Did I say mandatory? I meant optional! You’re “free” to die in a cardboard box under a freeway as a market capitalist scarecrow warning to the other ants so they keep showing up to make us more!

  • partial_accumen@lemmy.worldEnglish
    52·
    13 小时前

    I don’t agree with unrealized gains taxes in general, but the instant they are used as collateral, or if value in any way is extracted from them (even loan value), they become realized gains, and should be taxed.

    What you’re suggesting would also mean you’re advocating for middle class homeowners to be taxed on a full value of a Home Equity Line of Credit (HELOC) even if they haven’t spent a dime of it yet. Was that your intention?

    • julietOscarEcho@sh.itjust.worksEnglish
      1·
      1 小时前

      They didn’t set out their whole tax platform for their presidential bid friend. We can trivially blow down your straw man with a primary residence exemption or, you know, tax brackets.

      • partial_accumen@lemmy.worldEnglish
        3·
        13 小时前

        I believe you’re referring to rules on sale of a home where there is a capital gain, meaning you bought the house for $100k and sell it for $350k, no cap gains taxes. We’re in uncharted waters with what @bastion@feddit.nl is proposing. That user (possibly) suggesting it for HELOCs too.

        • hesusingthespiritbomb@lemmy.worldEnglish
          2·
          6 小时前

          Okay but you can just apply the same logic to a HELOC. If you get a 30k HELOC for a bedroom renovation then it does not count towards capital gains tax.

          Even normal capital gains taxes have brackets.

          • partial_accumen@lemmy.worldEnglish
            1·
            3 小时前

            Okay but you can just apply the same logic to a HELOC. If you get a 30k HELOC for a bedroom renovation then it does not count towards capital gains tax.

            Wouldn’t this be a double standard if we’re applying @bastion@feddit.nl 's logic? The rich would get taxed on loaned money but the middle class wouldn’t?

            • julietOscarEcho@sh.itjust.worksEnglish
              1·
              1 小时前

              This is how… EVERYTHING works… Income tax brackets, 401k limits. I thought this was pretty obvious, from each according their ability and all.

            • hesusingthespiritbomb@lemmy.worldEnglish
              3·
              2 小时前

              That’s generally how progressive tax brackets work, yes. Technically speaking if I rich person wants to take out a 30k HELOC they’d also not get taxed on it.