ST Alpha - "Obviously they’re using scare tactics to rally the troops to hate the rich who passively grew their wealth but aren’t selling to realize their gains." (Reading a Post)

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In response to "Obviously they’re talking about wealth on a scale far greater than home ownership. -- (edited)" by znufrii

Obviously they’re using scare tactics to rally the troops to hate the rich who passively grew their wealth but aren’t selling to realize their gains.

Posted by Will Hunting (aka JoeMetz) Jun 8 '21, 07:26

You ever consider what happens if Bezos has to sell 40billion dollars in Amazon stock to pay an imaginary tax bill? Imagine that for every rich person who then loses another 15% in the capital gains tax.

You will *kill* the market quickly if unrealized success incurs a defacto 50% tax burden.

Responses:

I would be skeptical of any proposal that would include taxing unrealized gains at the full cap gains rate, but there’s a lot of room for a lower rate -- (edited) - znufrii Jun 8, 07:34 3
- You could even think of it as just making estimated annual tax payments on your future capital gains, instead of a tax in and of itself. -- nm* - znufrii Jun 8, 08:12 2
  - It would also partially resolve the issue of trying to eliminate stepped-up basis when assets are inherited. -- nm* - znufrii Jun 8, 08:17 1
    - I’m putting way too much thought into this, aren’t I? -- nm - znufrii Jun 8, 08:20
And then there's the issue of large privately held companies vs. public ones. Sure, Forbes et al. make an estimate of value but they're still guessing - Barontronic Jun 8, 07:33

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Obviously they’re using scare tactics to rally the troops to hate the rich who passively grew their wealth but aren’t selling to realize their gains.

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