User Panel
User Panel
User Panel
|
Posted: 1/21/2021 9:56:44 PM EDT
[#1]
No, but it is a surefire way to kill the economy. Why bother owning assets if inflation will be taxed.
Nothing will kill an economy like deflation. This will cause that. |
|
|
|
Posted: 1/21/2021 9:59:44 PM EDT
[#2]
I’m sure the government will pay you for unrealized losses...right?
|
|
|
|
Posted: 1/21/2021 9:59:53 PM EDT
[#3]
The trick is that most people will be forced to sell some off their holdings to have the $$ to pay the tax. Which means there will be a constant annual forced sell off, driving down the stock market.
|
|
|
|
Posted: 1/21/2021 10:02:18 PM EDT
[#4]
Talked about for a long time.
|
|
|
|
Posted: 1/21/2021 10:04:59 PM EDT
[#5]
Quote HistoryQuoted: The trick is that most people will be forced to sell some off their holdings to have the $$ to pay the tax. Which means there will be a constant annual forced sell off, driving down the stock market. That's not quite the goal. My guess is they want to do that to concentrate the stock ownership. It force a gradual trickle up of asset ownership. You'll own nothing and you'll be happy. |
|
|
|
Posted: 1/21/2021 10:05:10 PM EDT
[#6]
Quoted: Is an "unrealized" capital gains tax a backdoor into our 401k's?? It is insidious, as we would not see it. https://www.reuters.com/article/us-usa-biden-yellen/act-big-now-to-save-economy-worry-about-debt-later-yellen-says-in-treasury-testimony-idUSKBN29O1WX i noted with interest your clickbait thread title. a 401k -- like an tradIRA, 403b, and similar vehicles -- is a tax-advantaged container which buffers taxes on held investments until a later date, when presumably the account owner is in a more advantageous tax situation. explain now how "taxing unrealized gains" would affect securities held inside such a tax-advantaged container. go slowly and use small words so i can understand completely. |
|
|
|
Posted: 1/21/2021 10:05:12 PM EDT
[#7]
The founding fathers would be [CoC Violation]-ing folks about now.
|
|
|
|
Posted: 1/21/2021 10:08:29 PM EDT
[#8]
Quote HistoryQuoted: Talked about for a long time. And the discussion has been about...and has resulted in...great points! Yeesh, man.
|
|
|
|
Posted: 1/21/2021 10:09:39 PM EDT
[#9]
It's like they're taking a sledgehammer to the economy's foundation. They're TRYING to crash the economy. I think this is the end of the country.
|
|
|
|
Posted: 1/21/2021 10:10:44 PM EDT
[#10]
she is so clueless on how the economy really works it is scary.
|
|
|
|
Posted: 1/21/2021 10:10:56 PM EDT
[#11]
Quote HistoryQuoted: i noted with interest your clickbait thread title. a 401k -- like an tradIRA, 403b, and similar vehicles -- is a tax-advantaged container which buffers taxes on held investments until a later date, when presumably the account owner is in a more advantageous tax situation. explain now how "taxing unrealized gains" would affect securities held inside such a tax-advantaged container. go slowly and use small words so i can understand completely. Quote HistoryQuoted: Quoted: Is an "unrealized" capital gains tax a backdoor into our 401k's?? It is insidious, as we would not see it. https://www.reuters.com/article/us-usa-biden-yellen/act-big-now-to-save-economy-worry-about-debt-later-yellen-says-in-treasury-testimony-idUSKBN29O1WX i noted with interest your clickbait thread title. a 401k -- like an tradIRA, 403b, and similar vehicles -- is a tax-advantaged container which buffers taxes on held investments until a later date, when presumably the account owner is in a more advantageous tax situation. explain now how "taxing unrealized gains" would affect securities held inside such a tax-advantaged container. go slowly and use small words so i can understand completely. They'll probably take the simple way out and force you to fill out forms that will determine how much money you owe them. 
