| boatload - 8/22/2024 06:42
So, a farm could have a potential $15,000 or more gain per acre, so we would have about $4,500 an acre capital gain tax to pay? Democrats are nuts. the proposal now is to raise cap gains to 45%, so $6,750 would be the govts share on a sale. But the current proposal is only applied to those with net worths of 100 million, for unrealized gains. The unrealized gains rate is proposed to be set at 25%.But the confiscatory new cap gains rate would punish those whom sell appreciated assets. Used to be cap gains were a favorable tax to pay. They want to change that. This will be a boon to charities, as it makes it much more favorable to just donate appreciated assets to charity.
Edited by Boone & Crockett 8/22/2024 07:26
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taxing unrealized gains
