Could Trump do anything to make you stop supporting him?

Ted you are just an idiot who knows only one thing -- the Left, the Democrats, and Communist Harris are all just so wonderful, but Donald Trump is not. Now Putin is praising Harris to high heaven, and wants her to win. What does that tell you? If evil Putin supports an evil candidate, that should be a red flag. Why does he fear Trump being in office?

Do you know anything about business? The high net-worth individuals have worked hard for their profits. Not for some Communist regime to come along and steal their money. Unrealized capital gains are just that- they have never been declared. They exist only on paper. A fair tax on actual declared capital gains is acceptable, but the theft from unrealized capital gains is not. And all taxation in North America is unfair.

How is it that you showed up on CC just at the time when Christians are exposing the lies of phony Kamala and criminal Biden? Did she send you here as her plant? I trust no one is swayed by your posts.

Hey @Nehemiah6

Man, my mom's going to be disappointed. 69 years of life and I only know one thing.

Well, there you go.

I'm sure it's a conspiracy with entrails into the highest level of world leadership. That's me.

LOL Sometimes I can hardly put these messages out 'cause I'm laughing so hard at such unwise foolishness. All taxation in North America... I mean that covers Canada and Mexico, too.

But as I sit here laughing at such wild responses, I still encourage everyone to vote wisely.

First of all "unrealized capital gains" is not "over a year", nor is the requirement that they earn that much in a year. The requirement she has set is that their net worth is that much, which would include very many of our businesses. Every Fortune 500 company is worth way more than that. So every business that anyone is familiar with would be impacted. Then "unrealized capital gains" simply means you bought something at one price and you still own it while it's price has risen. In a situation of inflation like the US has had for the last 50 years the price of everything has risen. So pretty much every asset you own will have an unrealized capital gain.

For example, the total value of JP Morgan Chase stock is 619 billion. Some of that stock has been traded recently and so no unrealized capital gains. But it is very likely that 300 billion worth has not been traded for a very long time. This means the US government could hit the owners of that stock with $75 billion in tax bill. They would have no way to pay it but to sell the stock which would cause the value of the stock to plunge and the bank would have to sell assets. If this was only Chase that needed to worry, not a crisis. But Wells Fargo, BOA and all the other major banks in the country would be affected as well.

Now let's take the typical retirement saving account of 300k. It is highly likely that every single investment in this account will be seriously impacted. So even though this person is not worth 100 million, all their investments are and so you might see the value on this account drop by 100k.

Then once you have a law that says you can tax unrealized capital gains it is a simple matter to say that it is not fair to simply tax those worth 100 million, the tax should apply to everyone. At first they would probably change this from 100 million to 10 million and then to 1 million. That would hit every small business owner in the country. If someone bought a house for 300k and now it is valued at 500k they would have a 40k tax bill to pay. So then the housing market would collapse, etc. If someone bought a restaurant for 500k and now it is valued at 2.5 million they would now have a 500k tax bill.

I trust that the philosophy and mandate of these newbie posters is evident to all by now.
Totalitarian Marxist and Maoist dogma and philosophy is apparent in every post.

And man, do they hate capitalism, self-sufficiency, independence, personal empowerment, Constitutional rights protected by law and truth.

And man, do they love the big government tin cup welfare state, political persecution, censorship, weaponized government agencies, and lies.

Forced deleveraging and margin calls would detonate the quadrillions of swaps and derivatives.

Bye bye America pie.

Consequently, these useful idiot Maoists would see their ration of rice reduced from one bowl a day to a tablespoon.
Kamalatov would be amused by their anguish.

"That Has To Stop": Harris Denounces Unfettered Free Speech In 2019 CNN Interview

...unregulated free speech “has to stop” and that there is a danger to the country when people are allowed to “directly speak... to millions and millions of people without any level of oversight and regulation.”

https://jonathanturley.org/2024/09/...unfettered-free-speech-in-2019-cnn-interview/

Which of course is why they call her Kamalatov.

