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It's Happening: Biden proposes tax on UNREALIZED gains.
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Date: April 17th, 2024 3:17 PM Author: orchid field Biden promises to impose a tax on "unrealized gains." If your land or stock account has increased in value in the last year you would pay taxes on the unrealized gain. You have not sold the property; you do not have the income. It isn’t "real." Yet you will be taxed as if you had made the sale and received the income.
https://www.foxnews.com/opinion/massive-tax-increases-coming-second-biden-term
lol at bitch bois and their pathetic crypto and brokerage account that they will have to pay taxes on. |
Date: April 17th, 2024 3:20 PM Author: provocative cuckoldry Grover Norquist is a name I haven't heard in a LONG time (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591072) |
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Date: April 17th, 2024 3:20 PM Author: lilac home dragon Impossible to tax unrealized gains. The estimated value changes by the minute. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591076) |
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Date: April 17th, 2024 3:21 PM Author: translucent startled goyim nursing home To be fair,
We'll just tax them based on the highest amount that the asset in question (BTC, Stonk, etc) was worth in any given calendar year on the open market. Because ya know, you *could* have sold it at that price and *that* would have been a taxable event! It's a *fact*!
;)
PS: Don't worry, a government that will try to pull shit like this would NEVER just shamelessly make it "legal" for them to raid your 401(k) down the line in the name of "promoting racial equity" or "addressing legacies of systemic racism" or whatever. Haha. Keep contributing, goys! It's a great use of your money! ;) |
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Date: April 17th, 2024 8:01 PM Author: mildly autistic frum sandwich TBF what is the best way to save for retirement in your opinion (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591817) |
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Date: April 17th, 2024 10:58 PM Author: hairraiser rose voyeur (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47592268) |
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Date: April 18th, 2024 5:42 AM Author: rusted dashing friendly grandma tank (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47592624) |
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Date: April 17th, 2024 11:38 PM Author: aquamarine haunted graveyard (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47592387) |
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Date: April 18th, 2024 6:46 PM Author: Ebony pit "Impossible to tax unrealized gains."
No. See PROPERTY TAXES. |
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Date: April 17th, 2024 3:23 PM Author: Wonderful naked senate this is dumb, how do you tax something that is always in flux. and if they even attempted it then all investment would halt and the nation would crumble. this is just an article to generate clicks from deranged morbidly obese boomers who will then screenshot it and share the blurry low rez jpeg on their facebook page. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591089) |
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Date: April 17th, 2024 3:27 PM Author: orchid field There is mark-to-market accounting so I guess it would be possible to just set the value to the last trading day of the year (which would encourage year-end selloffs, lol). (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591092) |
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Date: April 18th, 2024 6:46 PM Author: Ebony pit "how do you tax something that is always in flux"
Like real estate prices?
It's easy. You pick a valuation date. |
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Date: April 17th, 2024 3:33 PM Author: Histrionic church I admit that I am a total idiot who knows nothing but wouldn't that disincentivize investment in the United States and give people a good reason to invest in, say, China? haha lol nvm I'm retarded (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591098) |
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Date: April 17th, 2024 3:40 PM Author: Vigorous Painfully Honest Double Fault Deer Antler There better be an exception for WIF. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591103) |
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Date: April 17th, 2024 3:42 PM Author: beady-eyed massive giraffe spot (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591111) |
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Date: April 17th, 2024 3:59 PM Author: Jet medicated garrison generalized bond read my lips (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591159) |
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Date: April 17th, 2024 4:20 PM Author: topaz skinny woman police squad there should also be a tax on unrealized dreams (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591220) |
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Date: April 17th, 2024 5:48 PM Author: vibrant state Wow (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591463) |
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Date: April 17th, 2024 7:20 PM Author: bull headed federal school cafeteria (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591750) |
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Date: April 17th, 2024 10:59 PM Author: hairraiser rose voyeur (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47592271) |
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Date: April 17th, 2024 11:39 PM Author: aquamarine haunted graveyard (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47592388) |
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Date: April 18th, 2024 3:01 AM Author: nubile church building keepsake machete (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47592600) |
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Date: April 18th, 2024 5:43 AM Author: rusted dashing friendly grandma tank (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47592625) |
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Date: April 18th, 2024 3:27 PM Author: high-end area main people (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47593311) |
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Date: April 17th, 2024 8:02 PM Author: mildly autistic frum sandwich (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591819) |
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Date: April 17th, 2024 11:36 PM Author: kink-friendly volcanic crater (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47592384) |
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Date: April 17th, 2024 11:39 PM Author: aquamarine haunted graveyard (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47592389) |
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Date: April 18th, 2024 8:11 PM Author: magenta cracking base immigrant (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47594120) |
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Date: April 18th, 2024 9:24 PM Author: curious big-titted theater stage yarmulke (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47594237) |
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Date: April 17th, 2024 4:28 PM Author: Glassy crusty address wagecucks How many people would leave the country because of this? I think a non-insignificant number. Just do pay taxes at a rate that would support a european style welfare state with none of the infrastructure, welfare, pensions, training, etc. that europeans get for the taxes they pay. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591240) |
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Date: April 17th, 2024 4:33 PM Author: up-to-no-good cobalt heaven wrinkle Look, those Ukrainian and Israeli pensions don't pay themselves! (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591255) |
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Date: April 17th, 2024 4:34 PM Author: Histrionic church It's a great way to get all the elite in this country to leave.
