Top Democrat's proposed tax on unrealized capital gains would be devastating for financial markets

[Handle123]

Wyden, the idiot who proposed this, represents the state of Oregon (although he lives in New York). Oregon has a really high state income tax. A lot of people invest while in Oregon and then wait until after moving out of the state to sell, thereby escaping the state income tax on capital gains...he's probably trying to go after that money.

Does Oregon still have no sales tax?

 

[ET180]

Does Oregon still have no sales tax?

Yes, no sales tax here. Best combination is to live in Vancouver, Washington on the Oregon border...no state income tax from Washington, then go to Oregon to buy stuff.

 

[schweiz]

Yes, no sales tax here. Best combination is to live in Vancouver, Washington on the Oregon border...no state income tax from Washington, then go to Oregon to buy stuff.

There are 3 areas that you should compare and take the cheapest solution.

 

[neke]

Dementia on the rise.
https://www.cnbc.com/2019/04/03/top...ins-tax-would-be-devastating-for-markets.html

I actually like a form of this tax. Why do I have to pay tax because I turned over my investment from MSFT to CSCO, while Bill Gates keeps compounding his in MSFT for 30+ years? Does anyone not understand the impact compounding tax-free could have done for me?

 

[Cuddles]

 

[ET180]

There are 3 areas that you should compare and take the cheapest solution.

View attachment 200085

Valid point, I just assumed one would want to be near a large / medium-sized city. Somewhere near Spokane, Washington could be good too...never been there.

 

[ET180]

I actually like a form of this tax. Why do I have to pay tax because I turned over my investment from MSFT to CSCO, while Bill Gates keeps compounding his in MSFT for 30+ years? Does anyone not understand the impact compounding tax-free could have done for me?

There's nothing stopping you from compounding tax free for 30+ years like Gates or anyone else.

 

[MarketDiver]

I actually like a form of this tax. Why do I have to pay tax because I turned over my investment from MSFT to CSCO, while Bill Gates keeps compounding his in MSFT for 30+ years? Does anyone not understand the impact compounding tax-free could have done for me?

Nobody is stopping you mate, it's a free country.

 

[kandlekid]

Fine. If you tax unrealized gains, then we can deduct unrealized losses. Fair?

 

[schweiz]

Does anyone not understand the impact compounding tax-free could have done for me?

Yes, most people on ET don't fully understand the effect and how to use compounding, more specific in trading, but probably also in taxation. Taxation also influences your net returns.