Edit: I misread, I though it was saying “if you aren’t rich with stock you aren’t going to be F-ed in the A by an unrealized gains tax” but it was actually saying “If you’re not rich with stocks then you’re currently being F-ed in the A by our tax system”
If a hypothetical unrealized gains taxed passed today then there is a chance of poor people getting F-ed in the A, especially people with retirement funds or Vanguard share/portfolios. There is even a chance it hurts the poorer 80% more than the richer 20%.
The 2016 Tax Reform is a great example of that, it got tons of support from poor people and middle class and in the end it fucked them all in the A.
Depends on the structure. If it’s 3% on value over 5 million, then the bottom 95% will not even have a dent. If it is paid by even average retirement funds, but funds more expensive Medicaid or your kids college education, you still win. It all depends on the details.
I suppose there might be some sell off to cover the tax bills if the wealthy, but it probably wouldn’t shake the markets too much.
Edit: I misread, I though it was saying “if you aren’t rich with stock you aren’t going to be F-ed in the A by an unrealized gains tax” but it was actually saying “If you’re not rich with stocks then you’re currently being F-ed in the A by our tax system”
If a hypothetical unrealized gains taxed passed today then there is a chance of poor people getting F-ed in the A, especially people with retirement funds or Vanguard share/portfolios. There is even a chance it hurts the poorer 80% more than the richer 20%.
The 2016 Tax Reform is a great example of that, it got tons of support from poor people and middle class and in the end it fucked them all in the A.
Depends on the structure. If it’s 3% on value over 5 million, then the bottom 95% will not even have a dent. If it is paid by even average retirement funds, but funds more expensive Medicaid or your kids college education, you still win. It all depends on the details.
I suppose there might be some sell off to cover the tax bills if the wealthy, but it probably wouldn’t shake the markets too much.