On second thought, do it |
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Date: April 17th, 2024 4:41 PM Author: well-lubricated rough-skinned piazza it's funny that this is actually an argument people use.
"oh no, all the elites sucking the marrow out of our country will just move elsewhere! what will we do without the PE ghouls?!" |
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Date: April 17th, 2024 5:45 PM Author: up-to-no-good cobalt heaven wrinkle You understand that if the US loses all the really rich people that the amount of economic pain will be absolutely massive, right? If Elon Musk and everyone like him leave America then our economy will absolutely tank because a bunch of jobs will follow them.
Also, PE ghouls have a specific tax loophole that just needs to be closed. |
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Date: April 17th, 2024 5:55 PM Author: well-lubricated rough-skinned piazza do you understand that a scenario where the wealthy are permitted to leave the us tax free due to tax policy and expatriate all of their wealth is so ludicrous that only blithering retards believe it's possible? and that those that argue it to discourage taxing the wealthy are simply easily duped useful idiots carrying water for them?
this is without even touching the obvious roadblocks of (1) how tf could wealth held in land, property, american businesses, etc. ever leave the country to begin with? and (2) what countries would they be going to that has more lenient tax policy for the rich than the us?
but yeah, uh, i guess apple will just dissolve it's american corporations and reform in uruguay or something. |
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Date: April 17th, 2024 6:27 PM Author: up-to-no-good cobalt heaven wrinkle Before we proceed, do you have any background in corporate law at all? Simply put, these aren't "American businesses" they are large multinational corps. Tesla isn't truly "American" it is a company that has entities around the world. Many truly rich people don't hold their assets in personal bank accounts, their wealth is tied up in things like trusts, holding cos, etc. There are international tax implications with all of this but the question isn't whether they can leave "tax free" (they often will pay SOME tax) but it may be advantageous to take a one-time hit and leave with everything else. However, if wealthy people decide to do that then that will be a terrible result of the US.
As to other things, like land (land is inherently American, right?) that land can be either a) be held by a foreign corp, or b) simply sold with the proceeds transferred abroad.
"what countries would they be going to that has more lenient tax policy for the rich than the us?"
Singapore, UAE, Hong Kong, etc. There are advisors that do nothing but answer questions like these. |
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Date: April 17th, 2024 8:06 PM Author: Impertinent principal's office feces Wow you should be a tax lawyer! Just transfer your US land to a foreign corp and watch the tax-free gains roll in! (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591827) |
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Date: April 18th, 2024 11:05 AM Author: well-lubricated rough-skinned piazza "no sheriff, you can't sell my house, i don't even own it technically, i've securitized it and it's owned by a myriad of foreign entities!" (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47592807) |
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Date: April 18th, 2024 2:16 PM Author: up-to-no-good cobalt heaven wrinkle Yes, they will have to sell certain assets at a loss. If property is suddenly taxed far more the value will plummet whether they hold or sell. I realize that they're not putting an office building in a bag and moving it to Singapore. They'll sell an office here or exit a lease and get an office there. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47593110) |
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Date: April 18th, 2024 3:01 PM Author: well-lubricated rough-skinned piazza woah so taxing wealth will result in less wealth hoarding, a broader market for things, and lower prices?
holy shit i guess we're on the same page, sign me up. |
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Date: April 18th, 2024 3:04 PM Author: swollen newt It's really crazy to think what America would look like if the land and structures were repurposed for use by the American people. Hard to imagine if they weren't all foreign assets to HODL forever.
