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- Jun 13, 2012
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Really depends on your strategy. The average holding time is less then a year so falls outside of a long term capital gains tax. Most people that this is targeting have the financial means to hold for a very long time.
I disagree that it would be a hard sell. The capital gains tax is constantly changing.
https://taxfoundation.org/biden-capital-gains-tax-rate-historical/
There's an image in there detailing the changes. Plus as seen on here it's hit or miss whether or not people are in favor of it and even less people that actually understand it.
You've said how it wouldn't hurt the markets which I agreed with but you haven't pointed out how this would increase revenue. As I pointed out this will lead to increased holding which in turn leads to less revenue. I think I've also brought up some decent points about how this will influence business owners.
Also thanks for the debate. Fun to discuss this with someone that understands what they are talking about.
Agreed, good chat.
I don't think it will materially affect business owners, I just don't see it.
As to revenue, I don't think it will increase business revenue but it will lift government revenue. Further it will government revenue in a way that will have vastly less implications on the economy than any other measure that could raise such an amount.
Terrible source though, I know you were just pointing to the variability in historical cgt rates but what a horrible article.
I'd suggest the below as a more honest title
Biden’s Proposed Capital Gains Tax Rate Would be Highest for Many (0.3% of households) in a Century (101 years, if you exclude the times when it was higher).