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

[Marener]

We agree that without a policy platform from Harris, you obviously don't know what the plans are.

We agree you never did tell us about the "very wealthy who use their untaxed capital gains to evade a lot of taxes"?

The OP seems to think they know the plan. Have you seen Trump’s tax plan? His platform says “tax cuts”.

Read the link, friend-o.

 

[hadit]

Absolutely! I say tax these fuckers and make them pay their fair share!

Oh, joy, another totally unfazed by reality. Once you get to a certain point in wealth accumulation, you have ways to keep it out of the hands of the envious.

 

[Hollie]

401ks are subject to income tax and have RMDs for a reason. As the boomers continue thru retirement, they’ll see that big chunk of that asset be taxes.

There’s a big difference between talking about when to incur capital gains and talking about applying capital gains to a program specifically designed to not be taxed by capital gains.

I don’t think it’s reasonable to discuss the “risk” as the “risk” is so minuscule that it does not bear worrying about.

Your " because I say so" tirades are not teal convincing.

BYW, 401k's are not tax exempt. They are tax deferred.

 

[Marener]

Your " because I say so" tirades are not teal convincing.

BYW, 401k's are not tax exempt. They are tax deferred.

I never said 401ks are “tax exempt”. I said capital gains don’t apply to them.

I’m just calling out your fear mongering. You’re making things up to oppose a policy when you’re too unwilling to discuss the policy.

 

[Hollie]

The OP seems to think they know the plan. Have you seen Trump’s tax plan? His platform says “tax cuts”.

Read the link, friend-o.

Yes you should read the OP. The great is about the lack of specifics for the Harris tax plan. I understand you need to retreat to, "but..
but.... gut what about Trump" that is just another excuse to flame your TDS.

 

[Skylar]

Try this. Think for yourself. I’ll even offer you a hint or hints. Ready?

How may taxation be imposed according to the Constitution?

Second hint: look to the Amendments.

Third hint: try to come to terms with the meaning of “income.”

Bonus hint: the number you want is somewhere between 15 and 17.

The meaning of income that's not defined by the constitution, but by the USC. Which can easily be changed with simple passage of a bill?

 

[Toddsterpatriot]

"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.

Yes, her stupid idea isn't original.

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

Unrealized capital gains still aren't income.

 

[Toddsterpatriot]

There's precedent both ways. But you're not wrong that there have been tax schemes in the past that were sold on only apply to the ultra wealthy that were then spread to everyone else.

The Income Tax, for example.

But there are also precedent the other way. The AMT for example.

The AMT did spread to the middle class.

 

[Marener]

Yes you should read the OP. The great is about the lack of specifics for the Harris tax plan. I understand you need to retreat to, "but..
but.... gut what about Trump" that is just another excuse to flame your TDS.

It’s not even Harris’s tax plan, it’s Biden’s which they’re laying on Harris. It is WELL explained in a lengthy nerdy document here.

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

This thread is HDS because it refuses to discuss the actual plan and instead fear mongers about made up nonsense.

 

[Hollie]

I never said 401ks are “tax exempt”. I said capital gains don’t apply to them.

I’m just calling out your fear mongering. You’re making things up to oppose a policy when you’re too unwilling to discuss the policy.

If a 401k is a mix of stocks, which is common, those capital gains are subject to tax if a withdrawal is made from the 401k.

You're unwilling to understand that Harris has no policy in place.

 

[Skylar]

It’s not even Harris’s tax plan, it’s Biden’s which they’re laying on Harris. It is WELL explained in a lengthy nerdy document here.

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

This thread is HDS because it refuses to discuss the actual plan and instead fear mongers about made up nonsense.

Oh shit dude. Nice pick! I didn't even know this document existed. 163 pages of specific.

Thank you!

 

[Hum Dinger]

Does anybody have a link to this plan by Harris?

I'd like to see her exact statement, directly from her or her campaign.

Taxing unrealized capital gains seems unworkable (Would the government have to reimburse for capital losses?), so I'd like to make sure that she actually made this proposal.

We all know how reliable internet information is!!!

 

[Skylar]

If a 401k is a mix of stocks, which is common, those capital gains are subject to tax if a withdrawal is made from the 401k.

You're unwilling to understand that Harris has no policy in place.

Here's a 163 pages of specific.

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

If you're looking for useful keywords, might I recommend 'Gains on unrealized appreciation'

 

[Hollie]

It’s not even Harris’s tax plan, it’s Biden’s which they’re laying on Harris. It is WELL explained in a lengthy nerdy document here.

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

This thread is HDS because it refuses to discuss the actual plan and instead fear mongers about made up nonsense.

What is the Harris actual plan? Your "because I say so" commandments are silly. You admit that Harris has no plan.

 

[Skylar]

What is the Harris actual plan? Your "because I say so" commandments are silly. You admit that Harris has no plan.

You wanted specifics. You've got specifics. Though if my handful of paragraphs was too 'tedious' for you, I don't see you getting through a 163 pages policy doc.

 

[Hollie]

Here's a 163 pages of specific.

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

If you're looking for useful keywords, might I recommend 'Gains on unrealized appreciation'

Whare has Harris endorsed that?

 

[Marener]

What is the Harris actual plan? Your "because I say so" commandments are silly. You admit that Harris has no plan.

So it’s just a tread totally based in HDS.

 

[Cellblock2429]

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

/-----/ "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."

Hint to class envy, Libtard Moonbats: This effect is the definition of Trickle Down Economics.

 

[Skylar]

Whare has Harris endorsed that?

You're not going to read it, are you? You're not even going to open the link.

So your argument that we 'can't know' has turned into a basic Argument from Ignorance. Where you refuse to look at the evidence.

Well, that was easy.

 

[Hollie]

So it’s just a tread totally based in HDS.

It's a simple question. Where does Harris identify specifics for the capital gains tax?