Posted on Feb 15, 2022
Pelosi, other stock-trading pols could avoid capital gains taxes under Warren proposal
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Have to love Democrats. I wonder if AOC will wear her “tax the rich” dress to the bill signing?
Pelosi, other stock-trading pols could avoid capital gains taxes under Warren proposal
Posted from nypost.com
Democrats
Congress
Posted 2 y ago
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Read the actual article. Here is an important quote: "They would be able convert their stocks into broad-based investment funds or Treasury bonds while deferring any capital gains taxes until they sell off the new assets..."
It is tax deferral, not pure avoidance. The proposal is kicking can down the road based on conversion to a new asset type instead of directly selling for cash.
It is tax deferral, not pure avoidance. The proposal is kicking can down the road based on conversion to a new asset type instead of directly selling for cash.
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LTC David Brown
Tax deferral can be very profitable. Tax deferral is what make IRA’s such a good deal. AOC makes $174,000/ year. So she puts $30,000 a year into an IRA her taxes drop from 32% to 24%. Then she can access the funds and profits at a lower tax rate. There are multimillionaires who have poverty income levels and pay zip taxes,
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MCPO Roger Collins
If Pelosi has this in the bill, it’s not an issue of deferred taxes, but more in her huge retirement fund. After all the piggy bank will close after the mid terms.
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SFC Casey O'Mally
Deferring REALIZED capital gains taxes.... while at the same time pushing "wealth taxes" to tax UNREALIZED capital gains on others.
Not at all hypocritical. Nope. They're Democrats, they don't know the meaning of the word.
Not at all hypocritical. Nope. They're Democrats, they don't know the meaning of the word.
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