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Non-Tech : Kirk's Market Thoughts

COHR 198.51

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Dec 11 3:59 PM EST

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To: Kirk © who wrote (12250)	10/26/2021 4:58:23 PM
From: Elroy	Read Replies (1) of 26763

CA has a 13.3% income tax on those who make $1M a year... And the reason people who make $1M per year in income and $10M per year in unrealized capital gains should pay $133,000 income taxes and zero in unrealized capital gains income tax is.......what? Because as the previous poster mentioned, people in that situation often end up quitting their $1M per year job, thus paying zero future income taxes, and live off of the $10M per year of tax free unrealized capital gains. More power to those smart and fortunate enough to accumulate investments that produce that type of capital gain.....but why let it be sheltered from tax while working people income pay when the worker's salary is orders of magnitude less than the investor's unrealized capital gain? What's the logical reason why realizing a gain should trigger a tax penalty, while not realizing a gain gets rewarded relatively with zero tax penalty? The lucky few who are able to own investments which increase to the hundreds of millions are able to never sell the asset, live off of a 2% per annum ever expanding bank loan secured by the hundreds of millions in assets, and never pay taxes because they never need to realize the capital gain. Why discourage realizing gains?

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