Running_Man
Thinks s/he gets paid by the post
- Joined
- Sep 25, 2006
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The top Democrat on the tax writing committee has proposed taxing unrealized capital gains at the same rate as income is currently taxed. This would certainly get Warren Buffet to achieve his goal of being taxed more. Normally I would think this is the single least likely tax to get approved, however as this is proposed by the ranking Democrat this must have been discussed by other Democrats, would pretty much end the bull market. Of course 401K & Roths would be exempt from this, but would eliminate the advantage of holding non dividend paying stocks outside the 401K and bonds inside null and void.
Were this to pass would make the time between Jan 1st and April 1st an interesting time in the stock market, as the need to sell shares would be in that period. Would also bring in a heck of a lot of money the first year.
https://www.wsj.com/articles/top-democrat-proposes-annual-tax-on-unrealized-capital-gains-11554217383
Were this to pass would make the time between Jan 1st and April 1st an interesting time in the stock market, as the need to sell shares would be in that period. Would also bring in a heck of a lot of money the first year.
https://www.wsj.com/articles/top-democrat-proposes-annual-tax-on-unrealized-capital-gains-11554217383
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