|
|
|
|
Posted: 1/21/2021 10:12:05 PM EDT
[#12]
Quote HistoryQuoted: The trick is that most people will be forced to sell some off their holdings to have the $$ to pay the tax. Which means there will be a constant annual forced sell off, driving down the stock market. |
|
|
|
Posted: 1/21/2021 10:12:16 PM EDT
[#13]
So unreality.
|
|
|
|
Posted: 1/21/2021 10:12:19 PM EDT
[#14]
Quote HistoryQuoted: i noted with interest your clickbait thread title. a 401k -- like an tradIRA, 403b, and similar vehicles -- is a tax-advantaged container which buffers taxes on held investments until a later date, when presumably the account owner is in a more advantageous tax situation. explain now how "taxing unrealized gains" would affect securities held inside such a tax-advantaged container. go slowly and use small words so i can understand completely. Quote HistoryQuoted: Quoted: Is an "unrealized" capital gains tax a backdoor into our 401k's?? It is insidious, as we would not see it. https://www.reuters.com/article/us-usa-biden-yellen/act-big-now-to-save-economy-worry-about-debt-later-yellen-says-in-treasury-testimony-idUSKBN29O1WX i noted with interest your clickbait thread title. a 401k -- like an tradIRA, 403b, and similar vehicles -- is a tax-advantaged container which buffers taxes on held investments until a later date, when presumably the account owner is in a more advantageous tax situation. explain now how "taxing unrealized gains" would affect securities held inside such a tax-advantaged container. go slowly and use small words so i can understand completely. If they tax income you haven't realized, how hard is it to believe that the tax advantaged accounts are next? |
|
|
|
Posted: 1/21/2021 10:13:09 PM EDT
[#15]
Quote HistoryQuoted: Nothing will kill an economy like deflation. This will cause that. We are long past due for a round of deflation, let’s get it over with. Edit: don’t confuse this with agreement with the policy. It is more of a let’s get this deflation party started. |
|
|
|
Posted: 1/21/2021 10:13:11 PM EDT
[#16]
Quote HistoryQuoted: No, but it is a surefire way to kill the economy. Why bother owning assets if inflation will be taxed. Nothing will kill an economy like deflation. This will cause that. Couldn’t have said it better except Pedo Joe wants to show NObama the Great Recession was so good that he will now make the Greatest Depression. |
|
|
|
Posted: 1/21/2021 10:13:25 PM EDT
[#17]
Quote HistoryQuoted: i noted with interest your clickbait thread title. a 401k -- like an tradIRA, 403b, and similar vehicles -- is a tax-advantaged container which buffers taxes on held investments until a later date, when presumably the account owner is in a more advantageous tax situation. explain now how "taxing unrealized gains" would affect securities held inside such a tax-advantaged container. go slowly and use small words so i can understand completely. You realize they can just change the 401k law to remove that tax advantage, right? |
|
|
|
Posted: 1/21/2021 10:14:25 PM EDT
[#18]
No more hedge fund carried interest. You’d think they’d target that first....it’s a scam
|
|
|
|
Posted: 1/21/2021 10:14:40 PM EDT
[#19]
Quote HistoryQuoted: It's like they're taking a sledgehammer to the economy's foundation. They're TRYING to crash the economy. I think this is the end of the country. That's incorrect. If "they" we trying to crash the economy, they would raise interest rates. There is no such thing going on. Yellen has said she wants to keep rates low low low and print print print for evah. |
|
|
|
Posted: 1/21/2021 10:14:44 PM EDT
[#20]
Quote HistoryQuoted: i noted with interest your clickbait thread title. a 401k -- like an tradIRA, 403b, and similar vehicles -- is a tax-advantaged container which buffers taxes on held investments until a later date, when presumably the account owner is in a more advantageous tax situation. explain now how "taxing unrealized gains" would affect securities held inside such a tax-advantaged container. go slowly and use small words so i can understand completely. Quote HistoryQuoted: Quoted: Is an "unrealized" capital gains tax a backdoor into our 401k's?? It is insidious, as we would not see it. https://www.reuters.com/article/us-usa-biden-yellen/act-big-now-to-save-economy-worry-about-debt-later-yellen-says-in-treasury-testimony-idUSKBN29O1WX i noted with interest your clickbait thread title. a 401k -- like an tradIRA, 403b, and similar vehicles -- is a tax-advantaged container which buffers taxes on held investments until a later date, when presumably the account owner is in a more advantageous tax situation. explain now how "taxing unrealized gains" would affect securities held inside such a tax-advantaged container. go slowly and use small words so i can understand completely. ahh, because i don't know, so I posed the question. If I could explain it, then I wouldn't need to ask. JFC. I was wondering if the "unrealized" was a method to get into your tax advantaged container. |
|
|
|
Posted: 1/21/2021 10:16:48 PM EDT
[#21]
From the article
Treasury would consider the possibility of taxing unrealized capital gains - through a “mark-to-market” mechanism Why would anyone invest in the markets? Will they come for un realized land and Home appreciation next ? |
|
|
|
Posted: 1/21/2021 10:17:45 PM EDT
[#22]
Imagine - this will be a national property tax. Wait, isn't that what the north did to the south during reconstruction?
