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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][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]

Whoa— not good for most investors. This is why the Democratic Party has been dubbed “tax and spend”  . No thank you! [/quote]

Exactly what percent of the American public do you believe has an over 1 million dollar income or estates over 10M for married couples?[/quote]

It doesn't matter.  Even if ONE person is impacted it is a very bad idea.

Once the government starts taxing people on money they have not received we are going down a dark road.  It may be only a few people now, but what will stop these progressive leaders from lowering the bar.  When they need more money to fund their progressive projects, it will be lowered to those making $400,000.  
It is a ludicrous idea and one that sane people should reject. [/quote]

So you think the current tax structure with all off the changes from the 1980s works better from the average person than it used to?[/quote]

What a red herring.  
We are talking about the insane ideal of taxing unrealized gains.  This has nothing to do with other changes to tax codes.  [/quote]

Why should any of us care about people who make 1 mil or have 10 mil in assets? We should be trying to reduce income inequality and pay for our government rather than crying about the wealthy. Can you explain why anyone (who has a normal income) should care about this?

[/quote]

I have over $10M and I care. I created a successful IT business with my own and borrowed funds that now employs over 163 people. My skilled employees enjoy excellent salaries, healthcare benefits that my company pays over half the premiums for, 401K matching so they can eventually retire with a good next egg, business class travel, and other benefits. My company provides a service that is in demand. I took the risk....I should reap the reward.[/quote]

We sound similar. Except we employ more people, and have net worth quite a bit north of $10M. We came here as poor immigrants, and have worked our tail off and utilized the resources offered by the country to get to where we are. Happy to pay back, once we get to $100M. We can't use up $100M in our lifetime. [/quote]
Sure you can. [/quote]

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