Say goodbye to your 401K value.
Is it too late to ditch this socialist grifter?
Is it too late to ditch this socialist grifter?
Harris: 25% tax on unrealized gains
- Thread starter Phenomenally Frantastic
- Start date
Legendary investor Tom Lee weighs in. I don’t think most people appreciate how horrible this policy would be nor the repercussions.
Any tax on unrealized gains is essentially theft IMO, not to mention...impossible to administrate.
For starters, how/who would determine the amount of any unrealized, read theoretical, gain?
For starters, how/who would determine the amount of any unrealized, read theoretical, gain?
is this a terrible joke or is she insane? Might have to vote for Trump afterall jfc
Yeah, I am not worried about an unrealized gain tax. It is just virtually impossible to monitor and administer. You going to give those same people losses during down years? Yeah, sure thing.
44% capital gain tax? I don't support that either. 25 or 30% for the next bracket higher than the current 20% one? that would probably be ok and is something I can see and really don't have a problem with it.
44% capital gain tax? I don't support that either. 25 or 30% for the next bracket higher than the current 20% one? that would probably be ok and is something I can see and really don't have a problem with it.
Last edited:
Reason #500 why any American working your ass off to give a better life for you and your family would be insane to vote for a liberal polician like Kamala.
Be pissed about abortion. I get it. But a policy like this matters FAR more to anyone grinding away, trying to save and investing for retirement.
Be pissed about abortion. I get it. But a policy like this matters FAR more to anyone grinding away, trying to save and investing for retirement.
is there any actual information about this support?
i don't want to impugn the sterling reputation of watcher.guru, but i'm one of those weirdos that actually likes to read information for myself BEFORE i get worked up in a tizzy
i don't want to impugn the sterling reputation of watcher.guru, but i'm one of those weirdos that actually likes to read information for myself BEFORE i get worked up in a tizzy
The unrealized gain tax only applies to people worth more than $100,000,000 which I know includes everyone here but shouldn't apply to the unwashed masses
"Your risk, our profit" is communism 101
When billionaires sell 25% of their unrealized holdings what do you think will happen to the value of your 401K?
Besides the fact that they will have sold Trillions in advance of the policy going into effect?
It should not apply to anyone.
I’m not for this. But is there anything that can be done about the legal tax avoidance strategies? Things like borrowing against an asset to avoid taxes?
Taxation is theft.
A tax on ‘unrealized gains’ is like getting robbed…then getting kicked in the nuts before the robbers leave.
Screw that.
A tax on ‘unrealized gains’ is like getting robbed…then getting kicked in the nuts before the robbers leave.
Screw that.
“Meet the Expert
Dennis Shirshikov is a professor of finance, accounting and economics at the City University of New York. Not only does he hold a stellar 4.9-out-of-five rating from RateMyProfessor, but he also has firsthand experience building and maintaining wealth through changes in parties, administrations and policies.““The wealth tax Shirshikov references comes from the official Biden-Harris 2025 budget proposal, which reads, “The tax code currently offers special treatment for the types of income that wealthy people enjoy. While the wages and salaries that everyday Americans earn are taxed as ordinary income, billionaires make their money in ways that are taxed at lower rates, and sometimes not taxed at all. This special treatment, combined with sophisticated tax planning and giant loopholes, allows many of the wealthiest Americans to pay lower rates on their full income than many middle-class households pay. To finally address this glaring inequity, the budget includes a 25% minimum tax on the wealthiest 0.01%, those with a wealth of more than $100 million.”
Grifters like Harris always use percentages instead of gross figures.
LOL at anybody on this thread acting like any of this is new or that it might apply to them.
Kamala's entire policy plan so far is absolutely retarded
I have several, and a whole lot more besides, and no I'm not concerned about any of this, so neither should you. When I hit over $100 million I'll send it off to you to help you out. How's that?
Are you retarded or financially illiterate?
She is the worst candidate in history.
Marxist with a pretty smile.
Wolf in sheep’s clothing. More dangerous than Trump. Her ideas are much worse.
and you think the bolded part is specifically referring to a tax on unrealized capital gains?
Dude, I could probably buy and sell you 50 times over. I didn't get there by being either of those things, and your comments are offensive. Now, stop acting like your knowledge of these matters extends beyond what you pick up off the internet and post here. You're embarrassing yourself.
Okay, you are retarded.
Why should I trust your retarded ass more than Tom Lee?
because I asked for actual information or a link to a stated policy?
seems like a reasonable approach to me
it upsets you greatly apparently
insults instead of an actual explanation is one approach, I guess
I provided a link. Then you say this?
Being obtuse?
What percentage of assets of people with >$100M in wealth is in unrealized gains you think?
What will these people sell in order to raise the cash to pay these taxes?
Real property or their own private businesses or equities or what?
Pick any asset class this will gut the US stock market.
This is asset confiscation by the government.
They already spend more than they take in. This will simply expand the scope and reach of the government further and further.
Some of you want to live in Sweden, move there!
Last edited:
i’m not in favor of getting taxed on unrealized gains of 401ks or even stocks but cryptocurrency is different. seems to be a speculative enterprise to avoid taxation while not contributing to innovation (by the taking on risk of real world projects)
also it’s supposedly a currency, we do get taxed on interest gains in savings accounts and cds.
Crypto is already tracked and taxed. One must declare any crypto holdings and gain/loss on your tax returns.
You're a prime example of why Trump loves the uneducated.
I noticed you dodged the question. I’ll stick with Tom Lee.
that part doesn't explicitly say anything about a tax on unrealized gains. I hope we can agree on that
so, are we supposed to just intuit the part about the unrealized gains? is that specifically referenced elsewhere?
I'd also point out that this is referring to the Biden ffy 2025 budget proposal, not anything specific to Harris campaign. Of course its reasonable to think her campaign would have a lot in common with Biden admin proposals, but it's not necessarily automatic.
so, no, I'm not being obtuse. whenever someone posts something like this without any link or direct info, it raises a red flag for me
I tend to want to read and understand things for myself...not just regurgitate social media content
But it would affect everyone. How difficult is that to see?
President Biden’s FY 2025 Budget Proposal: Details & Analysis
President Biden is proposing extraordinarily large tax hikes on businesses and the top 1 percent of earners that would put the U.S. in a distinctly uncompetitive international position and threaten the health of the U.S. economy.
taxfoundation.org
“The combination of policies would move the tax code further away from simplicity, transparency, and neutrality, while making the US economy less competitive.”
Major provisions not modeled:
- Repeal the base erosion and anti-abuse tax (BEAT) and replace it with an undertaxed profits rule (UTPR) consistent with the OECD/G20 global minimum tax model rules
- Replace FDII with unspecified R&D incentives
- Create a 25 percent “billionaire minimum tax” to tax unrealized capital gains of high-net-worth taxpayers
Do you get a check back if the asset you pay the gain on then goes down....like kamala on willie brown?
Exactly!! 80% of this board is on the ****ing dole......
