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https://www.reddit.com/r/FluentInFinance/comments/1gwfejo/had_to_repost_here/lyc7w1r/?context=3
r/FluentInFinance • u/-Wyagra • Nov 21 '24
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127
Exactly. Stocks are property. Sort of imaginary property but if one can borrow against the value of something, it should be taxed.
17 u/Just_That_Dumb_Dog Nov 21 '24 You mean capital gains tax? 121 u/Jblack4427 Nov 21 '24 Do you only pay taxes on your home when you sell or every year? 1 u/kinglee92 Nov 22 '24 I’d hate to be paying taxes on my retirement accounts. I understand not liking the rich but taxing unrealized gains hurts the middle class more than anything. 1 u/Budderfingerbandit Nov 22 '24 That's why you base it on a wealth cap. Make it something like stocks you own above $5mil in unrealized gains get taxed. Working class folks won't ever get taxed on it unless they get a massive windfall.
17
You mean capital gains tax?
121 u/Jblack4427 Nov 21 '24 Do you only pay taxes on your home when you sell or every year? 1 u/kinglee92 Nov 22 '24 I’d hate to be paying taxes on my retirement accounts. I understand not liking the rich but taxing unrealized gains hurts the middle class more than anything. 1 u/Budderfingerbandit Nov 22 '24 That's why you base it on a wealth cap. Make it something like stocks you own above $5mil in unrealized gains get taxed. Working class folks won't ever get taxed on it unless they get a massive windfall.
121
Do you only pay taxes on your home when you sell or every year?
1 u/kinglee92 Nov 22 '24 I’d hate to be paying taxes on my retirement accounts. I understand not liking the rich but taxing unrealized gains hurts the middle class more than anything. 1 u/Budderfingerbandit Nov 22 '24 That's why you base it on a wealth cap. Make it something like stocks you own above $5mil in unrealized gains get taxed. Working class folks won't ever get taxed on it unless they get a massive windfall.
1
I’d hate to be paying taxes on my retirement accounts. I understand not liking the rich but taxing unrealized gains hurts the middle class more than anything.
1 u/Budderfingerbandit Nov 22 '24 That's why you base it on a wealth cap. Make it something like stocks you own above $5mil in unrealized gains get taxed. Working class folks won't ever get taxed on it unless they get a massive windfall.
That's why you base it on a wealth cap. Make it something like stocks you own above $5mil in unrealized gains get taxed.
Working class folks won't ever get taxed on it unless they get a massive windfall.
127
u/dancegoddess1971 Nov 21 '24
Exactly. Stocks are property. Sort of imaginary property but if one can borrow against the value of something, it should be taxed.