Skip to content
  • Categories
  • Recent
  • Tags
  • Popular
  • Users
  • Groups
Skins
  • Light
  • Cerulean
  • Cosmo
  • Flatly
  • Journal
  • Litera
  • Lumen
  • Lux
  • Materia
  • Minty
  • Morph
  • Pulse
  • Sandstone
  • Simplex
  • Sketchy
  • Spacelab
  • United
  • Yeti
  • Zephyr
  • Dark
  • Cyborg
  • Darkly
  • Quartz
  • Slate
  • Solar
  • Superhero
  • Vapor

  • Default (No Skin)
  • No Skin
Collapse

The New Coffee Room

  1. TNCR
  2. General Discussion
  3. Biden Admin Floats Taxing Unrealized Capital Gains

Biden Admin Floats Taxing Unrealized Capital Gains

Scheduled Pinned Locked Moved General Discussion
21 Posts 9 Posters 204 Views
  • Oldest to Newest
  • Newest to Oldest
  • Most Votes
Reply
  • Reply as topic
Log in to reply
This topic has been deleted. Only users with topic management privileges can see it.
  • J Online
    J Online
    jon-nyc
    wrote on 26 Oct 2021, 03:58 last edited by
    #8

    Back to the OP, the unrealized gains won’t pass the senate.

    Only non-witches get due process.

    • Cotton Mather, Salem Massachusetts, 1692
    H J 2 Replies Last reply 26 Oct 2021, 04:26
    • J jon-nyc
      26 Oct 2021, 03:58

      Back to the OP, the unrealized gains won’t pass the senate.

      H Offline
      H Offline
      Horace
      wrote on 26 Oct 2021, 04:26 last edited by
      #9

      @jon-nyc said in Biden Admin Floats Taxing Unrealized Capital Gains:

      Back to the OP, the unrealized gains won’t pass the senate.

      That's the response every time a horrible idea presented by a prominent Democrat is discussed here. So, I suppose the senators voted in by Trump supporters are the saviors of the republic. Those same voters are the devil when it comes to a presidential election though.

      Education is extremely important.

      1 Reply Last reply
      • J Online
        J Online
        jon-nyc
        wrote on 26 Oct 2021, 04:34 last edited by
        #10

        Nope. Manchin and Sinema alone would stop this.

        Only non-witches get due process.

        • Cotton Mather, Salem Massachusetts, 1692
        H 1 Reply Last reply 26 Oct 2021, 05:10
        • J jon-nyc
          26 Oct 2021, 04:34

          Nope. Manchin and Sinema alone would stop this.

          H Offline
          H Offline
          Horace
          wrote on 26 Oct 2021, 05:10 last edited by
          #11

          @jon-nyc said in Biden Admin Floats Taxing Unrealized Capital Gains:

          Nope. Manchin and Sinema alone would stop this.

          Alone huh? Republicans could vote Present and the legislation would be defeated?

          Education is extremely important.

          1 Reply Last reply
          • L Offline
            L Offline
            Larry
            wrote on 26 Oct 2021, 05:11 last edited by
            #12

            I hope Trump runs, and I hope he wins.

            That's because I care more about this nation than I care about politics.

            And I don't give a flying fuck about the "he tweeted something mean" idiots.

            1 Reply Last reply
            • J jon-nyc
              26 Oct 2021, 03:58

              Back to the OP, the unrealized gains won’t pass the senate.

              J Offline
              J Offline
              Jolly
              wrote on 26 Oct 2021, 08:31 last edited by
              #13

              @jon-nyc said in Biden Admin Floats Taxing Unrealized Capital Gains:

              Back to the OP, the unrealized gains won’t pass the senate.

              Then why even float the trial balloon?

              Because the Resident and his band of merry pronouns have to find money for their multi-trillion dollar bills, without raping the individual American taxpayer. They are desperately seeking something, anything, to keep from increasing individual income taxes and committing political hari-kari.

              “Cry havoc and let slip the DOGE of war!”

              Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

              1 Reply Last reply
              • C Copper
                26 Oct 2021, 01:58

                Genius

                https://bongino.com/biden-admin-floats-taxing-unrealized-capital-gains/?fbclid=IwAR2lwkLm330qZKVdNfSiGo1N0kXeKUaX37ANpm-XZPZJfmiMLpY0mCSDsAw

                Biden Admin Floats Taxing Unrealized Capital Gains

                In search of ways to pay for their massive spending bills that the Biden Administration also assures us somehow cost nothing, Nancy Pelosi and Janet Yellen have floated taxing income that people haven’t actually earned yet.

                While currently people only have to pay taxes on the price appreciation of an asset when its sold, the Biden administration wants those on the top to have to pay tax on their unrealized gains too.

                It cannot be emphasized enough that this is a tax on something that someone technically doesn’t have yet. If such a tax were implemented affecting everyone, it means that someone who purchased a $200,000 house that went up in value to $250,000 in a year therefore “earned” $50k and would have to pay tax on that as if it were cash income.

                There are some obvious questions about how the tax would handle capital losses. For instance, would this tax work in both directions, where if someone had an unrealized capital loss in a particular year, the government would be writing billionaires a check for the difference (which would be their loss multiplied by their tax rate)?

