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csziggy

(34,189 posts)

24. Capital gains does not just affect stock market investments

Reply to Yo_Mama_Been_Loggin (Original post)

Fri Apr 23, 2021, 06:00 PM

Apr 2021

I own a small farm and at one point thought about clearing some land for additional pastures and other improvements. The bid I got for clearing and selling the trees was just barely enough for seeding and fencing the new pasture area - until I had to subtract the 20% I would have had to pay in capital gains tax (the amount at that point in time). With that extra expense, I didn't have enough to do all the necessary work, so I just left the trees. The wildlife was happy, but it cut into my usable land and ability to make a higher income.

Small farmers and other small businesses could be badly affected by much higher capital gains.

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Highlight:

Rich Americans Face Biden Tax Hike With Anger, Denial and Grief [View all] Yo_Mama_Been_Loggin Apr 2021 OP

Labor should have the lowest tax rate. FoxNewsSucks Apr 2021 #1

Sounds good to me pandr32 Apr 2021 #4

Especially since there is a large amount you can Bettie Apr 2021 #12

Absolutely! smirkymonkey Apr 2021 #18

I must disagree with that tax, I think it would doc03 Apr 2021 #2

I'd like to see a STET tax also. FoxNewsSucks Apr 2021 #6

I can't see a tax that high though. I depend on an IRA doc03 Apr 2021 #9

I can't remember who it was but one of the Democratic doc03 Apr 2021 #11

E*Trade buys are nothing whistler162 Apr 2021 #21

I agree with you, doc. bamagal62 Apr 2021 #10

When is it enough for the rich? When? I suspect that the rich feels like that they don't SWBTATTReg Apr 2021 #3

Human dragons Bettie Apr 2021 #13

Good description! Your description reminds me of one of my Uncle Scrooge comic books, SWBTATTReg Apr 2021 #16

The free ride is over. lpbk2713 Apr 2021 #5

I wish, FoxNewsSucks Apr 2021 #8

Yes, and they pedaled their fake sob stories about raising the min. wage, etc. (set since 1980s) SWBTATTReg Apr 2021 #17

And no one is asking for them to leave the table Bettie Apr 2021 #20

Sad thing is, they will ALL still be RICH even after the tax hikes. Greed is their gift. nt joetheman Apr 2021 #7

They gots the agita. MineralMan Apr 2021 #14

Capital Gains should be taxed to income IbogaProject Apr 2021 #15

+1000 smirkymonkey Apr 2021 #19

Agreed. nt crickets Apr 2021 #23

That problem could be solved by bringing back the higher number of tax bracket we used to have JHB Apr 2021 #26

I bleed for those delicate flowers. Baitball Blogger Apr 2021 #22

Capital gains does not just affect stock market investments csziggy Apr 2021 #24

Small farmers ought to be exempt from any such tax. I hope Vilsack etc. are consulted. DFW Apr 2021 #27

My husband has a joke about that csziggy Apr 2021 #28

That sounds..... DFW Apr 2021 #29

Nope, we've been there, done that csziggy Apr 2021 #30

They should be happy for all the years since Reagan FakeNoose Apr 2021 #25

Cry me a river drmeow Apr 2021 #31