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Economy/Business / Re: Biden Calls for Record-High Tax Rate, Just a Few Points Shy of 50%
« Last post by banddag on Today at 03:48:00 am »Are you capable of thinking for yourself?
For example, let's say you pay $100k for a house. Next year, the government appraises the value of your house at $110k. So according to ProPublica, you should have to pay taxes on that $10k increase even though you did not see a dime of it.
Show me in the tax code where you have to pay capital gains on a house that goes up in value that you are living in and not selling. I own apartments and office buildings. Never had to pay capital gains of course never sold them either..yet. .
Yeah, I have a great tax accountant and might not know everything but I know Billionaires are not paying 40%. I showed how Musk and Bezos are doing it through borrowing from stock as one example.
You only pay the capital gains tax after you sell an asset. Let's say you bought your home 2 years ago and it's increased in value by $10,000. You don't need to pay the tax until you sell the home.
Capital Gains Tax On Real Estate And Home Sales: A Guide
Yes, I think for myself. I figured out .long ago listening from the doom and gloom from the rw fear porn mongers is 99% utter bullshit. Forbes today said the 44% biden tax proposal is a nothing burger.