Did you know Hitler expropriated factories from foreign entities and designated them for use by the German people? Odd case. |
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Date: April 18th, 2024 3:20 PM Author: well-lubricated rough-skinned piazza oh jeez well how did germany figure out the unsolvable problem of those factories being held by foreign entities? and why didn't those glorious job creating factory owners just move the factory brick by brick? surely this policy lead to an economic collapse as wealthy industrialists just moved their business elsewhere, right?
many of the founders were concerned about this. accumulated generational wealth is just hereditary artisocrscy without the titles. paine proposed a 10% inheritance tax. |
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Date: April 18th, 2024 3:28 PM Author: swollen newt A problem with the economy under the Third Reich was widespread corruption of public officials. While the intent to redistribute wealth amongst the people was noble, in practice the day to day job of handouts fell to corrupt officials who were all on the take. It was an incredibly corrupt regime where the party elites greased their fingers at every chance. There was widespread public theft as well. It didn't go according to Hitler's stated social goals in the original Nazi Party platform of the early 1920s. In many cases property was simply seized from private citizens by the government for personal gain. It must be noted that good intentions do not always go over well. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47593324) |
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Date: April 18th, 2024 3:33 PM Author: well-lubricated rough-skinned piazza yet despite this graft the germany economy surged.
that's a spending and distribution issue. right now we have a government spending taxpayer money on dumb shit and distributing it poorly, and all that many comes from wage earners. i'd like the money to come from the wealthy at the very least in equal proportion. spending it wisely would be great too, but it's two different things. |
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Date: April 18th, 2024 3:49 PM Author: swollen newt the German economy only grew because of the massive war effort which amount to an enormous society-wide jobs program. The economy also collapsed, too, due to the same war. Inflation was 200-1000%.
No question here the government spends money poorly. I wish they wouldn't spend it at all. Raising taxes on the rich is only cool if it means lowering them for the poor and middle class. I have never heard of a tax increase on the rich that lowers taxes for anyone else in my entire life. If you find one historical example I'd like to know. The "best" tax cut I've heard of is the flat tax which benefitted everyone, although it benefitted rich people more which makes people like you's heads explode. |
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Date: April 18th, 2024 4:08 PM Author: well-lubricated rough-skinned piazza even before rearmament germany's economy was soaring due to hitler's economic policy. all the way up to the anschluss they were flying high. yeah, the economy collapsed due to the war. that doesn't mean the domestic economic policy prior to the war was anything but a massive success.
we're deficit spending and have been for some time, so i don't think tax cuts are a great idea. and all i'm advocating for the wealthy being taxed as much as the middle class. lowering taxes there would be a nice bonus, but at the very least i think they should be getting taxed at the rate of their laborers.
lol @ flat tax though. |
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Date: April 18th, 2024 4:12 PM Author: swollen newt thanks boomers for running up the deficit
higher taxes will ONLY lead to more spending though. This is a fact. It's inarguably. The more we take in, the more people will demand more programs. There's no increase in revenue that means less spend. This has never happened. No appetite for this. So don't lie. |
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Date: April 18th, 2024 4:46 PM Author: well-lubricated rough-skinned piazza lmao we spend freely regardless of revenue already! that's what a deficit is.
i don't see what's so controversial about insisting that billionaires at least pay what their workers pay. you just said you were in favor of a flat tax, and this is that in principle. spending is a different thing entirely.
also, this type of thinking is the type of thing that keeps elites entrenched.
"we should make sure the kikes get taxed at the same rate as the goys"
"but the kike run government will waste it!"
"regardless of how it's spent, i don't think we should bare all the taxes."
"until the kike government gets to deficit neutral spending i refuse to tax the kikes."
"but that will never happen so long as the kikes run everything, because their spending benefits them at our expense too. why should we let them take our money to spend on themselves? shouldn't they, at the very least, bare an equal burden?"
"NO NEW TAXES!"
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Date: April 18th, 2024 4:54 PM Author: swollen newt I'm sure that more government revenue of any kind will literally, literally solve things. It will, in all likelihood, make government spending go down. Entitlements will probably disappear, not increase. The size of the government will probably shrink. If you know, we got more money from people. *blank stare* (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47593575) |
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Date: April 18th, 2024 5:09 PM Author: well-lubricated rough-skinned piazza did you read any of that? i never once said spending will go down. i said the wealthy should pay taxes at least in line with workers. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47593648) |
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Date: April 18th, 2024 6:19 PM Author: swollen newt Government spending is worse from society than taxation is. Fact not opinion. If the government took more of our money but did nothing with it it would be better than it taking less money in and spending more. Spending is the worst thing the government does and it's not close. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47593929) |
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Date: April 18th, 2024 7:56 PM Author: well-lubricated rough-skinned piazza ok, spending is the greatest evil, got it. it's settled. but that's not relevant to what i asked.
should wealthy people pay a lower rate in taxes (often nothing) than wage earners whose net worth is frequently $0 or less? |
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Date: April 18th, 2024 8:20 PM Author: swollen newt In total dollars the rich typically pay more than wagies earn in a lifetime. I don't know what exact rate they pay. They pay whatever the rate is. If they have no income and only assets they don't pay any tax until they sell. And then they pay whatever the capital gains maximum is now which is I believe higher than it's ever been. Taxing unrealized gains is a pipe dream that will never happen. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47594127) |
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Date: April 18th, 2024 8:30 PM Author: well-lubricated rough-skinned piazza bro i know you know that the cap gains rate is far, far lower than the rate for wages. so, even in your answer here i know you know that they'd be paying a far lower rate than workers. but i also know you know that through lending they avoid paying that, and often pay absolutely no taxes.
if you want to say a wealth tax will be hard to achieve that's fine but it's not what we're talking about. you're saying it shouldn't be attempted at all because it will just result in more spending. actually achieving it is a separate issue entirely, and i agree it's a pipe dream.
hypothetically, if a wealth tax in some form was proposed that would tax billionaires at the same rage as wagies, would you be for or against? |
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Date: April 18th, 2024 9:17 PM Author: swollen newt Back when Stevie Cohen was insider trading capital gains was like 20% ljfl.
