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Actual nonsense coming out of this government. As a life-long resident one of the main reasons I continue to work in Washington is the lack of an income tax. E
by bruiseralmighty 5y ago
Actual nonsense coming out of this government. As a life-long resident one of the main reasons I continue to work in Washington is the lack of an income tax.
Exempting real estate is just an extra middle-finger to anyone young and trying to save.
This is so painful and short-sighted. Earmarking for education is yet another typical smoke and mirrors 'saint-hood' performance that this government puts on for its low-info voter base.
If all of that money can still be proven to be going towards childhood education by 2023, I'll deep-fry my socks and eat them. Hopefully we can get a State Supreme Court judge to knock this down as unconstitutional.
- triceratops 5y ago> anyone young and trying to save It says the first $250k is exempt. Not a lot of young savers pulling down $250k in cap gains annually.
- qshaman 5y agoThat was the FAANG stocks doing the thinking
- lostmsu 5y agoI don't think FAANG young engineers earn $250k cap gains a year.
- qshaman 5y agohttps://www.levels.fyi/ https://www.levels.fyi/
- lostmsu 5y agoThis is total income, not cap gains man.
- loeg 5y agoRSUs are ordinary income, not capital gains.
- efficax 5y agoRSUs are taxed as ordinary income but when they vest they become (usually) class A shares. The sale of those shares will incur capital gains taxes, if there is a gain.
- loeg 5y agoSale at time of vest would have zero or likely negligible capital gain/loss, and then it's the same as any other income. Yes, if you hold the shares (much like buying any other stock with your income), and it appreciates, you would have capital gains. Re levels.fyi, the compensation figures are just time of vest.
- triceratops 5y agoSo sell just enough to stay under the $250k/year in cap gains. I'm still not seeing a problem here.
- deleted 5y ago[deleted]
- jpatel89 5y agoManaging real estate is a magnitude more difficult than managing 100 shares of Tesla or maintaining a website. Let’s agree that value creation should not be the target of taxes. Sin or consumption on the otherhand would be more rational. Can someone enlighten me on the case for taxing value creation and not value consumption?