zlacker

>>southe+(OP)
I wonder if this is coming up just before the election because of the Harris campaign’s suggested policy of capital gains tax on unrealised gains for people who have over $100m in assets? I think this is a great idea personally given what these people are doing to avoid paying tax including taking out loans against their own share portfolios. Worth thinking about what people are willing to do to not pay billions of dollars worth of taxes.

>>andy_p+ex
Unrealized gains taxes is an extractive and totalitarian tax. Someone is always risking 100% loss until they realize those gains. It's an affront to entrepreneurial risk-taking and it's capricious. It would be just as ridiculous to allow someone to write-off unrealized losses.

>>chrisc+fX
As someone else has said just let them pay their taxes with stock, if that were the case I think it addresses most of your points right?

>>andy_p+BY
And if the asset is a farm?

>>rv3909+Q11
How many $100m farms are there that are not part of publicly traded companies are there in the US?

And again, this is for publicly traded stock portfolios. Private farms won’t be broken up… yet :-)

>>andy_p+z31
Are you sure the Harris proposal is only about publicly traded stock portfolios? Maybe I'm missing something, but I don't see publicly traded stocks being singled out by the President, which is supposedly the policy Harris is adopting.

"The proposal would impose a minimum tax of 25 percent on total income, generally inclusive of unrealized capital gains, for all taxpayers with wealth (that is, the difference obtained by subtracting liabilities from assets) greater than $100 million."

https://home.treasury.gov/system/files/131/General-Explanati...

And there are many private farms in America worth more than $100m. I have no idea what amount of that would be "unrealized capital gains", which is kinda the problem.