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
I have very little of value to add to the Board, but enjoy reading. When it comes to taxes, however . . . there just are not a lot of people that will have a higher understanding of the Internal Revenue Code and tax concepts. So literally, for the first time ever, I was able to add some value here.
Politicians have created the mess in the tax Code that we deal with today. I am a firm believer that no one should meddle with the Code unless they understand taxes. Oh well, we have so many other problems that need fixing. But I just want to spend 3 min. with Trump and request that he please start appointing Federal judges that understand taxes. Bush started appointing people that did not understand taxes, and here we are 20 years later with a dysfunctional judiciary from top to bottom when it comes to anything related to taxes, finance, or business.
Thank you. You could write him. He does respond.
Much better connected people than I should provide that information to Trump.
I do think he has someone that responds for him, but I do not think for a minute that the person on the other side of the internet is presenting general population ideas to Trump.
I fall more into the category if I have what I think is a great idea, then a few thousand other better connected individuals are most likely having it at the same time, and someone is going to get that idea to a well-connected individual who can make a good decision.
I love your optimism, though!
I am serious. Write to him. I have seen people getting respond letters on X from him. Not just one person. Quite a few in fact.
You have something of value. Write to him.