BIDEN is now backing- INCOME TAX ON UN-REALIZED GAINS......

Discussion in 'Political Opinions & Beliefs' started by spiritgide, Sep 24, 2021.

  1. drluggit

    drluggit Well-Known Member

    Joined:
    Nov 17, 2016
    Messages:
    30,990
    Likes Received:
    28,459
    Trophy Points:
    113
    Janet should know better. She should have said, ..."well, this is entirely unconstitutional". Do democrats believe they'll be able to amend the constitution to support their greed and graft?
     
    ButterBalls likes this.
  2. FAW

    FAW Well-Known Member Past Donor

    Joined:
    Sep 25, 2008
    Messages:
    13,010
    Likes Received:
    3,850
    Trophy Points:
    113
    It is not legal and this does not occur. Who told you this falsehood?
     
    ButterBalls likes this.
  3. Chrizton

    Chrizton Well-Known Member

    Joined:
    Aug 4, 2020
    Messages:
    7,707
    Likes Received:
    3,785
    Trophy Points:
    113
    The War on Terror. Any pretense of fiscal responsibility that existed in government ended when the GOP decided to start swinging at every shadow.
     
  4. The Last American

    The Last American Newly Registered

    Joined:
    Aug 8, 2021
    Messages:
    815
    Likes Received:
    692
    Trophy Points:
    93
    That was Muslim terrorists - I asked about communist despots in American government.
     
    ButterBalls likes this.
  5. FAW

    FAW Well-Known Member Past Donor

    Joined:
    Sep 25, 2008
    Messages:
    13,010
    Likes Received:
    3,850
    Trophy Points:
    113
    I understood what he meant from the beginning in regards to it being a deduction. I do not believe he was trying it be deceitful in the slightest.

    Are you implying that you think that the government should be able to tax realized gains but not allow for deducting realized losses? That seems like inconsistent logic to me. It going both ways, in my mind is no different than a business being able to write off its expenses versus its revenue.
     
    Last edited: Oct 26, 2021
    ButterBalls likes this.
  6. garyd

    garyd Well-Known Member

    Joined:
    Jun 18, 2012
    Messages:
    56,588
    Likes Received:
    16,664
    Trophy Points:
    113
    In fact it is so damn complex that you can talk to two different IRS workers and get two different answers to the same question.
     
    Last edited: Oct 26, 2021
  7. dairyair

    dairyair Well-Known Member

    Joined:
    Dec 20, 2010
    Messages:
    78,717
    Likes Received:
    19,868
    Trophy Points:
    113
    Gender:
    Male
    Something can't be taxed based on pure speculation of cost/price.
    What happens when the supposed prices fall?
     
  8. flyboy56

    flyboy56 Well-Known Member Past Donor

    Joined:
    Oct 17, 2013
    Messages:
    15,346
    Likes Received:
    5,337
    Trophy Points:
    113
    Gender:
    Male
    The wealthiest hire tax accountants to find flaws in the tax codes they can legally exploit.
     
  9. Chrizton

    Chrizton Well-Known Member

    Joined:
    Aug 4, 2020
    Messages:
    7,707
    Likes Received:
    3,785
    Trophy Points:
    113
    The commie despots were the ones doing the swinging
     
  10. garyd

    garyd Well-Known Member

    Joined:
    Jun 18, 2012
    Messages:
    56,588
    Likes Received:
    16,664
    Trophy Points:
    113
    It isn't a flaw if it was done on purpose...
     
  11. flyboy56

    flyboy56 Well-Known Member Past Donor

    Joined:
    Oct 17, 2013
    Messages:
    15,346
    Likes Received:
    5,337
    Trophy Points:
    113
    Gender:
    Male
    Yes but when I say flaw I mean a tax code that was written poorly without the intent for it to be exploited.
     
  12. The Last American

    The Last American Newly Registered

    Joined:
    Aug 8, 2021
    Messages:
    815
    Likes Received:
    692
    Trophy Points:
    93
    Correction - the ultra wealthy PAY congresspeople to write tax laws with loopholes the ultra-wealthy can exploit.
     
    ButterBalls and joesnagg like this.
  13. joesnagg

    joesnagg Banned

    Joined:
    Aug 12, 2020
    Messages:
    4,749
    Likes Received:
    6,799
    Trophy Points:
    113
    Gender:
    Male
    Why double down on the taxes to make up for the supposed shortfall...see how easy it is! :D
     
    ButterBalls likes this.
  14. ButterBalls

    ButterBalls Well-Known Member

    Joined:
    Dec 2, 2016
    Messages:
    51,208
    Likes Received:
    37,553
    Trophy Points:
    113
    It's discussions like these that clearly shine a light on those that have and those that have not! And hardly touch on those that understand the taxation laws and those that don't...

    VERY SOLID point and nothing more really need be explained because it clearly falls on def ear and lack of understanding!!
     
    Last edited: Oct 26, 2021
    FAW and roorooroo like this.
  15. ButterBalls

    ButterBalls Well-Known Member

    Joined:
    Dec 2, 2016
    Messages:
    51,208
    Likes Received:
    37,553
    Trophy Points:
    113
    I don't even think Joey is coherent enough to pen this bullshit out.. This is some moron like Pelosi and here commie club.. It will effect 401k and pretty much any incentive savings program regardless of you spend it or let it ride! The biggest con here is they will tax it "We don't know yet really" quarterly, annually or however nets the DNC the most of your gains!

