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Unrealized capital gains tax #8201241
08/22/24 04:34 PM
08/22/24 04:34 PM
Joined: Jan 2007
Georgia
warrior Online content OP
trapper
warrior  Online Content OP
trapper

Joined: Jan 2007
Georgia
I get it, it's a tax on paper. The hypothetical profit to be made if your were to liquidate a hard asset would considered taxable income even though nothing yet to come in. In short getting taxed on something you don't yet have and may never actually get.

This is kommieala's tax policy.

Could I get some of our investment and economic gurus to chime and explain just how evil this would be?

And, yes, it would apply to your antique trap or gun collection.


[Linked Image]
Re: Unrealized capital gains tax [Re: warrior] #8201245
08/22/24 04:41 PM
08/22/24 04:41 PM
Joined: Jan 2009
Nebraska
T
Trapset Offline
trapper
Trapset  Offline
trapper
T

Joined: Jan 2009
Nebraska
They have kinda been doing that to Buy here Pay here car guys for a while now. They have to pay tax on the total amount they sell the car for, even though it may take 2 years to collect the money, if ever.

Of corse they can deduct the amount they don’t collect if the deal goes bad. But paying up front on money you may or may not realize is nutz imo.

Re: Unrealized capital gains tax [Re: warrior] #8201249
08/22/24 04:48 PM
08/22/24 04:48 PM
Joined: Dec 2006
Very SE Nebraska
G
Gary Benson Offline
trapper
Gary Benson  Offline
trapper
G

Joined: Dec 2006
Very SE Nebraska
They will never have enough money. It only gets worse.


Life ain't supposed to be easy.
Re: Unrealized capital gains tax [Re: warrior] #8201257
08/22/24 05:11 PM
08/22/24 05:11 PM
Joined: Dec 2008
Eastern Shore of Maryland
HobbieTrapper Offline
"Chippendale Trapper"
HobbieTrapper  Offline
"Chippendale Trapper"

Joined: Dec 2008
Eastern Shore of Maryland
Everybody will start selling so they are only taxed once. Once it catches on there will be no buyers. The government will receive even less money than they do now. I reckon blood will be running in the streets by then.


-Goofy
Re: Unrealized capital gains tax [Re: warrior] #8201267
08/22/24 05:33 PM
08/22/24 05:33 PM
Joined: Jul 2022
Va
S
Spike369 Offline
trapper
Spike369  Offline
trapper
S

Joined: Jul 2022
Va
Over time you will own nothing because you can never pay all the tax you would owe on unrealized capital gains plus you would have to pay penalties and interest. This would be a yearly tax on your house, property, 401K and investments.

Re: Unrealized capital gains tax [Re: warrior] #8201276
08/22/24 06:01 PM
08/22/24 06:01 PM
Joined: Jan 2008
Alaska and Washington State
W
waggler Offline
trapper
waggler  Offline
trapper
W

Joined: Jan 2008
Alaska and Washington State
Of course in the Democrats eyes anyone who plans ahead, works hard and saves up a stash of cash or other assets, is a rich guy and must be punished. You want to see production drop fast, just implement her economic ideas. Moronic.


"My life is better than your vacation"
Re: Unrealized capital gains tax [Re: Spike369] #8201378
08/22/24 08:42 PM
08/22/24 08:42 PM
Joined: May 2008
Mn
N
nightlife Offline
trapper
nightlife  Offline
trapper
N

Joined: May 2008
Mn
Originally Posted by Spike369
Over time you will own nothing because you can never pay all the tax you would owe on unrealized capital gains plus you would have to pay penalties and interest. This would be a yearly tax on your house, property, 401K and investments.



That is the idea, there is a large section of democrats and their supporters that want zero growth in population, in the economy and generally every aspect of society, they want you to live in one small area never travel outside it especially without permission and basically own nothing

I first hear this 40 years ago in college from a leftist professor who was lecturing us on economics and the perfect society and it’s grown and gained momentum

Just google Zero Growth economy or Degrowth economy



�Everything in excess! To enjoy the flavor of life, take big bites. Moderation is for monks.�
― Robert A. Heinlein
Re: Unrealized capital gains tax [Re: warrior] #8201380
08/22/24 08:44 PM
08/22/24 08:44 PM
Joined: Jan 2019
North central Iowa
B
Bob_Iowa Offline
trapper
Bob_Iowa  Offline
trapper
B

Joined: Jan 2019
North central Iowa
I would think land would be an issue, as a person could pay 3000 an acre then in a few years it maybe 15000 so you would pay gains tax on that gain but then in a few years it could be 3000 an acre again so that would be an issue and I doubt you could get a refund.

Re: Unrealized capital gains tax [Re: warrior] #8201382
08/22/24 08:47 PM
08/22/24 08:47 PM
Joined: Jan 2019
North central Iowa
B
Bob_Iowa Offline
trapper
Bob_Iowa  Offline
trapper
B

Joined: Jan 2019
North central Iowa
Nightlife isn’t that part of the definition of communism.

Re: Unrealized capital gains tax [Re: warrior] #8201393
08/22/24 09:04 PM
08/22/24 09:04 PM
Joined: Dec 2010
Armpit, ak
D
Dirt Offline
trapper
Dirt  Offline
trapper
D

Joined: Dec 2010
Armpit, ak
Be hard to figure gains that are not realized. or losses not realized. Seems that it would get real confusing. Seems simpler to just tax the realized losses or gains.


