The President wants to tax unrealized gains...

[Willence]

That's just so far out of bounds to me. Why would anyone feel that's something we should be doing? I can understand realized gains The taxing perceived wealth based on something that could change dramatically is crazy. At what point do people decide that the government has had enough of everyone else's money?

 

[WapPride]

Was there something recent released about this? I know last May or April he mentioned households >$100mil in net worth could get a 20% base tax, that may include unrealized gains, but i haven't heard anything since then on it.

 

[PAWrocka]

That's just so far out of bounds to me. Why would anyone feel that's something we should be doing? I can understand realized gains The taxing perceived wealth based on something that could change dramatically is crazy. At what point do people decide that the government has had enough of everyone else's money?

... I could get onboard with paying more taxes ... I really could ... I just dont think that giving the people who spent us into a $31 Trillion deficit is a viable solution.

 

[Willence]

Was there something recent released about this? I know last May or April he mentioned households >$100mil in net worth could get a 20% base tax, that may include unrealized gains, but i haven't heard anything since then on it.

This is what I saw.

MSN

www.msn.com

 

[scotchtiger]

This is what I saw.

MSN

www.msn.com

While taxing unrealized gains makes no sense, at least he is focusing revenue options on billionaires and not hardworking families making $400k like he campaigned on.

 

[PAWrocka]

While taxing unrealized gains makes no sense, at least he is focusing revenue options on billionaires and not hardworking families making $400k like he campaigned on.

billionaires will skirt around it somehow, the lower class will get more Government handouts thus increasing their dependency on Government assistance, and the middle class will somehow/someway end up fitting the bill.

If we start asking questions???? ... bread and circuses all around.

 

[Willence]

While taxing unrealized gains makes no sense, at least he is focusing revenue options on billionaires and not hardworking families making $400k like he campaigned on.

This is always where it starts and never where it ends. Not to mention if you're someone whose wealth resides in stock in the company you own and if your shares go from $30/share to $60/share in a given year, how much are you really going to spend on expanding your operation or hiring new people when you know that 24% or so of that is going to be taxed based on the stock price and not the value? Also, if you're funneling all your wealth into your company then how do you take the income to pay the taxes? That would require selling stock and we know what owners of companies selling stock does to the value of the stock. It's all just bad, bad, bad and it will end up hurting people making middle class wages more than it will hurt the owner of the company.

 

[scotchtiger]

billionaires will skirt around it somehow, the lower class will get more Government handouts thus increasing their dependency on Government assistance, and the middle class will somehow/someway end up fitting the bill.

If we start asking questions???? ... bread and circuses all around.

This is always where it starts and never where it ends. Not to mention if you're someone whose wealth resides in stock in the company you own and if your shares go from $30/share to $60/share in a given year, how much are you really going to spend on expanding your operation or hiring new people when you know that 24% or so of that is going to be taxed based on the stock price and not the value? Also, if you're funneling all your wealth into your company then how do you take the income to pay the taxes? That would require selling stock and we know what owners of companies selling stock does to the value of the stock. It's all just bad, bad, bad and it will end up hurting people making middle class wages more than it will hurt the owner of the company.

Oh there’s a bunch of reasons it’s a terrible idea. Just awful.

But I appreciate the shift toward people who probably aren’t paying a reasonable tax load vs people paying huge effective rates.

 

[scotchtiger]

Apparently the 87,000 new IRS agents are going to go after service industry tips for taxes. Lot of food and bev liberals may find themself in the unfortunate area of the fvck around and find out tax chart. Big government and more taxes doesn’t just apply to the well-to-dos.

IRS introduces new service industry tip reporting program | Internal Revenue Service

IR-2023-19, Feb. 6, 2023 — The Treasury Department and Internal Revenue Service today issued Notice 2023-13, which contains a proposed revenue procedure that would establish the Service Industry Tip Compliance Agreement (SITCA) program, a voluntary tip reporting program between the IRS and...

www.irs.gov

 

[Willence]

Apparently the 87,000 new IRS agents are going to go after service industry tips for taxes. Lot of food and bev liberals may find themself in the unfortunate area of the fvck around and find out tax chart. Big government and more taxes doesn’t just apply to the well-to-dos.

IRS introduces new service industry tip reporting program | Internal Revenue Service

IR-2023-19, Feb. 6, 2023 — The Treasury Department and Internal Revenue Service today issued Notice 2023-13, which contains a proposed revenue procedure that would establish the Service Industry Tip Compliance Agreement (SITCA) program, a voluntary tip reporting program between the IRS and...

www.irs.gov

Entirely predictable. Quite honestly those folks can choke on it. I couldn't care less how much they are taxed at this point because they keep texting me and so many others with her stupidity and their profoundly ignorant voting patterns. We don't demand more of our politicians on either side and we're suffering for it. It's a brood of vipers in Washington. Idiots on all sides only interested in furthering their personal wealth and their power over others. No thank you!

 

[97ClemsonMac]

That's just so far out of bounds to me. Why would anyone feel that's something we should be doing? I can understand realized gains The taxing perceived wealth based on something that could change dramatically is crazy. At what point do people decide that the government has had enough of everyone else's money?

I talked about this months ago but I don’t see ,even if that’s true, that it could come to fruition. Would be the end of 401k’s for sure

 

[Jjh7]

thats been on yellens bucket list for a while. this is the treasury secretary, and former fed chair. its a policy so economically incompetent even an idiot like her does know better.

will bring about a giant whooosh sound, as assets and wealthy individuals head for the exits. south america, parts of africa, and southeast asia could wind up the biggest winners of the future economy as the us and european govts destroy empires with idiocy. thats pretty much assured if we dont massively change course very soon.

 

[scotchtiger]

Entirely predictable. Quite honestly those folks can choke on it. I couldn't care less how much they are taxed at this point because they keep texting me and so many others with her stupidity and their profoundly ignorant voting patterns. We don't demand more of our politicians on either side and we're suffering for it. It's a brood of vipers in Washington. Idiots on all sides only interested in furthering their personal wealth and their power over others. No thank you!

I’m guessing these food and bev dem voters will be all for this. I’ve heard a ton about paying your fair share with regard to taxes. Surely this applies to them, right?

 

[okclem]

I can't wait until everyone in this echo chamber votes for Trump again. You're all tremendous cowards. 👏

 

[jakefest]

While taxing unrealized gains makes no sense, at least he is focusing revenue options on billionaires and not hardworking families making $400k like he campaigned on.

Don't leave out waitresses tips which made an appearance this week. That should help put a dent In the debt to earnings delta.

 

[jakefest]

Don't leave out waitresses tips which made an appearance this week. That should help put a dent In the debt to earnings delta.

Disregard, didn't read far enough down......you already flagged it

 

[DW4_2016]

billionaires will skirt around it somehow, the lower class will get more Government handouts thus increasing their dependency on Government assistance, and the middle class will somehow/someway end up fitting the bill.

If we start asking questions???? ... bread and circuses all around.

Fitting the bill. You guys are so subtle with the stupidity it’s hilarious.

 

[Jjh7]

hey at least theyre taxing waiters tips now, hadnt realized they were bringing in 400k. that should make up for the capital flight and market meltdowns as people dump us custodied assets

 

[PawsFan_]

LOL

Biden wanting to tax 724 people and thinks it makes a difference.