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Discussion and Debate
Discussion and Debate
Politics
American Politics
Biden's capital gains tax proposal could crush the economy, experts say
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<blockquote data-quote="o_mlly" data-source="post: 77668237" data-attributes="member: 434838"><p>Nope. The Biden tax rate hikes would apply only to long-term capital gains; assets sold at a price greater than the price at which the asset was bought and held for 1 year more. Asset sold in less than 1 year at a price greater than the price bought are taxed as ordinary income.</p><p></p><p>What exactly is an "unreal" investment? And what little formula are you referring to? </p><p></p><p>Tax incentives? Do you mean shifting the tax burden from the wealthy to the working man so the wealthy can buy those electric cars? You know that unless those cars are used in business, they are not depreciable. BTW, you can pick up one from Hertz. They will not likely owe any capital gains tax on the transaction.</p></blockquote><p></p>
[QUOTE="o_mlly, post: 77668237, member: 434838"] Nope. The Biden tax rate hikes would apply only to long-term capital gains; assets sold at a price greater than the price at which the asset was bought and held for 1 year more. Asset sold in less than 1 year at a price greater than the price bought are taxed as ordinary income. What exactly is an "unreal" investment? And what little formula are you referring to? Tax incentives? Do you mean shifting the tax burden from the wealthy to the working man so the wealthy can buy those electric cars? You know that unless those cars are used in business, they are not depreciable. BTW, you can pick up one from Hertz. They will not likely owe any capital gains tax on the transaction. [/QUOTE]
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Biden's capital gains tax proposal could crush the economy, experts say
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