You bought 100 shares of Zoom stock in Jan 2020 for $75 per share
Ends year at $350 per share but you didn’t sell giving you an unrealized gain $27.5k
Under Kamala’s plan you owe $6,875 in taxes (25% of $27.5k)
But you didn’t sell so you don’t have the cash. you pay taxes out of savings
You continue to hold until August 2024. Finally sell for $60 per share
You LOST $1,500 on the stock PLUS you paid the taxes on the $27.5k of “gains” you never actually received since they evaporated
The initial tax proposal is only targeting $100M+ but that’s just the start. It opens the gates to lower the threshold whenever they choose
Before you know it every person who owns a stock is paying this tax
People stop buying stocks. Companies have less capital to invest into new products and develop technology
Economy tanks. Jobs lost
What a joyful future
A lot of American workers have done well via their companies stock option plans, what happens to them? Taxed on the options as they rise in value?
I came across a buy who was a cleaner at Microsoft, he was a millionaire from his options and that was 20 odd years ago. They do not want you to be independent, they want you to be dependent.
Hence they demonize crypto because they cannot control. Yes, they want you dependent and be serfs