Kamala Harris backs President Biden's 44.6% capital gains tax proposal, the highest in history.

Coldchi

Rising Star
BGOL Investor
Exactly..Thats why i don't play the lottery. If i fuck around a win 10mil i would probably have to give the govt half leaving me with only 5 mil...i'd rather just not play.
well the IRS gonna take 25% off rip............then if whatever state u live in has state taxes,........they are gonna take another 13%.
its kinda why i cash out on a lot of my stocks before they get to $5k in earnings. although i have to report it to the IRS, i dont have to pay any taxes on it since its under $5k. If i held on and started bringing in $20k an $30k in daytrades.....i'd have to pay capital gains tax on those earnings.
 

RoomService

Dinner is now being served.
BGOL Investor
its kinda why i cash out on a lot of my stocks before they get to $5k in earnings. although i have to report it to the IRS, i dont have to pay any taxes on it since its under $5k
I thought it was $5,000 total per calendar year?
 

Coldchi

Rising Star
BGOL Investor
I thought it was $5,000 total per calendar year?
it can be 0% you'd have to pay in taxes if its less than $40k made for that year if you're filing as single....
0% as well if you're filing jointly and its less than $80k
then between $40k and $445k if you're filing single and between $80k and $500k if your filing jointly.....the capital gains tax is around 15%
 

Lexx Diamond

Art Lover ❤️ Sex Addict®™
Staff member
How many of you know about this? I learned about this in my early 20's.

President Dwight David Eisenhower, perhaps the last real Republican, had a 90 percent tax rate for the super rich during his administration.

Eisenhower explained it this way: The super rich could avoid the high taxes by investing their money in things that make America stronger. If they wanted to avoid high taxes, he said they could invest in business expansions and higher employee wages. They could give a million or two to tax-exempt non-profits that feed, house and clothe poor people of America, among other things.

They did some of that, but the Eisenhower years generated enough taxes to launch and complete the labyrinth of interstate highways, the largest road project America had ever seen and is needed again.

President Trump said that the recent tax cuts would cause big business to generate more jobs. Federal sources said this week that the tax cuts didn’t bring about more employment. Businesses took the tax break money and squirreled it away or bought back their company’s stock. Greed won. America lost.

 

blackbull1970

The Black Bastard
Platinum Member
21703A-taxes-after-all-are-the-dues-that-we-pay-privileges-franklin-d-roosevelt.png
s-l1200.webp


 

RoomService

Dinner is now being served.
BGOL Investor
How many of you know about this? I learned about this in my early 20's.

President Dwight David Eisenhower, perhaps the last real Republican, had a 90 percent tax rate for the super rich during his administration.

Eisenhower explained it this way: The super rich could avoid the high taxes by investing their money in things that make America stronger. If they wanted to avoid high taxes, he said they could invest in business expansions and higher employee wages. They could give a million or two to tax-exempt non-profits that feed, house and clothe poor people of America, among other things.

They did some of that, but the Eisenhower years generated enough taxes to launch and complete the labyrinth of interstate highways, the largest road project America had ever seen and is needed again.

President Trump said that the recent tax cuts would cause big business to generate more jobs. Federal sources said this week that the tax cuts didn’t bring about more employment. Businesses took the tax break money and squirreled it away or bought back their company’s stock. Greed won. America lost.



These are the kind of posts that will debunk the trolls posting nonsense in this thread.
 

PsiBorg

We Think, so We'll Know
BGOL Investor
I got
I’m just playing off the thread title… Have you seen the crazy posts on this board lately?
I got you Bro... The days are strange here on BGOL.

I remember there was a time when you could have your own opinion without getting accosted. If you're MAGA, you get beat down. If you question the Democratic agenda, you'll get beat down.

I'm not sure if it's the political cycle or the chicken. But something is in the air, and it's up to no good. It could be the aluminum in the deodorant, I can't call it.
 

jawnswoop

It's A Philly Thing
BGOL Investor
Exactly..Thats why i don't play the lottery. If i fuck around a win 10mil i would probably have to give the govt half leaving me with only 5 mil...i'd rather just not play.
Either way you still got more money than you do now. So, that makes no sense.

