EC Nebraska | hlstark - 8/24/2024 15:49
Your example does not fit the parameter set forth in proposal of unrealized gains being taxed only when the amount of gain exceeds 100 million.
In reality the proposed tax would affect very few farmers. Any claim that it could eventually is wild speculation unfounded by any proposals put forth.
When the income tax was first implemented, it only affected the top 3% earners. It got phased down.
If this is ever implemented, it won't affect most farmers at first. And it's very unlikely that it would be retroactive on the lower brackets.
But, if it is ever implemented, it will be phased in and down. Past gains will be grandfathered in as they move it into lower brackets. It might be a decade after implementation before it gets down to very many farmers. But it will get there. |
Unrealized gain at 25%
