Seriously? Somehow I think this is more pablum for the MAGA group think. She is a job creator. You sound like the small business folk who argue against raising the minimum wage.youthathletics wrote: ↑Thu Aug 29, 2024 12:53 pmI am quite aware...I deal with this daily. Which argues the point further. The ramifications of her plan has the potential for significant unintended consequences of major businesses wanting to continue to business here.Farfromgeneva wrote: ↑Thu Aug 29, 2024 12:01 pmUtilizing a system isn't the same thing as supporting it.youthathletics wrote: ↑Mon Aug 26, 2024 4:31 pmI understand all that, but as you noted, you and those with careers that support these 'manipulative tax' issues, are already navigating the system to avoid the tax penalty, only to now have it double under her plan.MDlaxfan76 wrote: ↑Mon Aug 26, 2024 2:50 pmI can't tell you her reasons, but in general capital gains rates below regular income rates rewards capital investment (a good thing) but this reward is overwhelmingly benefiting the very most wealthy in society, including those who earn little regular income from direct work and instead merely deploy capital (or have someone do that for them). There's very little justification for that form of wealth accumulation to not be taxed the way actual work is taxed.youthathletics wrote: ↑Mon Aug 26, 2024 2:05 pm Can anyone explain why Kamala wants to nearly double the Long-Term Capitol Gains tax and how that impacts each and everyone of us, for instance when we go to sell a home or any other investment?
If you go to here website, its like a damned gofundme site...bombarded with donation popups .
We can debate the merits of specific policies if you'd like, including carveouts for things like primary home and family farms, but in general I think our capital gains rates are too low. And that's coming from someone acutely aware of managing some family assets to avoid capital gains as best as possible under the rules.
I thought I read it was for people with incomes >1mm/yearly combined, but I beleieve that was for something entirely different in her plan. Fudging income becomes an easily manipulative task and what it seems to do is fug-up everyone else that are doing things by the book, stayed in home for decades, paid it off, plan on that money being a large portion of retirement, etc-etc; the 'middle-class' that they claim they are 'for'.
https://www.investopedia.com/unrealized ... on-8703570