I'll never forget I remember him telling me it was "too high!" I asked him why it was so low he said "Because we have to encourage people to take risks with their capital! There should be a reward for investing! Businesses need to be funded!" and then he spat all over me. |
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Date: April 18th, 2024 9:24 PM Author: well-lubricated rough-skinned piazza haha yeah "back when"... (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47594234) |
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Date: April 18th, 2024 9:25 PM Author: swollen newt I think he was doing short term. It went up a lot. More boomers with opportunities we'll never have. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47594239) |
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Date: April 18th, 2024 2:29 AM Author: geriatric motley hominid parlour Gunneratt is a true midwit and was a top ten Redditor. Like any top Redditor he doesn't understand economics and believes in a retarded form of marxism-lite (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47592593) |
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Date: April 18th, 2024 10:09 AM Author: well-lubricated rough-skinned piazza yes.
your logic that the law could not accomplish something because the current law has mechanisms that prevent it is circular. legal entities, trusts, securities, etc. are all fictional.
"Singapore, UAE, Hong Kong, etc. There are advisors that do nothing but answer questions like these."
so silicon valley is just going to pack up and move to these places? finance is fiction. the iphones apples makes and the cars tesla sells are real. a $100m coastal house in bel-air is real. a holding company is not. the dollars that it could be sold for are not. they are legal fictions and tokens. |
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Date: April 18th, 2024 2:14 PM Author: up-to-no-good cobalt heaven wrinkle Oof. Yes, absolutely they will pack up and go somewhere else. I don't know if you haven't noticed this, but none of those people are actually from here. Musk is from South Africa, Brin is from Russia, Zuck has roots in Russia, and is you look at the employees they're also overwhelmingly Asian immigrants with some E Euros thrown in. None of these people would hesitate to move if the promise was more money. That's why they're here in the first place.
By the way, Venezuela tried this. How did it work out? |
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Date: April 18th, 2024 3:07 PM Author: well-lubricated rough-skinned piazza oh wow a lot of talented people come here... you think it's the tax policy? brin came here because he knew he was going to be a billionaire and didn't want that taxed?
taxing wealth at the same level as umc wagecucks won't cause people to flee the country you dumbfuck. and they could be prevented from doing so anyway.
there is probably some level of wealth tax that will lead to some sort of brain drain. however, i don't think if the wealthy are forced to pay tax rate as me will do it. buffet and plenty of other billionaires agree with me. even trump once proposed a large wealth tax on the ultra wealthy.
it's stunning that libertarian cucks like you are fine with bezos and his progeny paying no tax until the end of time because "oh are blessed billionaires and their generational wealth are sacred!" and then fork over 30%+ of your income like a good lil' boy. can't think of anything more cucked than that, really.
also nice "oof." and i get lambasted for reddit shit. that's a big yikes from me dawg! |
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Date: April 18th, 2024 4:03 PM Author: up-to-no-good cobalt heaven wrinkle "you think it's the tax policy?"
Absolutely. If taxes increased dramatically and QOL declined (and yes, that's how it works) then you would absolutely see shifts to other places of the world.
"taxing wealth at the same level as umc wagecucks won't cause people to flee the country you dumbfuck"
Depends on what their alternatives are.
"there is probably some level of wealth tax that will lead to some sort of brain drain. however, i don't think if the wealthy are forced to pay tax rate as me will do it"
At least you recognize the first sentence. Now, stop and think about what that rate might be and what would influence that.
"it's stunning that libertarian cucks like you are fine with bezos and his progeny paying no tax until the end of time because "oh are blessed billionaires and their generational wealth are sacred!""
