That problem was caused by the right who keep cutting taxes for the Rich LOL! They are talking about Death Taxes after 10 Million, the other increase in Taxes is after 100 Million and NO increase on folks under 400K so screw you CNBC and and the rest of the Fox News wanna-bes.
Any wealth requires protection by the army and the police. So the more capital you have, the more you should pay. Besides collecting taxes from small taxpayers probably costs more in tax administration, and complicates life of small businesses, therefore slowing down the economy overall.
@@stopnd the top 1% pays over 60% of federal tax while the bottom 40% pays $0. So the "rich" does pay exponentially more for less benefits. How about we have everyone pay their "fair share"?
It's a terrible idea because you have to sell the assets which produced the unrealized capital gains to pay the taxes. They're going to find a way to make it apply to anyone with any amount of money, small or large. This is a deliberate act, fully knowing the damage it will cause.
@@KluverBucy Okay so then say something then? A lot of people have $1 million so you can all worry about it then and it might actually make some logical sense since that actually affects the retirement of people trying to live normal lives. This does not, in any way shape or form, affect the quality of life of literally anyone (except by helping pay for programs to help the working class)
Paying tax on UNREALIZED GAINS makes absolutely no sense! Who's coming up with these silly economic plans?! How the hell can you tax people on income they haven't actually made?!
@@fred-ts9pb and that is wrong. The government needs to learn how to not spend our money and make some cuts first. That is how we should do this. They tax the fuvk out of as it is. Signing up for more on any level is insane.
Still doesn’t make it constitutional. Look no further than the 16th Amendment - unrealized gains do not count as income and are not taxable by Congress.
$36 TRILLION DEFICIT.....CUT MILITARY SPENDING BY 50%, CUT FOREIGN AID BY 100%, NO MORE CORP AND INDIVIDUAL WELFARE! BRING BACK ALL OVERSEAS MILITARY. END ALL WARS! DUHHHHH!
@@shane0001good point, many will agree, but that’s not the subject at hand. Let’s discuss unrealized capital gains here, and we can discuss property on another forum.
@@shane0001property taxes are maybe 1-2% they’ll try to tax you 40% so if you’re looking to give away your money might as well start practicing and sending it to me 👍🏼 I have my bitcoin wallet address ready.
But then shouldn't you also not be able to borrow against those unrealized gains? Forgive my ignorance, but why does this matter to the anyone without a net worth of $100m+?
The income tax originally only applies to the “1% of the 1%,” but over the years they lowered the threshold, and inflation (money printing) brought everyone closer to those thresholds.
Yep, such things start high-minded and then normalize down to ordinary folk while the ultra-rich find ways to lobby out of such things being applied to them. Bad idea overall.
What they are not saying is that those 60,000 people hold large amounts of stocks and if Harris starts taxing their unrealized gains it would force many to invest outside the country and that would drain the stock market!
A LOT OF WEALTHY PEOPLE WILL DROP OUT ENTIRELY OF THE US MARKET & INVEST OVERSEAS AS THEY DID WHEN OBAMA WAS ELECTED. WE LOST 3 TRILLION TO OVERSEAS MARKETS UNDER OBAMA!!!! SAME WOULD HAPPEN UNDER HYENA HARRIS!!!!!!
Good thing that never ever actually plays out in the real world and is only a figment of Republicans’ imaginations then! The economy has been better by every economic measure under Democrats
@@flybirds2024 That’s what republicans have been saying about any taxing of the wealthy for decades and yet the economy flourishes under Dems and performs badly under Republicans by all measures
What about capital loss? I lost 100k on stock, but I can only deduct 3k, what about unrealized loss during stock crash? Will government cover the loss?
First this rule won’t apply to you because you’d don’t make $400k. Second you have far bigger problem if you are losing $100k in the stock market. Get out of the market and put your money in something else.
Stock market is greatest wealth creator in history. Nothing even comes close. You democrats are investing in property at all time highs thinking it will keep rising at the same rate of last 3 years are in for a rude awakening. Keep investing simple: mainly in the indexes like Spy and QQQ A few % towards fun stocks like NVDA, TSLA and take some off the table after a big run up
I'll explain 4 policies of hers I'm against as an Independent voter. 1) Abortion. She can't do anything about it. That was Supreme Court decision which is entirely separate from the Presidency. If Biden and her had the power to change that they would have already. That's just cheap talk with no substance. 2) 25k for first time home buyers. Where will this money come from? New taxes? cutting other programs? If so, which ones? We are 35 trillion in debt we don't have the funds for this. Not to mention 25k won't get you home anymore. It might if you live in rural Arkansas or West Virginia but any major city that isn't even a drop in the bucket for what you need. Where do most disadvantaged minorities live in this country? Major cities. Also, when you increase competition without increasing supply you will drive home prices even higher, which only benefits people who already have homes not those trying to get one. 3) Price gouging on groceries. There is a supply line for groceries. A farmer has to plant and harvest the food, then it gets trucked to packaging facility, then it gets trucked to a distribution center, then it gets trucked to the grocery store. What do all of those phases have in common? Diesel fuel needed for the tractors and for the trucks hauling them from place to place. Diesel fuel is 50 percent more expensive today than 4 years ago. Meaning all of those phases need to raise their prices to continue operating. You can't force the grocery store to sell at a loss. They would go out of business. Or they need to purchase less food. Which causes job layoffs the whole way back down the supply chain. That's not good. Also, less food for the same amount of demand means the price of food will actually go up. 4) Capital gains and Unrealized gains tax: 20 percent of households have $0 saved up for retirement. This number is increasing because less and less people under the age of 35 are actually saving for retirement. It's also estimated that around 60 percent that do have a retirement won't have enough saved to live off the rest of their life. Now you want to make it more difficult for people to save for retirement by taxing their portfolios more? The easy way to circumvent the assets over $100M would be to split things up and pass things down to kids or put them in a trust which most rich people have anyways. Then you don't technically own those assets. The trust owns those assets you are just an executor of the trust. This is why we needed a primary vote. So we could have seen these economic policies up front and someone would have had the ability to challenge them. Btw, before you get all "But Trump" on me. I'm an Independent voter so if you are going to reply to this please stick with building a case against the policies I listed above.
@@At_the_Gardenthat’s because of Covid lol. Before Covid he had a record economy. The left loves to cherry pick and drag trump’s economy because of Covid haha
Except it only applies to ppl with a net worth of over $100 million (currently 10,660 ppl in the US). Am I missing something? How is this going to affect the other 334,904,235 ppl?
@@mko0lpmko0lpif those investors have to pay on unrealized gains, they will be forced to pay taxes of hundreds of millions if not billions of dollars which the do not have on hand. Which will result in liquidation of some assets in order to pay those taxes. For one that is theft. But more importantly if several billionaires have to dump stocks to pay taxes, that will crash the market and crush the little guy in the process, people’s 401k would be devastated, people will lose large sums of money and sell in a panic, crashing the market further. This is how you create a 2nd Great Depression. This would be very bad.
