Comments by "3namechangezalowd Evry90dayzlernmor" (@3namechangezalowdevry90day7) on "'Why Can't You Just Answer Me?': John Kennedy Grills Dem Witness" video.

They would. It would be a tax loss write - off against taxes on next year's cap gains and income. Kiyosaki types claim depreciation all the time.
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Who knows, it might actually be to someone's advantage to pay a little tax on their cap gains ( such as home equity) ahead of time, while they're young and in a low bracket, rather than getting taxed in a much higher bracket when they sell their starter home and have to take the profits all in one year! One thing's for sure, whatever laws are enacted, people will roll with the punches and exploit any loopholes in the tax codes that exist.
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@jimmycassadichio8359 They're either cheating or found some loophole. Preachers are supposed to pay tax on salary and earnings (IRS topic 417). If they did tax religions like corporations, that'd be the unofficial end of separation of church and state because the county tax assessors could levy really high real estate taxes against whatever preachers they didn't like and run them out of town.
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To be fair, "Why do y'all want to punish wealthy people?" is a loaded question.
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Looks like she's trying to say there's a bunch of immigrants coming in that compensates for any exodus. These news clips are always highly edited so you can't tell what they said already.
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Who knows, it might actually be to someone's advantage to pay a little tax on their cap gains ( such as home equity) ahead of time, while they're young and in a low bracket, rather than getting taxed in a much higher bracket when they sell their starter home and have to take the profits all in one year! One thing's for sure, whatever laws are enacted, people will roll with the punches and exploit any loopholes in the tax codes that exist.
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@abcaabca6364 Sometimes, something's true some of the time but not all the time. Economics is an incredibly complex subject! If you give a yes/ no answer to a complex question, you conceal part of the truth. For example, let's say someone asked you if a person who needs money should take it from their 401k, yes or no. An answer of either "yes"or "no" is going to screw some people, because what's best depends on the individual's situation! Someone under 59 1/2 will be penalized, while an older person won't be and might want to spend from their 401k ( or pay taxes and convert the money to a Roth IRA) to avoid problems with Medicare eligibility and having to take required minimum distributions. The longer answer is often the more accurate answer.
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@auskip07 It's not about " punishing" the wealthy, though. Governments take from those who HAVE because it's just not economically practical for a government to get money from those who don't have it. They'd just end up paying out more than they made to jail non-payers and in welfare ( plus administrator salaries) because their tax pushed more people under the poverty line. That's why we have a progressive bracket tax system. That being said, a wealth tax is probably going to be anticipated ( if it gets close to passing) and dodged by the ultra rich.
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@braceyourselvesfortruth2492 I see what you're saying about the top bracket. Real estate is also an investment/ stock market hedge for a lot of Americans not in that top tax bracket. Paying a little tax (while in a lower bracket) as opposed to a huge tax ( when your cap gains from a sale put you in a higher bracket that year) would save you money, so I would consider that an investment. Plus, everybody in the top bracket didn't start out there. (For example, a medical student isn't making the household income of a cardiologist married to another cardiologist). The concern being expressed in the comment section is that the wealth tax, if implemented, is going to end up being spread gradually onto the middle class, since the IRS won't make the revenue it projects off the ultra wealthy ( due to their use of loopholes and tax havens).
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@robertkubrick3738 I agree with what you're saying about the buying power of money, but I think it applies more to people paying off mortgages rather than investing, not to people potentially reducing their tax burden by paying over several years instead of in one high bracket lump sum. Unlike an non adjustable rate mortgage, the future tax rates can go up, which could easily cancel out any profits you'd have made by investing rather than pre-paying on your cap gains(if that were to become possible). Saving on taxes is like paying off high interest debt. It's a sure thing, unlike profit from investments. If we were going to higher percentages of tax on each bracket, (such as when the TCJA expires), people would definitely want to pre-pay. The rate of inflation could also fluctuate back down. Hyperinflation could happen, but it's not guaranteed to happen.
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Sometimes, something's true some of the time but not all the time. Economics is an incredibly complex subject! If you give a yes/ no answer to a complex question, you conceal part of the truth. For example, let's say someone asked you if a person who needs money should take it from their 401k, yes or no. An answer of either "yes"or "no" is going to screw some people, because what's best depends on the individual's situation! Someone under 59 1/2 will be penalized, while an older person won't be and might want to spend from their 401k ( or pay taxes and convert the money to a Roth IRA) to avoid problems with Medicare eligibility and having to take required minimum distributions. The longer answer is often the more accurate answer.
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Also, to be fair, "Why do y'all want to punish wealthy people?" is a loaded question. It's not about punishment, it's just that it's impossible to take from those that don't have! You can't take more money from the poor, because then you'd waste more money than you got jailing them for non- payment or you'd end up having to pay out more in food and housing aid (plus admin costs) because you just made the poor poorer. That's why we have a progressive tax code. Then the billionaires dodge by moving their HQs to offshore tax havens and the middle class gets screwed.
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