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Biden Cap Gains Tax changes -

Posted on 10/11/20 at 2:56 pm
Posted by AncientTiger
Mississippi- Louisiana - Destin
Member since Sep 2016
1380 posts
Posted on 10/11/20 at 2:56 pm
Today on Sunday with Maria I learned Biden’s Capital Gains taxes would go from 20% to 39.6%. I hope everyone understands Cap Gains is not only short term stock trades, it’s real estate, art, and numerous other items.
Posted by wutangfinancial
Treasure Valley
Member since Sep 2015
11129 posts
Posted on 10/11/20 at 3:27 pm to
Ya but nobody making under $400k owns assets
Posted by jimbeam
University of LSU
Member since Oct 2011
75703 posts
Posted on 10/11/20 at 3:51 pm to
Shhhhhhhhhhh
Posted by Weagle25
THE Football State.
Member since Oct 2011
46193 posts
Posted on 10/11/20 at 4:01 pm to
Cap gains is also not short term stock trades. That’s already at ordinary rates
Posted by rotrain
Member since Feb 2013
390 posts
Posted on 10/11/20 at 4:09 pm to
Only on income above $1 million. Sort of important detail you left out.
Posted by xxTIMMYxx
Member since Aug 2019
17562 posts
Posted on 10/11/20 at 4:34 pm to
Yea, but I don’t trust a word he says. He has literally flip flopped on everything he said before and during the DNC. This guy is not a leader with conviction. He just goes with what his influencers tell him. He can’t be trusted. With Trump, you know exactly what’s happening every 20 minutes of his every day. He is clear about what his plans are, and he follows through (despite everyone trying to stop him).
Posted by LSUSUPERSTAR
TX
Member since Jan 2005
16320 posts
Posted on 10/11/20 at 5:58 pm to
When have higher taxes ever resulted in growing an economy? All higher taxes do is expand government.
Posted by tirebiter
7K R&G chile land aka SF
Member since Oct 2006
9254 posts
Posted on 10/11/20 at 6:54 pm to
quote:

art


Nope, currently at 31.8%
Posted by fallguy_1978
Best States #50
Member since Feb 2018
48622 posts
Posted on 10/11/20 at 7:21 pm to
Higher taxes often reduce government collections
Posted by arcalades
USA
Member since Feb 2014
19276 posts
Posted on 10/12/20 at 7:40 am to
like everything else biden is lying just to appease the loons. doesnt matter either way if they dont take the senate.
Posted by LSUFanHouston
NOLA
Member since Jul 2009
37126 posts
Posted on 10/12/20 at 11:05 am to
I haven't heard anyone say that he would get rid of the home sale exclusion for principal residences. For many people, that's the extend of real estate holdings. Even fewer people sell appreciated art pieces.

I know these issues are of a higher relevance with the successful men and women of the MT, but unfortunetly, being upset is probably got going to get a whole lot of sympathy from most Americans.
Posted by LSUFanHouston
NOLA
Member since Jul 2009
37126 posts
Posted on 10/12/20 at 11:17 am to
quote:


Higher taxes often reduce government collections


Depends on how it is accomplished. Simply changing the rates won't bring in much more money and may reduce collections.

Reality is we have a federal debt that now exceeds 27 Trillion... approaching 82K per citizen and a stunning $217K per taxpayer... and growing. I just don't know how longer that is sustainable without reducing spending and/or adding new revenue.
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