I'm Debt free and loving it! *I managed to multiply my reserve funds to a decent $211,000 in less than a month,* I'm so grateful to you for this, Rosie I feel blessed
The manifestation of abundance is real, wealth is first generated from the mind... Today I celebrate a portfolio of $13,000 from a beginning of $2,000 thousand. Investing wisely has given me time for family and future plans
You are absolutely right, we also have lot's of expert, real ones with certificate and firms IDS out there waiting for investors to invest and experience the best of trade.
Making touch with financial advisors like *Rosie Nolan Owen* who can assist you restructure your portfolio, would be a very creative option. Personal financial management will be crucial to navigating the next difficult times.
Uh. If you are a teacher or bus driver you are not paying bunch of taxes. A matter of fact those people get kick backs. The majority of tax is paid from those making $200,000 and up. I do taxes and people under that do NOT pay a large amount of taxes. I wish we would quit lying to people. The majority of people in the USA do not pay federal taxes and if they do, it’s very small. To be fair would have everyone pay 10% no matter what. Instead we have a family of four making $150,000 and paying nothing in, getting a rebate of $3000. Then you have two people making $200,000 and paying $34,000 to the feds in taxes if they have standard deduction. But no one mentions the real issue. Politicians like to lie about taxes and don’t speak the truth.
Don’t forget Minnesota where Tim is governor add another $20,000 income tax to that 200k and then pay another 6,000 on your unrealized home inflated price.
@Nick94MI 10% of taxes is not a lot. I pay that in tithes. Just because others make more money, does not mean they should pay additional taxes. It does not work. It has not worked in other countries. It’s not the answer. The government overspending is the issue. Taxes are not going to fix the problem.
Yup exactly. They just want to trick the poor into thinking taxis this way is okay after they spent their entire lives saving to get taxed even more in the future.
@@blueharvest77 We will never need that given that the wealthy have almost all of the income and wealth, and that is increasing. We are taking the money from where it is pooling the most and putting it back into play. It wouldn’t make any sense to tax the people that they’re trying to give the benefits to
@@jessicam3707 The 'Wealthy' are the ones proposing this tax. They are getting richer than anytime in history by disassembling the US economy, importing freely and selling out the middle class. That's why the working people are getting poorer. Any benefits are an afterthought at best. They create spending that is directed to their allies, that then kick back to them through family investments. That's why the country is bankrupt.
@@coolman000099 "come on man" Graystar, MAA, Avalon ect. Some Corporation have ~100,000 units. What about Hotels, resorts? You next vacation destination may be subject to the tax.. Get ready, I guarantee everything you touch will cost more. This year it's 100 million. in five, it will be 1 million.
We have 97 taxes in this country think about that for a moment. Social security has risen 400 percent since 1964. We have been told that Social security is going broke. So our politicians have proven they are incapable of providing affordable services for Americans and their only solutions are to continue to raise taxes and blame their fellow Americans. 97 possible taxes that you might have to pay as a working American means regardless of whatever gross wages you are making those taxes are reducing you net take home pay. Their solution to tax only the wealthy Americans results with those Americans moving abroad and future products like Facebook, Amazon, Google, Microsoft, Telsa and Starlink are developed in other countries other than the USA.
This guy has never ran a business or even worked for one. These people are hoping voters are stupid and don't realize that the people Democrats love to tax are the people that create jobs and wealth in America for Americans.
The analogy to home property tax isn't good for the reasons Becky and Joe laid out, but also because a home won't "go to 0" the way a stock can. If a home goes to 0, it's been destroyed by fire or other disaster, in which case insurance is involved to make the owner whole. Even then, the land it's on will not be worth 0. A company can go bankrupt due to any number of reasons, resulting in 0 value for the equity. A shareholder paying capital gains tax on unrealized gains that theoretically can evaporate at any moment, is absurdly unfair.
Your wish is granted. Eduction is reduced to $0 tax dollars. Generations of dumb children grow to become parents of even dumber children. Civil war erupts over a tik-tok trend and the world is destroyed by nukes. GAME OVER
@lightgatha Medicare wouldn't be so expensive if people were healthier. Revise the food pyramid. Get rid of sugar and use stevia/monk fruit. It's stunning how many Americans are fat and unhealthy. Start a long term program to replace the crap in the grocery stores with options that are healthier but still taste good. This will save Medicare enormous amounts of money.
I always keep an arms distance way from people that pontificate on how our country is doomed and how there is no turning back, but if they are able to push something like this through, then this country is done; don’t think for a second that they would stop here.
"We have so much revenue, we can afford to send $175 billion to foreign countries every year." --- Democrats "We're so broke, we must raise your taxes to pay for things like social security and medicare." --- Also Democrats
Stock market and your 401k would be down 30% in a year if they taxed unrealized gains. Majority of the market is owned by those 60k individuals if they have to sell it’s going to crash everything even home prices.
@@jimako6 No such thing as taxing the rich, where do you think the rich get that 💰 from, if you own a building & your taxes go up, do you raise the rents or sell assets, dip into savings account, what would you do❓🤔 be honest now
Even if it only applied to 60k people, it opens the flood gates for future adjustments to affect more citizens. It always starts with a small % and gets worse from there.
@Baggins341 There is only 2 ways to reduce, debt and deficit. Cut spending or raise taxes. Spending can't be cut in a meaningful way, because most of the spending ins on the untouchables: social security, healthcare and defense. In the last little while most of the tax cuts has gone to the riches of the rich, which means everyone else has had to carry a heavier burden. I'm all for cutting spending and tax cuts for all, but that isn't realistic.
yea exactly.... people think its okay because its not happening to them, for now... but they will just add to it and eventually all those idiots who supported this will be crying because now they have to pay tax on unrealized gains on their house that grew in value, Such a crazy idiotic idea, and even more idiotic is the people who think this is a good idea
1) They said the same EXACT thing when they first passed the first tiered income tax in 1913 saying it would only effect the ultra rich. Now look where we are at. 2) You could CONFISCATE the actual wealth of the richest in the US and it would not keep the federal government funded for a single year, and this does not take into account state and local spending. In contrast back from 1895 up to the great depression.. JP Morgan alone was able to bail out the federal government. Growth of government and its addiction to spending is at least 50% of the problem...if not more. 3) The wealthiest people in the US ...DO NOT have to stay in the US. They are not like the average americans they can have their residency, wealth, assets, business ventures...anywhere on earth and they will be welcome in those other countries with open arms. Want the wealthiest 9000 people in the US to leave and take it all with them? Harris will make it happen.
An unrealized capital gains tax on the ultra rich would hurt EVERYBODY. Anybody who owns any assets (housing, stocks, cryptocurrency, gold, silver, commodities, etc. It would force the ultra rich to sell which would cascade down and cause asset prices to fall drastically. Do you want your house and your 401k value to get cut in half and never grow back again?
