Rep. Ro Khanna on taxing unrealized capital gains
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- Опубликовано: 18 сен 2024
- Rep. Ro Khanna (D-Calif.) joins 'Squawk Box' to discuss whether unrealized capital gains should be taxed, why he believes a blanket tax on unrealized gains is not good, and more.
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When i have unrealized loss, will govt give me back money?
Do you pay property taxes
No it doesn’t work that way
Nope they just take.
Yes, actually. It's called deficit spending and corporate welfare
No they just take your money and then THEY borrow against it .
How many unrealized children can I claim on my tax return?
😂 good one
LOL! That's a good one. Good point.
I’ll pay the tax bill that results with some of that unrealized income.
😂
Good question.
it's insane to tax unrealized gains unless you can get a loss on unrealized losses
I can’t believe that American went this far left with the stupid idea of unrealized capital gains tax.
welfare people love redistributing money from savers to losers.
I pay property taxes on my unrealized real estate gains.
@@gngr2yea, how does that feel? 😂
@@limitlesswinning984 fine. Suddenly they do it to rich people and it's a problem 🙄🙄🙄
I'm literally a socialist (abolish private capital in favor of worker and consumer cooperatives), and even I think it's a bad idea!
Property taxes are like this. Your property tax should be fixed at the purchase price. Just because the market value may go up, shouldn't mean you get taxed at a higher rate. We don't realize the market value, but we're going to pay the higher tax for it? How did we even let this happen?
VOTE RED!!!!!
Guess you never heard of prop 13
In my state they have a cap on property tax increases exactly because of this. And some politicians are still complaining about it.
Prop 13 was also created because Tax Assessors were bribed by home owners to lower the tax values. So historical purchased values were used instead.
@@thedoog0106 Prop 13 is in California. So he may have never heard of it before.
Let's tax the governments unrealized gains.
Let's see Paul Allen's unrealized gains
Their gains are taxed multiple times before they “get” it.
Our government’s money comes solely from us.
They must be using lots of lube, because nobody seems to mind…
The US government is running a massive deficit, that is a loss. They haven't made any gains for decades.
@@generalinformation4386 I don't think you understand what unrealized gains means.
@@user-gi2gg5tr8g I am rather sure that I do but go ahead, explain it for us. Kamala certainly cannot.
Govt needs more tax money to fund more open borders and funding more endless wars.
People like you are the reason they have a reason to point and call the other side racist.
“Fund open borders”…get new talking points.
Only in america, a min wage worker with no healthcare, no publicly funded education, would fight for the right of a billionaire to get one more yacht for his mistress.
NEVER!!! The idea is utterly terrible!!!
What idea? Taxing the loans that the upper rich take to fund their lifestyle, and never pay a penny on it?
Should unrealized gains be taxed ? No … wow that was easy .
what about when they're monetized through loans?
@@jobunaga4178the juice is not worth the squeeze . Not by a long shot .
It wouldn't affect you. Its for the top 1%. The Trump tariff would though. Both ideas are terrible. If they aren't paying down the deficit, I dont want to give to either.
@@panda.paradox.91 I would rather pay a dollar more for any goods from China than a future way for the gov to find a way to ruin accumulated wealth through hard work and investing .
P.S don’t assume you know if it would affect me or not , that’s not an excuse for a terrible idea from Kamala and her handlers .
@@panda.paradox.91I would rather pay a few dollars more for Chinese goods than giving the gov a blank check to steal any future wealth accumulated through hard work and investing .
No thanks , terrible idea from Kamala and her handlers .
I love how they cut it off right in the middle of the conversation
We are already paying on unrealized capital gains when our property tax (which is another name for wealth tax) is based on the current value.
That is a use tax Einstein /// its used for schools, local development etc. Its not a capital gain tax on the increased equity in your home. Do you have IQ similar to that of Harris? Seems like it. Ever heard pf homestead exemption?
Property Taxes should be abolished on primary/homestead residences.
Yes, and when properties go down the taxes stay the same. You have to fight the county to get them lowered. Ridiculous.
@@toddgaak422 primary residents 200 square feet per person tax-free. Tax extra waste space.
@@toddgaak422 So, what will you tax instead? To pay for all the roads and sewers and water mains, that is.
It is brilliant to tax unrealized gains, so there can be billions of deductions in unrealized losses. Now every quarter report companies will report negative numbers to avoid paying taxes, so on paper every company will for now on be in a deficit or just close to breaking even. That will totally tank the economy.
More opportunity for them to be corrupt.
Companies already claim losses!
why cut the video of early?
They cut the real solution. Luxury tax on the super rich.
Taxing loans is absurd.
They're already taxed. You have to still pay sales tax even if you got a loan for the money to buy a house. You have to pay a loan tax surcharges and taxes every month when you pay a mortgage. It's ridiculous not to mention property tax
tell me you don't understand the UNHW collateralized loan regime without telling me you don't understand the UNHW collateralized loan regime.
@@samamashkori7357
That is not what I was referring to really. I was referring to taxation of the loan value as if it was an asset that was returning value. As in the act of receiving the cash from a loan warranted personal taxation liability. But then again people that justify unrealised gains would think it is acceptable.
