Hey Philip Lowe…let’s talk about how successive governments have distorted our housing market by keeping #negativegeating and #capitalgains. Oh wait they benefit rich people and your mates. #rentcaps which help poor is bad distortion. #auspol #rba

https://www.theguardian.com/australia-news/2023/jun/04/a-quarter-of-australias-property-investments-held-by-1-of-taxpayers-data-reveals?CMP=Share_iOSApp_Other

Price Controls will distort supplies! So what does Lowe think #negativegearing and #capitalgains. I used to defend this tosser but he really is a rich boy panda. #insiders

@pluralistic Many years back I somehow got invited to a focus #panel that was thinly veiled pop research for a #Republican candidate (despite me being an active booster of the Democratic #candidate in the race)

At one point the topic of #CapitalGains #taxes was brought up, and the so-called "neutral" moderator brought it up like this:

"Say you have a #savings account, and you get interest on that savings account. So this would be a tax on that #interest

I went, exqueeze me?

The Brisbane City Council approved the expansion of an #agedcare facility on land that flooded last year. The council is developer driven not smart driven.
That #labor refuses to get rid of #negativegearing and clean up #capitalgains is a reflection of the personal greed that drives them. #auspol

https://www.theguardian.com/australia-news/2023/may/28/bulimba-barracks-brisbane-river-site-development?CMP=Share_iOSApp_Other

This FedGov should have their desire to manipulate markets curtailed.

Having been told by my mother that #housing and rental is a state issue i pointed out to her that it is but the FedGov has manipulated and distorted it. #negativegearing #capitalgains

#Education …state but again Federal manipulate and give private schools more money.
#Agedcare …. was state but Fedgov instead of giving states money persuaded them to give it to them. Huge FUP.
#NDIS…again state but instead of handing over GST money to states they are persuaded to give up….Huge FUP.

Our FedGov has been playing footsies with Defence and what a corrupt mess this is and have never done that well ie Subs but the states still get sucked into handing over to them things that shouldn’t be handed over.

The one small blessing is states didn’t hand over Health to Fedgov so we didn’t have Morrison killing us during #covid
#auspol

What is profit and loss (PnL) and how to calculate it - PnL refers to the financial gain or loss from buying and selling ... - https://cointelegraph.com/news/what-is-profit-and-loss-pnl-and-how-to-calculate-it #cryptocurrency #profitandloss #cryptotrading #capitallosses #capitalgains #grossprofit #tradingfees #calculate #netincome #expenses #revenue #pnl

Seattle considering its own capital gains tax following new state law - The Seattle skyline. (GeekWire File Photo / Kurt Schlosser)

A controversial ca... - https://www.geekwire.com/2023/seattle-considering-its-own-capital-gains-tax-following-new-state-law/ #capitalgains #civic

Matt McIlwain: 7 reasons why the capital gains tax is bad for Washington state - Matt McIlwain. (Madrona Venture Group Photo)

Editor’s note: We asked two Seattl... - https://www.geekwire.com/2023/matt-mcilwain-7-reasons-why-the-capital-gains-tax-is-bad-for-washington-state/ #capitalgains #civic #tax

Nick Hanauer: 7 reasons why the capital gains tax is good for Washington state - Nick Hanauer. (Civic Ventures Photo)

Editor’s note: We asked two Seattle ventur... - https://www.geekwire.com/2023/nick-hanauer-7-reasons-why-the-capital-gains-tax-is-good-for-washington-state/ #capitalgains #civic #tax

Will the new capital gains tax cause businesses to leave Washington state? - (Bigstock Photo)

Now that Washington state’s new capital gains tax has the leg... - https://www.geekwire.com/2023/will-the-new-capital-gains-tax-cause-businesses-to-leave-washington-state/ #capitalgains #civic

The rich get most of their income from capital gains because capital gains taxes are lower.

Capital gains taxes are lower because the rich get most of their income from Capital Gains.

#taxes #therich #capitalgains

What is the cost of treating #privateequity's income as #capitalgains rather than income?... well I see that Dan Neidle, former head of tax at law firm Clifford Chance (quoted in FT), reckons the cost to the HMRC of this 'loophole' is around £600mn a year... so yup, as we knew already, and as Leona Helmsley famously said: 'tax is just for the little people' not the #Tories mates in private equity!

The skewed #tax system is (again) revealed by the underlying #tax resolution in the #NadhimZahawi 'scandal'... as Arun Advani argues, the system currently taxes #capitalgains more lightly than income (hence Zahawi's effective 14% tax rate - leaving aside his penalty - when he finally paid it)... but it doesn't have to be like this & indeed in the past capital gains & income were taxed at the same rate which is hardly manifestly unfair... so as Advani points why not again!
https://www.theguardian.com/uk-news/2023/feb/03/nadhim-zahawi-it-was-the-paltry-size-of-his-tax-bill-that-should-shock-us

@ares @TakeStockAmerica

The rich get most of their income from capital gains because the capital gains tax is lower.

The capital gains tax is lower because the rich get mot of their income from capital gains.

#taxes #capitalgains #taxtherich

Now is not the time to cut military spending. Now is the time to expand military spending on modernization of conventional & nuclear forces. We should raise #taxes on the rich ( #capitalgains ), & then use tariffs to offset the trade advantages of countries that maintain low taxes. Then we should use trade negotiations to convince our European & East Asian allies to follow our lead by raising their own taxes & military spending.

Democracy must make itself a military juggernaut.

#debtceiling

Italian Parliament Approves 26% #Crypto-Gains #Tax in 2023 Budget

https://www.coindesk.com/policy/2022/12/30/italian-parliament-approves-26-crypto-gains-tax-under-2023-budget/

So, #cryptocurrency #investments are subject to #CapitalGains taxation, in the same way as stock investment. This is quite different from the #income tax paid for savings or your work income.

Italian Parliament Approves 26% Tax for Cryptocurrency Gains in 2023 Budget Law - The Italian Parliament has introduced a 26% capital tax on cryptocurrency gains as... - https://news.bitcoin.com/italian-parliament-approves-26-tax-for-cryptocurrency-gains-in-2023-budget-law/ #italianparliament #capitalgains #incentives #budgetlaw #portugal #europe #taxes #italy #26%

That document explained how preferential tax rates on long term capital gains, and stepped-up basis for inherited assets, contributed to wealth inequality.

These related to the two main provisions of the draft legislation targeting intergenerational wealth hoarding.

The draft legislation did not include a major expansion to a tax loophole for the rich
https://home.treasury.gov/policy-issues/tax-policy/revenue-proposals
--------------------------
#inequality #SteppedUpBasis #taxes #CapitalGains #IntergenerationalWealth

Italy Wants to Tax Crypto Gains at 26% From 2023 - The new government of Italy plans to impose a 26% tax on capital gains from crypto... - https://news.bitcoin.com/italy-wants-to-tax-crypto-gains-at-26-from-2023/ #cryptocurrencies #cryptoholdings #cryptocurrency #cryptotrading #giorgiameloni #capitalgains #cryptoassets #proposal #taxation #italian #profits #budget #crypto #meloni #taxes #gains #italy #tax

https://www.abc.net.au/news/2022-11-21/homelessness-mooloolah-river-interchange-property-resumption/101666264

#homelessness #auspol #taxes #negativegearing #housing #capitalgains

The governments tax system which has destroyed the whole housing situation should be required to find homes for these people in the same community before they take their properties.