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re: “The rich avoid tax by taking loans against their stocks!”
Posted on 6/13/26 at 5:19 pm to Penrod
Posted on 6/13/26 at 5:19 pm to Penrod
quote:
You have a valid fairness point here. However, the overall point, that the rich use loans to defer paying capital gain
I am far from the person that has too much money
But I did borrow against my stocks but that transaction is completely separate and apart from capital gains
I also had to pay it back or lose the stocks and I do not believe that I deducted the interest payment for that versus the home equity
0
Posted on 6/13/26 at 5:30 pm to udtiger
Elon Musk don't give a shite about you, snowflake 
Posted on 6/13/26 at 5:30 pm to Ag Zwin
quote:
Should a person that pulls cash out of their house with a HELOC pay taxes on that money?
I think it should be taxable once you exceed your basis
Posted on 6/13/26 at 5:34 pm to theballguy
quote:
Elon Musk don't give a shite about you, snowflake
I don't care. Neither you, nor I, have any right to a dime of his money.
Posted on 6/13/26 at 6:14 pm to Ag Zwin
quote:We do.
“The rich avoid tax by taking loans against their stocks!”
Posted on 6/13/26 at 6:22 pm to soonerinlOUisiana
quote:
It doesn’t. Your tax basis is increased to the value at death.
You just contradicted yourself and showed I’m right.
Property with a massive tax liability are suddenly free and clear when you die.
This has nothing to do with estate taxes.
Posted on 6/13/26 at 7:02 pm to Ag Zwin
quote:
I’ll probably be blocked any minute now.
I just received word from “them” and they said to leave your posts alone for now.
That said, it has been mentioned that you’re on incredibly thin ice and it would be a shame if there was an…accident…in your future.
Posted on 6/13/26 at 7:14 pm to Penrod
quote:
What is their fair share?
Same percentage as what I pay. At a minimum.
Posted on 6/13/26 at 7:23 pm to Ag Zwin
Such a dumb thing to whine about. Anything with a decent retirement account could get a liquidity access line.
Posted on 6/13/26 at 7:40 pm to Ag Zwin
The bad news for us and the good news for the communists is that the vast majority of the US public doesn't have the brainpower to understand simple financing.
Every middle class liberal with a house can take a loan out and they would go absolutely insane if they had to pay taxes on that loan. The problem for middle class liberals is that poor liberals don't give a shite. Even worse for them is that super wealthy liberals also don't care about taxing the middle class to death. They want the loan taxed just like one of these days, liberals will tax unrealized gains.
Every middle class liberal with a house can take a loan out and they would go absolutely insane if they had to pay taxes on that loan. The problem for middle class liberals is that poor liberals don't give a shite. Even worse for them is that super wealthy liberals also don't care about taxing the middle class to death. They want the loan taxed just like one of these days, liberals will tax unrealized gains.
Posted on 6/13/26 at 7:58 pm to BurlesonCountyAg
quote:
Trump can fix this by allowing people of color to invest in the stock market
Can they not now?
Posted on 6/13/26 at 8:12 pm to theballguy
quote:
Same percentage as what I pay. At a minimum.
Why?
Posted on 6/13/26 at 8:30 pm to theballguy
You answered,
I would answer...I should pay the same percentage they pay as a maximum.
Edit...After thinking on it a little, you have one way of looking at the percentage paid for taxes, I have another. I think neither of us are wrong in what we believe. Maybe we should just adopt "The Fair Tax" as an equitable solution. Then everyone pays an equal and "fair share" regardless of net financial wealth.
quote:
Same percentage as what I pay. At a minimum.
I would answer...I should pay the same percentage they pay as a maximum.
Edit...After thinking on it a little, you have one way of looking at the percentage paid for taxes, I have another. I think neither of us are wrong in what we believe. Maybe we should just adopt "The Fair Tax" as an equitable solution. Then everyone pays an equal and "fair share" regardless of net financial wealth.
This post was edited on 6/13/26 at 9:12 pm
Posted on 6/13/26 at 8:33 pm to andoman
Not sure the question is being answered very well. I've had Heloc's since the '80's. They were great when the interest was tax deductible. With that I used Heloc money to buy a car, a camp, whatever. Not tax deductible anymore but still a good vehicle to use when buying something on time..
You still have to pay the loan back with interest using taxable money. Now as a wealth builder one could argue it's wise to borrow that money to purchase an appreciating asset like a stock or a piece of land. It's just a good financial decision.
I don't think it's in any way unfair to anybody to use this strategy. Many people who aren't financially astute take money out of their retirement accounts to fund purchases they think they need when they would be so much better served by using a Heloc or non tax deferred assets as collateral.
You still have to pay the loan back with interest using taxable money. Now as a wealth builder one could argue it's wise to borrow that money to purchase an appreciating asset like a stock or a piece of land. It's just a good financial decision.
I don't think it's in any way unfair to anybody to use this strategy. Many people who aren't financially astute take money out of their retirement accounts to fund purchases they think they need when they would be so much better served by using a Heloc or non tax deferred assets as collateral.
This post was edited on 6/13/26 at 8:37 pm
Posted on 6/13/26 at 8:46 pm to Penrod
quote:This isn't legal unless they're waiting the required 30 day waiting period necessary to allow the loss offset. I'm sure that's what you meant.
my managers will harvest losses to offset some of the gains and then reinvest in similar stocks so I don’t lose out on the opportunity of the low share prices
Posted on 6/13/26 at 8:56 pm to dovehunter
How you answered is a perfect example of how the rich get richer, and the not so rich stay not so rich.
People with money, and some without but will have, study how money is used to work and grow. Not so rich people don't study how and why to invest. There are many reasons they don't, and not faulting them. Life and living demand most of their effort and time.
People with money, and some without but will have, study how money is used to work and grow. Not so rich people don't study how and why to invest. There are many reasons they don't, and not faulting them. Life and living demand most of their effort and time.
Posted on 6/13/26 at 9:00 pm to Ag Zwin
Want complain about tax laws fine complain about the laws, don’t complain about people that mitigate their tax laws.
It’s immoral to think that I can legally mitigate my tax liability but somehow a millionaire, billionaire or not trillionaire isn’t afforded the same rights because of their scale.
Covetousness is an absolute sin.
It’s immoral to think that I can legally mitigate my tax liability but somehow a millionaire, billionaire or not trillionaire isn’t afforded the same rights because of their scale.
Covetousness is an absolute sin.
Posted on 6/13/26 at 9:10 pm to holdem Tiger
quote:
You just contradicted yourself and showed I’m right. Property with a massive tax liability are suddenly free and clear when you die. This has nothing to do with estate taxes.
Sorry, but you have no clue what the frick you’re talking about. It has everything to do with estate taxes and capital gain, or rather eliminating capital gain.
This post was edited on 6/13/26 at 9:13 pm
Posted on 6/13/26 at 9:25 pm to Ag Zwin
Wait until yall find out what you can do with whole life insurance.
This post will instantly separate those that have money and those that listen to Dave Ramsey.
This post will instantly separate those that have money and those that listen to Dave Ramsey.
Posted on 6/13/26 at 9:39 pm to Bob_Sugar
Dave Ramsey gives some really bad advice which is swallowed by low IQ individuals.
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