Flip side, if they omit real property - then we get a fucking bubble the size of the moon. |
|
|
|
Posted: 1/21/2021 10:18:45 PM EDT
[#23]
lol
but they can never ever change the TAX CODE lmao |
|
|
|
Posted: 1/21/2021 10:19:04 PM EDT
[#24]
Or an untaxed capital gain is the increase in the value of your home. Let's say you bought your home thirty years ago for 75 thousand, and now it is worth 1 million. Do you happen to have enough cash sitting around to pay capital gains on 925 thousand? I guess you could sell some stocks, oh wait some of that is gone also. Welcome to the Great Reset. After all, the home is the greatest asset of the middle class.
|
|
|
|
Posted: 1/21/2021 10:19:07 PM EDT
[#25]
Quote HistoryQuoted: ahh, because i don't know, so I posed the question. If I could explain it, then I wouldn't need to ask. JFC. I was wondering if the "unrealized" was a method to get into your tax advantaged container. Your OP was clearly posed as a question. Some people just can’t pass up an opportunity, real or not, to show the world how smart they are. |
|
|
|
Posted: 1/21/2021 10:20:41 PM EDT
[#26]
Quote HistoryQuoted: i noted with interest your clickbait thread title. a 401k -- like an tradIRA, 403b, and similar vehicles -- is a tax-advantaged container which buffers taxes on held investments until a later date, when presumably the account owner is in a more advantageous tax situation. explain now how "taxing unrealized gains" would affect securities held inside such a tax-advantaged container. go slowly and use small words so i can understand completely. Thats simple change the rules. As simple as they tax you gains at a small %, say 10% of the gain. You start off with 250k of contributions, lets say you make an even 10% gain in a year. Thats 25k taxed at 10%, so your gain is actually 22.5k after this tax. They will say its fair, because you still have more than you did. even if you did not cash out. Now you have to come up with 2500 cash to pay your tax. If the market has a bad year and you make no money you pay no taxes. If you loose money they will follow the rules as now, you have a couple of years to write if off. So lets say you lost 10k this year, but next year you made the 25k again.They would say your gains are not 25k-10k so 15k. 10 % of the 15k is now your new tax for that year. |
|
|
|
Posted: 1/21/2021 10:24:28 PM EDT
[#27]
I predict any move in that direction would assure a GOP landslide. I hope the Dems try it. Please please please.
Lots of Dems have 401Ks too. |
|
|
|
Posted: 1/21/2021 10:25:35 PM EDT
[#28]
Slightly off topic, but Biden also wants to put section 8 on every street. Talk about an asset killer.
|
|
|
|
Posted: 1/21/2021 10:26:38 PM EDT
[#29]
The real kicker is if they cause inflation - people will be forced to sell property to pay taxes - when they actually have -0- increase in purchasing power. But the left will love it because most of the voters have no net worth.