I raised some proposals I'm fine with ITT. |
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Date: April 17th, 2024 5:03 PM Author: Rambunctious stimulating people who are hurt office you'd need to renounce citizenship to avoid the tax (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591369) |
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Date: April 17th, 2024 4:30 PM Author: swashbuckling ticket booth This is fine above a certain income/asset level (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591244) |
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Date: April 17th, 2024 4:31 PM Author: Razzle-dazzle Salmon Range Codepig you are a mentally retarded jewish pedophile and no it isn't you dumb kike. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591249) |
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Date: April 17th, 2024 4:55 PM Author: up-to-no-good cobalt heaven wrinkle Yeah this totally won't get shifted down to capture the UMC like every prior similar proposal has. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591323) |
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Date: April 17th, 2024 5:03 PM Author: well-lubricated rough-skinned piazza i understand the cynicism but what is your proposal then? at this juncture this at least proposes to tax the ultra-wealthy somewhat. are you saying that we should never try to tax them because it may be used to tax umc wage earners some day? so, i guess we just stick with the current system (where umc wage earners already pay almsot everything)? (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591370) |
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Date: April 17th, 2024 5:47 PM Author: up-to-no-good cobalt heaven wrinkle 1. Close loopholes like the PE loophole that allows fund managers to be taxes as investors and not employees paying income tax.
2. Death tax makes more sense than this.
3. Slash spending. Our idiotic congress is planning on sending $100 billion abroad to foreign countries over the weekend. That should be a total nonstarter. The question isn't who we should tax to pay for it, it is how do we stop doing stupid shit like this. |
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Date: April 17th, 2024 6:24 PM Author: well-lubricated rough-skinned piazza 1) agree, but there are endless loopholes to close
2) fine, but this is simply another form of a wealth tax
3) reducing spending doesn't really address the issue of UMC wagecucks funding everything regardless of how much money we spend. but yes, spending should be cut. |
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Date: April 17th, 2024 8:59 PM Author: up-to-no-good cobalt heaven wrinkle 1) so we should do that instead of doing something that is obviously just going to end up another UMC tax. Especially when there are tons of obvious loopholes that everyone refuses to close even though there's zero chance of them being used against the UMC.
2) but a far more reasonable one for a bunch of reasons.
3) speaking as a UMC wagecuck, that's simultaneously true and not true. It is true in that the burden on the UMC is insane, but this doesn't inherently change that particularly since it is easy to modify this in a way that it primarily hurts us. It is untrue in that when you constantly spend too much you are left constantly hunting for new sources of tax revenue. Because the truly rich can leave and start over somewhere else and we generally can't, we end up getting hosed. |
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Date: April 18th, 2024 9:51 AM Author: well-lubricated rough-skinned piazza any tax regime could be directed towards the umc. i think dismissing proposals to tax wealth without fixing the system completely is cynical. although i agree that the system should be fixed and that this proposal is not ideal. i disagree that any attempt to tax wealth will result in wealth leaving. there are things that can be done to prevent wealth from expatriating, and it's not like they can just airlift martha's vineyard to sealand anyway. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47592730) |
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Date: April 18th, 2024 2:18 PM Author: up-to-no-good cobalt heaven wrinkle It is cynical and on tax questions I'm extremely cynical and for good reason. Even within the US we've seen your thinking result in flight to Florida and Texas from places like NY, NJ and CA, myself being one of the people that left to Florida in part because of the reduced tax burden. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47593114) |
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Date: April 18th, 2024 3:09 PM Author: well-lubricated rough-skinned piazza under the current regime there is no chance that taxes will actually target wealth and will always target the umc, so i'm with you. i'm talking about hypothetical solutions and being open to them. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47593260) |
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Date: April 18th, 2024 3:33 PM Author: up-to-no-good cobalt heaven wrinkle Protip: that's every regime you will ever get. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47593348) |
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Date: April 18th, 2024 3:37 PM Author: well-lubricated rough-skinned piazza with a defeatist attitude like that then why bother engaging in political debate at all? just spread your butthold for the elites and say "resistance is futile." (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47593368) |
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Date: April 18th, 2024 4:08 PM Author: up-to-no-good cobalt heaven wrinkle I live in a state that is growing massively in part because we adopt policies to attract elites while other places adopt policies that drive them away. It is working out pretty well for us. Oh, and not for nothing, but those policies are also fantastic for high HHI UMC wagecucks like me. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47593462) |
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Date: April 18th, 2024 4:22 PM Author: well-lubricated rough-skinned piazza you can freely move across states, and if you are a remote wagecuck or can find similar paying work in the new state then it's trivial. an individual renouncing citizens and moving to a different country is not the same at all. and a company doing it is even harder.
anyway, i agree that the government should incentivize entrepreneurship and commerce. i think our current regime does the exact opposite regarding tax policy by allowing massive wealth accumulation to be completely untaxed and instead taxing wage earners only. not only is it unfair, it stifles competition and commerce by allowing de facto quasi monopolies. it's the same as trust busting and the gilded age. |
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Date: April 18th, 2024 4:25 PM Author: up-to-no-good cobalt heaven wrinkle As a company doing it is much easier than for individuals. Every large co is a multinational and they just transfer assets via intra-company agreements and/or using a variety of strategies. And if you're a high net worth individual (not any of us, but think the big names) then it is pretty easy. In all of these examples they have teams of people that do nothing but manage these.
