INSANEMODE/wikAPEdia
1
0
Fork 0
mirror of https://github.com/verymeticulous/wikAPEdia.git synced 2025-06-08 02:47:50 -05:00
Code Issues Projects Releases Wiki Activity

Create 2021-08-16-Department-of-the-Treasury-Prepares-New-Tax-Proposal-for-MOASS.md

Browse Source
This commit is contained in:
verymeticulous 2021-08-18 08:24:52 -04:00 committed by GitHub
parent 04d7aabd24
commit f1d9a1997e
No known key found for this signature in database
GPG Key ID: 4AEE18F83AFDEB23
1 changed files with 56 additions and 0 deletions
Show Stats Download Patch File Download Diff File Expand all files Collapse all files

56
Government/Department-of-the-Treasury/2021-08-16-Department-of-the-Treasury-Prepares-New-Tax-Proposal-for-MOASS.md Normal file
View File

@ -0,0 +1,56 @@
The New Tax Proposal is Prepared for MOASS. (Retroactive Capital Gains)
=======================================================================
| Author | Source |
| :-------------: |:-------------:|
| [u/I_DO_ANIMAL_THINGS](https://www.reddit.com/user/I_DO_ANIMAL_THINGS/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/p5hr5d/the_new_tax_proposal_is_prepared_for_moass/) |
---
[Education 👨‍🏫 | Data 🔢](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Education%20%F0%9F%91%A8%E2%80%8D%F0%9F%8F%AB%20%7C%20Data%20%F0%9F%94%A2%22&restrict_sr=1)
Good morning and happy Monday Apes,
Disclaimer: I'm nobody and an idiot so you do you. This stock is awesome tho.
TLDR: The changes proposed to Tax Laws would be effective December 2021 with the exception of the proposed change for Capital Gains which would be retroactive to April 2021.
Soruce: [US Treasury](https://home.treasury.gov/policy-issues/tax-policy)\
[General Explanations of the Administration's Fiscal Year 2022 Revenue Proposals](https://home.treasury.gov/system/files/131/General-Explanations-FY2022.pdf)\
[Whale Teeth For MOASS](https://www.reddit.com/r/Superstonk/comments/p3q1ka/whale_teeth_killed_the_dinosaurs/?utm_source=share&utm_medium=web2x&context=3)
Published May, 2021. That's important.
[![r/Superstonk - The New Tax Proposal is Prepared for MOASS. (Retroactive Capital Gains)](https://preview.redd.it/diwjeoawdqh71.jpg?width=548&format=pjpg&auto=webp&s=40e8867025ac9aa70b49542be69ba80db51ef6e1)](https://preview.redd.it/diwjeoawdqh71.jpg?width=548&format=pjpg&auto=webp&s=40e8867025ac9aa70b49542be69ba80db51ef6e1)
Published May 2021
Reform Capital Gains Tax
The short layman: Currently, taxes on gains fall into 2 classifications. Short Term and Long Term, with Short Term being taxed much higher and Long Term taxed within your applicable tax bracket.
This proposed change says all gains, long and short will be taxed at the higer rate for anyone who makes over $1Million income.
What's neat about this? It's proposed to be effective RETROACTIVLY.
Likely April/May 2021.
> *" This proposal would be effective for gains required to be recognized after the date of announcement. "*
This *announcement* is the very document before you. [General Explanations of the Administration's Fiscal Year 2022 Revenue Proposals](https://home.treasury.gov/system/files/131/General-Explanations-FY2022.pdf)
[![r/Superstonk - The New Tax Proposal is Prepared for MOASS. (Retroactive Capital Gains)](https://preview.redd.it/63bipoc8eqh71.jpg?width=559&format=pjpg&auto=webp&s=080bd9c68e5a74be31da38d7fa9abfe4cd5154d7)](https://preview.redd.it/63bipoc8eqh71.jpg?width=559&format=pjpg&auto=webp&s=080bd9c68e5a74be31da38d7fa9abfe4cd5154d7)
I wonder why Uncle Sam would want to roll the clock back on this specific change.
The other changes are NOT retroactive.
[![r/Superstonk - The New Tax Proposal is Prepared for MOASS. (Retroactive Capital Gains)](https://preview.redd.it/jnjn2f0bgqh71.jpg?width=517&format=pjpg&auto=webp&s=386befc0c66aef75107dd5514e73cbed68e845bb)](https://preview.redd.it/jnjn2f0bgqh71.jpg?width=517&format=pjpg&auto=webp&s=386befc0c66aef75107dd5514e73cbed68e845bb)
The proposed changes for higher income would be effect December 31. Not "after the date of announcement."
I'll close with this. My tits are jacked and PROUD to pay my taxes to improve my country. We are all clearly aware of systemic issues and it does hurt to feel like you're paying into a system that's failing it's people. However, change needs to start somewhere and I personally believe the 1% should indeed be taxed much higher than the rest of the world.
I will be just fine with my giant sum of money after being taxed a giant some of money.
Whale Teeth For MOASS