/biz/ - Business & Finance

>>26289761
Bro, wtf does that even mean?

lul they're gonna tax you on that candy bar you just ate after you purchased it because it "went up in value"

>>26289839
civil war 2 electric boogaloo?
what a retarded idea

what about unrealized capital losses?
lmao, fuck every retard who votes his own slavery... BUT THE RICH!!!!111

>>26289761
It probably won't happen this time, but it's still your cue to gtfo asap.

>>26289761
time for the great minecraft war

>>26289761

I feel like this must be scare mongering, no one would be this stupid, right?

The stock market is literally the only way for the average person to get ahead, This would just massively widen the gap between rich and poor more than ever.

>>26289761
I have a really hard time seeing this getting passed even with Dems in full control. Regular taxes will go up though

>>26290051
that's the goal

>>26289976

>>26290051
>This would just massively widen the gap between rich and poor more than ever.

do you think the people in power are dumb? they know exactly what they are doing and the consequences of their actions

>>26289761
holy...

if Kamala is prez get ready for the Tea Party part 2 Electric Boogaloo

;)

>>26289839

Capital gains are theoretical increases in value you have in your assets. If you buy a stock for 10 dollars, and it goes up in value to 100 dollars, you have 90 dollars of capital gains. They are considered "realized" when you sell them, and then the government taxes you on that 90 dollars when you sell them (realize them) that way successful investors still pay some taxes and people that lose money actually save on taxes.

What they are proposing is taxing you on that 90 dollars even before you sell that stock. That means that your profits are constantly being assailed by taxes, and if the value of that stock drops down to 8 dollars (and therefore in the end you lost 2 dollars total) you still paid all of those taxes on your 2 dollar loss.

>>26289761
Wait, UNrealized?!
No way it will pass. Most politicians make money that way.

>>26289761
Hands off my crypto, kikes. You will never get my fucking stink links and I will never yield them too you. Hitler did nothing wrong.

>>26289839
It mean you have stock or cypto worth 150k DEC 31 and it goes to 100k JAN 1 you owe 24% or 40% if its over 400k, literally sell your crypto or stock to pay for taxes because market flux this is really really bad to even entertain this idea.

>>26290286
Realistically, what is the plan if that were to go through? Everyone become forced swingers or be taxed back into poverty where the rich want you to stay?

>>26289761
Imagine saying something so stupid and not losing the job. This should have ended her "interview".

>>26289933
yes it probably wont happen but Jesus fucking Christ if it did, I also though Joe Biden probably wont win, dems probably wont win the senate.

Hello communism

People will just have to realise their gains here and there as they probably already should to minimise their progressive tax rate

>>26290144
thanks just sold everything for ethereum

>>26290313
I dont understand how this works exactly but I guess you can pay taxes on the gains until they are nothing year after year get ready for a 40% loss on your 400k

>>26290406
Pretty sure it would end the crypto/stock market not sure how anyone can overcome the 40% a year gains tax, year after year I mean you could but it would severely fuck things

If you haven't already booked a flight ticket to Singapore RIGHT NOW with a stash of cash that you will feed a Bitcoin machine to transfer on to a freshly-created wallet you are not gonna make it

>>26290299
They wrote themselves an exception for insider trading and you don't think they would write in an exception for this? What are you retarded?

>>26289761
and why couldnt you put your crypto into a physical wallet/ledger so they dont have access to it? Would they still be able to track it via the blockchain? Does it depend on the exchange you use? Should I get my crypto the fuck off binance-us?

>>26290051
Thats the point. They want you poor and relying on daddy government. They want you owning nothing and being on UBI. All part of these fucking scumbag, nigger loving, pieces of fucking shit plan.

wonder how long before they start taxing csgo skins collections

>>26290687
That's year 2, right before the gulags.

Guys I seriously need help..I had no idea that your capital gains add on to your income, and whatever tax bracket you fit in is determined by the overall total for the tax year. What am I supposed to do? I thought the amount of capital gains tax I owe was based on my income?? Damn man...

>>26290628
They'll make wallet companies KYC. Just watch.

>>26290051
The end goal is slavery anon. These people literally want to enslave the world.

>>26290628
>Should I get my crypto the fuck off binance-us?
fucking obviously kek

>>26289761

>>26290628
See >>26290618
You need a way to purchase crypto from a non-KYC source and transfer to an isolated wallet. Whether this wallet is on a Ledger or your phone doesn't matter
>Would they still be able to track it via the blockchain?
Yes because the transaction ID from the regulated exchange to your wallet will have been recorded
>Does it depend on the exchange you use?
Every exchange in the US has KYC requirements
>Should I get my crypto the fuck off binance-us?
Yes, but keep in mind these transactions are traceable. You need to get your crypto from an obscure exchange that accepts cash. Or a Bitcoin machine in Singapore.

>>26290094
I-in roblox?

>>26289839
it means EVERYONE has to sell ALL of their stocks before tax deadline to realize gains

>>26290619
Oy goy don't talk about that!

>>26290687
>tfw they start taxing your minecraft diamonds

>>26290749

>>26290721
pay or get a swiss account and move there

>>26290144
HAHAHAHAHAHAHAHA HAHAHAHA
I AM LAURPHING OUT LOUD
MOMMY BOOM BOOM SAYS
YOU CANNOT PUT IT IN THE EFFERS
SHE DON KNOW SHE DON KNOW
HAHAHAHAHAHAHAHA HAHAHAHA
BYE BYE ME GO BUY EFFERS NOW HAHA

Bullish for monero.

>>26290797
I hope they start to tax 401k

>>26290999
They will. And we will get 0$ in SS

This would unironically kill the middle class. Hope we would see riots after this

>>26290721
use the Magic Circle firms if you have high 6 figures or 7figures

>>26289761
Are they going to tax my yugioh card collection bros?

>>26291306
if its up in value