"anyway, i agree that the government should incentivize entrepreneurship and commerce. i think our current regime does the exact opposite regarding tax policy by allowing massive wealth accumulation to be completely untaxed and instead taxing wage earners only. not only is it unfair, it stifles competition and commerce by allowing de facto quasi monopolies. it's the same as trust busting and the gilded age."
Based on this, death tax above some large threshold is the most efficient tool. |
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Date: April 18th, 2024 4:51 PM Author: well-lubricated rough-skinned piazza yeah, i'm a part of those transactions sometimes. but that is all fantasy. the assets on paper move to different entities but the real world doesn't change. the law could be changed to prevent this transfer of wealth anyway.
i have some concerns about an inheritance tax being the sole measure but it is probably the easiest to implement, least controversial, and a good first start. |
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Date: April 18th, 2024 5:18 PM Author: up-to-no-good cobalt heaven wrinkle "the law could be changed to prevent this transfer of wealth anyway."
If this happened you would quickly see a fire sale of such assets along with general concerns about investing in the US. You would see wealth absolutely flee, property values crash and the start of a massive recession. I don't think you have any concept of how bad that would get, but it would make ITE look like a little economic blip. |
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Date: April 18th, 2024 5:32 PM Author: well-lubricated rough-skinned piazza i don't believe it would. because in this fire sale situation what value would they be getting on their wealth? who would be buying? let's say they're able to get 50% in that scenario, which is wildly ambitious as you point out... at what level of wealth tax would it even be in their interest to do so?
0.5% on assets over $100m? 1%? 2%? obviously not, it doesn't even work out mathematically when you compound for growth if they stayed. there are a lot of other holes in this but it's easy to show this wouldn't happen at some wealth tax level.
again, i want to incentive growth and investment here. but i don't think giving the wealthy a free pass does that. and there is some level of taxation which will not cause a mass exodus, obviously. |
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Date: April 17th, 2024 7:57 PM Author: bull headed federal school cafeteria Self employed people and business owners shouldn't pay any taxes. All taxes should come from wagecucks. If you take the easy way out and wagecuck, you pay for everything. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591811) |
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Date: April 17th, 2024 9:19 PM Author: Disgusting pervert pisswyrm (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47592022) |
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Date: April 18th, 2024 5:44 AM Author: well-lubricated rough-skinned piazza your fake law firm is not "self-employment", you're a social parasite LARPing as an entrepreneur (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47592627) |
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Date: April 18th, 2024 6:36 AM Author: bull headed federal school cafeteria I have about 10 employees who depend on me. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47592644) |
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Date: April 18th, 2024 8:33 AM Author: well-lubricated rough-skinned piazza (referring to court staff and opposing counsel dealing with nonsense filings) (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47592681) |
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Date: April 17th, 2024 4:32 PM Author: slimy locale Who gonna pay me for unrealized losses (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591251) |
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Date: April 17th, 2024 4:33 PM Author: Glassy crusty address wagecucks now this is where it gets interesting. you ready? (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591254) |
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Date: April 17th, 2024 4:34 PM Author: slimy locale I get taxed for those too?! (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591261) |
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Date: April 17th, 2024 4:59 PM Author: orchid field you're not going to get to deduct them in down years, lol. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591347) |
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Date: April 17th, 2024 4:32 PM Author: Glassy crusty address wagecucks as long as it goes to ukrainian pensions im cool with it (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591252) |
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Date: April 17th, 2024 4:35 PM Author: aqua zippy dog poop Ljl, the moment they try this is the moment I sell everything and move (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591264) |
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Date: April 17th, 2024 4:42 PM Author: well-lubricated rough-skinned piazza if bush wins i'm moving to canada! (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591280) |
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Date: April 17th, 2024 4:47 PM Author: aqua zippy dog poop we actually had a country when people said that. the entire premise of being here now is to extract cash faster than you can anywhere else, every single time they try that from here on out the people affected wouldn’t be crazy for taking the next flight out. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591298) |
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Date: April 17th, 2024 4:52 PM Author: well-lubricated rough-skinned piazza i don't think you have over $100m so you won't be affected. and this has no shot of ever passing under biden. and biden doesn't actually support it himself. so i think you'll still be here. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591314) |
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Date: April 17th, 2024 4:40 PM Author: well-lubricated rough-skinned piazza the proposal is only for people over $100m net worth. i'm fine with some form of wealth tax like this. although focusing on unrealized gains seems stupid. all that will do is incentivize wealthy people to store wealth in things that cannot be easily measured. and i don't see why a billionaire that has all of his money in something that doesn't fluctuate wildly should pay less than someone with $100m invested in the stock market. why not just do like a flat 1% a year on all wealth over $100m? (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591275) |
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Date: April 17th, 2024 11:12 PM Author: startling set it's okay to steal. really. as long as they are rich. you're no better than a california shoplifter |
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Date: April 18th, 2024 1:29 PM Author: well-lubricated rough-skinned piazza lmao bro your opinion on this matter is irrelevant considering you've exposed yourself as being completely clueless on even the fundamentals of this shit
http://www.xoxohth.com/thread.php?thread_id=5471233&mc=19&forum_id=2
you couldn't do it before but i'll give you another opportunity: why do you consider a tax on income not to be theft but a tax on wealth theft? the only difference taxing things you received during a year versus taxing things you have. in both cases the government is taking wealth people own. |
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Date: April 18th, 2024 6:35 PM Author: startling set who said income taxes aren't theft? they are, but they basically affect everyone equally and, if taxes must occur, they should be through a flat tax systm saying no taxes on anyone except the very wealthy, that's theft. you support only taxing the very wealthy which is the same mindset as california shoplifting thieves. congrats. |
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Date: April 18th, 2024 8:23 PM Author: well-lubricated rough-skinned piazza "who said income taxes aren't theft? they are, but they basically affect everyone equally and, if taxes must occur, they should be through a flat tax systm"
holy shit dude. i don't want to get into you with this in multiple threads, but this is just too good.