@@shane0001 Lol, truth. These people aren't postponing anything. They have more wealth and money than they or their next few generations of children will need. I don't know why we are crying on behalf of them. Most of us here will never sniff a fraction of $100MM in total assets.
I am a selfish guy. I want the best for myself and my family. My future and my kids future will be good only when people who create value have the capital. This is the reason I left the country where I was born for USA.
You can't credit the losses once everyone's stocks goes to zero. There's not enough money in the world, and if you print the money to cover the bill, you'll get a sense of what our South American neighbors in Venezuela feel like, or the German's after World War I. Massive stock market losses, massive inflation, and no capital available to rescue anyone. And if it's the USA that goes through this process, vs a small South American country, or a European country over 100 years ago, the whole world will suffer.
Unrealized gains means stock from big companies who will have to sell their stock, therefore crashing its price, to pay tax on money they never received.
IMHO how can we really expect anything different than the past 3 years under camel-uh’s watch ? How are businesses supposed to grow and innovate if you tax all their profits away? All you’re going to do is make everything more expensive.
The whole idea behind the tax on unrealized gains above 100 million along with some of the other ideas is to prevent the snowballing of assets. When you start getting to extreme wealth your ability to buy entire towns exists. Think out 50 years. They buy all the homes, all the gold, all the stocks. If they aren't kept in check You will have an aristocracy
As per the other comments, you really dont understand how this stuff works. The scenario you invoke already triggers capital gains tax under the current system.
What this is really about is reimbursement of 25% tax for the super-rich investment corporations because they will allow their losses to be reimbursed and they expect big losses. Don't fall for it
The people being taxed, are the people supplying you things. They will increase their prices to compensate, therefore you will pay more. So yes you will be affected
Are any of you worryworts worth over $100m? If so, stop complaining - is your property assessed and taxed annually? Does your hedge fund charge you 2% whether you profit or not? Does your financial advisor charge anything before you make anything? Is your attorney free if you lose?
Who's gonna feed those puppies when we're all broke? We're gonna being EATING puppies when the inflation comes and the grocery store shelves are empty.
Here's the plan - 'we get our foot in the door... then we get our leg in the door... then we get ourselves halfway in the door... then we bust the damned door wide open...'; first we tell them it only applies to those with $100M in investments... then it only applies to those with $1M or more in investments... the it will only apply to those with $100k or more in investments... then it will only apply to those with $1k or more in investments... yeah, yeah, that's what we'll tell em, and that's what we'll really do once we get our foot in the door, and it starts to become "normalized"... That's how it always is with anything the Government does, and especially anything the Government does that's started by the Democrats (Communists by any other name). You have no rights, except the rights that the Government says you are allowed to have, according to the Democrats. You have no income, except what the Government says you are allowed to keep, according to the Democrats. You have no rights to your property, except what the Government says you're allowed to have, and they'll take you to court and take away your property if you don't follow their 'regulations' or you don't pay the taxes they say "you owe". Additionally, as Maxine Waters said right out loud, and Pelosi agreed with her "The Constitutions says whatever we say it says", since they have no idea what it says, and for the odd Democrat who's trained in law, to use it like a weapon, (Goldman, Raskin, etc), the Constitution is twisted like a pretzel in an effort to make it mean whatever they want to make it mean. ...and as far as Kamala Harris goes, she just went full Communist with this idea of "taxing unrealized gains", along with her Government "price fixing" scheme with the government monitoring the price of every item sold anywhere in the country and dictating it's price, along with her claim that "price gouging" is to blame for the high cost of groceries in an industry where the profit margins are only 1-2% to begin with, as well as her idea of just giving every first-time home buyer $25k that the rest of us are expected to pay for for their down payment on their home... oh, yeah, and lets not forget her idea that healthcare is a "right" granted by the Government that she has pledged to give to every illegal alien, along with "decriminalizing" all illegal entry into our country...
So - IF this is only for the ultra-wealthy "1/2 of 1%" like he says, how will the tax on capital gains be figured BEFORE the asset is sold? What happens if someone (and I believe this is an inch-by-inch policy, meaning it will trickle to the rest of us) pays this so-called capital gains tax and then everything goes to pot or there is a depression, will they have overpaid and get money back? Common sense isn't a factor to this KH policy.
Yeah, it was called Covid that the Democrats unleashed. The spending problem is from Biden-Harris. Funneling tax payer money through Ukraine, student loans being canceled, feeding and housing the 20+ million illegals
@@shane0001 The military toughly needs a financial audit. yea its a pricey business, but i've seen them waste so much money on silly pointless things with the mantra "spend it now at the end of this FY or we won't get as much money next year". Then next year rolls around and they have even more money, so they rinse and repeat. Each year the same offices get thousands of dollars worth of brand new desks, chairs, monitors, ect. The tacti-cool guys spend thousands of dollars on aftermarket gear because its "cool". Bases spend thousands/millions on beautification projects. There's so much abuse of tax dollars that exist its embarrassing. That's the money we pay in taxes. I support everything the military does but their financial spending habits are not always in the best interest of tax payers or saving.
I'm not for this at all. Taxing unrealized gains is incredibly stupid, but it's not socialism. The right has been throwing around the words socialism and woke to describe almost any leftist agenda that the words have lost all their power. Anyways, if someoner writes this bill, it's dead in the water from moment one. This is all an election time talking point.
We have socialism for the wealthy and hard-core capitalism for the poor. The wealthy get all the government tax breaks. The poor get a minimum wage that never changes and low wages. It is called trickledown economics because the poor only get a trickle.
If the taxes on unrealized capital gains only affects a very small number of folks, how much revenue will it really generate. And do t kid a kidder. If you introduce this concept of taxing unrealized gain, what keeps you from applying it to lower income individuals. The concept alone is vile. Unrealized gain is NOT freaking income. Quit spending!!! And perhaps high income individuals get taxed at a lower rate, but they PAY MORE TAXES!!! Forty one percent of all workers pay NO taxes at all. The top 1% of earners already pay 40% of all income tax. Producers are financing this chickenshit operation already.
We don't have a revenue problem, we have a spending problem... Stop looking to grab money from people who built their wealth and taxing their unrealized gains. Learn to cut Govt. cost.. Also, stop giving money to other countries and help your own citizens. And if you absolutely have to tax unrealized gains, then do it to people (over $100M), who borrow money against their stock to avoid earned income tax and capital gains tax.
3:27 "In that time period, out of the 51 million jobs created in that time period, 50 million came under democratic presidencies." May someone please fact-check this CS thats insanely poor journalism to not question him on that
The facts are accurate (rounding to the nearest million, GOP is at ~1.3M so round down to 1M). You are free to disagree on the correlation between Dem President versus stock market gains or job growth, but the numbers themselves are accurate.
You are discounting the fact that when you deploy capital to invest there is a risk associated with that. Guess what's going to happen when the risk/reward just doesn't make sense anymore? People will stop investing and capital investments will be greatly reduced .
