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Joined: Oct 2013
Posts: 3,894
10 point
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10 point
Joined: Oct 2013
Posts: 3,894 |
Just saw where one of the "Platforms" in Kamala Harris's plan just released is a:
25% tax on UNREALIZED CAPITOL GAINS" An example of this: If you bought your home for $200,000 ten years ago and it is now valued at $300,000. The government will tax the $100,000 gain at 25% NOW, so you will owe $25,000 NOW even though you haven't sold your home. Their plan is to do this on everything you own including stock you have bought and are holding and haven't sold yet!!
It doesn't apply to those with less than $100 million in wealth. While I don't agree with taxing unrealized gains, at least know who they are going to tax. ps. You already pay a tax on unrealized capital gains. It is called a property tax. It may start out as 100 million, but they will drop it well below 100 million before long.
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