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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="SlugSlinger" data-source="post: 3567936" data-attributes="member: 7248"><p>Stop using the crazy numbers. lol</p><p></p><p>This example looks like the current long term capital gains tax rate or around 20%, double that and if you made $2,000,000 you'll be taxed at around $1,000,000. Short term is different, I believe treated as ordinary income.</p><p></p><p>The issue is taxes will be paid on the gains when they are recognized. If you trade stocks, you will be taxed with every trade, even if reinvesting your earnings. Value and purchasing power will be lost with every trade by the amount of the tax. It is uncommon to see higher investment return rates with one stock investment, although companies like Amazon have been a good ride. Most people will trade stocks not just sit in one. Unless they invest in a mutual fund and just ride it out, which is probably the best way to invest for most people.</p><p></p><p>Something like an S&P index fund.</p><p></p><p>[ATTACH=full]203405[/ATTACH]</p><p></p><p>Capital gains on real estate is different. I am not sure what the limits are, but if you trade houses you live in and make money each time, you can roll your earnings into the next house and not owe taxes immediately. That makes real estate more tax advantageous that the stock market.</p></blockquote><p></p>
[QUOTE="SlugSlinger, post: 3567936, member: 7248"] Stop using the crazy numbers. lol This example looks like the current long term capital gains tax rate or around 20%, double that and if you made $2,000,000 you'll be taxed at around $1,000,000. Short term is different, I believe treated as ordinary income. The issue is taxes will be paid on the gains when they are recognized. If you trade stocks, you will be taxed with every trade, even if reinvesting your earnings. Value and purchasing power will be lost with every trade by the amount of the tax. It is uncommon to see higher investment return rates with one stock investment, although companies like Amazon have been a good ride. Most people will trade stocks not just sit in one. Unless they invest in a mutual fund and just ride it out, which is probably the best way to invest for most people. Something like an S&P index fund. [ATTACH=full]203405[/ATTACH] Capital gains on real estate is different. I am not sure what the limits are, but if you trade houses you live in and make money each time, you can roll your earnings into the next house and not owe taxes immediately. That makes real estate more tax advantageous that the stock market. [/QUOTE]
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