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I don't disagree with you, but I'd like to see a high threshold for this tax to take effect. I'm a small time investor who is trying to take the money I've put
by influx 9y ago
I don't disagree with you, but I'd like to see a high threshold for this tax to take effect. I'm a small time investor who is trying to take the money I've put in the market and put it towards starting up a business.
I've used my personal income which was already taxed at the state and federal level, put it into the market at my own risk, and then gets taxed again when I get gains on it. Now, because Bill Gates and Warren Buffet aren't getting taxed enough, you're hurting the small time folks.
You're creating a moat whereby the small time folks can never escape, and the folks who have already made it won't be hurt.
- nemo44x 9y agoIndeed and why I said that the "standard deduction" should be higher than labor. This means people who do not use the markets as a primary source of income but rather as a tool to go from no wealth to acquiring wealth aren't paying taxes on it for reasons you've stated. Or a minimal tax. But once you've become a successful investor over the years and have acquired more and more wealth your dividends are starting to get taxed higher and your proceeds which are now comparable to an income or possibly a primary income are becoming taxed. Because of compound interest and appreciation of capital assets you're being taxed on your new wealth.
- Avshalom 9y agoHave you considered a small business loan?
- nodamage 9y ago> I've used my personal income which was already taxed at the state and federal level, put it into the market at my own risk, and then gets taxed again when I get gains on it. Except the money you originally put in is not taxed again. Only the gains are. I don't see a compelling argument as to why your gains should also be tax free.