This is a hell of a hill. Not really the one I expected first, but damn close to the same effect. If you take a person's house, or take their business - you create someone with not a whole lot left to control them. |
|
|
|
Posted: 1/21/2021 10:27:08 PM EDT
[#30]
Quote HistoryQuoted: i noted with interest your clickbait thread title. a 401k -- like an tradIRA, 403b, and similar vehicles -- is a tax-advantaged container which buffers taxes on held investments until a later date, when presumably the account owner is in a more advantageous tax situation. explain now how "taxing unrealized gains" would affect securities held inside such a tax-advantaged container. go slowly and use small words so i can understand completely. Quote HistoryQuoted: Quoted: Is an "unrealized" capital gains tax a backdoor into our 401k's?? It is insidious, as we would not see it. https://www.reuters.com/article/us-usa-biden-yellen/act-big-now-to-save-economy-worry-about-debt-later-yellen-says-in-treasury-testimony-idUSKBN29O1WX i noted with interest your clickbait thread title. a 401k -- like an tradIRA, 403b, and similar vehicles -- is a tax-advantaged container which buffers taxes on held investments until a later date, when presumably the account owner is in a more advantageous tax situation. explain now how "taxing unrealized gains" would affect securities held inside such a tax-advantaged container. go slowly and use small words so i can understand completely. Well we found the Biden supporters. You could google it or something. But I'm a dumb guy, so I can probably explain it to a dumb Biden supporter. Taxing unrealized gains means that you would be taxed on the gains that your investements make as if you sold them. So if you invest $100,000 and that investment goes up 10% (lots of zeros for you because threes and sevens are hard) you would have $110,000. You would then be taxed on the the gains ($10,000) at the capital gains tax rate (15/20%). Or possibly your tax rate if they push that thru; which could be worse. My investment accounts gained a lot this year. If I had to write a check for 15/20% of those gains, it would be killdozer time. Get it? |
|
|
|
Posted: 1/21/2021 10:27:47 PM EDT
[#31]
Quote HistoryQuoted: You realize they can just change the 401k law to remove that tax advantage, right? Quote HistoryQuoted: Quoted: i noted with interest your clickbait thread title. a 401k -- like an tradIRA, 403b, and similar vehicles -- is a tax-advantaged container which buffers taxes on held investments until a later date, when presumably the account owner is in a more advantageous tax situation. explain now how "taxing unrealized gains" would affect securities held inside such a tax-advantaged container. go slowly and use small words so i can understand completely. You realize they can just change the 401k law to remove that tax advantage, right? more scare tactics. change the 401k to remove the tax advantage. how does that work? how does it work for roth 401ks? basically what your are saying is that the democrats will simply do away with a person's ability to save for the future. thats not gonna fly. at least not in my lifetime. you would kill all kinds of things including the stock market and the us economy. its another gloom and doom black fantasy akin to civil war 2.0 and the roundup of white christians for termination because they are all terrorists. one wonders if there are, for lack of better terms, 'operatives' that inhabit forums similar to this one where conservatives tend to gather, and continually spin dark gloom and doom end-times scenarios in order to sew fear and loathing amongst the members. they are coming for your guns, then your lifes savings and finally you, to be processed into soylent green to feed the hordes of illegals pouring across the border daily in their millions.... in order to get the masses to vote democrat for all eternity.. and if you criticize such rumors, you are at best, a biden supporter, at worst an active party member of the chinese communist party who cant wait for the chinese to take control of this pitiful nation. shheeeseeee... |
|
|
|
Posted: 1/21/2021 10:30:58 PM EDT
[#32]
Honestly, I was expecting them to eventually try to nationalize certain industries - ones that I am HEAVILY invested in.
|
|
|
|
Posted: 1/21/2021 10:32:54 PM EDT
[#33]
Wait until they try the Bill/Hillary Clinton imputed income on your house trick again.
