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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]She supports a tax on unrealized capital gains.

[twitter]https://x.com/Andreafreedom76/status/1822293095460839636[/twitter]

Americans Overwhelmingly Reject Harris-Biden Unrealized Capital Gains Wealth Tax |

The 2025 Biden budget proposes to tax long-term capital gains and qualified dividends at ordinary income tax rates for taxable income above $1 million and tax unrealized capital gains at death above a $5 million exemption ($10 million for joint filers).  If this tax proposal went through, investors would flee the stock market and potentially create a stock market crash effecting even pensions of middle class Americans.  [/quote]

Wonder what percentage of the population has taxable income above $1 million. Like, why would this be "wildly unpopular" when it doesn't affect 99% of the population?[/quote]

Were you paying attention to what happened with the stock market a week ago?  That should be a warning about the folly of taxing unrealized capital gains.  [/quote]

Calling unrealized capital gains AT DEATH “unrealized” is a huge misnomer.

Money is taxed when it changes hands.

When you die, the money is going to change hands.

This is actually one of the fairest and most painless ways to generate tax income.[/quote]

[b]This plan is NOT just on death.  It is overall.  And, it is a ludicrous idea. 
[/b]
[quote]The idea of taxing unrealized capital gains—increases in the value of an asset like property or stocks that haven’t been sold yet—is not only unprecedented but fundamentally flawed.

Imagine purchasing shares in a company for $1 million, and next year, those shares appreciate to $1.5 million. Under Biden’s plan, you would owe taxes on this $500,000 gain, despite not having sold the shares or realized any actual profit.

Now imagine that the stock’s value drops back to $1 million the following year. You’ve already paid 25% on a gain that existed only on paper, and now you’re also left shouldering a financial burden without any actual economic benefit.

You can see how this policy might not go over well with the investment community. As influential entrepreneur Anthony Pompliano tweeted last week, “If they want to collect unrealized gains, we’re going to need refunds on unrealized losses.”

Scott Melker, host of the popular Wolf of All Streets podcast, commented that wealthy investors would simply employ a special strategy to minimize the impact of this additional tax burden. Rich people, he says, “will just take more loans against their portfolios,” knowing that the interest they pay on those loans can often be deducted.

This policy could dramatically distort investment behavior, especially when it comes to small caps, startups and early-stage companies. These businesses are often the engines of growth and innovation within the economy, but they rely on investments from those willing to take risks for the promise of future returns.

Knowing that their unrealized gains will be taxed, investors would be less inclined to invest in growth-oriented businesses, which tend to see greater swings in valuation year-over-year than larger, more established companies.

The consequence? A slower rate of innovation and a reduced growth in productivity.[/quote]

https://www.forbes.com/sites/greatspeculations/2024/04/30/americans-overwhelmingly-reject-bidens-plan-to-tax-unsold-assets/[/quote]

This whole diatribe left out some crucial information. The tax plan “would include a 25% annual minimum tax on [i]unrealized capital gains for individuals with incomes and assets exceeding $100 million.”[/i]

That’s what? 0.01% of the people out there? Again I ask why this would be wildly unpopular, when only a handful of super wealthy people would be affected by it.

[youtube]https://youtu.be/Gqlbn2nPO-A?si=TPqPX9PpdLSVYfQZ[/youtube] (start around 1:20)

[/quote]

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