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The Water Cooler
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Biden wants to increase taxes on all you rich working peeps.
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<blockquote data-quote="Rez Exelon" data-source="post: 3567920" data-attributes="member: 5800"><p>So it's my understanding that capital gains is not due until the sale of an asset right? So your worksheet showing compound interest is somewhat flawed. Because all the GAINS would all be the same rate of return if invested equally, then the capital gains would be at the end assuming that you sold off all at the same time and other conditions were equal.</p><p></p><p>So lets say you made 2,000,000 in your example, according to <a href="https://smartasset.com/investing/capital-gains-tax-calculator#t95lhznBndit" target="_blank">https://smartasset.com/investing/capital-gains-tax-calculator#t95lhznBndit</a> appears that with an annual income of "0" you'd owe $535,229.</p><p></p><p>If you made, let's say, I dunno, the 10,000,000 per year max the calculator allows (<a href="https://smartasset.com/investing/capital-gains-tax-calculator#58g6MTkpoY" target="_blank">https://smartasset.com/investing/capital-gains-tax-calculator#58g6MTkpoY</a>) then it looks like $574,560.</p><p></p><p>So effectively it's 40k difference between top and bottom.</p></blockquote><p></p>
[QUOTE="Rez Exelon, post: 3567920, member: 5800"] So it's my understanding that capital gains is not due until the sale of an asset right? So your worksheet showing compound interest is somewhat flawed. Because all the GAINS would all be the same rate of return if invested equally, then the capital gains would be at the end assuming that you sold off all at the same time and other conditions were equal. So lets say you made 2,000,000 in your example, according to [URL]https://smartasset.com/investing/capital-gains-tax-calculator#t95lhznBndit[/URL] appears that with an annual income of "0" you'd owe $535,229. If you made, let's say, I dunno, the 10,000,000 per year max the calculator allows ([URL]https://smartasset.com/investing/capital-gains-tax-calculator#58g6MTkpoY[/URL]) then it looks like $574,560. So effectively it's 40k difference between top and bottom. [/QUOTE]
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The Water Cooler
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Biden wants to increase taxes on all you rich working peeps.
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