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Started By
Message
re: Kamala Harris just released more tax policy proposals…jeez
Posted on 8/20/24 at 4:22 pm to Pikes Peak Tiger
Posted on 8/20/24 at 4:22 pm to Pikes Peak Tiger
quote:Do I get refundable tax credits for unrealized losses?
This is such BS. How can you be taxed on something yet to be earned?
1
Posted on 8/20/24 at 4:23 pm to GumboPot
quote:
A cursory explanation from Kamala would suffice (and would be highly entertaining). Can you imagine the word salad that would ensue?
So, there are these things called stocks. There are actual certificates and everything. *cackle*. People buy them and sell them on this computer system... it is in the cloud, so it's not an actual computer, can you feel me?
Sometimes greedy people hold onto their stocks. These are bad people. We will make sure that they pay their fair share by unburdening what would have been from what is. I'll now take any questions you might have.
(okay, we all know that last little bit will NEVER happen
)
Posted on 8/20/24 at 4:24 pm to HailHailtoMichigan!
Posted on 8/20/24 at 4:24 pm to Sweep Da Leg
quote:
He sure did. I can’t believe he has the nerve to even post here anymore. Such a soft bitch he is
Yeah…he should just vote for this again. Changing one’s mind about anything is for losers.
Posted on 8/20/24 at 4:24 pm to HailHailtoMichigan!
Posted on 8/20/24 at 4:25 pm to HailHailtoMichigan!
quote:
Do some of her fans on here
quote:werent you a giant liberal with TDS??
HailHailtoMichigan!
This post was edited on 8/20/24 at 4:25 pm
Posted on 8/20/24 at 4:25 pm to HailHailtoMichigan!
Taxing unrealized gains is wild to me. Until it's sold, it just a hypothetical value. The money doesn't exist. What are you taxing 25% of?
Posted on 8/20/24 at 4:25 pm to Taxing Authority
quote:quote:
This is such BS. How can you be taxed on something yet to be earned?
Do I get refundable tax credits for unrealized losses?
Can I get credits on unrealized dependents?
Posted on 8/20/24 at 4:27 pm to HailHailtoMichigan!
Were eleventh gazillion dollars in debt. Who really thinks the fricking tax rate means a fricking damn thing.
This post was edited on 8/20/24 at 4:28 pm
Posted on 8/20/24 at 4:27 pm to HailHailtoMichigan!
American businesses that can flee will flee.
Posted on 8/20/24 at 4:28 pm to M. A. Ryland
quote:
Also happens to be unconstitutional for the Feds (constitution allows taxing INCOME, not wealth. ) unrealized gains are not income
Well they changed the definition of vaccine to include mRNA gene therapy. So what’s stopping them from changing the definitions of income and wealth.
Posted on 8/20/24 at 4:29 pm to skullhawk
quote:
Taxing unrealized gains is madness. How can anyone support such a stupid idea?
She has no intention of doing this and the Limousine Liberals know it. She's just throwing out red meat to the radical and "oppressed" faction of the Democrat Party to make sure they show up to vote in November. She will instantly change her tune if elected.
Biden did the same thing in 2020. Then in 2021 it was "look folks, we looked into it and there just wasn't a way to make it work. Hang with us while we sort some things out."
If people like Buffet, Bezos, Zuckerberg et al genuinely thought Kamala was going to tax their ownership stake they would be up in arms, raising hell and launching a high profile public campaign against her. Instead they just sit there and quietly smirk.
It's amazing that they have coopted the wealthiest and poorest elements of our society into signing on to serve as deckmates on their sinking ship.
Posted on 8/20/24 at 4:30 pm to HailHailtoMichigan!
quote:
Wants to tax unrealized gains
Good. fricking. Luck.
The 16th Amendment:
quote:
The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.
When considering unrealized gains, there are two massive hurdles anyone trying to tax them must overcome: that unrealized gains aren't income and that it would be a direct tax, thus apportioned among the States (without an Amendment).
A gain in valuation isn't considered "income" until it's realized, thus unrealized gains cannot be taxed because they haven't actually been derived from anything. In other words, realization is a precondition for gains to be considered income. To quote Moore:
quote:
The tax imposed on the Moores’ unrealized capital gain is not an income tax within the meaning of the Sixteenth Amendment. It is instead a wealth tax, and wealth taxes are direct taxes, which must be apportioned among the States.
This is why I snicker at anyone claiming they will create a tax on unrealized capital gains; it would take a Constitutional Amendment to do it and that's simply not going to happen as any legislator (whether State or in Congress) voting for it, nor any PACs supporting such a legislator, would quickly find their donations drying up.
This post was edited on 8/20/24 at 6:24 pm
Posted on 8/20/24 at 4:34 pm to HailHailtoMichigan!
quote:they are economically illiterate, Democrats do not work or pay taxes.
Do some of her fans on here really think this will have no economic impact?
Posted on 8/20/24 at 4:34 pm to Bard
I'm about to have a bunch of unrealized losses too. Nevermind that I didn't buy the losing stocks, I could have
Posted on 8/20/24 at 4:38 pm to HailHailtoMichigan!
quote:
She wants our corporate income tax to be second highest in OECD
So prices will skyrocket once those are passed on the customer.
quote:
She wants highest cap gains tax in American history
So Americans who were responsible enough to save for their own retirement are punished.
quote:
Wants to tax unrealized gains
UNREALIZED gains being the key. They want to tax you on income you haven't even made yet.
She is not just a communist. She is an imbecile.
Posted on 8/20/24 at 4:43 pm to HailHailtoMichigan!
What's wrong with a 25% tax on something you may or may not actually see in your bank account one day?
Posted on 8/20/24 at 4:46 pm to Bard
quote:
Good. fricking. Luck.
The 16th Amendment:
Don't let them know. Let them fight for this tax proposal.
Posted on 8/20/24 at 4:46 pm to HailHailtoMichigan!
"High-net-worth" = you have more than $1,000 in your bank accounts combined.
Government has become nothing but corrupt thieves stealing our $ at every single level.
And every year, you get less and less from the government too. These criminals let the entire infrastructure and economy crumble despite trillions and trillions of more taxpayer money.
Government has become nothing but corrupt thieves stealing our $ at every single level.
And every year, you get less and less from the government too. These criminals let the entire infrastructure and economy crumble despite trillions and trillions of more taxpayer money.
Posted on 8/20/24 at 4:50 pm to AUFANATL
I’ll say it… she’s throwing red meat to the stupid and uninformed faction of her party.
This post was edited on 8/20/24 at 4:54 pm
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