/biz/ - Business & Finance

>>25906464
cause we keep forgetting what and who cause picrel

>>25906464
Proposed tax is 47%

So you make 1 million finally.

470,000 now belongs to illegals.

Oops and don’t forget some states have cap gains tax too. :)

>>25906464
What's this about a tax rate?

>>25906464
If you don't sell you won't be taxed, there should be a way to spend it at some point in the future

>>25906570
Why didnt trump win????? Aaaaahhhhhh

>>25906576
Capital gains rate in the US is about to go up for the top bracket.

>>25906576
https://www.investopedia.com/explaining-biden-s-tax-plan-5080766

>>25906570
Sauce? That sounds like total income tax for some Californian or New Yorker, not for Americans.

>>25906570
47% of 50% you low IQ racist. NGMI. It’s a 24% tax which isn’t outlandish considering it mainly effects billionaires. Sides do you even get taxed in your Roth IRA?

>>25906600
Fuck me. Literally the first year I'll be eligible the rate goes up. Renouncing citizenship suddenly looks more and more appealing

>>25906651
Imagine being (You)

>>25906651
I’m talking capital gains. I made 2 mil this year, not to pissed on owing 500k.

>>25906613
Biden’s tax plan would tax at 40% federally (also removing SALT (short and long term) cap gain tax for one fee for all). It’s for anyone making over 1M. So the 40% doesn’t kick in until your fiscal yearly income goes ABOVE 1M. How we for all the moonbois, it’ll fuck em. Then on top of the federal tax you have state income tax. In CA it’s 13%. So you’re looking at 53%

>>25906464
Wait so people have been holding for LTCG to sell at the top and now it’s going to be the equivalent of ordinary income tax? Wow.
>>25906651
>muh billionaires
Pls kys if you are actually this retarded and not being paid to shill this. This tax is being instituted at the single most optimal time to trap anyone who would otherwise have a chance of escaping wageslavery/middle class/six figure hell in order to actually enjoy real freedom. If you think this has any effect on real power brokers you need to go back.

>>25906651
how the fuck are you so stupid? how can you have access to all this information at the tip of your fingers, then come to a capitalistic Norwegian cigar aficionado share point and just be so fucking dumb.

bro it’s over 40% for 1mm and above no one said anything about muh ebil billionaires here, go virtue signal somewhere else

>>25906675
Fair point, but it still shows the Democrat run areas are wealthier.

Also below groups 250k with billionaires and says 48% are republicans. It needs a 0.1% entry.

>>25906834
>>25906766

Haha, reason I made 2 mil while you are worth 10k and sucking upperclass dick is because I’m not a angry neet. You guys need to chill, shit. NGMI.

>>25906951
2 mil is not enough to be truly free they are assrsaping us back into the wagecage anon.

Maybe you should work on fixing your country intead of whining about taxes

>>25906881
Lmao cities concentrate wealth. Crazy. I live in or near a city, like every other right and left wing businessman/investor. The only way I'm getting out is if I don't ever have to work again. Which is hopefully soon. I'm a capitalist, I can keep my beliefs to myself to make money

>>25906881
>ifaggot file name
>spamming a screencap from a thread tbat got zero (0) replies
dilate then kys

>>25906464
Give me your coins, I'll pay the (((tax)))

>>25906881
Those areas are crawling with homeless

>>25906760
So hold for a year and a day

>>25906881
>Fair point
Lol typical fucking retard confronted with the real evidence
>Fair point BUT!!! BUT!!!

>>25906760
Removing long term gains distinction for all or just gains above 1m?

>>25906651
:( why isnt alaska included?
Im from california but i still like seeing alaska on the map...thats the fucking homie wtf

>>25906534
based and jewpilled

>>25907246
https://www.msn.com/en-us/money/savingandinvesting/what-to-know-about-capital-gains-tax-changes-in-2021/ar-BB1cGkvL

I dunno anon. that's the real question for me. that dumb fucking gorillanigger wants to assault crypto and the stock market. plus you hear about this 10-year rule that got passed with the secure act?

https://www.irahelp.com/slottreport/10-things-know-about-secure-act%E2%80%99s-10-year-rule

They're coming for our inheritances too. 10 years to cash out a beneficiary account, forcing you to take taxable distributions.

It's us they're after. OUR GENERATION. They want us enslaved for life. This government is not legitimate.

>>25906613
new york and california and new jersey are even higher at up to 62%

>>25906464
>Bros is bidens tax rate really gonna prevent us from making it?
not even remotely
taxes are for stonk losers anyhoo

>>25906464
Honestly not a big deal to me. I'm planning on keeping most of my gains on-chain, only cashing out when necessary for purchasing things like a house or car or whatever. I don't see any reason I'd need to cash out a million dollars PER YEAR anyway. I'm planning on keeping the majority of it in stablecoins and/or hodling and just making passive income via Defi lending APY and staking.

