Post #15101 by Dope1 on the US Policy board

Halls of Shrewd'm / US Policy ❤

Unthreaded | Threaded | Whole Thread (90)

Post New | Post Reply | Report Post | Recommend It!

No. of Recommendations: 1

But none of those objections invalidate the central argument - which is that if your shares increase from being worth $1K to being worth $10K, you have earned money on your investments. Your earnings are not realized taxable income as currently defined - but they are not zero.

And this is where the left goes off the rails and veers into wealth taxes. I suppose a state could do that but then the richest would just…leave. Washington is learning that right now.

Which means that Biden is correct, in that billionaires generally don't pay very much tax on the money they've earned.

Language sleight of hand alert!

Sorry, I don’t grant this point. Unrealized income is not recognized as taxable income. Either we have fixed accounting rules or we don’t.

Post New | Post Reply | Report Post | Recommend It!

Print the post

Unthreaded | Threaded | Whole Thread (90)

Prev | Next

Announcements

US Policy FAQ

Contact Shrewd'm
Contact the developer of these message boards.

A community forum supporting civilized, and highly helpful, self-educating investors that come together for Shrewdness and merry spirits. These message boards closely follow the look and feel of the old message boards at boards.fool.com prior to the boards redirected to discussion.fool.com. Shrewd'm is not affiliated with the comprehensive and excellent investment website, The Motley Fool (TMF), in any way. The Shrewd commmunity here has owed, and continues to owe, gratitude to The Motley Fool for nurturing a culture of jovial irreverence towards Wall St, and that tradition will continue here.