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

[Althea]

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?

And most CEOs are compensated with stock options. They hold them for 366 days and then pay long term cap gains. As such, nothing matters more than share price. Firing employees always tends to increase share price, so as has been stated in this thread...a strong market is often in inverse proportion to a healthy economy

 

[Concart]

It's not what you make. It's how you spend it. People like us generate demand.

Exactly. Not sure why the supply side folks don't get this.

 

[Truth Detector]

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

https://news.yahoo.com/biden-reportedly-plans-nearly-double-194759637.html

that will really encourage people to invest in stocks and real estate and build a business up so they can sell it and make money

It goes much further than just this. The Green New Deal, taxes, trying to stack the Supreme Court, adding left leaning states, passing unconstitutional voting requirements, etc etc.

No one can act surprised that all the things Joe LIED about in the primary and during his campaign are now desperate efforts being enacted.

Dems can see 2022 coming and it is not going to bode well for them. They think they can shove their agenda down everyone's throats without bi-partisan agreement and along party line voting before then.

 

[Truth Detector]

The man is an idiot.

He's so much more. He's dishonest, a liar and suffering from onset dementia. The person behind the curtain is Kamala, Pelosi and Psaki.

 

[Truth Detector]

I really am an idiot.

Truer words were never typed by you.

That rate would be for cap gains earnings over $1 million.

It doesn't really matter where they are capped; taxation has NEVER led any nation into prosperity. The idea that we are not taxed enough is an idiots argument lacking in honesty, factual content and sanity. Try to be less stupid.

 

[Truth Detector]

Capital gains taxes are the easiest to avoid.

Example?

 

[Poor Richard Saunders]

Example?

Hey Poopiehead, I see you still haven't paid off your bet you made about the election.

Reading isn't your strong suit is it, Poopiehead. But then paying off on your bets isn't your strong suit either, eh Poopiehead? And thinking seems to not be a strong suit for you either.

 

[PostmodernProphet]

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.

you don't think it's smart for real estate investors to dodge capital gains?......

 

[PostmodernProphet]

Part of God's Work?

absolutely.....I frequently tell my clients they have a moral obligation to keep money out of Washington.......

 

[PostmodernProphet]

Thanks for the Update. (I always thought of PMP as a Bail Bondsman)

you must need those frequently.....

 

[PostmodernProphet]

Do you know the difference between income from capital gains and income from retail sales?

not surprisingly, yes.....did you know the reason behind 1031 exchanges was to prevent stagnation of the economy?......

 

[PostmodernProphet]

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.

dude, the idea is to sell the stock when it looks to be slowing, not after its dropped to less than you bought it for......is this why you're broke?......

 

[PostmodernProphet]

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?

good point.....that's why all pensions should be taxed.......

 

[PostmodernProphet]

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.

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......

 

[PostmodernProphet]

It may or it may not. I would suggest it won't affect how they invest since you only pay capital gains taxes when you sell the investment.

even the IRS know that higher capital gains taxes mean fewer sales of capital assets and therefore less tax revenue.....

 

[PostmodernProphet]

Myth, Lafer curve, the last twenty years prove it bogus

lol....no.....not a myth.....

 

[PostmodernProphet]

It's worse than that. They don't reinvest to 'create jobs'. They are just buying and selling pieces of paper. That creates exactly zero jobs.

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........

 

[PostmodernProphet]

Correct. Once the initial offering is made, the company issuing the stock has gotten their money. That stock will be bought and sold hundreds of times without a single impact to the issuer. The other area where capital gains comes into play is dividend income (which is near and dear to my heart). I can hold my stocks for as long as I want, but after a year, the dividends I receive are considered long term capital gains and taxed at the appropriate rate (in my case, zero on the first 40K or so, 15% on the next 400K or so and then 20% for the rest). The only thing this proposal changes is that the rate goes to 39 percent on income that exceeds 1 million dollars.

Personally, I've had over a million in capital gains only once, and that was a unique set of circumstances (a large holding called at a price that was way higher than I paid for it).

not correct.....a person may sell stock and buy real estate, or a car, or a child's education.......maybe they are selling stock out of their pension fund and taking a cruise, or paying nursing home expenses.......maybe they are just buying next week's groceries.......whatever they spend it on it is what we call "the economy"........even if they are just buying more stock it doesn't mean that person isn't spending it on something other than stock......

 

[PostmodernProphet]

It's not what you make. It's how you spend it. People like us generate demand.

people like you get money from social service agencies.......

 

[PostmodernProphet]

And most CEOs are compensated with stock options. They hold them for 366 days and then pay long term cap gains. As such, nothing matters more than share price. Firing employees always tends to increase share price, so as has been stated in this thread...a strong market is often in inverse proportion to a healthy economy

so stop that instead of increasing capital gains taxes.......you people always opt for solutions that are worse than the problem.......