Somebody explain the unrealized gains tax thing to me? The argument is those with their wealth tied up in assets like stock use the appreciated value as loan collateral, but it seems like a way to end up taxing middle class people who, for example, own a house which appreciated. Am I reading this right?
Somebody explain the unrealized gains tax thing to me...
Blake Campbell
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Levi Scott
Yes, you will be assessed an unrealized capital gains tax every year on the appreciation of your property. In reality your property is not appreciating, but rather the value of the USD is falling - they are simply confiscating your house.
Isaiah Gutierrez
At the very least it guarantees a December market dump every fucking year.
Jeremiah Scott
And the government is who assesses it.
Connor Robinson
>but it seems like a way to end up taxing middle class people who, for example, own a house which appreciated. Am I reading this right?
Yes. The government doesn't require our taxes, as they can just create more fiat whenever they want; we are taxed to keep us poor and powerless.
Nathaniel Jenkins
Theft
Austin Wood
Everytime the government announces that they would be taxing the rich, some how the middle class ends up getting fuck in the ass.
Ian Diaz
Its so when they inflate the currency they can tax you twice. Once by inflation, stealing your dollars, and then a second time on the paper gains you goods made.
John Stewart
Don't tell this guy about capital gains tax on his crypto.
Elijah Hernandez
Thrice Taxed, Inflation, renumeration for services, then on value of held property holding stronger than the inflated currency.
Kevin Morales
it's retarded shit that will never happen.
If you tax unrealised gains, you have to compensate people when they make an unrealised loss - otherwise, if your shares go up one year and down the next - you've paid tax on income while losing money.
Jose Ross
If you put $1000 in stocks, they go up and are now worth $1200, you've made $200. But those gains aren't realized (market can go down any instant). If you liquidate said assets and have $1200 now, you've actually made $200 for real. Obviously the former gains shouldn't be taxed in the same way as the latter (actual, realized) gains.
Jaxson Brooks
No reporting, no tax, you just have to send the exchange your W8-BEN stating your non-resident, non alien, National position you are in and there is no requirement for them to report you. If they do report you Correct the errors, the IRS system is automated nobody looks at the forms corrected w4 forms you send in they are scanned and replace the exchanges submitted w4 forms.
Levi Edwards
Why don't they just slap on a wealth tax and call it a day?
Nathan Gutierrez
> loan collateral
This is bullshit. Loans have to be repaid. Interest has to be paid on loans.
> own a house which appreciated
Nothing has appreciated. Nothing has changed. You just own a house. The house hasn't done anything at all.
It's fake. There is no gain until you sell.
Ian Collins
Yeah that ship sailed. Kyc from back in the day screws me. I suppose I could find another exchange but I don't think the risk is worth the grift.
Easton Lee
Exactly!
Landon Fisher
More bullshit. And I'm litterally pooping as I type this
Cameron Collins
Yes. They are trying to make it impossible for regular people to own property.
Charles Lee
Imagine thinking this can never happen while knowing what has already happened. So fucking naive. This is the NPC mindset.
Aiden Lewis
BURN the jews With fire. make sure it burns hot as hell. Really make them feel pain
Carson Cooper
>you have to compensate people when they make an unrealised loss
I do not believe they "have to".
Josiah Butler
Jewish schemes: the thread
Liam Gonzalez
>get taxed on unrealized gains
>need to realize gains to pay tax
>get taxed on realized gains
Camden Gutierrez
Dylan James
They say that those that do not make over 400k a year will be affected, but that is not liquid assets. If you make 100k a year and own a 700k home, you in essence have 800k some of that is taxable unrealized gain since you are over the 400k mark. It is total bullshit and the middle class is about to get fuuuuucked.
Zachary Wright
>Sir, you didn't pay taxes on those realized gains
>Can't tax me on something I haven't realized
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