are you seriously not aware wealthy people report almost no income? for example, jeff bezos has often paid $0 in income tax, and in fact has received a child care tax credits designed for impoverished people? |
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Date: April 19th, 2024 5:38 PM Author: startling set why do wealthy people report almost no income? you fly around and change the topic like an adhd 8th grader i'll start you out on an answer. it's not because they don't have any, but |
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Date: April 17th, 2024 4:43 PM Author: Green gas station digit ratio Israel and Ukraine need your money more than you (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591281) |
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Date: April 17th, 2024 4:44 PM Author: Sapphire Regret Lay this is fantasy. actually it's scare tactics by billionaires who will be the real target of these wealth taxes (which will likely not happen anyways). (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591284) |
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Date: April 17th, 2024 4:50 PM Author: well-lubricated rough-skinned piazza no way, i believe biden, who has been a corporate stooge for literally his entire year, and is a member of the party of the elites, and has done nothing in his first term, will *actually* pass a form of tax that targets the wealthy. if you re-elect him, of course. see you in november! (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591307) |
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Date: April 17th, 2024 5:02 PM Author: swollen newt Krystal Ball went off today on Breaking Points about how progressives with true lefty economics are in such a state of disrepair that establishment democrats act like they are don't even exist. Long rant about how she feels people like her are invisible to Biden and the mainstream Dems. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591362) |
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Date: April 17th, 2024 5:03 PM Author: orchid field keep voting Dem because 'racism'. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591367) |
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Date: April 17th, 2024 5:11 PM Author: swollen newt Cr friend. Cr. Racism is the greatest threat. You will own nothing but at least we can stop racism. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591393) |
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Date: April 17th, 2024 5:23 PM Author: translucent startled goyim nursing home To be fair,
TWIST: By strict definition, white goys "owning" anything is itself definitive proof of racism. These things go hand in hand, very directly and intentionally. |
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Date: April 17th, 2024 5:52 PM Author: swollen newt Then I assume as a token of your great wisdom and leadership you will be the first one to donate all your BTC and TSLA to the Negro. Allah is great, friend. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591487) |
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Date: April 17th, 2024 5:14 PM Author: well-lubricated rough-skinned piazza democrats have been doing this forever. promises to leftists in an election year that NEVER materialize. in fact, for the past few decades they haven't even had to make the bullshit promises. so, i guess leftists are more visible than in quite a while -- biden is spending the time to lie to them! (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591409) |
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Date: April 17th, 2024 5:53 PM Author: swollen newt This will be a very telling election to see if leftists actually have the balls to not vote. If Biden loses, expect Dems to blame leftists. But I doubt they will ever blame themselves! (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591491) |
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Date: April 17th, 2024 4:53 PM Author: soggy queen of the night market Can i recognize or carry forward unrealized losses? (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591317) |
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Date: April 17th, 2024 5:08 PM Author: orchid field lolno. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591384) |
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Date: April 17th, 2024 5:02 PM Author: thirsty partner native Based (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591366) |
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Date: April 17th, 2024 5:16 PM Author: Heady honey-headed dysfunction new version What is the deal with the antisemitism spamming on this board??? The board is increasingly unreadable … (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591415) |
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Date: April 17th, 2024 5:42 PM Author: bisexual cruel-hearted den liquid oxygen I fucking hate tax and spend liberals! (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591445) |
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Date: April 18th, 2024 6:34 AM Author: tan cocky fanboi we need more borrow and spend! (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47592636) |
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Date: April 17th, 2024 5:57 PM Author: walnut theater corn cake Hear me out....what if everyone just stopped paying taxes? (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591506) |
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Date: April 17th, 2024 5:59 PM Author: Ungodly Jap And th government will charge you for "fraud" if you miscalculated your unrealized gains ljl (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591510) |
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Date: April 17th, 2024 6:55 PM Author: burgundy awkward circlehead Makes sense after a certain income level. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591699) |