Yes, those who use margin and derivatives are generally trading in and out so there is no unrealized capital gain, but if you saw a 25% drop in the stock market it would destroy everyone who is on margin.

Hey @ZNP

It would be if it's a tax that is a part of one's annual tax filings. You see, you're thinking, "Oh yea, I bought some stock 15 years ago and now it's worth way more than when I bought it. But IF the Congress decides to do this unrealized gain as a part of one's annual taxes, then the gain would be what has grown in just the last taxable year. We'll have to wait and see exactly how the tax is set up, and of course, tax changes, while the sitting president may want to install some new tax scheme, have to be approved by Congress.

The value of a company is not considered in one's personal income tax calculation. It's the net worth of the individual person who is filing their tax return. So, it wouldn't matter that Bill Gates is CEO of a company worth a bazillion dollars. Whether or not he would be subject to any unrealized capital gains would be based on his personal net worth.

I don't think that's how this tax is going to work. Think it through. We're talking about 1040 returns. Individual tax returns. It doesn't matter that JP Morgan Chase, t he company, is worth $619 billion. It would matter what Jamie Dimon's net worth was in the year that he filed a return. If his personal net worth is over $100 million, then he would have to report as taxable income any unrealized capital gains that he personally, not all the stock of Chase and company, was reported on the 1099's that he would get from his holdings.

I don't believe that your example is a true representation of how this tax would work, if it is adopted by Congress. But the president does not have the authority, under the Constitution, to just go out and say, "I'm going to enforce a new tax.

The Constitution gives Congress the power to levy taxes for the collection of revenue. Article 1 Section 8 of the Constitution reads, "The Congress shall have Power to lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States."

So, whether or not the tax plan is good idea, will have to be determined by our Congress.

See, even you have to correct those in error on these threads. And yes, margin trading has always been fraught with danger. Especially in days when the markets suffer huge drops like 25%.

I remember there was a margin trader in Miami who went into his broker's office and killed some employees in the office because they were asking him to pay his margin bill that he couldn't afford because he made some bad choices.

Stock Market Loser Kills Brokerage Manager, Self in Shooting Rampage - Los Angeles Times (latimes.com)

Margin trading can leave one owing a lot of money when the market sours. And it does! I mean that's just a fact of life of the system.

Capital gains tax is not income tax. Please the more you talk the more ridiculous you sound.

The first year of this "tax" would be catastrophic. It would cause the collapse of the stock market and bond market and bankrupt everyone. As a result everyone would have unrealized capital losses. Is the government going to reimburse people for unrealized capital losses? No. Because this is simply theft.

I wasn't correcting him, he was correct. The entire market for both stocks, bonds, and derivatives is all interconnected. You pull out this one piece and the whole thing collapses. However, to fully explain that would take much more than I would wish to be bothered explaining. They do a good job of explaining it in the movie "The Big Short".

Let's consider this, you can't calculate your "unrealized capital gains" until the end of the tax period, let's say December 31st for this example. During the month of January they realize they have huge tax bills. We aren't talking about "pikers" the small fish, but the whales. So now they must sell assets to pay that bill. However, this triggers a collapse of the market. So what was a $10 million unrealized capital gain is now a $5 million unrealized capital loss. So what do you do? All of these "whales" can afford the best tax attorneys around. They will file extensions and go to court claiming rightfully that it is not an unrealized capital gain now that the market has collapsed.

This is a "Democratic Kitten" they are selling and only Democrats would be foolish enough to buy it. All you need to do is wait two weeks and those "Democratic kittens" will now be "republican kittens" when their eyes open up. They are not going after billionaires, they are making good on their word that you will own nothing and be happy, or else.

Looks like the Marxists just got another "F" in capitalism huh?
Bloody hilarious man.

