“Progressive” Supreme Court is a pipe dream

Can this guy please have a major stroke already

hes taking it like a champ

Your net worth isn't over $100 million
Don't even worry about it lil bro

The proposal would impose a minimum tax of 25 percent on total income, generally inclusive of unrealized capital gains, for all taxpayers with wealth (that is, the difference obtained by subtracting liabilities from assets) greater than $100 million.

Your penny stocks and robin hood holdings are safe

25% income tax on nine figure people isn’t it like 30% rn

@krishna_bound can you help me here

Page 83 to read the entire passage
home.treasury.gov/system/files/131/General-Explanations-FY2025.pdf

So this is applied to capital gains and unrealized investments?

Yes

Not bad

I just feel like these kinds of legislation should be footnotes of larger projects rather than being the cornerstones themselves

It's not a cornerstone, it's one of over 80 different tax-related proposals that are in the FY25 plan

Taxing unrealized gains is just a boogeyman topic that makes the average person think the government is gonna take money from their $2000 GME investments on Robinhood. That's why it gets so much engagement on social media

Dude who posted the tweet ITT doesn't even know what "high net worth" is defined as in the proposal and he's telling others to educate themselves

I see that treasury doc you sent has the whole gist of things?

Yes
I'm not gonna pretend like I'm a tax expert but here's some excerpts from the table of contents

This was released in March of this year, it's Biden's proposal that Kamala is backing so nothing original.

At this rate a house will cost that in 40 years

Walz is killing it right now on stage. Wow.

If Trump wins, I’m getting a vasectomy.

I hate the fact that we’re stuck in a culture war. Humanity is going to the f***ing dogs

Never underestimate your enemy. I’m not underestimating Trump. He’s a real danger to my life

Wow

F*** the democrats f*** kamal harris f*** the usa

You already know