|
|
|
|
Posted: 1/21/2021 10:34:15 PM EDT
[#34]
Quote HistoryQuoted: The real kicker is if they cause inflation - people will be forced to sell property to pay taxes - when they actually have -0- increase in purchasing power. But the left will love it because most of the voters have no net worth. This is a hell of a hill. Not really the one I expected first, but damn close to the same effect. If you take a person's house, or take their business - you create someone with not a whole lot left to control them. If someone's starving I bet you could get them to do a lot for a pack of ramen |
|
|
|
Posted: 1/21/2021 10:36:29 PM EDT
[#35]
Quote HistoryQuoted: i noted with interest your clickbait thread title. a 401k -- like an tradIRA, 403b, and similar vehicles -- is a tax-advantaged container which buffers taxes on held investments until a later date, when presumably the account owner is in a more advantageous tax situation. explain now how "taxing unrealized gains" would affect securities held inside such a tax-advantaged container. go slowly and use small words so i can understand completely. I'll give it a shot. They will tax all things as soon as they can. |
|
|
|
Posted: 1/21/2021 10:36:46 PM EDT
[#36]
Could they do this to a 401k??... apply the tax to the owner of the fund. So for example, hit Vanguard with the tax on each fund based on its gain. That tax would come out of the fund share price, reducing the price value. However the fund participants would only see the net price change after the tax. Thus their fund would under perform, but the tax hit would not be obvious. And the lower returns would still grow tax free.
|
|
|
|
Posted: 1/21/2021 10:36:50 PM EDT
[#37]
Quote HistoryQuoted: i noted with interest your clickbait thread title. a 401k -- like an tradIRA, 403b, and similar vehicles -- is a tax-advantaged container which buffers taxes on held investments until a later date, when presumably the account owner is in a more advantageous tax situation. explain now how "taxing unrealized gains" would affect securities held inside such a tax-advantaged container. go slowly and use small words so i can understand completely. Quote HistoryQuoted: Quoted: Is an "unrealized" capital gains tax a backdoor into our 401k's?? It is insidious, as we would not see it. https://www.reuters.com/article/us-usa-biden-yellen/act-big-now-to-save-economy-worry-about-debt-later-yellen-says-in-treasury-testimony-idUSKBN29O1WX i noted with interest your clickbait thread title. a 401k -- like an tradIRA, 403b, and similar vehicles -- is a tax-advantaged container which buffers taxes on held investments until a later date, when presumably the account owner is in a more advantageous tax situation. explain now how "taxing unrealized gains" would affect securities held inside such a tax-advantaged container. go slowly and use small words so i can understand completely. The idea of a mark-to-market taxation is that the govt wants its money *now* instead of waiting to collect it when you retire and start pulling out of the account. So instead of being taxed later at the lower rate during retirement (the purpose of those accounts) they can force taxation during your higher earning years at higher rates. Honestly if they start doing that then there’s little reason to put money into those tax-deferred accounts and the resulting drag on equity markets will be a disaster. |
|
|
|
Posted: 1/21/2021 10:40:01 PM EDT
[#38]
Quote HistoryQuoted: Honestly, I was expecting them to eventually try to nationalize certain industries - ones that I am HEAVILY invested in. Week ain't over yet. Shit is gonna move quick. We have a date with a Great Reset and a POTUS who cares not about re-election (Passes on, 25thed or Dominioned) |
|
|
|
Posted: 1/21/2021 10:41:26 PM EDT
[#39]
Quote HistoryQuoted: I predict any move in that direction would assure a GOP landslide. I hope the Dems try it. Please please please. Lots of Dems have 401Ks too. This election has proven that dem voters give zero fucks about the name on the ballot, just the D next to it. |
|
|
|
Posted: 1/21/2021 10:41:33 PM EDT
[#40]
Quote HistoryQuoted: more scare tactics. change the 401k to remove the tax advantage. how does that work? how does it work for roth 401ks? basically what your are saying is that the democrats will simply do away with a person's ability to save for the future. thats not gonna fly. at least not in my lifetime. you would kill all kinds of things including the stock market and the us economy. its another gloom and doom black fantasy akin to civil war 2.0 and the roundup of white christians for termination because they are all terrorists. one wonders if there are, for lack of better terms, 'operatives' that inhabit forums similar to this one where conservatives tend to gather, and continually spin dark gloom and doom end-times scenarios in order to sew fear and loathing amongst the members. they are coming for your guns, then your lifes savings and finally you, to be processed into soylent green to feed the hordes of illegals pouring across the border daily in their millions.... in order to get the masses to vote democrat for all eternity.. and if you criticize such rumors, you are at best, a biden supporter, at worst an active party member of the chinese communist party who cant wait for the chinese to take control of this pitiful nation. shheeeseeee... lol no. I just think you’re incredibly naive. |
