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I hope that Wiz can live through this.
Thank goodness they have another "the sky is falling" talking point. Because they are losing the culture war.
This includes the new tax on unrealized capital gains.- It applies only to individuals with at least $100 million in wealth who do not pay at least a 25% tax rate on their income (inclusive of unrealized capital gains). Payments can be spread out over subsequent years.
- Within that $100 million club, you'd only pay taxes on unrealized capital gains if at least 80% of your wealth is in tradeable assets (i.e., not shares of private startups or real estate). One caveat for this illiquid group is that there would be a deferred tax of up to 10% on unrealized capital gains upon exit.
- In short, it would not apply to most startup founders or investors. If any group should be tweeting mad face emojis, it's top hedge fund managers.
State of play: Democrats would need to sweep in November to have any shot of enacting this rule, likely as part of negotiations tied to the expiration of some 2017 tax cuts.
The bottom line: In the unlikely event this becomes law, it's a much smaller deal than the likes and retweets would have you believe.
Last edited by CGVT; August 23, 2024, 10:40 AM.I feel like I am watching the destruction of our democracy while my neighbors and friends cheer it on
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I feel like I am watching the destruction of our democracy while my neighbors and friends cheer it on
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We have a choice between a maniacal egotistical madman who will fix our borders, make us safer, and jumpstart a sick economy....or 4 more years of high inflation, rampant crime, open borders and our Constitution dissected and destroyed.
It's your choice. Neither is totally desirable but I'll take the former before the latter any day and twice on Sunday...Shut the fuck up Donny!
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Originally posted by CGVT View PostI hope that Wiz can live through this.
Thank goodness they have another "the sky is falling" talking point. Because they are losing the culture war.
This includes the new tax on unrealized capital gains.- It applies only to individuals with at least $100 million in wealth who do not pay at least a 25% tax rate on their income (inclusive of unrealized capital gains). Payments can be spread out over subsequent years.
- Within that $100 million club, you'd only pay taxes on unrealized capital gains if at least 80% of your wealth is in tradeable assets (i.e., not shares of private startups or real estate). One caveat for this illiquid group is that there would be a deferred tax of up to 10% on unrealized capital gains upon exit.
- In short, it would not apply to most startup founders or investors. If any group should be tweeting mad face emojis, it's top hedge fund managers.
State of play: Democrats would need to sweep in November to have any shot of enacting this rule, likely as part of negotiations tied to the expiration of some 2017 tax cuts.
The bottom line: In the unlikely event this becomes law, it's a much smaller deal than the likes and retweets would have you believe.
But seriously, taxing unrealized gains is a terrible idea. Even if it's confined to a small handful of billionaires. Classic proposal from the party that has no real understanding of economics.Last edited by Hannibal; August 23, 2024, 11:03 AM.
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Welp, you probably better get used to it, because it looks like that's who we're going to get. Trump is giving away the election. The Rs are a total mess. Better hope that DeSantis comes back in 2028 with a different campaign manager. But by then it will probably be too late.
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You all just come to grips with the fact that Republican policies are not popular with the majority of America.
You think they are because you live in your little bubble of right wing web sites, FOX News and Newsmax
But the reality is that most of America disagrees with you.
The only hope you have is trying to scare old white people into believing that brown people are coming to their neighborhoods and regurgitating half-truths and lies.Last edited by CGVT; August 23, 2024, 11:16 AM.I feel like I am watching the destruction of our democracy while my neighbors and friends cheer it on
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