Posted on 08/21/2024 3:12:59 AM PDT by Kid Shelleen
In President Joe Biden’s proposal in the Fiscal Year 2025 Budget of the United States Government, and more specifically in the General Explanations of the Administration’s FY 2025 Revenue Proposals, the Biden administration has proposed a slate of bold shifts in tax policy that could redefine high income tax planning and investment strategies.
Among the most striking initiatives in the FY2025 Budget Proposal is a set of proposals taxing unrealized gains—a concept ---SNIP-- . A shift in tax policy towards tapping revenue streams in unrealized gains is almost certainly on the horizon-
(Excerpt) Read more at forbes.com ...
“There is no way the government will ever try to tax your 401Ks or any other unrealized assets.”
Whew. Thanks for setting my mind at ease. Now I can get back to peaceful sleep with my insomnia cured.
The sooner Trump gets in the better we’re all be.
They will always be able to find someone worse off than you to justify taking everything you have.
....For the children of course.
Can someone please remind me what country this is that I’m in?
Joy-that word’s been going around lately. Contrast with Trump?
Good for lawyers and cpa, need double irs again to track and collect.
Meanwhile people with assets give up citizenship move to lower tax countries.
Resulting in not much revenue increase but far more regulation and government employees
Great tax me on money that hasn’t been made and hence I don’t have it to pay
Did Kamala come up with this idea?
Lordy what a bunch of fools
You would think this would be wildly unpopular and probably unconstitutional, especially the unrealized gains tax.
However, if you flood the country with millions of really poor people and make millions of your own citizens poor, people that own nothing and are happy with it, selling this idea makes a lot of sense to that group, basically a Robin Hood idea, steal from the rich to give to the poor, not realizing in the lead up to this tax being implemented you would have a depression to rival anything we’ve ever experienced.
Is or was?>
You were in America at one point in your life.
It would be a never ending accounting nightmare to track asset growth or shrinkage on a tax year basis - assets are constantly rising and falling in value from one day to the next. On what day is the valuation to be made? Keeping track of this valuation date from one year to the next on assets that are not liquidated will only make your tax accountant rich and happy.
What about ‘unrealized LOSSES’?....................
The USSA.............
Silly me....... I worry about a breakout of post birth abortions
Kraft durch Freude! - Komarad Kamala
We’re still in America.
But were no longer a republic.
...we’re...
AINO?
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