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re: Who actually believes that they can tax the rich ?
Posted on 8/5/26 at 10:00 am to RohanGonzales
Posted on 8/5/26 at 10:00 am to RohanGonzales
quote:
Tell us dumbass, when someone is taxed on an unrealized gain one year, then the gain goes away completely the next year, how do they get their money back?
You, also, are no expert on finance…
Rather than selling assets to fund their lifestyle—which would trigger capital gains taxes—they use securities-based lines of credit (SBLOCs) or cash-out refinancing to borrow cash against their assets. Because loan proceeds are debt and not income, they incur zero income or capital gains
When the owner passes away, the assets are transferred to their heirs, triggering a step-up in cost basis to current market value. The heirs can then sell a small portion of the inherited assets at the new cost basis to pay off the bank loans without paying capital gains taxes on decades of accumulated growth.
This post was edited on 8/5/26 at 10:04 am
1
Posted on 8/5/26 at 10:09 am to BugAC
quote:
They don't realize that no matter how much shite you take from the producers, the left will always be miserable failures, and the producers will always be the winners.
Spot on. Producers always find a way to have something of real value. They make the tradeoffs and sacrifices necessary to obtain that value, so they'll always be viewed as having more. Typical of the "haves" vs "have nots"/The Ant and the Grasshopper struggle.
Posted on 8/5/26 at 10:13 am to bopper50
The problem is that the definition of "The Rich" keeps expanding
Posted on 8/5/26 at 10:30 am to Tigahs24Seven
quote:
Bottom 90 percent of earners: Pay about 28% to 30% of total federal income taxes combined.
I would be surprised if this figures in all those with a negative federal income tax burden.
Posted on 8/5/26 at 11:10 am to Tigahs24Seven
quote:
The rich already get taxed up the arse, accountants, or not. What they ever living frick do the uninformed "victim mentality" people want?
Communism
Posted on 8/5/26 at 11:13 am to bopper50
I actually don’t disagree with you really. Dems have a talking point about taxing billionaires - but even those fantasies would do little for the budget.
Essentially both parties want to cut taxes and expand government spending.
Republicans get zero credit for any budgetary responsibility tho. Just look at spending levels, debt and deficit. And oh by the way they are constantly trying to make it worse:
It’s quite hopeless. Which I guess is why we would rather focus on all the BS issues that constitute most of traffic on this forum.
Essentially both parties want to cut taxes and expand government spending.
Republicans get zero credit for any budgetary responsibility tho. Just look at spending levels, debt and deficit. And oh by the way they are constantly trying to make it worse:
Loading Twitter/X Embed...
If tweet fails to load, click here. It’s quite hopeless. Which I guess is why we would rather focus on all the BS issues that constitute most of traffic on this forum.
Posted on 8/5/26 at 11:49 am to Violent Hip Swivel
quote:
I don't know enough about finance
That much is abundantly clear.
Posted on 8/5/26 at 12:00 pm to Violent Hip Swivel
quote:
I don't know enough about finance to know how it works exactly, but that's the gist of it.
Tax avoidance vs tax evasion, smart people understand and utilize avoidance. Morons like you just complain...
Posted on 8/5/26 at 12:29 pm to Violent Hip Swivel
quote:
Rather than selling assets to fund their lifestyle—which would trigger capital gains taxes—they use securities-based lines of credit (SBLOCs) or cash-out refinancing to borrow cash against their assets. Because loan proceeds are debt and not income, they incur zero income or capital gains When the owner passes away, the assets are transferred to their heirs, triggering a step-up in cost basis to current market value. The heirs can then sell a small portion of the inherited assets at the new cost basis to pay off the bank loans without paying capital gains taxes on decades of accumulated growth.
So your gripe is about people not paying capital gains taxes on assets that were bought with money already taxed (income) and paid sales taxes on (tangible assets), paid property taxes on, ad valorem taxes on, fees, etc? Under a transfer that requires someone to actually die to work? Really?
Those assets have generated years of taxes. And the property taxes have risen with the increase in value you refer to.
Yet, for some reason, we never hear any gripes about the """"earned"""" income tax credit that is paid to people that rarely pay any income taxes at all. And that's yearly. In the name of "fairness" of course.
This post was edited on 8/5/26 at 12:33 pm
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