/biz/ - Business & Finance

[Anonymous No.17626370]

Somebody help me understand why capital gains tax is beneficial to us. Please I want to know.

[Anonymous No.17626416]

>>17626370
It was never meant to be beneficial to us. You do understand how taxes work right?

[Anonymous No.17626432]

It's beneficial for Uncle Sam

[Anonymous No.17626434]

>>17626370
Taxes are beneficial for those who use free gibs, that is all

[Anonymous No.17626457]

This is why you should never buy anything shilled on biz. You never know the depth of how stupid people can be

[Anonymous No.17626472]

>>17626416
All I want to do is take a portion of the money that I have made in stocks over the course of 20 years and temporarily move it my savings so I have cash handy in case my elderly parents get sick in their nursing home (80s). For this I am penalized 15%. What the fuck did i do to deserve this?

[Anonymous No.17626489]

You aim should be to get most of you wage via capital gains rather than income, that's what rich people do.

[Anonymous No.17626548]

This shit is literally redpilling me I'm so angry. Who should I blame for this?

[Anonymous No.17626553]

>>17626370

Help me understand why you dumb fucks thing real work should be taxed more than capital gains aka sitting on my ass collecting rent checks. I don't get this retard cuck mentality. All income should be at least taxed the same, if anything capital gains, aka a millionaire heir's trust fund, should be taxed more than working wages. People who actually work and create things get taxed more. And you cuck retards defend this. A person who inherits all his money and never works a day in his life pays a lower tax rate than a farmer, construction worker, police officer, fireman, etc. Capital gains should be taxed more than income, and you could lower income tax for the same overall taxation to encourage actual productive work.

[Anonymous No.17626556]

>>17626370
Because it'll net me a bigger return from LINK, faggot.

[Anonymous No.17626571]

>>17626553
Neither should be taxed at all.

[Anonymous No.17626588]

>>17626571

Have to cut out half the government to make that happen. Until then capital gains should be increased so that income tax can be less.

[Anonymous No.17626609]

>>17626553
>sitting on my ass collecting rent checks
You understand that being a landlord isn't that simple right? You have to deal with niggers vandalizing your property, delinquent rent, routine maintenance, property taxes, potential lawsuits if some drunk retard falls and hurts themself on your property. If you think the government can do a better job at providing housing then I implore you to look at the state of housing projects across America. Just kys commie

[Anonymous No.17626611]

>>17626472
In the UK if you have a not shit job it is 30%.
Even if you retire when nulink hits $100 and try to cash out you have to pay 20%.
>>17626553
Because you dumb fuck it involves taking a high degree of risk. Just because the average Joe is stupid enough to piss it up the wall or spend it on garbage, doesn't mean they should be allowed to deprive entrepreneurial anons of their gains.

[Anonymous No.17626612]

>>17626553
Gtfo with tax the rich more mentality.
Neither should be taxed. We all have a common enemy which is the govt. We should be working together to starve the beast.

[Anonymous No.17626615]

>>17626553
As capital becomes more costly, the worth of workers drops. Real wages have a direct, demonstrable relationship to capital.

How much money do you have anyway? I'll bet you're poor.

[Anonymous No.17626647]

>>17626472
It doesnt get any easier. Sorry anon, the red pill is tough to swallow. I mean, you should be happy you're getting taxed at long term rates and not short term lol. They will fuck you anyway they can and they eventually will get your money.

[Anonymous No.17626723]

>>17626647
There has to be some argument in favor of this shit. All the arguments I have seen are based on things that "should" be, or moral arguments, but nothing with tangible evidence, and nothing that speaks to the actual mechanics of the system.

If there is no good argument, then the only other worthwhile question is who can I blame for this.

[Anonymous No.17626757]

>>17626609
>what is a property manager

You literally just collect a check every month. It should be taxed at least as much as a construction worker busting his ass every day to build actual shit.

>>17626611

Doesn't matter if you call them "entrepreneurs," why should they be put in a special, preferential tax class just because they inherited money? They should pay the same tax as everyone else. If anything the government should tax actual productive work less to encourage people to actually be productive and not look for ways to game the system and make money doing nothing, and then get a tax break on top of it.

