here comes the tax increase number one 43.4 Percent on capital gains

Concart said:
Quote Originally Posted by Althea View Post
It's not what you make. It's how you spend it. People like us generate demand.
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Exactly. Not sure why the supply side folks don't get this.
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I think you must be confused.....taking money from people and giving it to the government doesn't put money in the hands of people like you.......unless you're one of those people living off the government, that is....
 
Poor Richard Saunders said:
OMG. You are really an idiot. You don't owe any tax when you sell losing stocks since you have a capital loss.

That capital loss can be used to offset any capital gains.
If you lost $1M on GME this past year you could sell your APPL stock that has $1M in profits and owe ZERO in capital gains taxes. Any Capital loss not offset by gains this year would carry over to future years to be used to offset any future gains.
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Still fumbling Dick. Thank god for google in your case. Poor old broke Dick.
 
Sailor said:
Why are you giving the definition for a democrat Jack? No need to that. Quite apparent! HA!
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"The Merriam-Webster Dictionary deemed it probably based on the German Scheißer (literally "defecator", "shitter"[2]). A book published in 2013 traces the first use back to 1843, when scammers in New York City would exploit prisoners by pretending to be lawyers."
https://en.wikipedia.org/wiki/Shyster

"pretending to be lawyers"

This fits PMP to a T.
 
The wealth gap is worse than during the guided age. Since Reagan, we have slashed tax rates on the wealthy over and over while passing tax breaks for them. Our wealth gap is obscene. We have a long way to go before the wealthy can feel it at all. They just do not want to pay and they get the most out of the government's services too.
 
Sailor said:
Of course not Dick. Not everyone holds on to losing stocks like yourself. You know, that whole one share of some penny stock. Maybe.
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Id imagine the people who earn millions in the stock market are holding onto stocks that have relatively stable value and are savvy enough to offload the risky ones first (up till the 1 m cap) before the stable ones.
 
This is interesting as Im not sure how it will actually affect things. On the one hand you have the anti who say this wont even be able to collect any funds on the other you have the pro who believe you can double the tax of something with no ill effects.

One question though. If you raise the taxes of Capital Gains in the US to this amount cant the investor class just buy stocks and other financial instruments in London and other places and not get taxed? As I understand it the average of Europe for example is 20%.
 
PostmodernProphet said:
not to mention knowing which forms to fill in........I am a civil lawyer........I do prepare documents......however I make my own forms and use mail merge.......my clients keep coming back so I guess they are happier about it than you are......
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I guess no one has ever complained about the will you did for them after it went through probate. :thinking:
 
PostmodernProphet said:
the general rule of thumb is that ever dollar generated in the sale of a capital asset generates $7.50 in the economy before it slows down.......a person buys something for $100k.......the seller turns around and spends $100k.......those sellers do the same...etc, etc, etc, 1/2 an etc........
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Whose thumb are you using for this? If the money is used to buy another asset it does not generate anything.

Of course you have to consider that for every capital asset sold there is a tax paid that generates economic activity when the government spends it. Perhaps that is where the economic activity really comes from on capital asset sales.
 
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