Interested to see logical / non biased argument to a proposed federal tax plan

No more discussion on this topic until you provide the government link which says stock broker commissions are taxed as capital gains?

A capital gain is not considered taxable until the gain is realized by the investor...this means the investor cashed out and earned a gain and this gain is taxed at the capital gains rates applicable. If you have stock valued 1000 times the original price, at the end of the year, you don't pay any taxes? You only pay taxes when you cash out...

 

I prefer a mixture of taxes. I think ideally there should be a statewide property tax with locals making up the difference in other ways, but in practice, Detroit really blew that one by just piling it all on property owners as millage charges, running their effective tax rate on residential property up to around 10-11% per year.

And as for the no taxes in the middle--that is the single worst idea I have ever heard.

 

Unless your stock trading is through a series of shell companies in the Channel Islands, the Caymans, Gibraltar and any of a number of other places, in which case you pay no tax at all.
You asserted a conflation that because other people's fees are taxed as income, stockbrokers fees are also taxed as income. I provided a detailed explanation for how they are not.

It is your turn to respond to my allegations with new evidence logic or reasoning.
This is how debate works.
Demanding more evidence before engaging further signifies that your opponents position has become unarguable, that your intellectual ability on the subject is exhausted.
It is a capitulation.

I hope that this little bit of advice serves you better in your future adventures in this forum and elsewhere.

 

Income from commissioned-based sales jobs is included as "earned income" by the IRS...not capital gains...

 

Except for stock brokers who, as managers of other peoples money, are not considered to hold a commissioned-based sales job by the IRS.

I do not understand why you persist is such a futile argument that stock brokers and investment fund managers pay income tax on their commissions. Look it up, try Wikipedia or Google.

 

Capital gains taxes are paid when someone sells an ASSET for more than the original cost. The base salary and/or commissions earned by stock brokers are not ASSETS and are therefore taxed as ordinary income.

If you believe otherwise, then please provide the IRS webpage which shows your position...