Home› Tug Tavern

Howdy, Stranger!

It looks like you're new here. Sign in or register to get started.

Sign In Register
Welcome to the Hardcore Husky Forums. Folks who are well-known in Cyberland and not that dumb.

Biden Admin wants new taxes of billionaires, including....

AtomicPissAtomicPiss Administrator, Swaye's Wigwam Posts: 64,596 Founders Club
in Tug Tavern
taxes on unrealized profits on investments (capital gains).
· Share on FacebookShare on Twitter

Comments

  • WestlinnDuckWestlinnDuck Member Posts: 15,731 Standard Supporter
    What's the unrealized gain on an office building? You can get a valuation on publicly traded bonds and stocks, but what is a private business worth? Then the federal government will just burn up the money for no return other than inflation. This isn't a money raiser, but punishment. So, if bitcoin is at $68k when the unrealized profit is taxes and then is now at $45k, do you get your unrealized tax back? As usual, the government solution would be to hire thousands of IRS auditors and the billionaires would hire thousands of accountants, valuation experts and lawyers and this would not produce exactly no produced goods and investment would plummet actually costing billions in lost GDP. What was wrong with the economy in March of 2020? If you wanted record employment rather than the leftards laying of 20+ million employees and destroying tens of thousands of small business then try free enterprise, the security of private property and record US energy production.
    · Share on FacebookShare on Twitter
  • MikeDamoneMikeDamone Member Posts: 37,781
    What a bunch of dumb fucks. I'm sure Krugman and Reich approve.
    · Share on FacebookShare on Twitter
  • PurpleThrobberPurpleThrobber Member Posts: 44,870 Standard Supporter
    MikeDamone said:

    What a bunch of dumb fucks. I'm sure Krugman and Reich approve.

    You misspelled @MelloDawg
    · Share on FacebookShare on Twitter
  • Bob_CBob_C Member, Swaye's Wigwam Posts: 10,936 Swaye's Wigwam
    People have no clue how bad of any idea this is. The amount of capital that will get sucked out of the market overnight is a crazy number.
    · Share on FacebookShare on Twitter
  • GoduckiesGoduckies Member Posts: 6,876
    This is so dumb... they will have to sell stock to cover this all to be wasted by the feds... pure crap.
    · Share on FacebookShare on Twitter
  • UW_Doog_BotUW_Doog_Bot Member, Swaye's Wigwam Posts: 16,210 Swaye's Wigwam
    @MelloDawg care to put on your big boy panties and explain your position?
    · Share on FacebookShare on Twitter
  • HHuskyHHusky Member Posts: 21,628
    God damnit! I'm gonna hafta drink domestic wine now.
    · Share on FacebookShare on Twitter
  • greenbloodgreenblood Member Posts: 14,522
    edited March 2022
    Buy stocks in May and sell them before year end. Rinse and repeat. That will be the new strategy.

    Can you then deduct unrealized losses?
    · Share on FacebookShare on Twitter
  • 46XiJCAB46XiJCAB Member Posts: 20,967
    This has been tried in other countries. It failed and was rescinded. But Joey and his handlers need to make their idiot base FEEL like they care and are sticking it to those nasty Billionaires.

    I don’t care if Gates and Bezos are taxed more but to believe this is actually going to do anything positive is foolishness.
    · Share on FacebookShare on Twitter
  • SoutherndawgSoutherndawg Member, Swaye's Wigwam Posts: 8,322 Founders Club
    UW_Doog_Bot said:

    @MelloDawg care to put on your big boy panties and explain your position?

    · Share on FacebookShare on Twitter
Sign In or Register to comment.