Comment on But how would they be able to live on that?
dream_weasel@iusearchlinux.fyi 2 months agoYeah it’s taxed at a much lower rate. Short term capital gains is a real bitch. Long term isn’t so bad unless you’re liquidating a lot… Like enough to buy a house or car or something we are discussing now. Over 450k ish is taxed 20%, but you can get a loan for 3 to 12 percent AND it’s tax deductible lol.
Really, if you aren’t rich with stock you are getting F-ed in the A…
If a hypothetical unrealized gains taxed passed today then there is a chance of poor people getting F-ed in the A, especially people with retirement funds or VYM shares. There is even a chance it hurts the poorer 80% more than the richer 20%.
The 2016 Tax Reform is a great example of that, it got tons of support from poor people and middle class and in the end it fucked them all in the A.
Depends on the structure. If it’s 3% on value over 5 million, then the bottom 95% will not even have a dent. If it is paid by even average retirement funds, but funds more expensive Medicaid or your kids college education, you still win. It all depends on the details.
I suppose there might be some sell off to cover the tax bills if the wealthy, but it probably wouldn’t shake the markets too much.
FiniteBanjo@lemmy.today 2 months ago
Sorry I misread your comment before I responded.
dream_weasel@iusearchlinux.fyi 2 months ago
NBD, I saw this first actually.