@Phranny saidI think you are confused. Capital gains tax rates are lower than ordinary income so there's no incentive to "avoid" them to pay ordinary income tax rates.
Withdrawals from Traditional IRA's get taxed as income. Withdrawals from Roth IRA's are not taxed at all. Both avoid capital gains taxes.
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@no1marauder saidMedieval economics is precisely what the U.S. should try to avoid. Government greed is behind double dip taxation. Do you really want to go back to a time when you had no choice, and the king can just say pay up or else.
This is medieval economic thinking. What is the difference in the modern economy between a piece of paper that says $100 or a different piece of paper which says "stock" but is both easily transferred and able to be used as collateral for loans? None really and even most personal worth in "money" only exists as marks in a computer.
Get real, guys.
Are you really okay with that?
@Kilroy70 saidWTF does that rant have to do with the subject at hand?
Medieval economics is precisely what the U.S. should try to avoid. Government greed is behind double dip taxation. Do you really want to go back to a time when you had no choice, and the king can just say pay up or else.
Are you really okay with that?
@no1marauder saidYou said "This is medieval economic thinking".
WTF does that rant have to do with the subject at hand?
I'm saying no, you're the one who seems to be missing the good old days, when no one had a choice. Whose side were you on during the revolutionary war?
@no1marauder saidAnd that is meaningless unless I sell it, I owned Intel stock when it was high but it didn’t stay there. You put up speculation on value as actual earnings you have entered the twilight zone!
I can check any second of any day and know the value of a particular share of stock I own. So can you and anybody else.
@Kilroy70 saidNote that Eliz Warren, who pushes this, wants you taxedEACH year on that same asset which is just sitting there, maybe earning interest and dividends or not.
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?
I cannot imagine, spending our time arguing with socialists who did not want us to be successful, to save money, to get rich.
@sonhouse saidProperty tax you pay on your house covers expenses of that local govt. fire truck school hospital. We are talking about fed taxes. Whew.
@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?
@Zahlanzi saidOPM. Other People’s Money. With good credit and maybe some collateral like a piece of stock, or a solid Trust Fund, a guy can get rich using the OPM and have none of his own skin in the game.
yet you can take loans against it. interest free loans. you can use that to buy more stock.
funny how someone who technically has no money to tax keeps increasing their wealth.
Certainly you do not frown on such an arrangement ?
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@AverageJoe1
An arrangement Trump knows very well indeed.
Like his 10 million dollar campaign contribution from his own money, actually calling it a loan and then mysteriously gets paid back by Erdowan who was the first visitor to the WH after Trump was pronounced king, er, sorry, POTUS which resulted in a sweetheart deal for Turkey, a billion dollars in military arms, great deal for the money spent. But OF COURSE you can't just throw money at Trump and expect anything in return, right?
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@sonhouse saidThus his success. Ask any businessman, they will tell you they avoid using their own money. There is an old adage that wheeler-dealers like Trump borrow so much from a bank that bank inadvertently becomes a partner with him. You can take it a step further and say that he owns the bank.!
@AverageJoe1
An arrangement Trump knows very well indeed.
The guy is real smart. As an example, when he bought the land for Trump Tower, he told the city he would build this beautiful edifice with one proviso.… That they would not charge him any city taxes on this building. To. have such a great golden building in that town, they agreed. So he has never paid a nickel tax on that building.
But let me get this straight. You don’t want him negotiating for us?
@AverageJoe1
You mean like Biden negotiated with a half dozen countries where some of them were our adversaries to get our hostages home? THAT kind of negotiation?
Good luck getting your orange would be dictator to to that since he already said those who got caught are LOSERS.
@sonhouse saidA few of our libs are getting a bit giddy……….
@AverageJoe1
You mean like Biden negotiated with a half dozen countries where some of them were our adversaries to get our hostages home? THAT kind of negotiation?
Good luck getting your orange would be dictator to to that since he already said those who got caught are LOSERS.
@sonhouse saidThis one likes to dig up conspiracy theories, for example. Diggy diggy…….
@AverageJoe1
An arrangement Trump knows very well indeed.
Like his 10 million dollar campaign contribution from his own money, actually calling it a loan and then mysteriously gets paid back by Erdowan who was the first visitor to the WH after Trump was pronounced king, er, sorry, POTUS which resulted in a sweetheart deal for Turkey, a billion dollars in military arms, gre ...[text shortened]... oney spent. But OF COURSE you can't just throw money at Trump and expect anything in return, right?
Drop what you are doing and join in to his escapades, we will see what comes out onthe other side.
@AverageJoe1 saidwhat the fuk are you talking about now?
OPM. Other People’s Money. With good credit and maybe some collateral like a piece of stock, or a solid Trust Fund, a guy can get rich using the OPM and have none of his own skin in the game.
Certainly you do not frown on such an arrangement ?
have you tried comprehending what i wrote for even 1 minute? or like you have proven time and again, you parade your ignorance proudly.