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Message
re: Unrealized capital gains 101
Posted on 8/24/24 at 4:43 pm to jrodLSUke
Posted on 8/24/24 at 4:43 pm to jrodLSUke
quote:
We tried telling you that Democrats would come after you 401Ks. This is how they want to do it. Taxing 401Ks every time they go up, even though you don't pull anything out.
In no proposal had this applied to 401(k) / IRA
0
Posted on 8/24/24 at 4:55 pm to Corinthians420
quote:
The threat of this passing has already tanked the frick out of the market. Maybe they know something
Mkt is close to or hitting new highs.
Posted on 8/24/24 at 5:04 pm to whiskey over ice
quote:
Thanks for mansplaining “pay your fair share”
I thought that was the dumbest thing in the thread, then I saw your name...
quote:
whiskey over ice
Real men take their whiskey neat. When the whiplash purges happen I hope you are the first to go.
This post was edited on 8/24/24 at 5:07 pm
Posted on 8/24/24 at 5:30 pm to hawgfaninc
I don’t think the donor class would allow this to happen in the first place.
Can’t see it becoming law.
It’s not the best economic idea for sure.
We’re living in a rigged game where the donor and political class are constantly trolling us. (Both parties)
Can’t see it becoming law.
It’s not the best economic idea for sure.
We’re living in a rigged game where the donor and political class are constantly trolling us. (Both parties)
Posted on 8/24/24 at 5:32 pm to Ricardo
quote:
That's what people said about a black president. It happened.
That's not a salient rebuttal as they didn't need to create and enact a Constitutional Amendment to elect a black President.
A tax on unrealized cap gains is a direct tax. Under the Constitution, the federal government can levy a direct tax only through apportionment, meaning they must be levied proportional to each state's population. The 16th Amendment was passed to allow a direct tax on income, but it limits what's considered with the phrase "by whatever source derived". Unrealized gains haven't been derived, therefore they fail to qualify as taxable under the 16th (this has been upheld by SCOTUS decisions).
To get a little more into human behavior, politicians survive on the donations of big donors. Big donors usually have loads of unrealized cap gains. Most of the politicians who voted for such an Amendment would see those donor dollars dry up.
In other words, without first passing an amendment to the Constitution there is no way they will ever be able to tax unrealized gains.
Posted on 8/24/24 at 8:00 pm to whiskey over ice
Go away Joe
Posted on 8/25/24 at 7:05 am to HempHead
quote:
What if those unrealized gains are used as collateral against a favorable loan of large proportions? That specific scenario is the only one in which it could make any sense.
Either the poli board tards are really bad at finance or they are just disingenuous in trying to see their views prevail.
Posted on 8/25/24 at 8:53 am to HempHead
quote:
What if those unrealized gains are used as collateral against a favorable loan of large proportions?
If I understand what you are asking, loans aren't considered taxable income as they are debts which must be repaid. Using a source that's considered non-taxable to secure something else that's non-taxable doesn't change the source into taxable income.
Posted on 8/25/24 at 1:58 pm to hawgfaninc
If anyone is confused, this thread was originally posted on the OT. I'm sure most on this board understand unrealized capital gains.
Posted on 8/25/24 at 5:29 pm to hawgfaninc
Hypothetically this passed does it tax Roth accounts too or just brokerage accounts?
Posted on 8/25/24 at 5:37 pm to LoneStar23
Are you worth 100 million or more?
Posted on 8/25/24 at 5:51 pm to hawgfaninc
For those who keep saying they can't do it or you aren't worth that much, that's not the issue. The issue is that our leaders think it's a good idea in the first place. It's a completely bonehead thought to begin with.
Posted on 8/25/24 at 6:12 pm to jrodLSUke
They already tax 401ks as regular income.
Posted on 8/25/24 at 6:34 pm to hawgfaninc
What happens when there is a year where the market tanks and there are a ton of unrealized losses?
Posted on 8/25/24 at 6:43 pm to hawgfaninc
Little more involved than this.
It’s got people with $100M in net worth or more. There’s 9 years of installments. Here are exceptions / deferments for those without liquidity.
I hate the proposal but this is a gross oversimplification.
It’s got people with $100M in net worth or more. There’s 9 years of installments. Here are exceptions / deferments for those without liquidity.
I hate the proposal but this is a gross oversimplification.
Posted on 8/25/24 at 8:10 pm to VABuckeye
quote:
Are you worth 100 million or more?
I'm posting on tigerdroppings, of course I am
Posted on 8/25/24 at 9:23 pm to LordSaintly
quote:That explains all the idiots on the first 2 pages
If anyone is confused, this thread was originally posted on the OT. I'm sure most on this board understand unrealized capital gains.
Posted on 8/26/24 at 7:13 am to saderade
I came to this page to get some knowledgeable info and Bard seems to be the adult in the room.
Posted on 8/26/24 at 7:19 am to jmorr34
quote:
You worth 100mil baw?
You think this would stop at 100mil?
It would get revised downward toward the middle class within a decade
Posted on 8/26/24 at 7:26 am to hawgfaninc
Where is her or the actual plan that’s being proposed
Please post the language here
Please post the language here
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