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

Bulletbob said:
Really no shit sherlock. You see dumb ass the top earners create tons of jobs by reinvesting money take more from them they have less to spend and invest .daaa your a idiot
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Idiot. Cap gains are earned via purchase and sale of equities and real estate.
 
Poor Richard Saunders said:
Actually, it's your statements that scream that you are a broke ass fuck.

Someone that has $1M in earnings doesn't have to sell anything to live on. They can simply move their earnings from one year to the next by deciding when they sell an asset to keep their capital gains under the $1M floor.
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Or live off of the dividends
 
Don't worry Bob, you won't make enough money in your lifetime to get to that point. Long term capital gains taxes need to go up, especially on very wealthy individuals. It is often their only source of income. The idea that this puts ANY burden on middle class or upper middle class taxpayers is laughable.

Almost my entire income is from long term capital gains. I'm am making more from those sources of income than I ever made in salary. I would be unaffected by this, and would continue to pay 20% plus the Medicare kicker, which is what I pay now. That is FAR below what my income would be taxed at if it was treated as ordinary income.

So stop whining about proposals you don't understand. None of the Trumptards here are going to have anywhere near a million dollars in income. Especially you Bobby.
 
Jack said:
Part of God's Work?
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From time to time he claims he's a lawyer. If it's true that's most likely an ambulance chaser. 1031's are just capital gains tax dodges for real estate investors. He's pretending to be smart again.
 
Concart said:
From time to time he claims he's a lawyer. If it's true that's most likely an ambulance chaser. 1031's are just capital gains tax dodges for real estate investors. He's pretending to be smart again.
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Thanks for the Update. (I always thought of PMP as a Bail Bondsman)
 
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Concart said:
Today, tomorrow and next year. There is no increase in the Biden proposal TODAY for anyone making less than a million dollars a year in long term capital gains.
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I say again ... TODAY ... hojo can't tell the same story twice in a row without screwing it up. It's why peesaki has to clarigy his babble EVERY DAY he speaks.

However ... YOU wiil continue to gobble the dim pablum
 
Grumpy said:
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I say again ... TODAY ... hojo can't tell the same story twice in a row without screwing it up. It's why peesaki has to clarigy his babble EVERY DAY he speaks.

However ... YOU wiil continue to gobble the dim pablum
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So, you are whining about an imaginary event that might occur sometime in the future but you have no idea.

Okay, carry on. Whine some more, loser.
 
Poor Richard Saunders said:
Do you know the difference between income from capital gains and income from retail sales?

It's funny how when calculating GDP and GDP growth there isn't a category for capital gains. Whether people sell or don't sell an investment doesn't really affect economic growth.
https://www.bea.gov/sites/default/files/2021-03/gdp4q20_3rd.pdf
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Correct. People who buy and sell stocks are adding zero value to the economy. They are simply gambling, and they don't want their winnings taxed at regular income levels. I get it, because I am making a killing on it. And I will continue to do so. The fact is, Biden's plan doesn't go far enough, because a guy like me is unaffected.
 
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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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.
 
Concart said:
Correct. People who buy and sell stocks are adding zero value to the economy. They are simply gambling, and they don't want their winnings taxed at regular income levels. I get it, because I am making a killing on it. And I will continue to do so. The fact is, Biden's plan doesn't go far enough, because a guy like me is unaffected.
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You have to hold the investment for at least a year to get the reduced Capital gains rate. Short term gains are taxed at regular income tax rates. I wouldn't consider someone that holds an investment for a year or longer to be gambling. They are investing but the question becomes why should people that earn money one way be treated differently than those that work for a living?
 
Concart said:
From time to time he claims he's a lawyer. If it's true that's most likely an ambulance chaser. 1031's are just capital gains tax dodges for real estate investors. He's pretending to be smart again.
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I think PMP is a civil lawyer that does documents. The kind of thing where he can just pull up a pre-made will or other form and fill in a few blanks. It doesn't take any skill or actual knowledge of the law. You just have to know whose name goes in which blank.
 
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