@@Art-is-craftThe proposal is to tax the loan because that is the amount that the person collateralizing the loan using stock as value is receiving IN CASH. It is personal loan that has NOTHING to do with the business. It is an end run around taxation and if it were a personal loan from the business owner's company directly it would be treated as income. It isn't a ridiculous precedent and something that makes sense.
@@KK-pm7ud
A loan is not income it has to be repaid. The individual who borrows has to have income and that is where tax should be based on. Shares are not something lending institutes will provide a promissory on.
Do I get deductions for unrealized loss? How about tax credits for unrealized children?
Taxing unrealized gains is the most insane thing I've ever heard! It's not like I've hit the "sell" button and am benefitting from the gain yet. I've had stock and been up thousands and the very next day or year for that matter was down thousands. This is just insane and idiotic. What the heck you gonna do Mo? Start taxing loans too? Sorry this whole issue should just be dropped. Change the tax code and remove some loop holes if you think the Government needs more money. Insane.
do you have more than $100M of assets?
@@jobunaga4178the value of my assets doesn't change the idiocy of the proposal
You want everyone to pay the same rate?…implement a flat tax.
As business owners, we’re taxed on unrealized profits.
What a joke.
So far ive not heard a Democrat idea that sounded good, but these fools keep voting for them ..
Tax everyone who ever purchased a lottery ticket as though they won.Just as good a plan.
Yeah you want to pay 60% in taxes and a premium for groceries energy and everything else just put the Democrats back in there
Unrealized gain? Brilliant, Harris. Keep it coming. We will vote for you!
Taxing that which hasn't even happened is insane
This is the stupidest proposal ever
The criticism is driven by these bad faith actors. Kamala already said it would only be on $100M plus. But the Right is fearmongering and pretending it’ll impact your average Joe, instead of fewer than 10k Americans 😂
so far
That isn't true. Taxing the loan amount is reasonable and fits with established precedent.
It’ll never happen. It’s just a marketing tool to get young people and old lefties revved up for Kamala. It’s a completely unworkable idea.
The people suggesting this is really don’t basic investing and how the economy works
Ro's team is trying to remove the vid of him attempting to debate Vivek. Many dems came away saying they'd vote Vivek over Ro now. The dems don't want debate for a good reason.
I doubt it applies to his rich wife and in laws who he married for money.
Same dude is trading tech stocks while trashing companies and making millions. Dumb
Unrealized gains tax is just the government’s way of telling you they’re gonna take what they want from you, when they want to take it from you.
I’m definitely not voting for Kamala Harris!
The problem is that it never stays with just going after the "wealthy" and will work its way down to the Middle class as well.
Being a criminal doesn’t sound so bad anymore
Not sending our money to countries most of us have never heard of might help.
Paying a tax on money you have not earned is like counting the chickens before they are hatched . You'll own nothing and be happy
Soon they will tax me for having a pair of old socks with holes.☹️
Abolish all taxes and useless 3 letter government agencies.
I can't see any investor voting for her
If this happens I’m going to start claiming “unrealized kids” on my tax return and see how the government likes that.
Legal thieves
dumbest tax idea ever
Taxing the value of a collateralized loan is a reasonable policy. You clearly don't understand it.
Maybe instead our government should be smaller and not spend as much.
To me the problem isn’t that there isn’t enough tax revenue, but our government spends too much. The government is a terrible allocator of capital.
Also, a lot of loans these rich people are taking out to spend on their lifestyle is also funding the jobs of many others that help create that lifestyle.
The government is money hungry and acts like a leech on society.
You shouldnt tax any gains at all realized or unrealized. Especially during this period of massive inflation where everything costs more. They are just trying to put a roof on wealth so nobody can ever get any farther ahead than we currently are. Should be no death tax, no inheritance taxes either
How does the government tax something you don't have?
VOTE RED!!!!!!
CNBC sucks
This is a law to get the elderly people's homes. This is a trick.
Loans are loans, not income nor taxable events.
New and groundbreaking ways for government to stick its hand in your pocket.
Your house is an unrealized gain. The federal government can't tax your property. They WILL tax your house when it is an unrealized gain. Remember that.
Any candidate promoting this policy will NOT get my vote.
Let’s not tax unrealized gains. It’s unrealistic, absurd, and unfair
Yes! Tax the buy, borrow, die strategy, NOT unrealized capital gains!!
How bout we don’t need any more taxes. We started a revolution over a 2 cent tax on tea. LESS GOVERMENT!! TRUMP2024
Ideas like this are exactly why I'm forcing myself to vote for Trump. I'm Libertarian and it absolutely disgusts me that this was even a suggestion.
12%flat sales tax and eliminate all other. 2% to federal, 4% to state, and 6% to local.
@@roykronvall3396 hella regressive
How about we have the largest government to ever exist... How about we make it go back to it's original intent and funding, instead of negotiating how much of our money we should get to keep?
People thinking it won’t affect them and only rich people are dumb. By taxing high net worth people - these individuals will divest from
Stocks so fast that the downstream effect on normal people will be catastrophic. This will prevent growth of assets for regular people like us.