This will devastate agriculture. Often farmers are "land rich" but cash poor. What are going to eat when all the farmers walk away? The bugs and rats you catch?
$36 TRILLION DEFICIT.....CUT MILITARY SPENDING BY 50%, CUT FOREIGN AID BY 100%, NO MORE CORP AND INDIVIDUAL WELFARE! BRING BACK ALL OVERSEAS MILITARY. END ALL WARS! DUHHHHH!
Spreading the unrealized capital gains tax out for a few years. It doesn't work. Then, next year that same tax comes around again. You haven't finished paying the first year, and the second year is here. You can't sustain this tax.
It makes perfect sense to a communist who is selling lies to plebs who don't understand anything about finances. They don't care. They won't even dare to do it - they're just making up stupid horrible proposals to appeal to the voters with the least amount of financial education.
"We have a revenue problem" no YOU have a spending problem
Then why do Dems reduce the deficit and Republicans increase it every time?
That problem was caused by the right who keep cutting taxes for the Rich LOL! They are talking about Death Taxes after 10 Million, the other increase in Taxes is after 100 Million and NO increase on folks under 400K so screw you CNBC and and the rest of the Fox News wanna-bes.
Exactly.
The income tax was originally only for the ultra-wealthy, but here we are.
Thank go I only make $50 mil a year, so I'm not ultra wealthy
Any wealth requires protection by the army and the police. So the more capital you have, the more you should pay. Besides collecting taxes from small taxpayers probably costs more in tax administration, and complicates life of small businesses, therefore slowing down the economy overall.
@@stopnd the top 1% pays over 60% of federal tax while the bottom 40% pays $0. So the "rich" does pay exponentially more for less benefits. How about we have everyone pay their "fair share"?
Same with the alternative minimum tax. Initially applied to
I just said that 😂
It's a terrible idea because you have to sell the assets which produced the unrealized capital gains to pay the taxes. They're going to find a way to make it apply to anyone with any amount of money, small or large. This is a deliberate act, fully knowing the damage it will cause.
You could imagine a political battle to get to decide who values what.
Your right every one will pay.
You won't have to, because you're not rich.
Today, it's 100 million. Later, it will be 1 million.
So then stay poor and you won't have to worry
@@shane0001 by that logic why even live? dead have no worries.
Then 50,000, 30,000, 20,000
@@KluverBucy Okay so then say something then? A lot of people have $1 million so you can all worry about it then and it might actually make some logical sense since that actually affects the retirement of people trying to live normal lives. This does not, in any way shape or form, affect the quality of life of literally anyone (except by helping pay for programs to help the working class)
Exactly. Because Democrats have only one solution to financial problems: Increase taxes. They don't know how to cut spending.
they said the same thing in early 1900s when income tax was only for millionaires. Then is slowly became something everyone had to pay
@@chatgpt-n8r Theoretically, if you eliminate all corporate incentives, we will not need income taxes 🤷♂️
Income taxes should only be for millionaires. Duh!
@@GeorgeSchneider8889 Explain the logic behind that.
@@GeorgeSchneider8889are you stupid?
Same with SS. They all lie, but we still vote for the lesser of two evils in our own minds,.
Paying tax on UNREALIZED GAINS makes absolutely no sense! Who's coming up with these silly economic plans?! How the hell can you tax people on income they haven't actually made?!
Property taxes do the same.
Democrat Communists
Did you listen to the full interview, buddy?
Hedge funds charge 2 & 20. That make sense?
@@fred-ts9pb and that is wrong. The government needs to learn how to not spend our money and make some cuts first. That is how we should do this. They tax the fuvk out of as it is. Signing up for more on any level is insane.
Still doesn’t make it constitutional. Look no further than the 16th Amendment - unrealized gains do not count as income and are not taxable by Congress.
No, as long as they are evenly distributed, perfectly legal. Although unfeasible.
@@amybethhurstas unfeasible as the current income tax web, annual property tax assessments, management fees from every financial manager everywhere?
Since when do dems care about the constitution?
Doomed charlatan will be a doomed experiment
Supreme court already ruled unrealized gains tax is illegal.
We don't have a Tax Revenue problem. We have a Spending Problem. Please get the facts correct.
100Billion+ to Ukraine, 100B+ to illegals, 200M sent to the Taliban in cash, etc
$36 TRILLION DEFICIT.....CUT MILITARY SPENDING BY 50%, CUT FOREIGN AID BY 100%, NO MORE CORP AND INDIVIDUAL WELFARE! BRING BACK ALL OVERSEAS MILITARY. END ALL WARS! DUHHHHH!
160 million a month to the taliban @@Xyz99899
TAXING " We the people " MORE to give away to foreign countries and ILLEGAL CRIMINAL INVADERS?? NOT on our watch in 2024!!❤
They told us that only people who earned $400,000 would see their taxes go up. That was a joke because inflation is a tax on everyone.
Unrealized capital gains are not income and should not be subject to taxation. This is a slippery slope that should not be tested.
You also advocating we should refuse to pay property taxes as assessed every year?
@@shane0001 no.
@@shane0001good point, many will agree, but that’s not the subject at hand. Let’s discuss unrealized capital gains here, and we can discuss property on another forum.
@@shane0001property taxes are maybe 1-2% they’ll try to tax you 40% so if you’re looking to give away your money might as well start practicing and sending it to me 👍🏼 I have my bitcoin wallet address ready.
But then shouldn't you also not be able to borrow against those unrealized gains? Forgive my ignorance, but why does this matter to the anyone without a net worth of $100m+?
The income tax originally only applies to the “1% of the 1%,” but over the years they lowered the threshold, and inflation (money printing) brought everyone closer to those thresholds.
Yep, such things start high-minded and then normalize down to ordinary folk while the ultra-rich find ways to lobby out of such things being applied to them. Bad idea overall.
What’s it’s signed it too late that’s the point.
What they are not saying is that those 60,000 people hold large amounts of stocks and if Harris starts taxing their unrealized gains it would force many to invest outside the country and that would drain the stock market!
A LOT OF WEALTHY PEOPLE WILL DROP OUT ENTIRELY OF THE US MARKET & INVEST OVERSEAS AS THEY DID WHEN OBAMA WAS ELECTED. WE LOST 3 TRILLION TO OVERSEAS MARKETS UNDER OBAMA!!!! SAME WOULD HAPPEN UNDER HYENA HARRIS!!!!!!
It's worse, it would force them to DUMP their portfolio on the stock market just to pay for the taxes.
@@TheHzh82lol everything would be moved from the country we would lose trillions
Good thing that never ever actually plays out in the real world and is only a figment of Republicans’ imaginations then! The economy has been better by every economic measure under Democrats
@@flybirds2024 That’s what republicans have been saying about any taxing of the wealthy for decades and yet the economy flourishes under Dems and performs badly under Republicans by all measures
How about cut most of the federal government departments by 75%. Then the budget savings needs to pay off the debt.