>>17626612

We're not talking about overall tax, we are talking about capital gains tax in proportion to income tax.

[Anonymous No.17626798]

>>17626757
No I am saying those driven anons like oatmeal brah who squirrel away their savings and invest in volatile assets should not be penalized if they make a profit.

[Anonymous No.17626827]

>>17626757
>If anything the government should tax actual productive work less to encourage people to actually be productive

People are forced to invest because inflation and taxation destroys wealth

>>17626370

The government can do what they like because you are cattle being farmed

[Anonymous No.17626838]

>>17626723
They tax every single event in your life. Where have you been? They've been doing it to you your entire life. You never heard the saying "The only thing guaranteed is death & taxes"? They will continue to do this to you until you are dead. If you're so upset by it, hire an accountant that knows taxes and use him to work the system in your favor but keep in mind this is only lowering what you will HAVE to pay.

[Anonymous No.17626843]

>>17626757
Entrepreneurship moves the economy. Tax it too much and you deter people from making businesses, creating new jobs and producing anything of value. Seriously, read a book on Economics and policy-making.

[Anonymous No.17626857]

Taxes are never beneficial in the long run

[Anonymous No.17626862]

>>17626370
>capital gains tax
Lel. In leaf land we just add half of our capital gains to our income and the other half is left untaxed.

[Anonymous No.17626893]

>>17626370
nigga how I'z gon raise mah keedz witout no goverment assistance. yo privileged whyte ass got lucky investin in shit while ppl in da real world be strugglin. be humble whyte boi.

[Anonymous No.17626908]

I haven't paid taxes in 10 years. IRS sent an audit notice to my PO box so I mailed them some dog turds and changed to a new PO box.

Needless to say I am self employed and do a mostly cash business, but lol. That was 3 years ago. Haven't heard from them since.

[Anonymous No.17626930]

Gibs for niggers and dronestrikes for sandniggers? What a waste if fucking money. Maybe I'd shell out if us govt was setting up a colony in mars and actively deporting niggers to africa where they belong. That will never happen though. My credit score is in the 400s lmao.

[Anonymous No.17626974]

>>17626757
property managers can steal from you, plus they don't care about your properties as much as you do. They'll put shit quality tenants inside just for a quick profit
Most sucessful landlord either self manage or start their own property management companies so they don't get scammed

>>17626908
fucken based

[Anonymous No.17626980]

>>17626798

Why should someone working and actually producing things be "penalized" more than someone gambling on volatile investments?

>>17626843

I'm not talking about entrepreneurship, I'm talking about capital gains. Taxing capital gains doesn't discourage investment. If you make 20%/year on stocks, are you going to hold cash and make a negative return just because you would have had to pay taxes? That's retarded logic.

>>17626827
>People are forced to invest because inflation and taxation destroys wealth

In a fiat monetary system taxation is just a way to control the money supple. With fixed government spending and monetary policy more taxation = less inflation. Less taxation = more inflation. Its the way different activities are taxed relative to others is how the government can encourage / discourage different activities. Productive activities that are beneficial to society should be encouraged with low taxes. Activities that do absolute nothing of value like gambling or rent seeking should be discouraged and taxed.

Can you explain why squatting on some capital asset to extract rental income should be taxed less than people who are actually working to produce things of value?

[Anonymous No.17626990]

>>17626974

Yeah, property managers are actually doing work, providing services, and they are taxed more than the landlord who just sits on his ass and collects a check. Why do you defend that?

[Anonymous No.17626995]

>>17626370
>Somebody help me understand why capital gains tax is beneficial to us

it's great because it allows the super-rich to get away with paying 15% on their income while the average schmuck is paying 40%

[Anonymous No.17627024]

>>17626980
Define the jobs that are "actually working" and the jobs that will be taxed your 110% capital gains tax.

Then, state the person (not the office) in the government who will be the one making the decision that you just fleshed out. You may attach a pic of said person if you do not wish to describe who it is.

[Anonymous No.17627041]

You know what to do OP.

[Anonymous No.17627071]

https://www.cato.org/publications/policy-analysis/abcs-capital-gains-tax

[Anonymous No.17627148]

>>17626548
J

[Anonymous No.17627194]

>>17627148
What the heck is J???

[Anonymous No.17627284]

>>17626553
Taxing investments is double taxation. Someone worked a physical job to save money, paid taxes on it, then invested the net. It shouldn't be taxed trying to withdraw money you saved/made. Same with poker, and gambling in general...it's bullshit that the usgay takes the giant cuts they do, repeatedly. Income tax, then rake (which is later taxed), then 25% if you're actually good. For a fucking card game between private citizens.

[Anonymous No.17627299]

>>17627194
E

[Anonymous No.17627388]

>>17627299
I have no idea what E means, I'm just asking who I can be angry at for all this... this shit world! This economy is literally a huge trap! A ponzi scheme!

Whoever thought all this shit up DESERVES punishment.

[Anonymous No.17627419]

>>17626472
Depends on where you live. In nordic countries you get free education, healthcare etc. Maybe in the US you get more guns for the army or something, idk

[Anonymous No.17627437]

>>17627388
W

[Anonymous No.17627475]

>>17626611
aren't dividends in the UK tax free? So if you do buy&hold you never have to pay taxes

[Anonymous No.17627481]

>>17627437
Wait a second, are you trying to tell me people of Jewish faith are responsible for taking my hard earned money in deceitful ways for the benefit of their race? Anon you have no proof of that, this is crazy talk.

[Anonymous No.17627585]

>>17626370
>money to provide immigrants with housing/food/shelter
>free clinics so stacy can get free birth control+abortions
>money to drone strike other countries
>money for Israel
>welfare + foodstamps so laquisha doesn't break into your house and kill/rob you
>money for tax breaks for the wealthy

And of course lets not forget the politicians who dedicate their lives to serving you. And the numerous potholes that never seem to be filled on the road because they don't have enough money(they spent it on lavish dinners and child prostitutes).
You arent selfish right?
How can you ignore those many benefits?

[Anonymous No.17627622]

>>17627419
we get holocaust class and pay for birthright trips to israel for any non-goyim living among us

[Anonymous No.17627645]

>>17627481
That's impossible! Jewish people are still trying to recover from the holocaust™ and despite having larger numbers leaving Europe as "refugees" at the end of the war than the census numbers from the beginning...it is still a struggle to this day, so donate more to Israel go-err guy!

[Anonymous No.17627652]

>>17627585
How about this equation

instead of paying taxes buy a gun
the cost of 1 gun nut to tax payers is millions of dollars
we're looking at a 25x return in if we wanted to stop paying taxes
guns put us at +EV against the government but we never cash in on this prop

[Anonymous No.17627726]

if we don't cash in on our only +EV we get drowned by niggers and spic
white's birth rate is like 30% now maybe less in formerly white countries
The central banks have used flow of money to change the face of america
They discriminate against white men to the point we don't have our country anymore it is gone
we don't have the jobs, we don't have the birthrates, our currency is fucked, our economy is fucked, degeneracy and filth everywhere
at what point is it worth standing for something

[Anonymous No.17627740]

>>17626370
Stop being greedy. You need to pay your fair share.

[Anonymous No.17628170]

>>17627284
You dont get taxed twice.

Let's say you earned 13k, maybe after normal salary taxes it's down to 10k. You put in stock market, and pull it out a few years later at 15k. You're only taxed on the 5k gain. You're not taxed again on the original 10k.

It would be weird if you didnt get taxed.

[Anonymous No.17628301]

>>17628170
Lol

[Anonymous No.17628382]

>>17628170
Bump, it's actually a good point. There's your explanation OP.

[Anonymous No.17628385]

Because capital gains takes risk, is not a guaranteed source of income and provides liquidity to companies to improve their cap-ex and op-ex which would imply that people would pay a lower tax rate than some joe sitting in an office getting a consistent paycheck.

Socialists like you need to take a helicopter ride and learn you're not entitled to other peoples efforts and are insignificant.

[Anonymous No.17628541]

>>17628385
But he's right, why wouldnt you get taxed on all your income fairly? Both what you got from your job as well as what you got when you cashed your stocks? It's all income.

[Anonymous No.17628617]

>>17628541

Because it's not income. Do you get taxed the same on inheritance of an estate?

[Anonymous No.17628629]

>>17626472
>only 15%
what a capitalist country you live in, here in finland its over 40%

[Anonymous No.17628702]

>>17626588
Welfare is the largest portion of government spending. I think we could stop throwing free money at nigs, corporations, and 3rd world dictators.

[Anonymous No.17628739]

>>17628617

Inheritance should be taxed the same as income.

[Anonymous No.17628784]

>>17628702
>Welfare is the largest portion of government spending
Social security is actually, which is a type of welfare mostly used by old white people. I hate black degenerates just as much as the next guy, but you're a fucking retard.

[Anonymous No.17628787]

>>17628739

It's already been taxed and an individual should have the right to pass down their assets to their kids or who ever without being ass raped in taxes. Seriously why are you so adamant on using government coercion and force to take other peoples stuff when you know damn well you'll get a penny of it? It's pure jealousy isn't it...

[Anonymous No.17628836]

>>17628702
you mean military?

[Anonymous No.17628866]

>>17628617
But you can just write off the losses?

[Anonymous No.17628909]

>>17628787
>inheriting $100 million instead of $150 million
>getting ass raped

Why do you cucks get baited into feeling sorry for people who have inherited massive wealth? Seriously, people inherit 100 times what you and your family will make their entire lives working for them and you feel sorry them because they have to pay just 1 cent of taxes let alone what proportion have to pay. What a cucked mentality.

[Anonymous No.17628953]

>>17628909
holy fuck
family and bloodline is the only thing you have, thus it shouldnt be taxed.
EVERYTHING YOU EARN, YOUR FAMILY EARNS.

not my fault if you are a nigger who doesnt have a stable bloodline or a family, its your genes that are the problem, and they need to be forcibly removed from this society, for they are the majority users of welfare, aka my tax dollars.

[Anonymous No.17628954]

>>17628385
damn I can't wait, 10-15 years and all of these old faggots will be gone

[Anonymous No.17628965]

>>17628866
For individual this actually hurts nothing if you can write off the loses.

[Anonymous No.17628971]

>>17628953
>family and bloodline is the only thing you have, thus it shouldnt be taxed.
Or raise better children so that they can acquire their own wealth instead of mooching off of daddy their entire lives.

[Anonymous No.17628990]

>>17628971
Nigger, wealth is meant to be passed down, but thats done after the death of the father, not before.

Seems like you haven't gotten a good or even mediocre upbringing, acting like a negro who blabbers on about money as if he had some.

[Anonymous No.17628994]

>>17628953

If your parents are a million in debt when they die, should you be on the hook? No? Then why should you be entitle to their money?

I like the idea of family unit taxation, but then it would have to work both ways. I like the idea of every billionaire's child's failing business bankruptcy would actually come back to them instead of being charged to the public.

[Anonymous No.17629013]

>>17626553
We already don't have enough people creating new things.

If you build something that makes life better for workers, like Amazon, capital gains taxes are a way of saying "fuck you, stop trying to advance society".

[Anonymous No.17629014]

>>17628994
>If your parents are a million in debt when they die, should you be on the hook?
>no because they dont get off the hook?
at least not in my country which is not the "US of A"

[Anonymous No.17629034]

>>17628971
I'm a self made millionaire lol

When I thought there was no way out of waging, I was sad because capital gains was lower

Then I realized I could make a shitload of money if I built an actual business.

Was gonna do that with my first mil but fucking coronachan came and ruined that plan.

[Anonymous No.17629069]

>>17629034
What do you do?

[Anonymous No.17629078]

>>17629034
That's all fine and dandy, but what the fuck does that have to do with you raising children? I am not a millionaire (won't be long though), but I won't be giving my children any more money than the cost of college. Preferably, I won't give them a damn thing and they'll go into trades or the military. I'll burn the rest before I spoil my children with a shitload of cash.

[Anonymous No.17629121]

>>17626370
It's a disincentive to pure speculative activity.

>>17629013
>If you build something that makes life better for workers, like Amazon, capital gains taxes are a way of saying "fuck you, stop trying to advance society".
If corporations were really investing back and doing R&D and stuff instead of just buying back stock maybe you'd have a better case. You don't get taxed for that in the same way.

[Anonymous No.17629138]

>>17629013
>If you build something that makes life better for workers, like Amazon
Amazon workers were literally pissing in bottles because they didn't have bathroom breaks. What the fuck are you talking about

[Anonymous No.17629184]

>>17629138
But those workers can always just leave. Also, surely Amazon is a good thing, everyone shops from them, they employ tons of people.

Where's the argument in favor of capital gains here?

[Anonymous No.17629213]

>>17629184
>Also, surely Amazon is a good thing,
No, they're not. Monopolies like Amazon make building a business damn near impossible. Do you think people today have the same chances at succeeding in building a business as they did before Amazon? Monopolies are going to be the death of capitalism if things continue as they are.

[Anonymous No.17629228]

>>17629184

Amazon's entire profits are from AWS. Amazon's retail margins are so razor thin, if they didn't figure out how to game the system to pay 0% in taxes they would shut amazon retail down.

[Anonymous No.17629247]

>>17629138

That was a PR stunt for some stupid union or left wing group. Iv worked at amazon and you're allowed to use the bathroom. Working at amazon is easy and can be done by anyone.

[Anonymous No.17629254]

>>17629213
Amazmon is not a monopoly. I did ecommerce successfully for years with almost 0 capital or experience. Amazon is just damn good at what they do.

[Anonymous No.17629292]

>>17626370
>government spending up
>tax rates down
how is this sustainable?

[Anonymous No.17629376]

>>17629292

Fiat monetary system. Government can create how ever much money it wants. Inflation has been somewhat curtailed by deflationary pressures like technical innovation and out flow of dollars overseas due to increased dollar hording and trade deficits.

[Anonymous No.17629500]

>>17629292
read about modern monetary theory, all money in existence is just credit from the central bank and taxes aren't a funding tool, they're interest rates, such is the way of fiat

[Anonymous No.17629507]

>>17626553
You stupid fucking commie fuck.

I have a job and get paid to do what I do well. That is what I agreed to when I sought employment. BEFORE I get paid, the US government decides that I have to give 13% of my earnings to them in order for the useless bureaucracy to keep going and pensions to be paid out to Boomers. Fine, whatever, some of the taxes taken out of my earnings actually do benefit society as a whole. But you're fucking telling me that it is completely OK for the US government to tax me EVEN MORE down the road because I saved and invested the money I already earned and was ALREADY TAXED into projects and companies that I took a risk on and thought would take off if I invested. Fuck you.

It astounds me that calling people who earned their money and wanting to keep what they earn as being "greedy" for not giving it away at gunpoint to the needy poor (read: more govt spending for their """workers""" and more corporate subsidies that kills competition), is somehow a virtuous and right thing to do and not hypocritical at all.

[Anonymous No.17629561]

>>17629507
I think most people who want to "tax you more" would rather tax the top 10% more honestly. If you are making less than like $400,000 a year, then I really don't think the people in this thread are talking about you.

[Anonymous No.17629591]

>>17626757
>inherited money

How the FUCK do you think investing money you already earned at the risk of losing it is in any fucking way, shape.or form "inherited"? And no, estate taxes shouldn't exist either. If a successful person saves and invests to the point where his children don't need to work a day in their lives after he dies, why should the government say they get to tax capital that largely was already taxed multiple times throughout the accumulation of it?

[Anonymous No.17629605]

>>17629591
>where his children don't need to work a day in their lives after he dies,
Because that is more niggerish than nigger shit.

[Anonymous No.17629629]

>>17629213
Amazon is not a monopoly

Shitty trash businesses get started by incompetent people on Amazon. They don't know what the fuck they're doing- setting up their own website is like black magic to them.

Since Amazon is the only thing they know how to use, they think Amazon is a monopoly when in fact Amazon simply came along and gave them an option they didn't have before by lowering the bar to the point a retard can start an online "business".

If you actually want to have a successful business selling shit online then Amazon is only a part of it. These idiots don't understand that, hence the crying about Amazon being a monopoly.

When Amazon gives you a turnkey solution to getting started and starting your own site requires work, those who hate work are going to think Amazon is the only option.

[Anonymous No.17629632]

>>17629561
look, if someone makes 400k+ working a real job, i'm not interested in taxing them more

taxing the rich is a low iq talking point

the question should be about what is getting taxed.

[Anonymous No.17629653]

>>17629069
Software engineer who aimed for FIRE at a company that pays more than most in a major city where software engineers get paid a lot more than most places to begin with

[Anonymous No.17629704]

>>17626908
>>17626930

Holy fucking based and redpilled.

[Anonymous No.17629759]

>>17629507

You're so far into that cuck mentality that you can't realize taxing capital gains more would allow your income taxes to be reduced.

I'm not talking about government waste, it would be great if we didn't have to have any income tax. But income should be taxed less than capital gains. And unless you plan on inheriting many millions of dollars you would benefit from that too.

>>17629591
>what is cost basis

You're not paying taxes multiple times. And why do you think the risk matters? If you lose money in an investment, I think you should be able to write that off, and you can now up to a degree.

But if you put money into a business, one that uses roads, a business that operates in an environment suitable for business, that isn't looted (thank you police), that employees people educated by public schools and universities, then you profit from that business, why should you not pay taxes on the gains made possible by those things? You only pay taxes on the gains, your original investment is not taxed twice.

[Anonymous No.17629849]

>>17629653
I meant the business you started, but based and gj on FIREing

[Anonymous No.17629997]

>>17626553
>capital gains aka sitting on my ass collecting rent checks
kys

[Anonymous No.17630000]

>>17629500
>>17629376
this is just insane

[Anonymous No.17630002]

>>17629561
No, that's not at all what they are saying because capital gains applies to everyone. It's actually more fucking important for people who have less money. How do you think they move up in society? By working hard at the french fry machine? They invest or they flip houses or start a business.

This argument, all these arguments, get warped when confronted with the reality of the wealth disparity in this country. This is why Bernie bros are mostly youth. The adult realization is that just because those people are rich doesnt mean everyone who is not them is poor, and it may not be the rules of our financial system alone that produced this situation.

[Anonymous No.17630109]

>>17629759
The money is taxed twice you retard. "Putting it in stocks" is just giving it to someone else for them to use in their business. The money gets taxed in their possession, then again when I take part of it back by pulling out of the stock.

[Anonymous No.17630177]

>>17630002

As long as you make more income than capital gains, you'd benefit from a higher capital gains tax and lower income tax. And think about, most people retire will less investment income than their income working, so if you have more capital gains than income you are well beyond even being financial independent. Anyone with more capital gains than income is going to be extremely wealthy already because it implies 10x+ more wealth than income.

>>17630109

Nope. Buying a stock is just transferring money to whoever owned the stock before. Even if you bought millions of dollars of stock, enough to move it 1 cent. Unless the company is selling equity you're not putting any money into the actual business. You're just buying access to the dividends and voting power, any any other tangible value the stock may have.

Now you'd be a little more right if you were talking bonds.

[Anonymous No.17630566]

>>17630177
You buy access to the dividends at a cost you retard. Who do you pay that money to? The company. They spend it in ways and make more money. Regardless of how they spend it, at the end of the day you've contributed, and can pull a return.

That's actually the crux of this whole thing. The ways they spend it are... their ways. If they spend that money (and other money they have) unwisely, you may not get a return to pull at the end of the day. It is your personal decision to use your money towards this venture. Captial gains says it is your personal decision to take that risk, and then politicians, military, state schools, and laquisha get a cut of whatever you make.

Captial gains are an extra tax, and as such exist on moral grounds only. Unfortunately any moral argument falls apart when you see how they are executed in reality.

[Anonymous No.17630773]

>>17630566

When you buy a share, you are just paying whoever owns that share. Outside a very few scenarios, like IPOs (which the public can't even buy), no money goes to the company. Not that it really matters for this argument, but you don't even seem to understand how the secondary market for stocks work.

[Anonymous No.17630800]

>>17626723
>If there is no good argument, then the only other worthwhile question is who can I blame for this.
>who I can blame for this

You're so fucking close, but won't go all the way. Maybe a few more years of getting brutally fucked in the ass will wake you up, but I doubt it.

[Anonymous No.17630813]

>>17627419
> In nordic countries you get free education, healthcare etc.
So do people who are on gibs and never paid any taxes.
The right answer is offshores, double citizenship, shell companies and tax evasion. Plus a fake disability (chronic depression, assburgers, ADHD are pretty easy to fake) and get them gibs the wagecucks paid for.

[Anonymous No.17630856]

>>17630109
More than twice. If you are a wagie, who works for a company, the company gets taxed before paying you your wage, then you pay income tax on your wage, take the rest and give is to a company via stock investment, the company is taxed, gives you the rest of the profit and you get taxed again, then you take the money to buy stuff and get taxed via VAT etc etc.

The most greedy and cruel lord in the medieval times was taxing his peasants 40%. You are cumulatively paying 70%-78%.

[Anonymous No.17630895]

>>17630856
Is there an infographic or something on this? I'm having trouble picturing it in my head.

[Anonymous No.17630950]

>>17630895

Hes a retard. By his logic everyone is being taxed infinitely. Went you earn money, its taxed, and when you spend it, that's someone else's income, so its taxed. That's how an income tax works.

[Anonymous No.17630955]

>>17630895
Nah, but we should make one. Basically everything anyone does with their money or property is a taxable event. Cars are taxed, real estate is taxed, weapons are taxed, in most Euro countries even dogs are taxed. No one in their wildest dreams could imagine a baron putting a tax on a dog. They would make songs about his greed.

[Anonymous No.17630985]

>>17630950
>and when you spend it, that's someone else's income, so its taxed.
So why do you pay the tax, if it's someone else's income? You literally pay 6% to 19% every time you spend money.

[Anonymous No.17630999]

>>17630955
>>17630985

Congratulations. You've just learned economics 101. One person's spending is another person's income.

[Anonymous No.17631011]

>>17630985

Because that's how an income tax is literally defined. Its supposed to work like that.

I've argued this whole thread income tax should be lower compared to capital gains.

[Anonymous No.17631022]

>>17631011
>>17630999
I'm not talking about income tax, retards.
There is a thing called "sales tax" in US and "VAT" in the rest of the world. The buyer is taxed for everything he buys.

[Anonymous No.17631044]

>>17631011
>>17630999
Also, if you own stock in a company, you own the part of the company. So every tax the company pays is automatically your tax too. So capital gains tax is actually illegal.

[Anonymous No.17631128]

>>17630000
Remember when you watched The Wolf of Wall Street and McConnaughey's character outright says that what they do is sell "fairy dust, it is no matter, it's not fuckin' real!"?

That's the fiat credit-debt system we have been engaged in for the better part of a century.

[Anonymous No.17631236]

>>17631044

Think a stock like any other asset. If you buy a tracker for example for a farm, then you sell a bunch of food and make an income. You pay income taxes on that. But now the tracker is used and has less value. That's a capital depreciation and you should be able to deduct that at some point, right?

Now imagine the same thing with a stock. You buy a stock, the company pays a dividend. Now the stock is worth less (company has less cash after the dividend) so the stock is worth less, if you sell the stock at a loss you should be able to deduct the loss right?

So why shouldn't the reverse be trust for appreciating assets? If you buy a stock, or any other asset which appreciates in value, you should conversely be taxed on the difference.

In fact it would make no sense for capital gains not to be taxed, and opens up a ton of loop holes in the system for wealthy people to take advantage of. This is why richer people pay much lower taxes than working people, because of the reduces taxes on capital gains.

[Anonymous No.17631242]

>>17626723
>who can I blame for this

Who indeed...

[Anonymous No.17631427]

>>17631236
Because the outcome of the performance of assets that you own is a separate topic from government collection of wealth earned by its citizens.

[Anonymous No.17631852]

Capital gains is better than being taxed as regular income because it is a lower tax rate if you hold for long term capital gains. Unfortunately, it becomes overly complex and the US government wants to tax crypto to crypto trades which is a headache for everyone. Really, it should be taxed as income only when cashing out, or purchasing a good or service.

[Anonymous No.17632794]

The real question is how do I cash in my BTC here in the US without having to pay a capital gains tax?

Is it even possible?