|
|
|
Posted: 1/21/2021 10:42:38 PM EDT
[#41]
Quote HistoryQuoted: Or an untaxed capital gain is the increase in the value of your home. Let's say you bought your home thirty years ago for 75 thousand, and now it is worth 1 million. Do you happen to have enough cash sitting around to pay capital gains on 925 thousand? I guess you could sell some stocks, oh wait some of that is gone also. Welcome to the Great Reset. After all, the home is the greatest asset of the middle class. RIP to the middle class, especially the older blue state middle class. Bet this week also brings talk of utterly confiscatory estate taxes. |
|
|
|
Posted: 1/21/2021 10:42:40 PM EDT
[#42]
Quote HistoryQuoted: i noted with interest your clickbait thread title. a 401k -- like an tradIRA, 403b, and similar vehicles -- is a tax-advantaged container which buffers taxes on held investments until a later date, when presumably the account owner is in a more advantageous tax situation. explain now how "taxing unrealized gains" would affect securities held inside such a tax-advantaged container. go slowly and use small words so i can understand completely. Quote HistoryQuoted: Quoted: Is an "unrealized" capital gains tax a backdoor into our 401k's?? It is insidious, as we would not see it. https://www.reuters.com/article/us-usa-biden-yellen/act-big-now-to-save-economy-worry-about-debt-later-yellen-says-in-treasury-testimony-idUSKBN29O1WX i noted with interest your clickbait thread title. a 401k -- like an tradIRA, 403b, and similar vehicles -- is a tax-advantaged container which buffers taxes on held investments until a later date, when presumably the account owner is in a more advantageous tax situation. explain now how "taxing unrealized gains" would affect securities held inside such a tax-advantaged container. go slowly and use small words so i can understand completely. A traditional IRA or 401k is tax advantaged on the income side. It has fuck all to do with capital gains (unlike a Roth, which makes up a small fraction of 401Ks). You’re taxed on those capital gains when you withdraw, why wouldn’t this apply to them now? Use small words so I can understand. |
|
|
|
Posted: 1/21/2021 10:50:10 PM EDT
[#43]
This would make investing in any meaningful size impossible for middle and lower class folks. It would be a mere annoyance for the rich.
Where are people who are stretching to make ends meet and put a little into retirement investments going to come up with the cash to pay the taxes? For the rich, it will simply be another cost on the cost benefit analysis scale when deciding what to invest in. Stocks are risky. Lower the reward and watch the capital available to these public companies dry up. Low yield is safe and low taxes. Looks more appealing than it did before. I bet banks start making better offers on interest accounts. |
|
|
|
Posted: 1/21/2021 10:54:04 PM EDT
[#44]
Quote HistoryQuoted: i noted with interest your clickbait thread title. a 401k -- like an tradIRA, 403b, and similar vehicles -- is a tax-advantaged container which buffers taxes on held investments until a later date, when presumably the account owner is in a more advantageous tax situation. explain now how "taxing unrealized gains" would affect securities held inside such a tax-advantaged container. go slowly and use small words so i can understand completely. They're tax deferred, as in the money you put into it (INCOME) isn't taxed at this time. "Unrealized capital gains" = positive growth of your investments. = if your $1 of XYZ is worth $1.10 next year, you'll be taxed on that $.10. ETA: In retrospect, I can't tell if you're honestly asking, a troll, or lead paint chips eating retarded. |
|
|
|
Posted: 1/21/2021 10:54:17 PM EDT
[#45]
Imagine this:
You buy 100,000 shares of FJB at .05 a share for 5k. It goes up to ten bucks and you have a million bucks! Yay! Then they tax you at 25% so you pay 250k in taxes. Next week FJB pulls an Enron and it goes to .05 and you sell for no loss but no gain either. Do you think you’ll get your 250k back? ETA: Imagine at tax time when all the FJB millionaires like you have to sell 25,000 shares at the same time to cover their tax payments. What do you think happens to the share price? |
|
|
|
Posted: 1/21/2021 10:57:06 PM EDT
[#46]
What exactly about that news article leads you to believe it's a tax on 401(k) capital gains? Vs. changing the tax structure on capital gains incurred in non-retirement investment accounts, accounts that see a very low tax burden now, and are disproportionally held by the extremely wealthy, who in many cases already pay a lower net tax burden relative to their wealth and gains?