Why would anyone vote for Harris?
Lets tax the children too while we're at it
To fix the problem. STOP SPENDING
You'd probably need a loan to pay an unrealized gain tax, so they could tax the unrealized gain & the loan to the pay the tax! The government can double dip (don't give them ideas)... Seriously, you attach the capital gain tax to a sell/realization because then you lock in the amount and have the cash....Also, people with 8 to 10 figure wealth can hire tax lawyers to avoid any tax scheme on unrealized gains, forcing the government down the chain to 7 and 6 figure folks who can't finance the tax avoidance team. All of this is just a full employment bill for tax lawyers and accountants. They will also use trusts or other transactions to avoid the stepped up basis.
Stupidest idea ever.
If you want to extract additional tax revenue from the ultra-rich, taxing unrealized gains is a horrible idea that will do farm more harm than good. Tax luxury items that only the ultra-rich purchase -- yachts, jets, 3rd homes, super cars -- instead.
It’s an insane policy idea. You simply cannot tax that which has not been realized! It is just plain stupid.
Taking a loan out against your shares is essentially a sale of the stock.
I’m left of center and it’s ridiculous to tax gains not taken by selling stocks. There are other ways to get more money out of the truly wealthy. More appropriate than this.
Tax on unrealized capital gains ??? Absolute stupidity and accounting horror situation.
Get Scarborough, a more accomplished liar...........
Do they reimburse on unrealized loss ?
The history on lowering the tax rate speaks for itself!!!
Politicians think that we’re this stupid to even propose the idea. The loan tax is reasonable I think.
This is precisely what should be done. This has been obvious forever.
It's about time entrepreneurs pay their fair share on capital gains instead of putting up smokescreens on their profits by taking out 'loans' on their own money. Free enterprise may have built this country, but greed is taking it down.
Sure yeah good idea. As long as I get tax money when I have unrealized losses.
That guy really wants to take your hard earned money....and guns.😂
taxing the loans behind unrealized gains not the unrealized gains themselves. if you dont want to be taxed, just dont take loans on your unrealized gains yet.
He also wants 10000 percent inflation to solve all of our woes…. No really
A long time ago I heard someone say there was a death tax. I didn't believe him so I did some research and found out it was true. At that point I knew I had to pay more attention to politics.
Stocks if sold or used as collateral should be taxes as income but not as unrealized capital gains. Forcing the sale of stock
to pay taxes takes away the control of a company from it's founder and gives it to Wall St.
If you want to tax unrealized gains, then why don't provide tax incentive to all realized and unrealized loss and not mere $3000 per year.. This policy will have a negative effect on the stock market and does effect 401K and IRA balances..
Why would CNBC be talking about this? THIS HURTS HARRIS. wtf…..
I hope people realize that your home mortgage would end up with unrealized capitalized gain tax too. Equity in your home would be decreased by 25% tax every year as well.
If you can tax unrealised gains then you can deduct 100% unrealised losses.
They talk like they want to “go after” someone (who is right now following the law) the way you’d go after someone who defrauded you.
The aggression is disturbing. And we ALL know that the super wealthy will find a way around this while the government starts filing tax liens and seizing grandma’s house because she can write a check for the equity she has in her home.
The Harris proposal is to tax unrealized gains for individuals with a net worth of over $100 million. If this will hurt startups, why not raise the minimum to $250 million or $500 million? The problem would still be solved: the super weathly need to start paying their fair share of taxes.
So what if unrealized capital gains are passed on to relatives. It is NOT the government's money! If someone uses it as collateral for a loan, aren't they paying interest to the loaner, which is taxable? Also, why isn't basis adjusted for inflation?
Don't blame me, I never voted for a democrat in my life. No brag, just fact.
Joe doesn’t need a guest - loves to talk to himself 😂
Heres a better solution for the gov: STOP SPENDING!
Tax is government ways of extorting from the people
No, the country would benefit best from a flat tax, and the tax would be fair for everyone
Businesses employ workers that pays taxes. If businesses sell the business, there goes the tax money.
Why not just charge people medical bills for good health?
Even taxing the loan is stupid. Why should someone pay tax on an amount that he has to pay back with interest?
This is a wild suggestion.
The problem is once they get a "unrealized gains tax" they will adjust the income caps on ot and pretty soon it won't be just for super rich making 100 million.
There are not that many making that much and it's inevitable they will creep it down to middle class levels....
Loan against shares is the biggest fraud
Vote these communists out.
They are going to have a difficult time explaining this to people. Instead, why not begin with capping or even eliminating some the massive deductions that only the wealthy have access to?
Trump and the Republican did it. Why is this so difficult?
No new tax, less government spending
Isn’t it just weird how the starting point is always, how can the government sneak in another tax, how can we make sure people don’t get to buy luxury items or pass money to their kids without it being taxed… rather than, why don’t we focus on how the government is spending the money it’s already taking?
The government wants to tax my unrealized gains from running my Chop Shop . I can get down with that.
This might be the dumbest idea from the dumbest candidate ever!