I'll be glad with $5 million in the bank because I'm sure the majority in here don't even have that in their accounts.
 

mcguyver

Rising Star
OG Investor
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Watcher Guru is a leading source for cryptocurrency, Bitcoin, Ethereum, Blockchain, DeFi, and more. We are building a trusted and influential media platform for a worldwide community involved in rebuilding the current financial
 

slewdem100

Rising Star
OG Investor
Don't have an issue with it in theory but it is being pushed at a time when Israel is being given billions in aid for "help" to fight a group of people that Israel has completely dominated for decades so it does make wonder what are yall doing with the people's money

Dems always in the strange position of serving their corporate masters while having to pretend to be against them

But of course, the other side is so shitty that the double dealing Dems become the better option
 

dtownsfinest

Rising Star
BGOL Investor
Either way you still got more money than you do now. So, that makes no sense.

I'll be glad with $5 million in the bank because I'm sure the majority in here don't even have that in their accounts.
I ain’t never heard nothing more stupid from someone. He said he don’t play the lottery because because if he win 10 million he don’t want 5 lol……
 

DC_Dude

Rising Star
BGOL Investor
Either way you still got more money than you do now. So, that makes no sense.

I'll be glad with $5 million in the bank because I'm sure the majority in here don't even have that in their accounts.
Right. That’s a hell of a ROI no matter how you look at it. Flipping a $20 ticket into $5 million is a hell of a come up.
 

jawnswoop

It's A Philly Thing
BGOL Investor
Right. That’s a hell of a ROI no matter how you look at it. Flipping a $20 ticket into $5 million is a hell of a come up.
I'm talking about the full $5 million in your bank account. Like who doesn't want that, just be smart with the money, and you could easily triple it to $10 million or more as long as you spend it wisely and invest.
 

DC_Dude

Rising Star
BGOL Investor


Kamala Harris doesn’t support a tax on unrealized gains of you or anyone you know.

Some misinformation finance accounts are posting she is in favor of taxing unrealized cap gains.

This is the actual policy she supports : “Her proposed 25% tax on unrealized gains for centi-millionaires with nine-figure fortunes or more would be a watershed moment for U.S. tax policy.”

None of you are centi-millionaires. This affects the richest of the rich. I’ve gotten a few chuckles out of people this will never touch being so up in arms about it.

Always be suspicious of accounts that post claims without links to reputable news sources and look up the actual facts yourself.

Kamala Harris to unveil economic platform this week. Here’s what investors will be looking for.

 

jawnswoop

It's A Philly Thing
BGOL Investor


Kamala Harris doesn’t support a tax on unrealized gains of you or anyone you know.

Some misinformation finance accounts are posting she is in favor of taxing unrealized cap gains.

This is the actual policy she supports : “Her proposed 25% tax on unrealized gains for centi-millionaires with nine-figure fortunes or more would be a watershed moment for U.S. tax policy.”

None of you are centi-millionaires. This affects the richest of the rich. I’ve gotten a few chuckles out of people this will never touch being so up in arms about it.

Always be suspicious of accounts that post claims without links to reputable news sources and look up the actual facts yourself.

Kamala Harris to unveil economic platform this week. Here’s what investors will be looking for.


Thanks for this, so much misinformation on this board and the majority on these threads on BGOL hate Kamla for the dumbest reasons without any proof to support their claims.
 

^SpiderMan^

Mackin Arachnid
BGOL Investor
I detest the two party choices we have. Both have positions that I deeply disagree with. Taxes is one example. On one hand, Trump’s changes had the biggest negative impact on me. On the other hand, Dems seem way too concerned with pocket watching. They have an open hate of “the rich” and that hate overshadows recognizing the need to reduce government spending. You can’t just increase taxes forever. IMO we should have a flat tax rate with few exemptions and write offs. This way everyone will pay the same percentage and loopholes would be reduced. With a flat tax rate, “the rich” will pay more money in taxes than people that don’t make as much.
 

bbuzzard

Skeptic
BGOL Investor
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Watcher Guru is a leading source for cryptocurrency, Bitcoin, Ethereum, Blockchain, DeFi, and more. We are building a trusted and influential media platform for a worldwide community involved in rebuilding the current financial
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