https://www.npr.org/2023/12/05/12168593 ... t-tax-code
Personally I believe this case will be a slam dunk with only the extreme of the extreme voting to uphold the tax.
The entire idea of taxing unrealized income makes no sense on any level.
Glad it is coming before our current moderate court instead of one with 5 liberals as opposed to just 3.
Unrealized income tax case
Unrealized income tax case
" I am a socialist " Bernie Sanders
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Re: Unrealized income tax case
This case is not quite that simple. It’s not like unrealized gains from in your stock portfolio. This goes more to the earnings from a business where you are part of ownership and where you have some degree of control. It is similar to how we view taxation on partnerships and LLC’s where the investor actively participates. In that case, the business is more of a pass thru for tax purposes. I would agree with former speaker Ryan’s position on this.Glennfs wrote: ↑Tue Dec 05, 2023 7:22 am https://www.npr.org/2023/12/05/12168593 ... t-tax-code
Personally I believe this case will be a slam dunk with only the extreme of the extreme voting to uphold the tax.
The entire idea of taxing unrealized income makes no sense on any level.
Glad it is coming before our current moderate court instead of one with 5 liberals as opposed to just 3.
Re: Unrealized income tax case
I wonder if this case would open the door for democrats taxing unrealized gains in a person's personal wealth.JoeMemphis wrote: ↑Tue Dec 05, 2023 10:32 am This case is not quite that simple. It’s not like unrealized gains from in your stock portfolio. This goes more to the earnings from a business where you are part of ownership and where you have some degree of control. It is similar to how we view taxation on partnerships and LLC’s where the investor actively participates. In that case, the business is more of a pass thru for tax purposes. I would agree with former speaker Ryan’s position on this.
" I am a socialist " Bernie Sanders
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- Posts: 1630
- Joined: Mon Oct 16, 2023 5:39 pm
Re: Unrealized income tax case
I don’t think so. The law has been on the books for a few years and there currently isn’t any real support for taxing unrealized gains. This is not a case of unrealized gains. It’s a case of pass thru income.