She wants to Tax unrealized capital gains?

@AverageJoe1 said
Do y'all even know what that is?
Do y'all know that Trump, who has bad breath and hates children dogs and nuns, just got back from a Crypto meeting? Does K know what Crypto is? Can Suzianne explain it, to all of our members who do not know what it is? And while at it, what unrealized capital gains is? If she will do it, I will swear to not say Kamal anymore.

Iwill ...[text shortened]... ollars to anti-American groups donating to her. Shouldn't that be illegal? Corruption, is it not?

@Zahlanzi said
lol i had a witty remark lined up based on the title how it's funny unrealized capital gains are fictional, non existent money when it comes to taxes but they suddenly become real when you want to get loans.


but you're just drunkenly rambling as usual about 10 different things


sooo... why the fuk even bother

@AverageJoe1
So he lets that grow at 30% a year and gets to 1 billion dollars value so he should not be taxed on the fact he is now worth 1 billion.

@sonhouse said
@AverageJoe1
So he lets that grow at 30% a year and gets to 1 billion dollars value so he should not be taxed on the fact he is now worth 1 billion.

@sonhouse said
@AverageJoe1
So he lets that grow at 30% a year and gets to 1 billion dollars value so he should not be taxed on the fact he is now worth 1 billion.

@Kilroy70
Well that billion could easily make its way to an offshore account where it then can be made into tax free cash.
That said, the tax system is what it is and for now unused money is not taxed.

@Phranny said
@no1marauder
Taxing unrealized capital gains would be a disaster for ordinary Americans trying to save for retirement through 401K's and independent portfolios, depending on how it would work. Currently, there is no capital gains tax on Roth and Traditional IRA's. I hope that would not go away. Capital gains taxes are only paid on non retirement accounts when you withdraw mo ...[text shortened]... appropriately taxed. They made their money due to the infrastructure the rest of us built for them.

@sonhouse said
@AverageJoe1
So he lets that grow at 30% a year and gets to 1 billion dollars value so he should not be taxed on the fact he is now worth 1 billion.

@KellyJay
Why does the government tax our property again and again and again, even though we are making ZERO on it other than a place to live?
So a 100K property getting 2% property tax, in 50 years we would have paid 100K PLUS the 100K we paid for the place.
Where is the logic in that?

@Kilroy70 said
Being worth 1 billion and having 1 billion is not the same thing. When the billion is realized then it can be taxed.
Do you want the IRS taxing money you don't have, just because they think you will have it?

So what's next? Should the IRS be able to tax you twice, first on unrealized gain and then again on actual (realized) gain?

@KellyJay said
Until something is sold “the value is in the eyes of the beholder!” Who says what you own is worth X amount, the one demanding you pay taxes?

@no1marauder
He No1, can you say something about my serious question post?

@AverageJoe1 said
If $1M grows to a value of $1.3m in one year, it is a .3 gain. If I don’t realize (cash to my pocket), then I have not realized it.
But if I google my account, I will see it sitting there, unrealized. Not fiction to me, as I know it is non-fiction, a way to realize a new small yacht. 🛥️

@AverageJoe1 said
You fretting over a name? Fret over a REAL problem, have you seen what your buddy Marauder has in store when Kamal-a makes him her Economic Czar?

@no1marauder said
Distributions from IRAs don't get favorable capital gains treatment but are taxed at ordinary income rates.

Anyway, the Biden administration proposal would only apply to those with assets over $100 million who I doubt on relying on IRAs for their retirement.