay a single dime on that 21 million dollar share gains, because it would only tax gains that happen in a year after the law went into effect.

Do you ever post anything that is NOT a myth?

Kamala's stupid plan doesn't tax old unrealized capital gains? Link?

 

[AntonToo]

Wow... you make a dumb ass assumption that EVERYTHING I post is a myth!

More importantly...
WHERE in my original post did I declare that the Apple stock was sold in 2024?

Dummy I'm talking about unrealized gains.

 

[bendog]

Kamala Harris Unrealized Gains Tax Should Worry Voters​

The potential for Kamala Harris to push a 25% unrealized gains tax is worrisome, as it could drive wealth out of the U.S.

https://pro.thestreet.com/market-commentary/kamala-harris-unrealized-gains-tax-should-worry-voters

Here is how it will affect the average American.
The average ultra-wealthy bought 10,000 shares of Apple stock in 1980 for $22.00 a share or $220,000 cost buy 10,000 shares.
Today these shares would be worth $21,000,000.
Under Kama-kama-chameleon plan this "ultra-wealthy" will have to pay 25% on the $20,780,000 gain or $5,195,000 taxes.

BUT the 25% taxes will come OUT of either selling the stock or out of the "ultra-wealthy" other income.
The "ultra-wealthy" Apple stock holder will be paying that $5.1 million every year!

Now for those of you truly ignorant people who think that is so great...

YOU have NO idea what that will do to the economy as these "ultra-wealthy" will be cutting back on their building businesses, hiring people, buying goods and services. This will be disastrous for the rest of us Americans.

The wealth effect is a behavioral economic theory suggesting that people spend more as the value of their assets rise.
The idea is that consumers feel more financially secure and confident about their wealth when their homes or investment portfolios increase in value.

The Wealth Effect: Definition and Examples

The wealth effect is a behavioral economic theory suggesting that consumers spend more when their wealth increases, even if their income does not.

www.investopedia.com

I love you math fails.

 

[Tommy Tainant]

Oh the tears aren't for them! It's the stupidity of people about taxes these people never understood, that under Trump
did the following:
As of 2015, US corporations accumulated more than $2.6 trillion of earnings in foreign subsidiaries, according to the Joint Committee on Taxation.

What is the TCJA repatriation tax and how does it work?

Before the 2017 Tax Cuts and Jobs Act (TCJA), the United States generally taxed its corporations and residents on their worldwide income. However, a US...

www.taxpolicycenter.org

Trump pushed congress to pass the 2017 Tax Cuts and Jobs Act (TCJA),

As a result, US companies brought back nearly $ 1 trillion of the above $2.6 trillion offshore.

Immediate net result according to the CBO Federal Tax revenue would increase over the next 9 years by $570 billion!

All because US companies could bring back money from overseas and pay less taxes! THINK what that meant!
Also most people, (maybe you???) aren't aware of "double taxation" of dividends... i.e. Double taxation refers to income taxes paid twice on the same income source. It occurs when income is taxed at both the corporate and personal level,

What Double Taxation Is and How It Works

Double taxation refers to income taxes paid twice on the same income source. It occurs when income is taxed at both the corporate and personal level, or by two nations.

www.investopedia.com

So companies that used some of the repatriated $1 Trillion bought back stock..
"most shareholders who realize gains from dividend payouts or buybacks owe tax at the long-term capital gains tax rate, not the individual income tax rate. Jul 23, 2024

How the U.S. Taxes Stock Buybacks and Dividends | Bipartisan Policy Center

Companies have two primary tools to reward their shareholders with company profit: stock buybacks and dividends. Stock buybacks, also known as share repurchases, occur…

bipartisanpolicy.org

And these taxes would be paid on the shareholders

View attachment 1002754

The US is an unequal society because of unfair taxation. The rich get too many tax breaks.

 

[AntonToo]

Kamala's stupid plan doesn't tax old unrealized capital gains? Link?

"Kamala's plan" is just an endorsement of Administration's FY 2025 revenues proposal found on Page 83 :

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

"The proposal would impose a minimum tax of 25 percent on total income, generally inclusive of unrealized capital gains, for all taxpayers with wealth (that is, the difference obtained bysubtracting liabilities from assets) greater than $100 million."

It is fundamentally an annual income tax, not wealth tax.

 

[Skylar]

Bingo.

Unrealized gains taxing would be workable in a framework where government is taxing upside while crediting the downside through the years.

Otherwise it's too punitive.

If they credited the downside, I could see it working, in theory.

 

[Skylar]

Yep.

Nope. You wouldn't pay a penny.

This applies to folks with 100M or higher net worth.

Not folks with just a 401K.