>b-b-but crypto-to-crypto is taxable!!!
yeah, but not enforceable so long as you're not flipping shit back and forth on a KYC'd centralized exchange like coinbase.

>>25906464
World is becoming shit because jews are fucking insane and hate European blooded people

Also I don't actually think they'll go through with hiking capital gains like that, seeing as it's the main way the elite class build their wealth. They normally prefer to just hike up income taxes, where they advertise it as being a burden carried by the elites, but in reality it mainly just fucks over the upper-middle classes and small business owners and such.

Also if they actually jacked up capital gains tax too high it would cause a market crash at the end of december with everyone scrambling to get out of the market in order to lock in gains for the 2021 tax year, before such legislation would go into effect for 2022. Last thing any sitting president on either side wants is to pop the stonk bubble

>>25907479
That shit is just insane. Investments are essentially a type of gamble. Imagine you're playing roulette and every time you hit black, you lose it all, but when you hit red, rather than doubling you only get 50% of your winnings. And yeah, I know that's not quite how it works because of how tax brackets work, but still.

>>25907649
>>25906534

>>25906591
He did

>>25906464
LMFAO, nigger just loan your gains in DeFi as collateral and live on the interest.

You'll be paying a much lower tax-rate.

Wanting to take more than living expenses in fiat is utterly insane anyway. Printing will only continue at the current exponential rate. There is no plan to raise rates. All political will is behind implementing MMT, which is merely QE on steroids.

Prepare for Venezuela now.

>>25907441
It's only a rise in the top ltcg marginal rate that hits at $1m, and that's assuming it passes. The latter is how it is. Realistically the problem is capitalism, not whatever distraction account the government allows us to pretend like we'll be given our fair share

>>25908056
You know what holds wealth? Apartment buildings. And there's no way to buy 50-100 unit apartment buildings in crypto yet.

>>25908066
>It's only a rise in the top ltcg marginal rate that hits at $1m
I haven't seen clarity on whether the LTCG will affect the bracket in excess of $1MM or not. you have a link? here's to hoping it doesn't pass.

as for the latter, it's absolute bullshit. I could understand how a blanket system like that could simplify accounting, but 10 years? anyone passing a sizeable amount of qualified inheritance will be pissing it away to big gov, the thieves stealing the savings of your dead relatives to fund their bloated and corrupt bullshit. it's just there to force beneficiaries into higher tax brackets and fuck them out of generational savings. that's fucking bullshit.

That isn't a product of capitalism, it's the product of a corrupt government.

>>25906464
Well, you elected Biden because it will raise taxes to pay fo teh programs and social ghettos.
LA will get near 60% so get reckt.

>>25906570
Source? Biden has always said he wants to raise it to 40% not 47%

>>25907479
Move the central offices to FL

>>25906653
If you try to exit scam citizenship they rake you for everything they can get on your way out.

>>25908321
The link you posted says it's just increasing the top marginal ltcg gains rate to the same as the stcg, which "eliminates" it but its just a marginal rate increase.

What im saying is that Ira, Roth, blah blah are all just distractions designed to keep the little guy complacent, playing with shadows on the cave wall and thinking you're being smart and beating the system set up to keep you in line. Taxation pales in comparison to the amount of wealth stolen from us, in terms of goods and services we as the little guys actually produce, by the corporate ruling class (if you prefer - the (((corporate ruling class))) ). As long as boss makes a dollar, I make a dime, so to speak, we will never truly make it and will always be trapped in the playpen with whatever toys the government uses to placate us.

>>25908172
yes there is

>>25908528
I just can't believe they have the audacity to forcibly take away even more of the pocket change the average individual has had to claw away from the system in order to pass something on to their children. They have no shame. It's revolting to look at.

>>25908637
Yes, they (through the vehicle of the government which they have bought and use as a means of using power) do enjoy torturing their pet slaves. Maybe just to see how much we'll take and laugh at us.

>>25906651
>>25906675
I literally don't give a fuck about any of this and will spin it to my liking as long as it benefits my genetic lineage in the long run
What do ideologies or economic theories matter if they don't serve your people?
They're just abstractions of the near infinitely complicated real world which is the place you want to win,
not the abstract world of forms and memes which must be entertained by those whoever survive into the future and win

Does an emotion remain valid if it causes you nothing but harm and is not even fully representative of the real world, or is it then a delusion?

>>25907332
why don't y'all forget about us up here? we are all looking forward to america imploding and alaska neets sitting up here nice and cozy.

>>25908850
Ideologies are retarded. Like you.

>>25910597
No you, my friend, are retarded

>>25910726
Ideologies by default are Marxist tricks. They didn't exist before the so called enlightenment

>>25906464
>I just wanted to play video games
There’s your answer