- Dec 27, 2020
- Reaction score
- Cultural Center of the Universe
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Taxes on stock gains will increase from 20% to 39.6%. They are trying to figure out if it will be retroactive for 2021 or start in 2022.
The market will crash when this happens. That means investment in companies that employ people will come to a halt.
This is just the federal portion of the tax. Among the highest state tax includes New York tax is 8.82% and California is 13.3%. No wonder people are leaving these states in droves. Oh and they are losing congressional representation because of the exodus.
Riiiiiiiiiight. Because let's say I have $200,000 to drop in investment. And that money is going to make $50,000, but I'm not going to do it because my tax rate went from 20 to 39%? I'd only make $30,500 instead of $40,000? Oh the humanity, I can't stand "only" making $30,500 in this example.This is going to hurt anyone that has a 401k or invested in the stock market. Increasing taxes will crush investment. Those who it will directly impact will find alternative investments that the .gov will not steal their profits via tax confiscation. That means these folks will sell their stocks and buy something that is not taxed at nearly 53% as in some cases. When they sell their stocks, the markets will drop. When the market drops, the average investor will lose.