@amuse on X: "Each day a new troubling revelation about Tim Walz is exposed. The latest is that he helped secure funding for SARS-CoV-2 funding at the Wuhan Lab. @gekaminsky an investigative reporter for the Washington Examiner is reporting that Tim Walz has long promoted a Minnesota-based https://t.co/i7ECly5zgt" / X

Comrade @cv5, I’m not sure. We should summon Dear Leader to sort this out.

Saw someone point out today that of all the former Republican Presidents, Presidential candidates, Vice Presidents, and VP candidates who have issued public endorsements for President, only one has endorsed Trump.

And that's Sarah Palin.

All the rest have either specifically said they will not endorse or vote for Trump, or haven't said anything.

This is completely unprecedented in my lifetime. I've never seen so many officials, leaders, etc. from a party refuse to endorse that party's nominee. I've never seen so many former staffers, including the former Vice President, refuse to endorse the person they used to work for.

Hopefully after Trump loses, those people will get to work restoring the GOP to reality.

Of course you are not. Are you still awaiting further instructions from your handler?

Liz Cheney
@Liz_Cheney

Kamala Harris is a radical liberal who would raise taxes, take away guns & health insurance, and explode the size and power of the federal gov’t. She wants to recreate America in the image of what’s happening on the streets of Portland & Seattle. We won’t give her the chance.

6:17 PM · Aug 11, 2020

===================================================================

Simon Ateba on X: "BREAKING: Former Republican Vice President Dick Cheney Declares Donald Trump "The Greatest Threat to America in 248 Years," Announces Support for Kamala Harris. “In our nation’s 248-year history, there has never been an individual who is a greater threat to our republic than https://t.co/sRjyR077Ra" / X

Should be good for another couple of points for Trump come election day.
The good people of Wyoming ran her out of town on a rail.
Good riddance.

Irrefutably TRUE.....

Vivek Ramaswamy on X: "Every time they’ve alleged “pro-Trump Russian election interference,” it’s actually been Democrat-led U.S. election interference laundered through allegations against Russia. The Steele Dossier in 2016. The Hunter Biden laptop in 2020. So now when we hear Biden’s DOJ prosecute https://t.co/zmVWDEilLs" / X

Indeed it is.....

Elon Musk on X: "Accurate analysis by @Naval" / X

@Naval
Ravikant says the Democrat Party's lawfare against President Trump is "disgusting behavior" that could "end the Republic" and lead to a "one-party state better known as a dictatorship."

"If you look at the charges brought against Trump, and I actually read them quite carefully. These were really Trumped-up charges. They were really made up. You violate the statute of limitations. You try to drum things up into a felony when there was no evidence of such. It was a miscategorization of business expenses. It's this selective prosecution."

"If you want the case against Kamala Harris, it's the fact that she was the DA of San Francisco, and San Francisco is a mess. And, in fact, after she advocated for George Gascon, the guy who is destroying LA by basically not prosecuting criminals and going after business owners. This selective prosecution thing is a disaster."

"The moment you start breaking down this wall, you get into weaponizing justice. You know, Hillary Clinton blew up her email server and then wiped it with bleach bit. There are no consequences for that. Turns out the Hunter Biden laptop is real. Who knew? Even though we were told, it was all misinformation by the intel agencies. This is the scary stuff. This is the stuff that ends the Republic or turns it into a one-party state, better known as a dictatorship."

"The weaponization of the justice system and the engagement and willingness to engage in lawfare will lead to violence, disillusionment, a breakup, and something worse for the United States. When these guys start playing with going after their political enemies."

"When Alvin Bragg runs on the explicit campaign to take down Trump and then they go hunting through and looking for anything and drumming up any charge to go after him with the most favorable juries in the most favorable part of the country and then just control the evidence and control the narrative that is the beginning of the end. And the people who are in Silicon Valley and the donors who are supporting this lawfare, they're dead to me. These people are destroying the ground on which they stand."