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She wants to Tax unrealized capital gains?

She wants to Tax unrealized capital gains?

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Trying to make it personal doesn't save your non-argument.

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@wildgrass said
25% seems really high for a tax like this. Or I don't understand the metric.

Someone with $1 billion in wealth would be taxed $250 million per year?
No.

First, you'd have to determine whether the individual had $100 million in assets to be eligible for the tax.

Then you'd figure out their income for the year including in it the value of the increase in asset value.

Then they'd have to pay a minimum of 25% of that income, not their total wealth.

There are some nuances allowing them to pay in installments over an extended period. The details are here: https://apnews.com/article/billionaire-income-tax-biden-budget-bed3de13ae69f37469a51b871758cf18

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Stop sounding like such a petty child.

Your arguments don't make any logical sense and I think you know it.

I won't waste further time responding to your posts here unless you have something of actual relevance to say.

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@no1marauder said
No.

First, you'd have to determine whether the individual had $100 million in assets to be eligible for the tax.

Then you'd figure out their income for the year including in it the value of the increase in asset value.

Then they'd have to pay a minimum of 25% of that income, not their total wealth.

There are some nuances allowing them to pay in installments ...[text shortened]... ere: https://apnews.com/article/billionaire-income-tax-biden-budget-bed3de13ae69f37469a51b871758cf18
You call it income but it's definitely not. I think you have to tax wealth like property, no? You tax a low percentage of the value (which would include taxing any capital gains), but not the change in value.

Or Elon Musk would have a $75 billion tax bill since 2020?

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@no1marauder said
The armed forces of other countries - Yes.

People fleeing oppression and poverty from other countries - No.
As I said when rights, privileges, responsibilities, obligations where in play the rules changed. Being able to read was a big deal, you are speaking about proof of citizenship, proof of birth during those times could have been what was written in the family Bible.

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@wildgrass said
You call it income but it's definitely not. I think you have to tax wealth like property, no? You tax a low percentage of the value (which would include taxing any capital gains), but not the change in value.

Or Elon Musk would have a $75 billion tax bill since 2020?
It's income if the government says its income. If it was sold, it's considered income now. It's not a property or wealth tax:

" It’s taxing gains achieved from their wealth, but it’s real and unrealized income rather than simply the underlying assets.

That’s why David Gamage, a tax law professor at Indiana University says “it’s not a wealth tax, it’s an income tax reform.” He says, “This is a minimum income tax that includes the true economic value” of income that can be held for a very long time, he said." https://apnews.com/article/billionaire-income-tax-biden-budget-bed3de13ae69f37469a51b871758cf18

Not sure if the proposal would apply to increases in asset values from prior years or not.

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@KellyJay said
As I said when rights, privileges, responsibilities, obligations where in play the rules changed. Being able to read was a big deal, you are speaking about proof of citizenship, proof of birth during those times could have been what was written in the family Bible.
"rights, privileges, responsibilities, obligations where" always "in play". The US needed immigrants then and we need them now. In fact:

"“ A surge” of immigrants has boosted the U.S. economy recently and is projected to add almost $9 trillion to it through 2034, the nonpartisan Congressional Budget Office said in a new report Tuesday."

https://www.msn.com/en-us/money/markets/more-immigrants-boost-economy-reduce-budget-deficit-congress-nonpartisan-scorekeeper-says/ar-BB1otmXC

Trump's foolish and immoral plan to round up and stick over 10 million people in concentration camps is not only totalitarian, it's also economic suicide.

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@no1marauder said
"rights, privileges, responsibilities, obligations where" always "in play". The US needed immigrants then and we need them now. In fact:

"“ A surge” of immigrants has boosted the U.S. economy recently and is projected to add almost $9 trillion to it through 2034, the nonpartisan Congressional Budget Office said in a new report Tuesday."

https://www.msn.com/en-us/mon ...[text shortened]... over 10 million people in concentration camps is not only totalitarian, it's also economic suicide.
Is it immoral to enforce the law, immoral to take people out of the country that didn't enter it legally? Totalitarianism is to be selective on when and against whom laws are enforced, which should always be played out on a level playing field. Economic suicide, how many tens of thousands have died due to drugs, then there are the people with many being kids are thrown into sex trafficking, are you willing to accept, for financial security?

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@KellyJay
You completely skipped over the part where he said we NEED immigrants. The last time that draconian BS was implemented by Trump food was LITERALLY rotting in the fields because of lack of farm workers and that IMMEDIATELY drove up the price of food because there was not enough to go around and you want that AGAIN?
What the HELL is wrong with your brain you would think that would be a good idea, eh?
When an immigrant worker gets paid he also pays taxes and there was in fact a noticeable drop in tax revenue from Trump's POS policy.
There WAS a bipartisan bill that was the best hope for border reform in decades but Trump got his pet Squeaker of the house Johnson to kill it, and of course Johnson being a nice tame Trump pet fell over and played dead and stopped even DEBATE on the bill much less a vote so Trump gets 100% of the blame for that one. BTW, this is not me speaking hate, what I ABSOLUTELY hate is his ACTIONS like his total incompetence handling the Covid crisis which means he has hundreds of thousands of unnessesary deaths on his hands BESIDES all the other criminal activity he has already been convicted of in court.

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@sonhouse said
@KellyJay
You completely skipped over the part where he said we NEED immigrants. The last time that draconian BS was implemented by Trump food was LITERALLY rotting in the fields because of lack of farm workers and that IMMEDIATELY drove up the price of food because there was not enough to go around and you want that AGAIN?
What the HELL is wrong with your brain you would ...[text shortened]... aths on his hands BESIDES all the other criminal activity he has already been convicted of in court.
Nothing is wrong with my brain, I've been telling you that your hate towards Trump overrides everything, it is to the point I don't listen to you on policy issues if they are related to Trump, because no matter what he said or did you are never going to judge the policy on its own merits only on how it is connected to Trump nothing more is important.