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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

      1 Reply Last reply
      • HoraceH Offline
        HoraceH Offline
        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 Offline
          taiwan_girlT Offline
          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 Offline
                taiwan_girlT Offline
                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 Offline
                    taiwan_girlT Offline
                    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 Offline
                      HoraceH Offline
                      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 Offline
                        jon-nycJ Offline
                        jon-nyc
                        wrote last edited by
                        #11

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

                        Only non-witches get due process.

                        • Cotton Mather, Salem Massachusetts, 1692
                        1 Reply Last reply
                        • AxtremusA Offline
                          AxtremusA Offline
                          Axtremus
                          wrote last edited by
                          #12

                          Not necessarily limited to "founder's shares." Any share that appreciates bigly and held longer than one year (after vesting) will provide big tax savings by being taxed at long term capital gains rates vs. ordinary income rates.

                          More likely than not, those in senior management in big corporations benefit from this.

                          HoraceH 1 Reply Last reply
                          • AxtremusA Axtremus

                            Not necessarily limited to "founder's shares." Any share that appreciates bigly and held longer than one year (after vesting) will provide big tax savings by being taxed at long term capital gains rates vs. ordinary income rates.

                            More likely than not, those in senior management in big corporations benefit from this.

                            HoraceH Offline
                            HoraceH Offline
                            Horace
                            wrote last edited by
                            #13

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

                            Not necessarily limited to "founder's shares." Any share that appreciates bigly and held longer than one year (after vesting) will provide big tax savings by being taxed at long term capital gains rates vs. ordinary income rates.

                            More likely than not, those in senior management in big corporations benefit from this.

                            There's nothing special about such capital gains, as compared to having been given cash compensation and then investing it in one's own company. In both cases, the original compensation is taxed as income, and the gains or losses are at the whim of the market that the general public can also participate in if they choose to.

                            Education is extremely important.

                            1 Reply Last reply
                            • AxtremusA Offline
                              AxtremusA Offline
                              Axtremus
                              wrote last edited by Axtremus
                              #14

                              More likely than not, senior management in big corporations get pay packages that include substantial amounts of restricted stocks, and more likely than not, they cannot negotiate to say "give me cash instead of stocks" or "give me that other company's stocks instead."

                              Fastest they can convert the restricted stocks into something else is to cash out as soon as they vest -- in that case ordinary income tax rates apply.

                              1 Reply Last reply
                              • jon-nycJ Offline
                                jon-nycJ Offline
                                jon-nyc
                                wrote last edited by
                                #15

                                @Axtremus But I was mentioning the exception to Horace’s post, you were simply providing an example of what Horace covered in his post.

                                Only non-witches get due process.

                                • Cotton Mather, Salem Massachusetts, 1692
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