Feds about to tax unrealized capital gains?

Toadman005 said:
Synopsis for the stupid?
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Besides raising capital gains tax to 40%, they will annually tax unrealized capital gains.

For example, If you have $10,000 in stock you purchased in the last year, and at the end of the tax year it is worth, say, $16,000. They will tax you 40% of the $6,000, even though you haven't cash it in yet (a gain on paper, not realized, yet). However, if the stock tanks back to $10,000, and you cash it in to save your $10,000, you end up where you started, but you are still going to pay the 40% taxes on the $6,000 you never ever held in your hands!

Investors are already moving their stocks to foreign stock markets like India, to avoid this. The U. S. market is going to be squeezed hard. This is not going to end well.
 
This and the 600 dollar bank account watching is either misdirection for the real crap or if they are serious, well, guess they want an excuse for martial law after the resulting revolution.
 
The blues doing what they always have done: Tax and spend. They are going full bore on spending so they will go full bore on taxes. Why is anyone surprised?

th
 
RuffledFeathers said:
Besides raising capital gains tax to 40%, they will annually tax unrealized capital gains.

For example, If you have $10,000 in stock you purchased in the last year, and at the end of the tax year it is worth, say, $16,000. They will tax you 40% of the $6,000, even though you haven't cash it in yet (a gain on paper, not realized, yet). However, if the stock tanks back to $10,000, and you cash it in to save your $10,000, you end up where you started, but you are still going to pay the 40% taxes on the $6,000 you never ever held in your hands!

Investors are already moving their stocks to foreign stock markets like India, to avoid this. The U. S. market is going to be squeezed hard. This is not going to end well.
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Yep, taxing unrealized gains is ridiculous. Pretty sure it'll be a nightmare to enforce...
 
RuffledFeathers said:
I'm LOL, yet, it's really not funny what happened.
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See we are forced care because the US govt still has an old law on the book they used to use against blacks a lot pre civil rights where all natives who live on the reservation are considered unable to handle their own affairs so we basically have to go ask permission to even cut a fucking dead tree down on our land which again, we don't technically own, the US govt overseas our land for us.

If the rest of the country got a taste for it, there would be a revolution by days end.
 
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