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Spoken like someone who has no clue about investments. Anyone working contributing to a 401k or like me a 403B would get hit with that 45% capital gains tax once we cash in on investments. You know as middle class people do when they retire. How does anyone think that the government taking half of the money you earned with your investments is fair?
Would you be withdrawing over $1million in a single year?
Spoken like someone who has no clue about investments. Anyone working contributing to a 401k or like me a 403B would get hit with that 45% capital gains tax once we cash in on investments. You know as middle class people do when they retire. How does anyone think that the government taking half of the money you earned with your investments is fair?
The reality is that you have no clue about the taxation of investments. Funds withdrawn from a pre-tax/traditional 401k or 403b are subject to ordinary income tax rates, not capital gains taxes. For most taxpayers those marginal rates are currently 24% or less.
How you know that people don't understand how businesses operate.
Businesses will lose money for a variety of reasons, the main one being they can't sell their products for what it costs to produce them. Those costs include taxes.
Every single input cost is factored into the price of a product.
Business taxes are a pass-through.
As a note, "rent seeking" as a pejorative goes back to Marx. Karl, not Groucho.
Not that I'm saying that many of you, as well as some elected officials and bureaucrats who formulate these proposals, are neo-Marxists.
As expected what I said went over your head. Yes, the additional cost could be passed through, but at times it will have to be eaten because the market will not support the increase. Or new efficiencies will be introduced that would help with some of the other costs, etc.
Explain this: how is it possible that Tesla just dropped their prices. Nothing got cheaper, how were they able to lower the price?
The reality is that you have no clue about the taxation of investments. Funds withdrawn from a pre-tax/traditional 401k or 403b are subject to ordinary income tax rates, not capital gains taxes. For most taxpayers those marginal rates are currently 24% or less.
What you pay for company stock minus the current value will be what is taxed as capital gains instead of ordinary income when it's distributed from a qualifying employee retirement plan.
What you pay for company stock minus the current value will be what is taxed as capital gains instead of ordinary income when it's distributed from a qualifying employee retirement plan. The 2023 top tax bracket (based on adjusted gross income) on 401ks 37% on single filers making over 578000. The article linked didn't state if that 44.6% capital gains would be applied across the board.
Exactly. Remember the Federal AMT (Alternative Minimum Tax) that was only supposed to impact the rich? Well guess what? According to the 2024 AMT brackets, any working couple with an income over $126,500 hits the 26% AMT tax rate.
Hate to break it to you, but there is no AMT if the tentative minimum is lower than the regular tax.
P.S. Not that it matters much here but the exemptions have increased for 2024
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Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Anyone working contributing to a 401k or like me a 403B would get hit with that 45% capital gains tax once we cash in on investments. You know as middle class people do when they retire. How does anyone think that the government taking half of the money you earned with your investments is fair?