Really, if you are a multi-millionaire, and you have a sizeable non-retirement market account, why are your gains (earnings) there taxed at a much lower rate than the basic income I use to cover my bills? I mean I get it - let's let the rich keep getting richer, and the rest of us stay where we are! The fact that people buy into this fear hysteria about socialism, as if the end goal of the Democratic party is to make the middle class carry a disproportionate amount of funding America is ridiculous. Taxing the middle class, and lower class is what we saw under the last administration. Shifting a little more of the burden to the wealthy is the focus of the Democratic party. I'd suggest you do a little more research, and a little less listening to talking heads. The one thing I know with certainty - I'm upper middle class, and Trumps "tax relief" package increased my net tax paid year over year. It certainly didn't reduce it. |
|
|
|
Posted: 1/21/2021 11:00:56 PM EDT
[#47]
Year to year you may be able to afford the tax, but the first year is the killer. All of the gain from the time of initial investment would kill the economy and wipe out the middle class. They have recently been trying to convince people that they will be happier if they do not have to worry about wealth or assets. You no longer have to worry about keeping up with home repairs. The theme has been floated quite a bit for the last year. And the ones now in power are true believers.
|
|
|
|
Posted: 1/21/2021 11:01:05 PM EDT
[#48]
Quote HistoryQuoted: I’m sure the government will pay you for unrealized losses...right? If things go the way they plan, they won't be able to. And yes this is one democrat plan that will work.  Edit; If the plan goes into effect there will be no turning back. If they take your property they have no way of replacing it, it's gone, kapooff. |
|
|
|
Posted: 1/21/2021 11:01:39 PM EDT
[#49]
Quote HistoryQuoted: I predict any move in that direction would assure a GOP landslide. I hope the Dems try it. Please please please. Lots of Dems have 401Ks too. That's cute. You think votes count. |
|
|
|
Posted: 1/21/2021 11:02:18 PM EDT
[#50]
if i put all my assets into bitcoin, and i dotn trade it and then i have un realized capital gains...then theres no way the govt can touch it or seize anything right?
since they dont have my private keys? |
|
|
Win a FREE Membership!
Sign up for the ARFCOM weekly newsletter and be entered to win a free ARFCOM membership. One new winner* is announced every week!
You will receive an email every Friday morning featuring the latest chatter from the hottest topics, breaking news surrounding legislation, as well as exclusive deals only available to ARFCOM email subscribers.
AR15.COM is the world's largest firearm community and is a gathering place for firearm enthusiasts of all types.
From hunters and military members, to competition shooters and general firearm enthusiasts, we welcome anyone who values and respects the way of the firearm.
Subscribe to our monthly Newsletter to receive firearm news, product discounts from your favorite Industry Partners, and more.
Copyright © 1996-2024 AR15.COM LLC. All Rights Reserved.
Any use of this content without express written consent is prohibited.
AR15.Com reserves the right to overwrite or replace any affiliate, commercial, or monetizable links, posted by users, with our own.
.jpg)
