K Harris to tax unrealized capital gains, what a JOKE, something only a commie can want. Stocks go up and go down a lot
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That 44.6% capital gains tax rate she wants is the highest rate ever. More than double the current rate. Carter had a super high 40%.
www.atr.org
Under the Harris proposal, the combined federal-state capital gains tax rate will exceed 50% in many states. California will face a combined federal-state rate of 57.9%, New Jersey 55.3%, Oregon 54.5%, Minnesota 54.4%, and New York 53.4%.
Capital gains are not indexed to inflation, so Americans are stuck paying tax on some “gains” that are nothing more than inflation — something created by Washington and then taxed by Washington. The Biden-Harris high inflation makes this especially painful.
Many hard working couples who started a small business at age 25 who now wish to sell the business at age 65 will face the Harris 44.6% top rate, plus state capital gains taxes. And much of that “gain” in value over the decades is simply due to inflation.
Capital gains taxes are often a form of double taxation. When capital gains come from stocks, stock mutual funds, or stock ETFs, the capital gains tax is a cascaded second layer of tax on top of the current federal corporate income tax of 21%. (Harris has also proposed a corporate income tax hike to 28%).
Kamala Harris Calls for Highest-Ever Capital Gains Tax Rate of 44.6% - Americans for Tax Reform
And don’t forget to add the state capital gains tax: the Kamala Harris combined federal-state rate would exceed 50% in many states Kamala Harris has proposed the highest capital gains tax rate since its inception 102 years ago: 44.6 percent. The proposed Harris top capital gains tax rate is more…
www.atr.org
Under the Harris proposal, the combined federal-state capital gains tax rate will exceed 50% in many states. California will face a combined federal-state rate of 57.9%, New Jersey 55.3%, Oregon 54.5%, Minnesota 54.4%, and New York 53.4%.
Capital gains are not indexed to inflation, so Americans are stuck paying tax on some “gains” that are nothing more than inflation — something created by Washington and then taxed by Washington. The Biden-Harris high inflation makes this especially painful.
Many hard working couples who started a small business at age 25 who now wish to sell the business at age 65 will face the Harris 44.6% top rate, plus state capital gains taxes. And much of that “gain” in value over the decades is simply due to inflation.
Capital gains taxes are often a form of double taxation. When capital gains come from stocks, stock mutual funds, or stock ETFs, the capital gains tax is a cascaded second layer of tax on top of the current federal corporate income tax of 21%. (Harris has also proposed a corporate income tax hike to 28%).
Debp
Well-Known Member
Yes, her plan is crazy. As if people aren't suffering enough in this country with high food prices, high gas, etc.
Debp
Well-Known Member
What the Socialist should do is like we do in Australia, Tax Fuel at the rate we do, or as Europe does !
And Tax Smoking like Australia does and Tax on Grog !
No one cares less in Australia that they pay such in Tax. Or is it just the Media cover such up ?
We pay 3 times as much for Power than we should, but the majority do not have a clue that we are being totaly ripped off ! not to mention all of the scams the Power Companys play. The Media keep it all undercover and the truth hidden real well, so it does not come out.
We once had to pay Death Dutys but a Nationalist Party Premier got rid of that in the 80's for QLD State and the rest of the States had to follow.
But now that the Governments have squandered so much money, they will have to find ways to get big money back to help the Government out from their reckless spending ! That's what happens in fact.
We had PM Bob Hawk in the 80's rip the guts out of old peoples retirment nest eggs, The Media said nothing at all in regards to them people being sold out ! But Bob got the Government back in the Black in doing so, he did not even know that this would put the State in the Black, the first time that a Socialist Party ever made money ! they were always in the Red ! But for the thanks to old retired people being squandered.
What ever the Government debt is ! it's only you who has to pays such money back, with intrest ! But the majority do not understand even that issue at all !
Like all this money being squandered for the War in Ukraine ? No one cares less ! or is it just that the Media do not inform you all, who is paying for it all !
The War in Ukraine would stop in one day if the People of the USA were made to pay for the War in Ukraine, on the nose ! like just increase full Tax, Grog and Smokes directly to pay for it all ! but No it just all goes on the Never never Tax with intrest to be payed but all of the nubskulls do not realise such at all in fact ! for if they did understand the reality of it all, they would be really pissed off and maching in the streets !
And Tax Smoking like Australia does and Tax on Grog !
No one cares less in Australia that they pay such in Tax. Or is it just the Media cover such up ?
We pay 3 times as much for Power than we should, but the majority do not have a clue that we are being totaly ripped off ! not to mention all of the scams the Power Companys play. The Media keep it all undercover and the truth hidden real well, so it does not come out.
We once had to pay Death Dutys but a Nationalist Party Premier got rid of that in the 80's for QLD State and the rest of the States had to follow.
But now that the Governments have squandered so much money, they will have to find ways to get big money back to help the Government out from their reckless spending ! That's what happens in fact.
We had PM Bob Hawk in the 80's rip the guts out of old peoples retirment nest eggs, The Media said nothing at all in regards to them people being sold out ! But Bob got the Government back in the Black in doing so, he did not even know that this would put the State in the Black, the first time that a Socialist Party ever made money ! they were always in the Red ! But for the thanks to old retired people being squandered.
What ever the Government debt is ! it's only you who has to pays such money back, with intrest ! But the majority do not understand even that issue at all !
Like all this money being squandered for the War in Ukraine ? No one cares less ! or is it just that the Media do not inform you all, who is paying for it all !
The War in Ukraine would stop in one day if the People of the USA were made to pay for the War in Ukraine, on the nose ! like just increase full Tax, Grog and Smokes directly to pay for it all ! but No it just all goes on the Never never Tax with intrest to be payed but all of the nubskulls do not realise such at all in fact ! for if they did understand the reality of it all, they would be really pissed off and maching in the streets !
Debp
Well-Known Member
This video explains very well how the unrealized Capital Gains tax will tremendously hurt home owners. Example given of a senior citizen with a home.
Kamala really doesn't care about our citizens.
Short video.
Debp
Well-Known Member
If Kamala does win, it will probably mean God's judgement coming down on the country. Such crazy, evil Wokeness that Kamala and Walz support wholeheartedly.
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