"The contrast between Harris and Trump on taxation could not be more clear," said the executive director of the Institute on Taxation and Economic Policy.
If a person was to get taxed against the value of stocks every year and that person holds onto those stocks for multiple years, they’re getting taxed multiple times for that same value. The idea of taxing unrealized gains is probably the most ignorant thing to ever come out of her mouth.
Just like real estate tax? If a portfolio can be used as collateral then it should be taxed. The percentage at which it should be taxed is open for conversation but keep in mind there are people holding billions in assets like this.
Edit: this is also an easy way to exclude stuff like Roth ira’s and other retirement plans. Just don’t allow them to be leveraged/used as collateral… If this was at all possible. This protects normal pension savings etc.
Can’t tax income they don’t have
Your house is taxed… why are stock portfolios not taxed each year against their value on Jan 1st? Or median value over the year or something?
If a person was to get taxed against the value of stocks every year and that person holds onto those stocks for multiple years, they’re getting taxed multiple times for that same value. The idea of taxing unrealized gains is probably the most ignorant thing to ever come out of her mouth.
Just like real estate tax? If a portfolio can be used as collateral then it should be taxed. The percentage at which it should be taxed is open for conversation but keep in mind there are people holding billions in assets like this.
Edit: this is also an easy way to exclude stuff like Roth ira’s and other retirement plans. Just don’t allow them to be leveraged/used as collateral… If this was at all possible. This protects normal pension savings etc.