    Then as another poster has said, will they also reimburse for losses too, I think we all know the answer to that :)
     
    joesnagg likes this.
  16. Marine1

    Marine1 Well-Known Member Past Donor

    Joined:
    Aug 17, 2011
    Messages:
    31,883
    Likes Received:
    3,624
    Trophy Points:
    113
    Gender:
    Male
    They only have to cut out the tax loop holds. Why don't they do that? It's because Congress is loaded down with millionaires and they use those tax loop holds to cut their taxes. Democrats control Congress, they could do it now, but they won't. A capital gain isn't a gain until you take the money out. If you tax them before that, the gain could be gone the next day they were given credit for it.
     
    Last edited: Oct 26, 2021
  17. garyd

    garyd Well-Known Member

    Joined:
    Jun 18, 2012
    Messages:
    56,588
    Likes Received:
    16,664
    Trophy Points:
    113
    90% of Congress is composed of lawyers. Almost all of them have a business in their district that they need to keep happy if they are going to stay in Congress. So when it comes to corporate taxes you will find dozens of cut outs and set asides to allow major corporations to avoid taxation. The people who get routinely hammered are the small companies less than 25 to 30 workers no one's writing set asides and cutouts for them. They are the people who made up the bulk of the tea party folk and a goodly chunk of Trump voters as well. Individual taxes are a different kettle of fish.
     
    Last edited: Oct 26, 2021
  18. 61falcon

    61falcon Well-Known Member

    Joined:
    Apr 27, 2018
    Messages:
    21,436
    Likes Received:
    12,227
    Trophy Points:
    113
    Gender:
    Male
    Right now with Tesla's stock on a steep uptick, we read in the media that he is now the worlds wealthiest person. So since most of his wealth is in the unrealized gains of his stock shares, YOU are contending that the claim is pure bullshit??? This same statement would be true of most of our wealthiest individuals who have most of their wealth in unsold stock shares, and also in unsold residential real estate which has increased dramatically in value this year.
     
  19. flyboy56

    flyboy56 Well-Known Member Past Donor

    Joined:
    Oct 17, 2013
    Messages:
    15,346
    Likes Received:
    5,337
    Trophy Points:
    113
    Gender:
    Male
    It is the small to medium size companies that employs most Americans. How many congressmen own or have owned these size companies? Our government thinks comprehensive anything is the smart way thinking like a comprehensive immigration bill which to me just says complicated. What happened to KISS?
     
  20. garyd

    garyd Well-Known Member

    Joined:
    Jun 18, 2012
    Messages:
    56,588
    Likes Received:
    16,664
    Trophy Points:
    113
    As far as Congress the Kiss principle died in the early thirties when Democrats discovered their was more political power to be had by riding the great depression than allowing the country to heal as had been the usual method four more than a hundred and thirty years prior.
     
  21. spiritgide

    spiritgide Well-Known Member Past Donor

    Joined:
    Mar 25, 2016
    Messages:
    20,133
    Likes Received:
    16,080
    Trophy Points:
    113
    Gender:
    Male

    I think by failing to enforce it's rules, it's principles, it's ethics and such. By tolerating distortion of news and values. By tolerating bad conduct.... giving bad conduct permission to thrive.
    In short- by being too soft on the people gaming and using the system. Enabling it.
     
    roorooroo and The Last American like this.
  22. Hoosier8

    Hoosier8 Well-Known Member Past Donor

    Joined:
    Jan 16, 2012
    Messages:
    107,541
    Likes Received:
    34,488
    Trophy Points:
    113
    Remember, income tax was first sold as taxing the rich. The real target here are savings like 401Ks.
     
  23. The Last American

    The Last American Newly Registered

    Joined:
    Aug 8, 2021
    Messages:
    815
    Likes Received:
    692
    Trophy Points:
    93
    BAM!
     
  24. flyboy56

    flyboy56 Well-Known Member Past Donor

    Joined:
    Oct 17, 2013
    Messages:
    15,346
    Likes Received:
    5,337
    Trophy Points:
    113
    Gender:
    Male
    Nov 01, 2019 ยท By early 1929, the Federal Reserve was taking the punch away from the party. It choked off the money supply, raised interest rates, and for the next three years presided over a money supply that shrank by 30 percent. This deflation following the inflation wrenched the economy from tremendous boom to colossal bust.
     
  25. FAW

    FAW Well-Known Member Past Donor

    Joined:
    Sep 25, 2008
    Messages:
    13,010
    Likes Received:
    3,850
    Trophy Points:
    113
    His stock portfolio is undoubtedly a large percentage of his overall assets, and whomever is calling him the worlds wealthiest person after a huge stock uptick is referring to his assets.

    We do not tax assets. We tax income, or in the case of investments, we tax realized gains on those investments. A realized gain does not occur until that stock is sold for a profit. Stock valuations go up and down, making them quite volatile. If we taxed it went it goes up, that would mean we would need to refund it when it goes down. Why would we do that? Are you trying to make the IRS a banking institution?
     
    Last edited: Oct 26, 2021
    roorooroo likes this.

Share This Page