Yes. Let's so what average people do. Adjust our spending down to match our income.
What about capital loss? I lost 100k on stock, but I can only deduct 3k, what about unrealized loss during stock crash? Will government cover the loss?
You should probably worry about why you're losing all your money in the stock market, instead. Einstein.
@@aheroictaxidriver3180libtard detected
First this rule won’t apply to you because you’d don’t make $400k. Second you have far bigger problem if you are losing $100k in the stock market. Get out of the market and put your money in something else.
Stock market is greatest wealth creator in history.
Nothing even comes close.
You democrats are investing in property at all time highs thinking it will keep rising at the same rate of last 3 years are in for a rude awakening.
Keep investing simple: mainly in the indexes like Spy and QQQ
A few % towards fun stocks like NVDA, TSLA
and take some off the table after a big run up
@@Mr.Eeeeeeeeewhat a stupid comment. People will lose money in the stock market at some point.
I'll explain 4 policies of hers I'm against as an Independent voter.
1) Abortion. She can't do anything about it. That was Supreme Court decision which is entirely separate from the Presidency. If Biden and her had the power to change that they would have already. That's just cheap talk with no substance.
2) 25k for first time home buyers. Where will this money come from? New taxes? cutting other programs? If so, which ones? We are 35 trillion in debt we don't have the funds for this. Not to mention 25k won't get you home anymore. It might if you live in rural Arkansas or West Virginia but any major city that isn't even a drop in the bucket for what you need. Where do most disadvantaged minorities live in this country? Major cities. Also, when you increase competition without increasing supply you will drive home prices even higher, which only benefits people who already have homes not those trying to get one.
3) Price gouging on groceries. There is a supply line for groceries. A farmer has to plant and harvest the food, then it gets trucked to packaging facility, then it gets trucked to a distribution center, then it gets trucked to the grocery store. What do all of those phases have in common? Diesel fuel needed for the tractors and for the trucks hauling them from place to place. Diesel fuel is 50 percent more expensive today than 4 years ago. Meaning all of those phases need to raise their prices to continue operating. You can't force the grocery store to sell at a loss. They would go out of business. Or they need to purchase less food. Which causes job layoffs the whole way back down the supply chain. That's not good. Also, less food for the same amount of demand means the price of food will actually go up.
4) Capital gains and Unrealized gains tax: 20 percent of households have $0 saved up for retirement. This number is increasing because less and less people under the age of 35 are actually saving for retirement. It's also estimated that around 60 percent that do have a retirement won't have enough saved to live off the rest of their life. Now you want to make it more difficult for people to save for retirement by taxing their portfolios more? The easy way to circumvent the assets over $100M would be to split things up and pass things down to kids or put them in a trust which most rich people have anyways. Then you don't technically own those assets. The trust owns those assets you are just an executor of the trust.
This is why we needed a primary vote. So we could have seen these economic policies up front and someone would have had the ability to challenge them. Btw, before you get all "But Trump" on me. I'm an Independent voter so if you are going to reply to this please stick with building a case against the policies I listed above.
You are clearly an educated voter so all the "joy and feelings" voters will stay far away from commenting. 😊
Can you please debate this idiot in place of Trump. Cannot believe the Republicans are going to throw rhis😢😢😢😢😢😢
You are so exactly right. Sad more people are more concerned with "she's not Trump" than the real issues.
You go on believing that it'll be only on those with $100M and up. It'll be down to the middle class in a few years.
When it hurts the investors in the stock market it hurts anybody with an IRA or a 401K.
Trump should just campaign heavily on tax cuts and compare it to what Harris proposes.
@JamesCalabrese930 True but for some reason people believe the opposite.
@@At_the_Gardenthat’s because of Covid lol. Before Covid he had a record economy. The left loves to cherry pick and drag trump’s economy because of Covid haha
@JamesCalabrese930 Not until Covid, which was not his fault.
A tax on unrealized capital gains will devastate the country. Impacts everyone, rich and poor.
Democrats don’t care
Except it only applies to ppl with a net worth of over $100 million (currently 10,660 ppl in the US). Am I missing something? How is this going to affect the other 334,904,235 ppl?
@@mko0lpmko0lp They will amend it to include the middle class. The 100 million dollar requirement is bait and switch
@@mko0lpmko0lpif those investors have to pay on unrealized gains, they will be forced to pay taxes of hundreds of millions if not billions of dollars which the do not have on hand. Which will result in liquidation of some assets in order to pay those taxes. For one that is theft. But more importantly if several billionaires have to dump stocks to pay taxes, that will crash the market and crush the little guy in the process, people’s 401k would be devastated, people will lose large sums of money and sell in a panic, crashing the market further. This is how you create a 2nd Great Depression. This would be very bad.
Taxing the rich who are already way too rich has never once hurt the economy and has only been good for it. Every time.
I'm Debt free and loving it! *I managed to multiply my reserve funds to a decent $211,000 in less than a month,* I'm so grateful to you for this, Rosie I feel blessed
The manifestation of abundance is real, wealth is first generated from the mind... Today I celebrate a portfolio of $13,000 from a beginning of $2,000 thousand. Investing wisely has given me time for family and future plans
You are absolutely right, we also have lot's of expert, real ones with certificate and firms IDS out there waiting for investors to invest and experience the best of trade.
*Huge thanks to Rosie Nolan Owen, my inves tment coach, who guided me to achieve this success!*
Making touch with financial advisors like *Rosie Nolan Owen* who can assist you restructure your portfolio, would be a very creative option. Personal financial management will be crucial to navigating the next difficult times.
Investing a in crypto/forex is a good idea, a good trading system would put you through many days of success.
Uh. If you are a teacher or bus driver you are not paying bunch of taxes. A matter of fact those people get kick backs. The majority of tax is paid from those making $200,000 and up. I do taxes and people under that do NOT pay a large amount of taxes. I wish we would quit lying to people. The majority of people in the USA do not pay federal taxes and if they do, it’s very small. To be fair would have everyone pay 10% no matter what. Instead we have a family of four making $150,000 and paying nothing in, getting a rebate of $3000. Then you have two people making $200,000 and paying $34,000 to the feds in taxes if they have standard deduction. But no one mentions the real issue. Politicians like to lie about taxes and don’t speak the truth.
???????
Truth
Don’t forget Minnesota where Tim is governor add another $20,000 income tax to that 200k and then pay another 6,000 on your unrealized home inflated price.
@Nick94MI 10% of taxes is not a lot. I pay that in tithes. Just because others make more money, does not mean they should pay additional taxes. It does not work. It has not worked in other countries. It’s not the answer. The government overspending is the issue. Taxes are not going to fix the problem.
This guy should lead the way. He should be taxed on all of his unrealized gains first and see how it goes for him.
That's how it will start. By the time I'm ready to retire it will 40k and up.