Who is John Galt?
Re: Unrealized capital gains tax [Re: warrior] #8201399
08/22/24 09:17 PM
08/22/24 09:17 PM
Joined: Oct 2014
Wisconsin
8117 Steve R Offline
trapper
8117 Steve R  Offline
trapper

Joined: Oct 2014
Wisconsin
I dont think simple is the goal. They want to take money from those that have saved and invested and give it to those who have not. And they want to do it now rather than want until gains or losses are realized.


Steve
WTA
NRA
Re: Unrealized capital gains tax [Re: warrior] #8201409
08/22/24 09:34 PM
08/22/24 09:34 PM
Joined: Dec 2008
Eastern Shore of Maryland
HobbieTrapper Offline
"Chippendale Trapper"
HobbieTrapper  Offline
"Chippendale Trapper"

Joined: Dec 2008
Eastern Shore of Maryland
So whose plasma gets spilled, the takers or the recipients?


-Goofy
Re: Unrealized capital gains tax [Re: warrior] #8201413
08/22/24 09:37 PM
08/22/24 09:37 PM
Joined: Mar 2023
WI
WI Outdoors Offline
trapper
WI Outdoors  Offline
trapper

Joined: Mar 2023
WI
Everything is gonna be ok.

Re: Unrealized capital gains tax [Re: WI Outdoors] #8201421
08/22/24 09:42 PM
08/22/24 09:42 PM
Joined: Dec 2010
Armpit, ak
D
Dirt Offline
trapper
Dirt  Offline
trapper
D

Joined: Dec 2010
Armpit, ak
Originally Posted by WI Outdoors
Everything is gonna be ok.


Well, at least for the 99% of us that don't have 100 million in assets.


Who is John Galt?
Re: Unrealized capital gains tax [Re: Bob_Iowa] #8201430
08/22/24 09:46 PM
08/22/24 09:46 PM
Joined: May 2008
Mn
N
nightlife Offline
trapper
nightlife  Offline
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N

Joined: May 2008
Mn
Originally Posted by Bob_Iowa
Nightlife isn’t that part of the definition of communism.


Pretty much but this is a blending of the extreme socialist agenda and the extreme green agenda and these are also the people that want to do away with money and all personal property after all you do t need money the government will provide everything you need

I used to wonder where these people would get the food for everyone and surprise here comes bill gates and his push for eating bugs and his push for bug farms

The short term socialist goal is to destroy the wealthy and insure that no one else make it to millionaire status, these people hate it that a large amount of people have managed to become wealthy through the internet and in their view there also undeserving unlike those elite politicians that know what best for us



�Everything in excess! To enjoy the flavor of life, take big bites. Moderation is for monks.�
― Robert A. Heinlein
Re: Unrealized capital gains tax [Re: 8117 Steve R] #8201432
08/22/24 09:48 PM
08/22/24 09:48 PM
Joined: May 2008
Mn
N
nightlife Offline
trapper
nightlife  Offline
trapper
N

Joined: May 2008
Mn
Originally Posted by 8117 Steve R
I dont think simple is the goal. They want to take money from those that have saved and invested and give it to those who have not. And they want to do it now rather than want until gains or losses are realized.


No they want to level everyone to having nothing but the basics all provided by the government



�Everything in excess! To enjoy the flavor of life, take big bites. Moderation is for monks.�
― Robert A. Heinlein
Re: Unrealized capital gains tax [Re: warrior] #8201450
08/22/24 10:11 PM
08/22/24 10:11 PM
Joined: Aug 2010
Asheville, NC
C
charles Offline
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charles  Offline
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Joined: Aug 2010
Asheville, NC
Doubt this will ever fly. Hope not anyway. Terrible idea.

Re: Unrealized capital gains tax [Re: Dirt] #8201469
08/22/24 10:37 PM
08/22/24 10:37 PM
Joined: Jan 2007
Georgia
warrior Online content OP
trapper
warrior  Online Content OP
trapper

Joined: Jan 2007
Georgia
Originally Posted by Dirt
Originally Posted by WI Outdoors
Everything is gonna be ok.


Well, at least for the 99% of us that don't have 100 million in assets.


Um, family farms, homes, businesses and the mundane assets of the 99%.


[Linked Image]
Re: Unrealized capital gains tax [Re: warrior] #8201479
08/22/24 10:55 PM
08/22/24 10:55 PM
Joined: Feb 2011
alberta
S
spjones Offline
trapper
spjones  Offline
trapper
S

Joined: Feb 2011
alberta
Will unrealized losses be able to be written off?


It’s the stupidest thing EVER!!

Re: Unrealized capital gains tax [Re: warrior] #8201488
08/22/24 11:07 PM
08/22/24 11:07 PM
Joined: Dec 2010
Armpit, ak
D
Dirt Offline
trapper
Dirt  Offline
trapper
D

Joined: Dec 2010
Armpit, ak
"Biden’s Treasury Department said it’s proposing “a minimum tax of 25 percent on total income, generally inclusive of unrealized capital gains, for all taxpayers with wealth (that is, the difference obtained by subtracting liabilities from assets) greater than $100 million.”"

Source: Market Watch.


"The Harris-endorsed budget calls for an annual 25 percent minimum tax on the unrealized gains of individuals with income and assets exceeding $100 million."

Source: Americans for Tax Reform

Last edited by Dirt; 08/22/24 11:10 PM.

Who is John Galt?
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