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Started By
Message
re: Unrealized capital gains 101
Posted on 8/27/24 at 8:37 pm to lsu13lsu
Posted on 8/27/24 at 8:37 pm to lsu13lsu
quote:
You are making my point for me.
I’m not sure that I am considering the risk involved with capital investments vs earned income. Plus, if Buffet wasn’t so generous he’d be paying 59% on his shares considering the estate tax that’s also out there for people with his wealth.
1
Posted on 8/27/24 at 9:41 pm to slackster
Risk? LOL. Not to mention billions of WBs donations were to his kids “charities” etc.
These high net worth people have generational wealth that will never be touched at this point by even their great great grandkids.
And this is just the stock markets types. Go look at the private equity / hedge fund / real estate guys. Carried interest, tax loss harvesting, 1031s and depreciation.
Go look at the debate between Hillary and Trump. He basically said the tax rules favor the rich and he takes advantage and so does her donors.
These high net worth people have generational wealth that will never be touched at this point by even their great great grandkids.
And this is just the stock markets types. Go look at the private equity / hedge fund / real estate guys. Carried interest, tax loss harvesting, 1031s and depreciation.
Go look at the debate between Hillary and Trump. He basically said the tax rules favor the rich and he takes advantage and so does her donors.
Posted on 8/28/24 at 6:15 am to lsu13lsu
quote:
These high net worth people have generational wealth that will never be touched at this point by even their great great grandkids.
And the government will get 40% of it when they’re gone, but you’ve yet to address that.
Posted on 8/28/24 at 9:31 am to slackster
If they do zero financial planning then yes you are correct. But they have more lawyers and cpas on their estates than you can imagine. As mentioned, they already create foundations/charities for their kids to “run”.
Posted on 8/30/24 at 9:32 am to Sao
quote:
But it's not going to happen.
You voted for the party that is opening the borders and letting thousands of illegal immigrants into this country. Even giving them financial assistance in some states also. Don't rule out anything because your party cares nothing for the people that live here. So screw your it's not going to happen BS
Posted on 8/30/24 at 10:01 am to hawgfaninc
They gonna pay me for my unrealized capital losses each year too?
Posted on 8/30/24 at 10:07 am to umrebel2009
no, those are Different.
Posted on 8/30/24 at 1:35 pm to jmorr34
quote:
You worth 100mil baw?
That's what they said about income taxes.
Posted on 8/30/24 at 4:49 pm to lsu13lsu
quote:
If they do zero financial planning then yes you are correct. But they have more lawyers and cpas on their estates than you can imagine. As mentioned, they already create foundations/charities for their kids to “run”.
So they have to give it away to avoid the government taking 40% on their death and you don’t think that’s enough?
Look, I hate taxes as much as anyone I know, but I never sit here and think that Buffet and others aren’t paying enough. The idea has never crossed my mind actually.
Posted on 8/31/24 at 12:09 am to slackster
Make a lot of w-2 income for a while and you’ll start asking why is it fair for you to pay well north of 30% while they are paying less than 20%. We needed a fairer system.
Posted on 8/31/24 at 2:26 pm to jmorr34
Assuming you don’t have every bit of your net worth in your mattress, disincentivizing investment for those above $100M would have profound impact on YOU, too.
Posted on 8/31/24 at 3:21 pm to Sao
quote:
Will never happen. Not a chance in hell.
To democrats, your money is not yours. Have you forgotten "you didn't earn that"?
Posted on 9/1/24 at 7:00 am to hawgfaninc
Ok. Now tell us who this would apply to?
You sound like an unsolicited Facebook meme!
You sound like an unsolicited Facebook meme!
Posted on 9/1/24 at 7:05 am to jaytothen
Chicken little.
This thread should move to the OT.
This is not a real financial thread.
This thread should move to the OT.
This is not a real financial thread.
Posted on 9/1/24 at 8:08 am to wileyjones
quote:
how did income tax get started? do you really think they started taxing everyone 35.0% overnight? No, that would be ludicrous and start riots. But.. introduce it slowly, and look around.
It was much closer to the effect of taxing only people over $100MM when it started. Now everyone pays it, and the rich just pay a ton. Government gets the money, screws up using it, then needs more and therefore must increase the breadth of the tax
Posted on 9/3/24 at 7:10 am to Corinthians420
quote:
You should've included the part where this law only applies to households worth $100+ million for transparency.
Which is fricking ridiculous in and of itself. So one class of people owes a tax while the rest don’t?
Posted on 9/3/24 at 7:14 am to lsu13lsu
quote:
Make a lot of w-2 income for a while and you’ll start asking why is it fair for you to pay well north of 30% while they are paying less than 20%. We needed a fairer system.
Because capital gains and income are two totally different things.
First, has anyone asked why we even need to increase taxes? The federal government has more than enough money. They launder a healthy percentage of it to enrich themselves and waste most of rest. The absolute last thing we need to do is give these crooks another dime. People who parrot the “fair share” narrative are brain dead.
Posted on 9/3/24 at 9:08 am to hawgfaninc
For those unaware, this would only apply to ultra-wealthy.
OP should become a better poster. This board is supposed to be better than Facebook.
OP should become a better poster. This board is supposed to be better than Facebook.
Posted on 9/3/24 at 9:41 am to KWL85
quote:
For those unaware
quote:
KWL85
include yourself. it never stops where they say it will
Posted on 9/3/24 at 9:48 am to DawgCountry
Ahh. Another Facebook guy on a financial board.
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