Yup exactly. They just want to trick the poor into thinking taxis this way is okay after they spent their entire lives saving to get taxed even more in the future.
@@blueharvest77 We will never need that given that the wealthy have almost all of the income and wealth, and that is increasing. We are taking the money from where it is pooling the most and putting it back into play. It wouldn’t make any sense to tax the people that they’re trying to give the benefits to
@@jessicam3707 The 'Wealthy' are the ones proposing this tax. They are getting richer than anytime in history by disassembling the US economy, importing freely and selling out the middle class. That's why the working people are getting poorer. Any benefits are an afterthought at best. They create spending that is directed to their allies, that then kick back to them through family investments. That's why the country is bankrupt.
Heres one for you, STOP GIVING OUR MONEY AWAY. TALK AND SPIN ALL YOU WANT. STOP GIVING OUR MONEY AWAY
Taxing unrealized gains is also UNCONSTITUTIONAL. They first have to amend it before they can do it or it’ll get struck down by the SCOTUS.
take note renters,,,, If your landlord has to pay unrealized tax on the property,, you can bet on your rent going up.
@@kimbuck-2what about they rise Corporate tax to 28%? Will you still get a bonus and pay rise?
@@kimbuck-2
The new LL will be subject to it as well.
What landlord net worth is 100M and 80% of it the stock market 🤣🤣?
@@coolman000099 "come on man"
Graystar, MAA, Avalon ect. Some Corporation have ~100,000 units.
What about Hotels, resorts? You next vacation destination may be subject to the tax.. Get ready, I guarantee everything you touch will cost more.
This year it's 100 million. in five, it will be 1 million.
We have 97 taxes in this country think about that for a moment. Social security has risen 400 percent since 1964. We have been told that Social security is going broke. So our politicians have proven they are incapable of providing affordable services for Americans and their only solutions are to continue to raise taxes and blame their fellow Americans. 97 possible taxes that you might have to pay as a working American means regardless of whatever gross wages you are making those taxes are reducing you net take home pay. Their solution to tax only the wealthy Americans results with those Americans moving abroad and future products like Facebook, Amazon, Google, Microsoft, Telsa and Starlink are developed in other countries other than the USA.
This guy has never ran a business or even worked for one. These people are hoping voters are stupid and don't realize that the people Democrats love to tax are the people that create jobs and wealth in America for Americans.
Oh please quit the corporate boot licking 😹
The analogy to home property tax isn't good for the reasons Becky and Joe laid out, but also because a home won't "go to 0" the way a stock can. If a home goes to 0, it's been destroyed by fire or other disaster, in which case insurance is involved to make the owner whole. Even then, the land it's on will not be worth 0. A company can go bankrupt due to any number of reasons, resulting in 0 value for the equity. A shareholder paying capital gains tax on unrealized gains that theoretically can evaporate at any moment, is absurdly unfair.
This is an absurd! Easy to resolve: vote for Trump!!
Yes, keep the FED GOV $4 TRILLION ANNUAL BUDGET (not including DoD, State Gova, etc), and steal more money from the citizens. This is a vile situation
“The problem with socialism is that you eventually run out of other people’s money.” - Margaret Thatcher
"fiscally responsible" is getting the government to STOP spending so much money!!!
It starts out at 100M of unrealized gain but she will slowly decrease it over the years where it will end up hurting so many people
lol. We all have a LONNNNNGGG way to go down from $100M. Cmon, be serious.
More like inflation will make common assets be worth 100M in a decade
You're delusional if you think it isn't a slippery slope @@chadbailey7038
Objection, speculation! 😃 (to the main poster)
@@chadbailey7038 Love the American dream where we all think we will have $100M in unrelaized gains or anything near that.
Has anyone asked the question, when is enough for the government?
Oh please!
This is one of the worst tax propositions ever…
Stop blabbering talking points..
I have a better idea. Cut spending.
@@chrishardin7183 President Andrew Jackson paid off our national debt. Did it lead to economic growth or prosperity? No, it led to a severe recession.
Your wish is granted. Eduction is reduced to $0 tax dollars. Generations of dumb children grow to become parents of even dumber children. Civil war erupts over a tik-tok trend and the world is destroyed by nukes. GAME OVER
@@lightgathaDept of Education maybe? Since the citizenry will be stupid and sick, might as well cut all the military spending too
@lightgatha Medicare wouldn't be so expensive if people were healthier. Revise the food pyramid. Get rid of sugar and use stevia/monk fruit. It's stunning how many Americans are fat and unhealthy. Start a long term program to replace the crap in the grocery stores with options that are healthier but still taste good. This will save Medicare enormous amounts of money.
Exactly. Our country doesn't have a under taxing problem, it has a spending problem!
I always keep an arms distance way from people that pontificate on how our country is doomed and how there is no turning back, but if they are able to push something like this through, then this country is done; don’t think for a second that they would stop here.
"We have so much revenue, we can afford to send $175 billion to foreign countries every year."
--- Democrats
"We're so broke, we must raise your taxes to pay for things like social security and medicare."
--- Also Democrats
Exactly! We’re taking financial advice from an administration that forked over 6 billion dollars to Iran.
Lol ridiculous to open the door on taxing unrealized gains. They will waste the $$$ and then keep proposing to dropping the bracket.
That is what happen when income tax was introduced. Fed gov should not be trusted with more money, it's just more for them to waste.
When Buffett says taxes are going higher, believe the man. Taxes are going higher to support government spending
The war machine is hungry, and Israel won't allow cuts.
Stock market and your 401k would be down 30% in a year if they taxed unrealized gains. Majority of the market is owned by those 60k individuals if they have to sell it’s going to crash everything even home prices.
@@TwistIsFlyI Agree but in my humble opinion it would be much higher than 30%, because of the tax implications
For the rich
@@jimako6 No such thing as taxing the rich, where do you think the rich get that 💰 from, if you own a building & your taxes go up, do you raise the rents or sell assets, dip into savings account, what would you do❓🤔 be honest now
Even if it only applied to 60k people, it opens the flood gates for future adjustments to affect more citizens. It always starts with a small % and gets worse from there.
@Baggins341 There is only 2 ways to reduce, debt and deficit. Cut spending or raise taxes. Spending can't be cut in a meaningful way, because most of the spending ins on the untouchables: social security, healthcare and defense. In the last little while most of the tax cuts has gone to the riches of the rich, which means everyone else has had to carry a heavier burden. I'm all for cutting spending and tax cuts for all, but that isn't realistic.
Yep. And if it's only 60k people, then why do it?
yea exactly.... people think its okay because its not happening to them, for now... but they will just add to it and eventually all those idiots who supported this will be crying because now they have to pay tax on unrealized gains on their house that grew in value, Such a crazy idiotic idea, and even more idiotic is the people who think this is a good idea
100 % Right
So apply your logic to $billions in tax CUTS. For 60k people. Still make sense?
Can't tax your way out of over spending , doof !