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Date: April 17th, 2024 7:55 PM Author: Clear cruise ship love of her life did anybody click on the link? It's Grover talking about Biden without any kind of link. Earlier in the piece Biden writes about eliminating the automatic step-up in basis at death, which yes taxes unrealized gains, but it absolutely should be the law (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591806) |
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Date: April 17th, 2024 8:05 PM Author: Twisted Avocado Philosopher-king Station Xo is so dumb lol (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591826) |
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Date: April 17th, 2024 9:13 PM Author: haunting supple dilemma karate (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47592003) |
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Date: April 17th, 2024 9:14 PM Author: haunting supple dilemma karate You can post anything and spics and indians will reply to it earnestly (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47592007) |
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Date: April 18th, 2024 11:45 AM Author: laughsome institution Eliminating step up doesn't tax unrealized gains. It just preserves the historical low basis. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47592877) |
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Date: April 18th, 2024 12:32 PM Author: Clear cruise ship love of her life you're right, i said it wrong. so upon death, three options would be: 1 current step up in basis, 2 no step up so upon heir's disposal of capital assets it triggers realization, or 3 unrealized gains taxed as it transfers to heir (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47592911) |
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Date: April 18th, 2024 1:55 PM Author: bull headed federal school cafeteria So nothing would ever get sold and millennials would be even more fucked. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47593023) |
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Date: April 18th, 2024 2:09 PM Author: well-lubricated rough-skinned piazza yeah dude i guess people inheriting their parent's property will just keep it rather than paying long-term capital gains on it. you fucking moron. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47593082) |
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Date: April 18th, 2024 4:23 PM Author: bull headed federal school cafeteria Why are you always so MAF? Tons of people would keep something they would rather sell because they don't want to give the government on dime if they can help it. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47593508) |
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Date: April 18th, 2024 8:36 PM Author: well-lubricated rough-skinned piazza because your assertions are stupid and it's annoying. no one is going to keep a house they aren't using because of cap gain taxes. there are already transfer fees, agent fees, etc. like, what, you get meemaws house and just keep it empty and continue to pay the property taxes because you don't want to pay long term cap gains?
0% up to 100k for married people btw, and 15% after that up to about 600k. so, if you inherited a house worth $300k, you there are a substantial number of people that would not sell it because of the $30k in taxes? |
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Date: April 18th, 2024 10:05 PM Author: bull headed federal school cafeteria Of course lots of people won't sell. They will rent it out. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47594283) |
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Date: April 18th, 2024 1:24 PM Author: well-lubricated rough-skinned piazza and if people went beyond clicking and actually searched for the proposal they'd see that it includes many things, including a tax on unrealized gains.
https://drive.google.com/file/d/1w50t6QtLMNwbdTnuZ_tBxVXMgOoshFw1/view
it also includes a lot of the stuff others suggested were needed.
note: this will never happen and biden doesn't actually support it. but a lot of people are talking out of their ass without taking 2 seconds to find out what the plan actually contains. |
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Date: April 18th, 2024 3:41 PM Author: Clear cruise ship love of her life thanks; you're right. the billionaire minimum tax is based on taxing unrealized appreciation, is supported by biden, and i agree that it's crazy. the linked article in OP did not do a great job of citing evidence to support its arguments imho (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47593380) |
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Date: April 18th, 2024 3:46 PM Author: orchid field lol, nerd. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47593394) |
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Date: April 18th, 2024 4:12 PM Author: well-lubricated rough-skinned piazza yeah. i always look up primary source for anything the msm is reporting on that i'm interested in because they *ALWAYS* lie. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47593473) |
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Date: April 17th, 2024 8:07 PM Author: insanely creepy shrine chad Unrealized gains are potentially infinite if you believe in yourself. (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47591831) |
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Date: April 18th, 2024 3:49 PM Author: Learning disabled abusive menage toaster (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47593403) |
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Date: April 17th, 2024 8:20 PM Author: big library I'll tax the street (If you try to sit, sit) I'll tax your seat (If you get too cold, cold) I'll tax the heat (If you take a walk, walk) I'll tax your feet |
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Date: April 18th, 2024 4:08 PM Author: up-to-no-good cobalt heaven wrinkle (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47593464) |
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Date: April 19th, 2024 10:39 AM Author: rusted dashing friendly grandma tank (http://www.autoadmit.com/thread.php?thread_id=5518810&forum_id=2#47595115) |