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So a friend posted this concept for taxing capital gains and I think I like it, but change my mind.

Posted by ty97 Jan 28 '21, 06:03

We know, today, that anything held under one year is 'short-term' capital gain taxed at your normal marginal rate

And anything held over a year is 'long term' capital gain taxed at 15%

Why not scale so that super short term capital gains are taxed at a higher %?

So for example, something held less than a day is taxed at 70%. Less than a week 50%, etc.

Responses:

I sort of like it if the goal is stability. This debacle is proving that there are too many easy - Will Hunting Jan 28, 06:13 4
- For me, this isn't even meant to target WSB/GME stuff, but the ongoing stuff that *Wall Street* does -- nm* - ty97 Jan 28, 06:18 1
  - Oh, I don’t disagree on the macro...but I also see a micro-benefit to intelligent model trading - Will Hunting Jan 28, 06:26
- Fundamentals is why I want nothing to do with owning this. But I'm laughing at the "BUT FUNDAMENTALS" people caught shorting a stock at more than 100% - Reagen Jan 28, 06:15 1
  - The money is nice but I’d imagine most short sellers value being right more. -- nm - spamlet Jan 28, 06:27
Classify them as gambling winnings. Done. -- nm - Hibernating Baron Jan 28, 06:08 5
- Isn’t that only 10%? -- nm - Will Hunting Jan 28, 06:10 4
  - My cursory googling said 24%. -- nm - Hibernating Baron Jan 28, 06:12 3
    - Damn, I’ve *really* been stiffing the IRS then. -- nm - Will Hunting Jan 28, 06:16 2
      - They're going to shut down your Bingo Cartel. -- nm - Hibernating Baron Jan 28, 06:24 1
        
        O-69! -- nm - Will Hunting Jan 28, 06:28
trade tax is simpler and gets to the heart of it faster, IMO. -- nm - Reagen Jan 28, 06:06 3
- But I'm selfish and don't want a new tax that *I* have to pay! -- nm - ty97 Jan 28, 06:07 2
  - Ok, boomer. -- nm - spamlet Jan 28, 06:38
  - Then run for Congress so you can exempt yourself! -- nm - Hibernating Baron Jan 28, 06:13
so you want to kill the daytraders? -- nm - decline Jan 28, 06:05 2
- Yes. And those computer systems that are buying and selling multiple times a day to make fractional gains each time. -- nm - ty97 Jan 28, 06:06 1
  - Liquidity? What’s that? -- nm - znufrii Jan 28, 06:28

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So a friend posted this concept for taxing capital gains and I think I like it, but change my mind.

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