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The New Coffee Room

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  3. Tax the Rich, Trump edition, 2025

Tax the Rich, Trump edition, 2025

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  • AxtremusA Offline
    AxtremusA Offline
    Axtremus
    wrote last edited by Axtremus
    #1

    https://www.nytimes.com/2025/05/08/us/politics/trump-new-tax-bracket.html

    Trump wants to "create a new top income bracket for people making more than $2.5 million per year and to tax income above that level at a rate of 39.6 percent."

    1 Reply Last reply
    • LuFins DadL Offline
      LuFins DadL Offline
      LuFins Dad
      wrote last edited by
      #2

      I seem to recall somebody on here saying Trump was a Clinton era Democrat…

      The Brad

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      • HoraceH Online
        HoraceH Online
        Horace
        wrote last edited by
        #3

        I was just mentioning today in a discussion about whether more accountants at the IRS was politically tenable, that "tax the rich" is a big overlap between the parties now. "Tax the cheaters" is probably an even bigger overlap.

        Education is extremely important.

        1 Reply Last reply
        • taiwan_girlT Online
          taiwan_girlT Online
          taiwan_girl
          wrote last edited by
          #4

          Is income considered all monies coming in, or just from work? Because I think most rich people - the yearly money comes from other than a "salary"

          LuFins DadL 1 Reply Last reply
          • taiwan_girlT taiwan_girl

            Is income considered all monies coming in, or just from work? Because I think most rich people - the yearly money comes from other than a "salary"

            LuFins DadL Offline
            LuFins DadL Offline
            LuFins Dad
            wrote last edited by
            #5

            @taiwan_girl said in Tax the Rich, Trump edition, 2025:

            Is income considered all monies coming in, or just from work? Because I think most rich people - the yearly money comes from other than a "salary"

            All realized gains.

            The Brad

            AxtremusA 1 Reply Last reply
            • LuFins DadL LuFins Dad

              @taiwan_girl said in Tax the Rich, Trump edition, 2025:

              Is income considered all monies coming in, or just from work? Because I think most rich people - the yearly money comes from other than a "salary"

              All realized gains.

              AxtremusA Offline
              AxtremusA Offline
              Axtremus
              wrote last edited by
              #6

              @LuFins-Dad said in Tax the Rich, Trump edition, 2025:

              @taiwan_girl said in Tax the Rich, Trump edition, 2025:

              Is income considered all monies coming in, or just from work? Because I think most rich people - the yearly money comes from other than a "salary"

              All realized gains.

              But, still, long term capital gains are taxed at a much lower rate than earned income.

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              • taiwan_girlT Online
                taiwan_girlT Online
                taiwan_girl
                wrote last edited by
                #7

                I wonder if President Trump is thinking of raising the tax on things like capital gains, etc., rather than just work in come?

                LuFins DadL 1 Reply Last reply
                • taiwan_girlT taiwan_girl

                  I wonder if President Trump is thinking of raising the tax on things like capital gains, etc., rather than just work in come?

                  LuFins DadL Offline
                  LuFins DadL Offline
                  LuFins Dad
                  wrote last edited by
                  #8

                  @taiwan_girl said in Tax the Rich, Trump edition, 2025:

                  I wonder if President Trump is thinking of raising the tax on things like capital gains, etc., rather than just work in come?

                  Doubt it.

                  The Brad

                  1 Reply Last reply
                  • taiwan_girlT Online
                    taiwan_girlT Online
                    taiwan_girl
                    wrote last edited by
                    #9

                    Then probably the "net affect" will be close to zero. From my understand, if you look at something like CEO pay, 90+% is non salary.

                    HoraceH 1 Reply Last reply
                    • taiwan_girlT taiwan_girl

                      Then probably the "net affect" will be close to zero. From my understand, if you look at something like CEO pay, 90+% is non salary.

                      HoraceH Online
                      HoraceH Online
                      Horace
                      wrote last edited by Horace
                      #10

                      @taiwan_girl said in Tax the Rich, Trump edition, 2025:

                      Then probably the "net affect" will be close to zero. From my understand, if you look at something like CEO pay, 90+% is non salary.

                      Stock based compensation is taxed as income. If you get a million dollars of stock, it is taxed at a million dollars of normal income. If you then happen to hold that stock, rather than sell immediately, then whatever profit you eventually make would be cap gain. Or you could lose, if the stock goes down after it is granted.

                      Education is extremely important.

                      1 Reply Last reply
                      • jon-nycJ Online
                        jon-nycJ Online
                        jon-nyc
                        wrote last edited by
                        #11

                        The exception being founder shares of it’s a someone like Zuck or Gates

                        You were warned.

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