                8 Offline
                8 Offline
                89th
                wrote on 26 Oct 2021, 10:38 last edited by
                #14

                @copper said in Biden Admin Floats Taxing Unrealized Capital Gains:

                In search of ways to pay for their massive spending bills that the Biden Administration also assures us somehow cost nothing, Nancy Pelosi and Janet Yellen have floated taxing income that people haven’t actually earned yet.

                This gets back to the anti-wealth mentality that many on the left seem comfortable with. The false idea that it's a zero-sum game, "that person has money therefore he's taking it away from me!" Or as in this case, "That person has wealth, even if it's unrealized, therefore that is unfair to others and we should tax them!"

                I also agree this would never pass. If it did, it would have ripple effects across the stock market that would tank everyone's 401k. People would look elsewhere to invest their cash.

                1 Reply Last reply
                • J jon-nyc
                  26 Oct 2021, 02:46

                  Yeah that’s my prediction.

                  8 Offline
                  8 Offline
                  89th
                  wrote on 26 Oct 2021, 10:44 last edited by
                  #15

                  @jon-nyc said in Biden Admin Floats Taxing Unrealized Capital Gains:

                  Yeah that’s my prediction.

                  Seems the most likely so far. His age might prevent it, but if not... just as in 2016 he'll take advantage of his passionate base compared to a fractured GOP primary stage, and he'll win the votes needed to get the nomination.

                  He wouldn't win the general election though. Everyone and their mother who wanted Trump to win last time came out and voted for him and he still lost in a landslide. Further, his actions after losing lost him a YUGE chunk of voters who voted for him.

                  Then again, don't underestimate the ability for Biden to eff up this economy enough... but that is muted anyway since it'll be Harris/Buttigieg or something on the ticket.

                  I am hoping for a Pence/Haley ticket on the GOP side.

                  1 Reply Last reply
                  • J Online
                    J Online
                    jon-nyc
                    wrote on 26 Oct 2021, 11:16 last edited by jon-nyc
                    #16

                    Seems to me instead of pursuing this they should get rid of the step-up basis. It’s never made any sense and keeps a lot of realized capital gains forever untaxed.

                    Only non-witches get due process.

                    • Cotton Mather, Salem Massachusetts, 1692
                    A 1 Reply Last reply 26 Oct 2021, 11:20
                    • J jon-nyc
                      26 Oct 2021, 11:16

                      Seems to me instead of pursuing this they should get rid of the step-up basis. It’s never made any sense and keeps a lot of realized capital gains forever untaxed.

                      A Away
                      A Away
                      Axtremus
                      wrote on 26 Oct 2021, 11:20 last edited by
                      #17

                      @jon-nyc said in Biden Admin Floats Taxing Unrealized Capital Gains:

                      Seems to me instead of pursuing this they should get rid of the step-up basis. It’s never made any sense and keeps a lot of realized capital gains forever untaxed.

                      And the “carried interest” loophole … has that been eliminated yet?

                      J 1 Reply Last reply 26 Oct 2021, 11:47
                      • A Axtremus
                        26 Oct 2021, 11:20

                        @jon-nyc said in Biden Admin Floats Taxing Unrealized Capital Gains:

                        Seems to me instead of pursuing this they should get rid of the step-up basis. It’s never made any sense and keeps a lot of realized capital gains forever untaxed.

                        And the “carried interest” loophole … has that been eliminated yet?

                        J Online
                        J Online
                        jon-nyc
                        wrote on 26 Oct 2021, 11:47 last edited by
                        #18

                        @axtremus

                        Haven’t even heard talk about it.

                        Only non-witches get due process.

                        • Cotton Mather, Salem Massachusetts, 1692
                        1 Reply Last reply
                        • L Offline
                          L Offline
                          LuFins Dad
                          wrote on 26 Oct 2021, 18:08 last edited by
                          #19

                          https://babylonbee.com/news/janet-yellen-proposes-tax-on-coins-you-acquire-in-mario

                          The Brad

                          1 Reply Last reply
                          • D Online
                            D Online
                            Doctor Phibes
                            wrote on 26 Oct 2021, 18:11 last edited by
                            #20

                            My God, next thing you know they'll start requiring non-citizens to pay income tax and social security

                            I was only joking

                            1 Reply Last reply
                            • L Offline
                              L Offline
                              LuFins Dad
                              wrote on 27 Oct 2021, 22:29 last edited by
                              #21

                              If they tax my unrealized capital gains, can I claim my 7,000 unrealized dependents?

                              The Brad

                              1 Reply Last reply
                              Reply
                              • Reply as topic
                              Log in to reply
                              • Oldest to Newest
                              • Newest to Oldest
                              • Most Votes

                              17/21

                              26 Oct 2021, 11:20


                              • Login

                              • Don't have an account? Register

                              • Login or register to search.
                              17 out of 21
                              • First post
                                17/21
                                Last post
                              0
                              • Categories
                              • Recent
                              • Tags
                              • Popular
                              • Users
                              • Groups