This is not about rich vs poor. This is about freedom vs economic surfdom , aka communism!
1) They said the same EXACT thing when they first passed the first tiered income tax in 1913 saying it would only effect the ultra rich. Now look where we are at.
2) You could CONFISCATE the actual wealth of the richest in the US and it would not keep the federal government funded for a single year, and this does not take into account state and local spending. In contrast back from 1895 up to the great depression.. JP Morgan alone was able to bail out the federal government. Growth of government and its addiction to spending is at least 50% of the problem...if not more.
3) The wealthiest people in the US ...DO NOT have to stay in the US. They are not like the average americans they can have their residency, wealth, assets, business ventures...anywhere on earth and they will be welcome in those other countries with open arms. Want the wealthiest 9000 people in the US to leave and take it all with them? Harris will make it happen.
I've got a frigging idea...how about CUTTING SPENDING instead of taxing the fooook out of working people?
An unrealized capital gains tax on the ultra rich would hurt EVERYBODY. Anybody who owns any assets (housing, stocks, cryptocurrency, gold, silver, commodities, etc. It would force the ultra rich to sell which would cascade down and cause asset prices to fall drastically. Do you want your house and your 401k value to get cut in half and never grow back again?
They’re doing this because they’ve spent money like drunken sailors and the bill is coming due.
We need a flat tax across the board on all income brackets!!! No loopholes. Keep it fair.
So want to penalize people who postpone consumption and instead invest?
What consumption are $100m people postponing?
@@shane0001 Lol, truth. These people aren't postponing anything. They have more wealth and money than they or their next few generations of children will need. I don't know why we are crying on behalf of them. Most of us here will never sniff a fraction of $100MM in total assets.
@@ISnip3rJoeIthe fear is that it will eventually make its way down to affecting the poorer.
@@ISnip3rJoeI Because, it's the principal of the thing. Wrong is wrong. Taxation based on envy and coveting is not good policy.
I am a selfish guy. I want the best for myself and my family. My future and my kids future will be good only when people who create value have the capital. This is the reason I left the country where I was born for USA.
Taxing unrealized gains requires a tax credit for losses.
You can't credit the losses once everyone's stocks goes to zero. There's not enough money in the world, and if you print the money to cover the bill, you'll get a sense of what our South American neighbors in Venezuela feel like, or the German's after World War I. Massive stock market losses, massive inflation, and no capital available to rescue anyone. And if it's the USA that goes through this process, vs a small South American country, or a European country over 100 years ago, the whole world will suffer.
Where are the proposals to cut spending?
Unrealized gains means stock from big companies who will have to sell their stock, therefore crashing its price, to pay tax on money they never received.
Still doesn't make it right to do it with assets over 100m.
It will hit pension funds, local authorities and people’s investments. Every bank, insurance company and service provider would be crippled.
IMHO how can we really expect anything different than the past 3 years under camel-uh’s watch ?
How are businesses supposed to grow and innovate if you tax all their profits away? All you’re going to do is make everything more expensive.
Harassing tax policy more like it.
For those who support taxing unrealized gains because its only for the uber rich, remember, income tax started by taxing only the "rich"
The whole idea behind the tax on unrealized gains above 100 million along with some of the other ideas is to prevent the snowballing of assets. When you start getting to extreme wealth your ability to buy entire towns exists. Think out 50 years. They buy all the homes, all the gold, all the stocks. If they aren't kept in check You will have an aristocracy
You can't defer a capital gain into a different asset.
Totally agree....look at these billionaires buying out islands, land, and shutting everyone out. The super rich need to be curtailed
Wtf you can't buy any asset without selling another asset that will create capital gains tax, or you can take loans but it will create more risk
As per the other comments, you really dont understand how this stuff works. The scenario you invoke already triggers capital gains tax under the current system.
@@bobtuiliga8691 maybe try reading the actual bill before you run your mouth? You'll see the difference
Problem we have Is politicians think they can give our money to everyone and then raise taxes when they run out. Quit spending.
This is her economic advisor and he doesn't even understand property taxes????
Property taxes are a local tax not a federal tax.
What this is really about is reimbursement of 25% tax for the super-rich investment corporations because they will allow their losses to be reimbursed and they expect big losses. Don't fall for it
Harris is nuts
Tax on unrealized gains, by definition is taxation based on an event that DIDN’T HAPPEN!
Wow! This won't affect me by a mile but to tax someone for something they haven't made!?!?
The people being taxed, are the people supplying you things. They will increase their prices to compensate, therefore you will pay more. So yes you will be affected
You will be taxed in the far future if this happens.
You own a car? You own a stamp collection? You own anything they would consider anything you own as a capital gain.
Are any of you worryworts worth over $100m? If so, stop complaining - is your property assessed and taxed annually? Does your hedge fund charge you 2% whether you profit or not? Does your financial advisor charge anything before you make anything? Is your attorney free if you lose?
They aren't supplying anyone with anything @@MrFritz6940
Same old argument. Tax the rich feed the poor but it’s the middle class that gets screwed.
I can see it now. They will call it.... "The joyful warm and fuzzy cute little puppies for all Act."
Who's gonna feed those puppies when we're all broke? We're gonna being EATING puppies when the inflation comes and the grocery store shelves are empty.
Here's the plan - 'we get our foot in the door... then we get our leg in the door... then we get ourselves halfway in the door... then we bust the damned door wide open...'; first we tell them it only applies to those with $100M in investments... then it only applies to those with $1M or more in investments... the it will only apply to those with $100k or more in investments... then it will only apply to those with $1k or more in investments... yeah, yeah, that's what we'll tell em, and that's what we'll really do once we get our foot in the door, and it starts to become "normalized"...
That's how it always is with anything the Government does, and especially anything the Government does that's started by the Democrats (Communists by any other name).
You have no rights, except the rights that the Government says you are allowed to have, according to the Democrats. You have no income, except what the Government says you are allowed to keep, according to the Democrats. You have no rights to your property, except what the Government says you're allowed to have, and they'll take you to court and take away your property if you don't follow their 'regulations' or you don't pay the taxes they say "you owe".
Additionally, as Maxine Waters said right out loud, and Pelosi agreed with her "The Constitutions says whatever we say it says", since they have no idea what it says, and for the odd Democrat who's trained in law, to use it like a weapon, (Goldman, Raskin, etc), the Constitution is twisted like a pretzel in an effort to make it mean whatever they want to make it mean.
...and as far as Kamala Harris goes, she just went full Communist with this idea of "taxing unrealized gains", along with her Government "price fixing" scheme with the government monitoring the price of every item sold anywhere in the country and dictating it's price, along with her claim that "price gouging" is to blame for the high cost of groceries in an industry where the profit margins are only 1-2% to begin with, as well as her idea of just giving every first-time home buyer $25k that the rest of us are expected to pay for for their down payment on their home... oh, yeah, and lets not forget her idea that healthcare is a "right" granted by the Government that she has pledged to give to every illegal alien, along with "decriminalizing" all illegal entry into our country...
