Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Unrealized Gain Tax—A Coming Sea Change in FY2025 Budget Proposal(Wealth Tax)
Forbes ^ | 08/21/2024 | Andrew Leahey

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 ...


TOPICS: Breaking News; Business/Economy; Constitution/Conservatism; Government; News/Current Events; Politics/Elections
KEYWORDS: andrewleahey; comradekamala; kamala; kamalanomics; kamalatruth; kamunism; taxes; theft; unrealizedgaintax; wealthtax
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-80 ... 161-165 next last
To: normbal

21 posted on 08/21/2024 4:09:11 AM PDT by dfwgator (Endut! Hoch Hech!)
[ Post Reply | Private Reply | To 17 | View Replies]

To: Kid Shelleen

Don’t be fooled. They want all our money. They will use it to buy votes from their favored groups. Then they will eliminate us.

The question is: what happens when all the producers are poor and dead, and there is no more money to confiscate?


22 posted on 08/21/2024 4:14:04 AM PDT by I want the USA back (Voltaire: To learn who rules over you, simply find out who you are not allowed to criticize.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Nifster
Lordy what a bunch of fools

They're not fools. They're thieves and tyrants. The whole point here is to impoverish you, make you dependent upon The State.

23 posted on 08/21/2024 4:15:18 AM PDT by NorthMountain (... the right of the people to keep and bear arms shall not be infringed)
[ Post Reply | Private Reply | To 9 | View Replies]

To: Jonty30

Deep State is.


24 posted on 08/21/2024 4:17:42 AM PDT by mewzilla (Never give up; never surrender!)
[ Post Reply | Private Reply | To 20 | View Replies]

To: Nifster

“Great tax me on money that hasn’t been made and hence I don’t have it to pay”

Tax time comes around and a hundred million people have to suddenly sell assets to pay the tax. What happens to the value of those assets when a hundred million people hit the “sell” button? Do you owe the taxes on the day the IRS declares or on the “profit” you made when you actually sell the assets? And if it turns out you didn’t make any profit on your forced sale, do you still owe the tax?


25 posted on 08/21/2024 4:19:34 AM PDT by Gen.Blather (Wait! I said that out loud? )
[ Post Reply | Private Reply | To 9 | View Replies]

To: Kid Shelleen

Let’s just call it the
“Elon Musk twitter tax”

If you read The article you see why


26 posted on 08/21/2024 4:25:01 AM PDT by janetjanet998 (Legacy media including youtube are the enemy of the people and must die)
[ Post Reply | Private Reply | To 1 | View Replies]

To: I want the USA back

Atlas Shrugged


27 posted on 08/21/2024 4:26:11 AM PDT by jkrecker416
[ Post Reply | Private Reply | To 22 | View Replies]

To: Kid Shelleen

I think this is where the you will own nothing and be happy kicks in. If they can continually tax you for everything you own, people will stop owning things. They will opt for renting and leasing. I am sure they will find a way to add a confiscatory tax to that too.


28 posted on 08/21/2024 4:26:24 AM PDT by 1malumprohibitum (I’m )
[ Post Reply | Private Reply | To 1 | View Replies]

To: I want the USA back

South Africa is what happens when the producers are all gone.


29 posted on 08/21/2024 4:26:54 AM PDT by Antihero101607
[ Post Reply | Private Reply | To 22 | View Replies]

To: ProtectOurFreedom

Is an unrealized loss tax deductible?


30 posted on 08/21/2024 4:36:08 AM PDT by Ronald77
[ Post Reply | Private Reply | To 2 | View Replies]

To: DIRTYSECRET

It took some searching, but I found the Strength through Joy campaign posters. (Germany 1938-1945) If an ideology can’t offer anything of substance, they go for a meaningless but psychologically loaded term like “joy.” Enjoy at the link.

https://perspectives.ushmm.org/item/photograph-of-strength-through-joy-event-at-strandbad-wannsee


31 posted on 08/21/2024 4:40:26 AM PDT by Gen.Blather (Wait! I said that out loud? )
[ Post Reply | Private Reply | To 7 | View Replies]

To: Kid Shelleen

Wouldn’t it be easier to just go back to barter?


32 posted on 08/21/2024 4:41:26 AM PDT by The Duke (Not without incident)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kid Shelleen

I said five years ago that the Demoncrats and the GOPeahens would confiscate our savings.


33 posted on 08/21/2024 4:42:13 AM PDT by Shady (The Force of Liberty must prevail for the sake of our Children and Grandchildren...)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kid Shelleen

A poison pill amendment would be to include the college endowments in this tax scheme. Imagine all of the major universities having to pony up $10 Billion each in taxes.

EC


34 posted on 08/21/2024 4:42:54 AM PDT by Ex-Con777
[ Post Reply | Private Reply | To 1 | View Replies]

To: kiryandil

That’s scary accurate.


35 posted on 08/21/2024 4:48:30 AM PDT by neverevergiveup
[ Post Reply | Private Reply | To 16 | View Replies]

To: Kid Shelleen

It isn’t enough to tax the hell out of you as you now earn and convert your income; they NEED to tax what you’ll be getting.

They’ve hocked our honor, integrity and blood, sweat and tears for massive pandering spending to stay in power.

That’s the ‘joy’ the Hairy/Balz-2024 campaign is talking about.


36 posted on 08/21/2024 4:50:19 AM PDT by Gaffer
[ Post Reply | Private Reply | To 1 | View Replies]

To: Justa

“They will always be able to find someone worse off than you to justify taking everything you have.” - so true.

This brings to mind one of the 10 questions a leftist cannot/will not answer: how much is enough? or what level of income should be taxed to the max?

No answer will be forthcoming because in the darkest part of their being their answer is: anyone who makes more than I. Of course that answer must never be verbalized because it puts a target on their back for everyone below them to aim for.


37 posted on 08/21/2024 4:53:55 AM PDT by ByteMercenary (Cho Bi Dung and KamalHo are not my leaders.)
[ Post Reply | Private Reply | To 4 | View Replies]

To: I want the USA back

As Margaret Thatcher once said, “The problem with socialism is, sooner or later, you run out of other people’s money.”


38 posted on 08/21/2024 4:58:25 AM PDT by Gnome1949
[ Post Reply | Private Reply | To 22 | View Replies]

To: Nifster

They’re not fools. They want a world in which ‘you own nothing.’ Just part of the plan.


39 posted on 08/21/2024 5:00:09 AM PDT by Twotone
[ Post Reply | Private Reply | To 9 | View Replies]

To: Red Badger

“What about ‘unrealized LOSSES’?..”

That will be limited to $3k per year.

Property value will be next.

You will own nothing and be joyful.


40 posted on 08/21/2024 5:00:40 AM PDT by PTBAA
[ Post Reply | Private Reply | To 13 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-80 ... 161-165 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson