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/biz/ - Business & Finance

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57263359 No.57263359 [Reply] [Original]

>Americans have to pay 50% taxes on their gains

>> No.57263373

>>57263359
I have to pay 4k a month in taxes on a house I own in Texas

>> No.57263381

>>57263359
What the fuck

>> No.57263385

>>57263373
>he fell for the hoomer meme

lmao

>> No.57263505

>>57263359
its over, the time for revolution was yesterday

>> No.57263547

>>57263359
In what world are Americans paying a 50% tax rate on crypto gains?

>> No.57263556

40% net tax here in Denmark. Fucking scam.

>> No.57263576

>>57263359
Ever heard of a Roth IRA, dumbass?

>> No.57263590

>>57263385
I fell for the red states being cheap meme

>> No.57264370

>>57263547
* Short-term cap gains (bought and sold in less than a year).
* In the top income bracket federally (37%)
* New York state tax at the top income bracket (10.9%)
* New York city tax at the top income bracket (3.87%)

Total tax rate: 51.77%

Thank you government.

>> No.57264393

>>57263556
On capital gains?

>> No.57264395
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57264395

>>57263359

>> No.57264404

>>57263359
Wow, I thought I had it bad as a Canadian. I only have to pay taxes on 50% of my gains. So only ~25% tax if I am cashing millions of dollars out

>> No.57264416

>>57263359
Jesus Lord, and i thought that 26% here in Italy was bad

>> No.57264469

>the govt is stealing from me
yes
but how is that any different from any time in history?
hundreds of years ago if those in power needed something from the people, they would go to their homes and take it from them
there is always a group with power who will take what others have
so stop bitching and pretending only this time is not fair
even if you remove the govt, something else will take its place and will take stuff from you and you will be bitching about the same

>> No.57264876

Man reading all these stories of faggots that won the lottery or something similar and had to pay literally over 60% or more in fucking taxes is literally soulcrushing. if I ever make it trading shitcoins with rango (haha) ill just take everything and flee the country. They'll probably start a global search for me as a terrorist or some excuse like that just to try and get their filthy paws on my rightfully earned cash but fuck them

>> No.57264920

>>57263359
>25% if 1.5m+

>> No.57265069

>>57264370
Sales tax once you buy stuff with the money is another 12.5% + tip, please and thank you goy.

>> No.57265184

>>57264370
thats why i only do long term, without income (because only poor people need income), and not in jew york
i pay zero taxes legally this way

>> No.57265193
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57265193

It makes me absolutely sick to my stomach that I can spend cycles learning from my mistakes and educating myself on how to trade while INVESTING MY MONEY as a poorfag only to finally make $100,000 in a year only for these goddamn tunnel rats take over half of that. I won't do anything about it of course.

>> No.57265196

>>57263359
its not 50%

0% tax for Long term cash out under $47,025
15% tax for Long term cash out between $47,026 and $518,900
20% $518,901+
-----------------------------------------------------------------------------------
10% tax for Short term cash out under $11,600
12% tax for Short term cash out between $11,601 and $47,150
22% tax for Short term cash out between $47,151 and $100,525
24% tax for Short term cash out between $100,526 and $191,950
32% tax for Short term cash out between $191,951 and $243,725
35% tax for Short term cash out between $243,726 and $609,350
37% $609,351+

>> No.57265336

>>57265196
state taxes are between 10 and 15%.

>> No.57265376
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57265376

>>57265336
>between 10 and 15
mine is 20%...

>> No.57265383

>>57263373
>in Texas
I'm so sorry spicanon....

>> No.57265406
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57265406

>>57265069
>tips are an additional 10-20%

>> No.57265438
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57265438

>>57265336
What states taxes? As far as I now, here in florida we don't have those

>> No.57265456

>>57263359
test

>> No.57265714

>>57265438
it's priced in in other things. sales tax, cost of living, property tax, etc are usually higher.