Don't worry with inflation and a greedy government most Americans will be paying this tax before the decade is out.
You convinced me. I am now going to vote for a deranged lifelong con artist who assaults women.
So - IF this is only for the ultra-wealthy "1/2 of 1%" like he says, how will the tax on capital gains be figured BEFORE the asset is sold? What happens if someone (and I believe this is an inch-by-inch policy, meaning it will trickle to the rest of us) pays this so-called capital gains tax and then everything goes to pot or there is a depression, will they have overpaid and get money back? Common sense isn't a factor to this KH policy.
CNBC is a liberal organization.
Yes, but they are economists first - - I think.
yea and they don't even approve this tax idea lol, that's to tell you how absurd it is
But that's only the beginning.....these things expand and expand and are never terminated. Screw this !!!
We have Spending Problem!!!!
Drumpf wasted 8 trillion
You saying we should cut military spending?
Yeah, it was called Covid that the Democrats unleashed. The spending problem is from Biden-Harris. Funneling tax payer money through Ukraine, student loans being canceled, feeding and housing the 20+ million illegals
@@shane0001 The military toughly needs a financial audit. yea its a pricey business, but i've seen them waste so much money on silly pointless things with the mantra "spend it now at the end of this FY or we won't get as much money next year". Then next year rolls around and they have even more money, so they rinse and repeat. Each year the same offices get thousands of dollars worth of brand new desks, chairs, monitors, ect. The tacti-cool guys spend thousands of dollars on aftermarket gear because its "cool". Bases spend thousands/millions on beautification projects. There's so much abuse of tax dollars that exist its embarrassing. That's the money we pay in taxes. I support everything the military does but their financial spending habits are not always in the best interest of tax payers or saving.
This is madness, when did become rich become crime in this country
Welcome to Socialism folks. What could possibly go wrong?
So did someone swap the constitution on us? No
I'm not for this at all. Taxing unrealized gains is incredibly stupid, but it's not socialism. The right has been throwing around the words socialism and woke to describe almost any leftist agenda that the words have lost all their power. Anyways, if someoner writes this bill, it's dead in the water from moment one. This is all an election time talking point.
Public Healthcare and Quality Public Education hopefully. Who has any money in the states. Everything should be overseas anyway.
Racist
We have socialism for the wealthy and hard-core capitalism for the poor. The wealthy get all the government tax breaks. The poor get a minimum wage that never changes and low wages. It is called trickledown economics because the poor only get a trickle.
If the taxes on unrealized capital gains only affects a very small number of folks, how much revenue will it really generate. And do t kid a kidder. If you introduce this concept of taxing unrealized gain, what keeps you from applying it to lower income individuals. The concept alone is vile. Unrealized gain is NOT freaking income. Quit spending!!! And perhaps high income individuals get taxed at a lower rate, but they PAY MORE TAXES!!! Forty one percent of all workers pay NO taxes at all. The top 1% of earners already pay 40% of all income tax. Producers are financing this chickenshit operation already.
Ugh , if we allow these people into the White House we get what we deserve .
Best comment so far
Here's a thought, instead of increasing taxes on any single group, why not try lowering taxes on those you think are paying too much!
They are doing that. Did you watch the video?
Paying tax on unrealized gains is the same thing as paying taxes on taxes on a car you bought to flip and haven't sold yet.
That doesn’t make it right! If I were in such a position to be unrealized-taxed, I’d leave this country.
you and I will likely never be in that position
Punish the rich…this gets so old. Nothing new in the Democratic Party.
Making the rich richer and making the poor poorer is what gets old. Same old Republican Party.
The "rich" to the democrat will be anyone making $1
@@BillyMartin68 Biden is who is making the poor poorer with his inflation.
I like this newscaster, he’s interested in truth. So are we the people.
just the nose to the grindstone people who made it. Now these thieves want to steal it.
It’s called Communism.
We don't have a revenue problem, we have a spending problem... Stop looking to grab money from people who built their wealth and taxing their unrealized gains. Learn to cut Govt. cost.. Also, stop giving money to other countries and help your own citizens. And if you absolutely have to tax unrealized gains, then do it to people (over $100M), who borrow money against their stock to avoid earned income tax and capital gains tax.
how does it make sense to pay tax on unrealized capital gain? is the government gonna give back our money when there’s a loss?
These comments are quite entertaining.
Amazing to watch this man stick to his insane and dangerous script. Fortunately, it’s unlikely to happen
It could happen. Property Tax is exactly the same thing.
3:27 "In that time period, out of the 51 million jobs created in that time period, 50 million came under democratic presidencies." May someone please fact-check this CS thats insanely poor journalism to not question him on that
It's a fact more jobs were created under democratic president's than Republicans in the last 30 years or so...
The facts are accurate (rounding to the nearest million, GOP is at ~1.3M so round down to 1M). You are free to disagree on the correlation between Dem President versus stock market gains or job growth, but the numbers themselves are accurate.
@@seanmaertens8483interesting. Do u mind sharing the year the started from
You are discounting the fact that when you deploy capital to invest there is a risk associated with that. Guess what's going to happen when the risk/reward just doesn't make sense anymore? People will stop investing and capital investments will be greatly reduced .
They want to apply it to the rich first so they can make it the norm for rest of investors. Divide and conquer.
Straight out of Animal Farm.
This will devastate agriculture. Often farmers are "land rich" but cash poor. What are going to eat when all the farmers walk away? The bugs and rats you catch?
A criminal Talking point propaganda 😂
😂
$36 TRILLION DEFICIT.....CUT MILITARY SPENDING BY 50%, CUT FOREIGN AID BY 100%, NO MORE CORP AND INDIVIDUAL WELFARE! BRING BACK ALL OVERSEAS MILITARY. END ALL WARS! DUHHHHH!
Spreading the unrealized capital gains tax out for a few years. It doesn't work. Then, next year that same tax comes around again. You haven't finished paying the first year, and the second year is here. You can't sustain this tax.
I like this guest. Cool, calm, collected, but determined to speak truth!
Truth as opposed to fact?
@@macattack5272 truth as opposed to yo mama
What is the incentive to invest or start a business? If you fail you lose everything. If you succeed they take half. Why bother?
D= Socialism / R = Freedom / let's focus on where all of our tax dollars are going!!!!
R = racist women haters. D = do nothing.
"Unrealized gains" makes absolutely zero sense.
It makes perfect sense to a communist who is selling lies to plebs who don't understand anything about finances. They don't care. They won't even dare to do it - they're just making up stupid horrible proposals to appeal to the voters with the least amount of financial education.
Reminds me of the temporary income tax and property tax. ....
Basically an advertisement for the DNC
I love how he blatantly misrepresented information and obfuscates the facts under blatantly inaccurate statements.
They need money somehow for the healthcare for illegals.
So delusional