President Joe Biden - Kamala Harris Administration

#17,077
#17,077
volinbham said:
she said capital gains are a large portion of the "income" of the wealthy then goes on to say that when they are unrealized they escape taxation.

if they are unrealized they are not a portion of the "income".

Also, can we claim unrealized losses as reductions in income?
Click to expand...

...and to realize the gains, there must be a transaction or conversion to cash. The government can't accept Bezos' shares in Amazon as payment. He must sell shares to make the payment. An action that reduces the value of the asset being taxed in the first place. What is the value of something that has to be sold? Less than yesterday. Everyone that owns Amazon stock will suffer and the pond will ripple with an instant reduction in all asset prices. Democrat socialists are economic morons.
 
  • Like
Reactions: tbwhhs, norrislakevol, Vol423 and 1 other person
#17,081
#17,081
K-town Vol Fan said:
I dont allow politics to consume my life to a point where I actually get upset about anything. Life is too short.
Click to expand...

Then you may not be suited for this particular forum. There are extremists on both sides and then there is a larger population who discuss politics of the day. You can choose to be in whichever population you want to be in.
 
  • Like
Reactions: Sandman 423, Vol423, AM64 and 1 other person
#17,087
#17,087
ButchPlz said:
I can't decide if they're all stupid, evil, or a heaping helping of both.
Click to expand...

They aren't stupid at all. This is likely as much about creating dissension - class warfare - creating civil fractures. Don't forget they are trying to promote another witch - Omarova winner of the Lenin Award at Moscow State University. Most people should be asking why she would fit in a democratically based government at all.
 
  • Like
Reactions: tbwhhs, W.TN.Orange Blood, Orangeburst and 3 others
#17,092
#17,092
BreatheUT said:
Worst start to a presidency in my lifetime.
Click to expand...

This is just the start. Stick around ... you ain't seen nothin' yet. Biden and his gang of fools are just getting the bonfire lit and they really haven't thought though all the consequential damages ... just Act 1. They've learned how totalitarians take over weak countries and think it's a map; what they are missing is there are a lot of people here who do have something to fight for ... and which faction has the resolve and tools to fight back ... shouldn't wake sleeping giants.
 
  • Like
Reactions: tbwhhs, W.TN.Orange Blood, davethevol and 5 others
#17,093
#17,093
AM64 said:
This is just the start. Stick around ... you ain't seen nothin' yet. Biden and his gang of fools are just getting the bonfire lit and they really haven't thought though all the consequential damages ... just Act 1. They've learned how totalitarians take over weak countries and think it's a map; what they are missing is there are a lot of people here who do have something to fight for ... and which faction has the resolve and tools to fight back ... shouldn't wake sleeping giants.
Click to expand...

I agree. I was just thinking about it today. There are a lot of Americans that will fight for freedom domestically who never expected to be in this situation years ago. They know that. I've said it before, I think that is the reason for this preemptive domestic terrorist label they want to place on normal hardworking citizens. This country has moved so far to the left from even what Clinton stood for in the 90's. Now they are just openly trying to divide for power.
 
  • Like
Reactions: AM64
#17,096
#17,096
Fun coupon VOL said:
correct me if I’m wrong here, but unrealized gains are face value adjustments to assets. There is $0 income or cash involved. This is all balance sheet.
Click to expand...
It's the difference between the current fair value (market value) and the cost basis. Of course, since the gains are unrealized, there is no cash resulting from those unrealized gains. That means that in order to pay taxes on unrealized gains, you could potentially have to SELL the damn assets to raise cash to pay the taxes. The problem is that the incompetent jacka$$e$ in the Biden Administration and in the Democratic side of Congress don't seem to understand that fact. Then you get into more interesting problems like valuation of assets such as a privately held company, a farm, collectibles like artwork, etc.
 
  • Like
Reactions: AM64, Boca Vol, BreatheUT and 1 other person
#17,097
#17,097
Vol423 said:
It's the difference between the current fair value (market value) and the cost basis. Of course, since the gains are unrealized, there is no cash resulting from those unrealized gains. That means that in order to pay taxes on unrealized gains, you have to SELL the damn assets to raise cash to pay the taxes. The problem is that the incompetent jacka$$e$ in the Biden Administration and in the Democratic side of Congress don't seem to understand that fact. Then you get into more interesting problems like valuation of assets such as a privately held company, a farm, collectibles like artwork, etc.
Click to expand...

...and what about the unrealized gains in pension funds. institutions, sports franchises, etc. How bout them Cowboys? Jerry Jones is worth around $11 b's and the Cowboys are worth around $7 b's. How is he going to pay the unrealized cap gains tax on them? Gonna get Billy Joe's Appraisal Service in Bug Tussle, TX to value it all? This is all stupid beyond belief. These fool socialists don't understand what they're doing and yet they are in charge. Just damn ridiculous.
 
  • Like
Reactions: tbwhhs, AM64, NorthDallas40 and 5 others
#17,100
#17,100
Vol423 said:
It's the difference between the current fair value (market value) and the cost basis. Of course, since the gains are unrealized, there is no cash resulting from those unrealized gains. That means that in order to pay taxes on unrealized gains, you could potentially have to SELL the damn assets to raise cash to pay the taxes. The problem is that the incompetent jacka$$e$ in the Biden Administration and in the Democratic side of Congress don't seem to understand that fact. Then you get into more interesting problems like valuation of assets such as a privately held company, a farm, collectibles like artwork, etc.
Click to expand...
The really fun part about the valuation issues is that the uber wealthy individuals will keep the world's best valuation experts and attorneys on retainer. When challenged by the government on the valuations they've assigned to assets that don't have a clearly assigned market value, those experts will run circles around the idiots in the IRS. The result will be that the uber wealthy won't get hit for high taxes on those assets. It's the ordinary guy on the street that will be paying taxes through the nose for those types of assets because they can't afford the world's greatest attorneys and valuation experts.
 
  • Like
Reactions: LouderVol, tbwhhs and AM64
New posts
You must log in or register to reply here.

VN Store



Back
Top