acesfull86 (04-22-2021), Jaw (04-22-2021)
Biden is apparently proposing a large capital gains tax hike. I gotta give it to him, at least he's trying to offset the candy he's handing out.
I support his capital gains tax increase proposal.
Go get him!
Founding member of the Whiny Little Bitches and Pricks Club
Jaw (04-22-2021)
Even though raising it results in less tax revenue?
Jaw (04-22-2021)
Seriously
Irony is dead
And these ****s keep beating it
"For there is always light, if only we are brave enough to see it. If only we are brave enough to be it." Amanda Gorman
"When Fascism comes to America, it will be wrapped in the flag and carrying a cross"
https://taxfoundation.org/why-capita...ed-lower-rate/Not only has a low capital gains tax rate worked to encourage savings and increase economic growth, a low capital gains rate has historically raised more in tax revenue. At a 2010 talk at the Cato Institute Dr. Daniel J. Mitchell and Dr. Richard W. Rahn argued that the government has actually raised more revenue with a lower long term capital gains tax rate than a higher rate. For example, in 2007 the IRS raised $122 billion with a 15% tax rate as opposed to $7.8 billion in 1977 ($26.7 billion in 2007 dollars) with a 40% tax rate. In fact, when President Bush signed into law a cut in the top rate from 20% to 15%, revenue increased from $51.3 billion in 2003 to $137.1 billion in 2007 (although it fell significantly after the 2008 financial crisis, understandably).
And this was a classic answer from the big BO
"I can't fix my life, but I can fix the world" said the socialist
Wouldn’t it make sense that 2007 saw more gains as it was a historic run up of the market until the sub prime crash? People will naturally take gains. The specific period of 1977 was also as the market was almost at a low point on a cycle.
In my humble opinion I don’t think the comparison of those two periods holds relevancy to the argument as to whether we should or shouldn’t raise long term capital gains tax.
Natural Immunity Croc
If the capital gains tax raised was raised in a multi-step process, we might be able to generate an ACCELERATION in realizations. People would have an incentive to realize the gains before the second step of the increase takes effect.
We could also see an acceleration of realizations this year if the the tax rate was raised in 2022. I'm pretty sure that would happen given the gains people are sitting on.
In 1986 investors sold twice as many securities as expected in anticipation of higher rates that took effect the following year.
Last edited by nsacpi; 04-22-2021 at 02:29 PM.
"I am a victim, I will tell you. I am a victim."
"I am your retribution."