>> No.57265731

>>57263359
YOU VILL OWN NOTHING UND BE HAPPY

>> No.57265752

>>57265383
I one of the last whites here. Feels like every one here is brown or a California transplant

>> No.57265761
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57265761

>>57263359
w-we do?

>> No.57265762

>>57265184
But then you have to hodl your shitcoins (to zero).

>> No.57265797

>>57265752
My brother moved to El Paso for 2 years for work and I'll never forget when he called us and said he was the only white guy in the whole city. It was like looking into the future of the whole country.

>> No.57265902

>>57264370
What if ur not a wagie so u don't fall into any income tax bracket. Or is income just generally for how much u make in capital gains. For example if I where to make 100k in profit would that be considered falling into a top income bracket? I live in NY so I'm hoping this is not the case

>> No.57265903

>>57264370
thats why ny and nyc are a joke

>> No.57265913

>>57265336
mine is only 5% and florida is 0%

>> No.57265920

>>57263590
i hope you learned something
red states just make wagies pay for everything?
oh you cant afford 15 acres for a family farm ag exemption? sorry wagie looks like you gotta pay 2% in property tax

>> No.57265922

>>57265902
Yes capital gains also count as income. That’s why it can go up to 50% because cashing out will automatically put you to the highest tax bracket. Just another way to keep goys from being financially secure.

>> No.57265937

>>57263576
Not all of us qualify for one

>> No.57266126

>>57263359
Show me this 'tax'

>> No.57266129

>>57263373
What’s it like living in Mexico?

>> No.57266150

>>57263359
it only affects "millionaires" dude!
of course inflation has utterly diluted this term into meaninglessness but people who shill for greater government control probably lack the IQ to figure it out

>> No.57266215

is the move to invest your money through a business and then "reinvest it" all like bezos does to write it all off and pay $0 tax

>> No.57267065

>>57263359
I had to pay 26% when I cashed out 7 figures in 2022. live in midwest

>> No.57267105

>>57264370
What is your effective income tax rate?

>> No.57267110

>>57267065
Were those 7 figure short or long term gains?

>> No.57267153

>>57267110
long term.

>> No.57267285

>>57267153
If you don't mind sharing what did you even do with that cash out? Did you just redistribute into real estate?

>> No.57267457

A 50% gains tax rate only happens when you profit off shorting a stock. Everyone here is fucking stupid.

>> No.57267499

>>57263359
I don't even know what taxes I need to pay, I also don't keep records of my trades. I just don't pay them and nobody has knocked on my door yet

>> No.57267509

>>57263556
yeah but at least you get services, I'm 45% net in New Zealand and it's a 4 hour walk to my nearest bus stop and the nearest train station is about 800km away I think

>> No.57267546

>>57267285
I actually bought a house. The thought of not having any mortgage payment and only tax and insurance was too tempting to me

>> No.57267585

>>57267546
that's the dream

>> No.57268243

>>57264370
Thank God I'm not anywhere near the top income bracket (or in NY).

>> No.57268512

imagine paying taxes
you should be actively trying not to pay taxes
>he pays taxes so his country can meddle in foreign governments, export feminism worldwide and house single mothers while oppressing (You) at every turn
lol. lmao even

>> No.57268705

is it true that NEETs don't have to pay anything on long term gains? that's what I read but the fact that there is zero talk about that makes me want to know the caveat

>> No.57268730

>>57263556
>>57263556
Sweden is 30% cgt and that is still too much. At least u can offset it with capital losses and interest payments

>> No.57268790

>>57265406
Nice I have 15% of my own money left to buy a candy bar with. Thank you zog

>> No.57269533

>>57265714
And/or crumbling infrastructure, roads with foot deep potholes, backed up flood drains, 2-4 lane highways that become massive traffic jams slapped between a massive commercial district with no room to expand. Don't ask me how I know, and of course it's all irrelevant if you are a reclusive NEET who never experiences that layer of hell anyway

>> No.57269566

I'm from Singapore and we pay zero capital gain tax on everything.

>> No.57269577

>>57264370
>makes $800k in a year
>is mad he has to pay taxes
just leave the country at that point or pay up