Quote:
Originally Posted by Winsor_Pilates
A lot to read in there, but seems they're mostly talking about unrealized gains made on investments (stocks) to evaluate wealth.
True enough, but taxing based on unsold values of investments is a whole discussion in itself.
Also they mention the maximum capital gains tax rate in the US is 20%.
I wasn't aware it was so low. That certainly benefits people making investment income vs employee income.
Big advantage for the rich here as your average joe can't even pay their bills, let alone get into investments and capital gains.
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The US has both short term and long term capital gains. Short term is anything held less than a year and is taxed at 40%... Long term is anything held for more than a year and yes, is taxed at 20%.
Lots of shenanigans employed when it comes to unloading assets
near the 12 month mark...