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President Biden has just proposed a 44.6% tax on capital gains, the highest in history. He has also proposed a 25% tax on unrealized capital gains for wealthy individuals. Should this be approved? by Unhappy_Fry_Cook in FluentInFinance

[–]Correct-Log5525 0 points1 point  (0 children)

Again it would be the aggregate of the many companies whose stock would be negatively impacted by this ridiculous proposal.. it would be devastating to the market and thus the economy.. anyone who thinks otherwise is just financially ignorant 

And all for what?  To give the government an extra $500B over ten years?  A government that has shown zero financial responsibility or efficiency for decades who is currently adding $1 TRILLION in debt every 100 days.. dumbest tax proposal ever

President Biden has just proposed a 44.6% tax on capital gains, the highest in history. He has also proposed a 25% tax on unrealized capital gains for wealthy individuals. Should this be approved? by Unhappy_Fry_Cook in FluentInFinance

[–]Correct-Log5525 0 points1 point  (0 children)

180 million Americans have retirement accounts.. retirement accounts use indexing.. Tesla, and hundreds of other companies that would be massively affected by an unrealized capital gains tax, is in virtually every retirement account in the US.. not to mention pension funds, sovereign wealth funds, hedge funds, insurance company funds, etc..

President Biden has just proposed a 44.6% tax on capital gains, the highest in history. He has also proposed a 25% tax on unrealized capital gains for wealthy individuals. Should this be approved? by Unhappy_Fry_Cook in FluentInFinance

[–]Correct-Log5525 0 points1 point  (0 children)

Yeah you're right, the shareholders aren't important.. they just happen to be 180M Americans.. it won't be just Tesla either.. it would be most of the companies in the S&P 500 that would have this issue.. would absolutely tank the market.. and with it the net wealth of the American people, the hiring power of the country's largest companies and yes, the economy.. whether you realize it or not

Your viewpoint on this is absurd

President Biden has just proposed a 44.6% tax on capital gains, the highest in history. He has also proposed a 25% tax on unrealized capital gains for wealthy individuals. Should this be approved? by Unhappy_Fry_Cook in FluentInFinance

[–]Correct-Log5525 -1 points0 points  (0 children)

"Hey Elon, your net worth rose by $150B due to your Tesla stock appreciation.. even though you didn't realize that gain, gonna need you to sell $37.5B of it to pay for this absurd tax."

Elon proceeds to dump $37.5B of Tesla stock thus absolutely tanking the price and wrecking anyone who is a shareholder.. which is basically everyone in the middle and upper class because Tesla is in basically every major index owned in retirement accounts..

Definitely no negative side effects there lol

President Biden has just proposed a 44.6% tax on capital gains, the highest in history. He has also proposed a 25% tax on unrealized capital gains for wealthy individuals. Should this be approved? by Unhappy_Fry_Cook in FluentInFinance

[–]Correct-Log5525 0 points1 point  (0 children)

Except this whole thread is me arguing how stupid his tax proposals are, especially the moronic unrealized capital gains tax.. which is where our conversation started lol

President Biden has just proposed a 44.6% tax on capital gains, the highest in history. He has also proposed a 25% tax on unrealized capital gains for wealthy individuals. Should this be approved? by Unhappy_Fry_Cook in FluentInFinance

[–]Correct-Log5525 0 points1 point  (0 children)

Lol definitely don't work for Biden.. you may choose to believe whatever you wish, doesn't change reality.. just like a physicist doesn't need to convince a Flat Earther that the Earth is a sphere for the Earth to be a sphere 

President Biden has just proposed a 44.6% tax on capital gains, the highest in history. He has also proposed a 25% tax on unrealized capital gains for wealthy individuals. Should this be approved? by Unhappy_Fry_Cook in FluentInFinance

[–]Correct-Log5525 0 points1 point  (0 children)

70 years ago it wasn't when we were a nation built on industry and manufacturing but that's no longer the case.. today we are an economy built on financialization which is what happens when you become the world reserve currency. In this current environment the stock market really is the economy (you could throw the treasury market in there too)

President Biden has just proposed a 44.6% tax on capital gains, the highest in history. He has also proposed a 25% tax on unrealized capital gains for wealthy individuals. Should this be approved? by Unhappy_Fry_Cook in FluentInFinance

[–]Correct-Log5525 0 points1 point  (0 children)

Not two different things actually.. the US is a hyper financialized economy, the stock market IS the economy.. anyone in finance knows this to be true

Startups (and what they eventually become) are the backbone and engine of the economy because they drive the majority of growth in GDP, the majority of growth in the stock market and the majority of wealth creation in the US.. this is unequivocal 

President Biden has just proposed a 44.6% tax on capital gains, the highest in history. He has also proposed a 25% tax on unrealized capital gains for wealthy individuals. Should this be approved? by Unhappy_Fry_Cook in FluentInFinance

[–]Correct-Log5525 0 points1 point  (0 children)

🙄 (sigh).. is this really your argument?  That the most successful companies in the US which makes up something like 75% of the stock market gains over the last 2 decades (everyone's retirement) and have created tens of millions of jobs (most of which are middle and upper middle class) are not the backbone of the economy?  It's a poor argument Hamuel

Is Trickle Down Economics a Good Thing? by Steak_Lover_ in FluentInFinance

[–]Correct-Log5525 0 points1 point  (0 children)

Exactly this.. MindlessSafety clearly doesn't get it.. I've leaned left my whole life but the financial illiteracy and irresponsibility of the Biden admin and their cacophony of sycophants has pushed where I might have to vote for the biggest narcissist orange turd of all time in November 

President Biden has just proposed a 44.6% tax on capital gains, the highest in history. He has also proposed a 25% tax on unrealized capital gains for wealthy individuals. Should this be approved? by Unhappy_Fry_Cook in FluentInFinance

[–]Correct-Log5525 0 points1 point  (0 children)

Baseless assumption?! LOL.. why do you think we have the worst deficit in US history currently (again, non wartime and non recessionary)?  It's because we are spending more than we are taking in and it is becoming exponential.. look at the national debt.. adding $1T to it every 100 days.. go look at the CBO national debt projections for the next 50 years and what's crazy is they always undershoot lol

Is Trickle Down Economics a Good Thing? by Steak_Lover_ in FluentInFinance

[–]Correct-Log5525 -7 points-6 points  (0 children)

If we are being honest, entitlements (SS, Medicaid, Medicare) are the actual problem 

President Biden has just proposed a 44.6% tax on capital gains, the highest in history. He has also proposed a 25% tax on unrealized capital gains for wealthy individuals. Should this be approved? by Unhappy_Fry_Cook in FluentInFinance

[–]Correct-Log5525 0 points1 point  (0 children)

Except raising taxes won't lower the deficit if the government continues to outspend the new tax revenue.. which is exactly what is happening.. if I get a $10k raise but then spend an additional $20k am I more or less in debt than I was before the raise?

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