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Elon asks the internet if he should sell tesla stock
Posted on 11/6/21 at 5:11 pm
Posted on 11/6/21 at 5:11 pm
7
Posted on 11/6/21 at 5:13 pm to el duderino III
It's part of this whole taxing unrealized gains idea that Janet Yellen is pushing which might be the worst idea Democrats have come up with in months. Those pieces of shite need less money to operate with.
Posted on 11/6/21 at 5:15 pm to fallguy_1978
If I am an artist do you tax my arm for paintings I might paint?
Posted on 11/6/21 at 5:16 pm to chryso
quote:
If I am an artist do you tax my arm for paintings I might paint?
Don't give them any more ideas.
Posted on 11/6/21 at 5:17 pm to chryso
quote:If the progressives could tax you for merely existing, they would.
If I am an artist do you tax my arm for paintings I might paint?
Scruffy is surprised they don’t tax the welfare checks they send out.
Posted on 11/6/21 at 5:17 pm to chryso
quote:
If I am an artist do you tax my arm for paintings I might paint?
In many cases it would force people to dump assets to pay the taxes. It's an absolutely awful idea
Posted on 11/6/21 at 5:18 pm to fallguy_1978
quote:
It's part of this whole taxing unrealized gains idea that Janet Yellen is pushing which might be the worst idea Democrats have come up with in months. Those pieces of shite need less money to operate with.
If we could elect someone who would actually want to shrink govt instead of grow govt, people could actually keep more of the money they earn. Bold concept.
Posted on 11/6/21 at 5:18 pm to fallguy_1978
quote:
worst idea Democrats have come up with in months.
Sad that it’s only been months since they try to push ideas that make exactly zero sense.
frick the entire Democrat party and everyone who supports them and / or simply votes for them. I sincerely hope they die horrible deaths very soon.
Posted on 11/6/21 at 5:19 pm to el duderino III
It can be tax avoidance as high net worth individuals take out loans against their stocks for cash, which is not taxable income.
That’s the tax avoidance part. Oh and thr interest paid on said loan can be deductible as investment interest.
You should not be white knighting for rich folks on this one. It’s a bullshite practice that should be ended.
That’s the tax avoidance part. Oh and thr interest paid on said loan can be deductible as investment interest.
You should not be white knighting for rich folks on this one. It’s a bullshite practice that should be ended.
Posted on 11/6/21 at 5:19 pm to fallguy_1978
quote:
In many cases it would force people to dump assets to pay the taxes. It's an absolutely awful idea
And it would tank the price. Which would take 401k plans and public employee retirement systems with it.
Posted on 11/6/21 at 5:20 pm to Scruffy
quote:
If the progressives could tax you for merely existing, they would.
Individual mandate, baw.
Posted on 11/6/21 at 5:22 pm to jclem11
quote:
It can be tax avoidance as high net worth individuals take out loans against their stocks for cash, which is not taxable income.
The same could be said about any secured loan you could take. Why is taking out a loan against shares of stock worse than taking out a loan against the equity that you have in your home?
Posted on 11/6/21 at 5:25 pm to jclem11
quote:
It can be tax avoidance as high net worth individuals take out loans against their stocks for cash, which is not taxable income.
That’s the tax avoidance part. Oh and thr interest paid on said loan can be deductible as investment interest.
You should not be white knighting for rich folks on this one. It’s a bullshite practice that should be ended.
The middle class can do exactly the same thing with HELOCs, 401(k) loans, and Whole Life Insurance Policy Loans.
It's a great loophole for all and all will be hurt by demonizing it
Posted on 11/6/21 at 5:27 pm to chryso
It would be more like taxing an artist for paintings he’s painted, but just has sitting in his garage with no immediate plans to sell.
Still ridiculous.
Still ridiculous.
Posted on 11/6/21 at 5:33 pm to jclem11
quote:I think you mean deducted, and no it can't. Not unless the loan funds are used for other investments. You can't just take out a loan to buy a mansion and deduct the interest.
That’s the tax avoidance part. Oh and thr interest paid on said loan can be deductible as investment interest
LINK
Your argument only makes sense if the individual can somehow never sell the stock.
To be honest, I think there should be some limits to what individuals can pass on in the form of trusts without paying taxes, but zero chance musk just decides to leave his kids 200bn in stock
This post was edited on 11/6/21 at 5:38 pm
Posted on 11/6/21 at 5:33 pm to fallguy_1978
quote:
Those pieces of shite need less money to operate with.
Add it to the fact that all historical data has shown that the government collects LESS tax dollars when taxes are higher - Because real money has the means to park more of their cash in offshore accounts and invest in less tax-burdened countries around the world when they see fit.
There’s a global flow of dollars because of its trade settlement popularity. Who knew?
Posted on 11/6/21 at 5:34 pm to el duderino III
quote:
Elon asks the internet if he should sell tesla stock
I'm sure he has a well paid lawyer sitting right next to him when he pressed send.
Posted on 11/6/21 at 5:39 pm to jclem11
quote:
It can be tax avoidance as high net worth individuals take out loans against their stocks for cash, which is not taxable income.
That’s the tax avoidance part. Oh and thr interest paid on said loan can be deductible as investment interest.
You should not be white knighting for rich folks on this one. It’s a bull shite practice that should be ended.
Posted on 11/6/21 at 5:44 pm to Scruffy
quote:
If the progressives could tax you for merely existing, they would.
They kinda do at the end, it’s known commonly as the “inheritance tax” or “death tax”.
Posted on 11/6/21 at 6:09 pm to chryso
quote:
If I am an artist do you tax my arm for paintings I might paint?
frick around and find that shite in the infrastructure bill, lol.
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