211–220 of 292 posts
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It has changed a lot with antifa having free reign for the last year. Lots of businesses boarded up and leaving. Even the Apple store was just set on fire again .
Part-time Portlander here! You have absolutely no idea what you're talking about. Please stop basing your worldview on Infowars talking points.
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These taxes always start off only affecting the richest of the rich, until the government decides it needs more revenue.
What if I told you that as an ordinary engineer I am perfectly OK with paying state income taxes and capital gains taxes here in Seattle? Why? For the benefit of all. I am not wealthy by any means given local expenses but I live comfortably. As someone who is better off than the majority of people (as are most of us on HN when compared to the people around us wherever it is we live) I feel it is important to invest i…
Here is the official process "Gifts to the U.S. Government": https://www.fiscal.treasury.gov/public/gifts-to-government.h...
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Isn't that the same way it works for buying stocks? I don't live in the US, but if I buy stocks for 100$, then sell them five years later for 150$, I have to pay a percentage of the winnings (so a % of 50$). This means that if inflation was more than what's left over after the taxes are removed then I would effectively "lose" money.
Let's be clear though, if your stock grows as little as that such that after paying capital gains on profits and adding inflation into the equation would leave you on the negative or even, then it's a pretty bad performing stock.
I recently came across this comment by Philip Greenspun: “if you bought an asset for $10,000 in 2000, for example, the BLS says you spent $15,700 in today’s mini-dollars; if you sell it for $15,000 in 2021 you’ve actually suffered a loss, but will owe capital gains tax nonetheless” ( https://philip.greenspun.com/blog/2021/04/29/economic-wisdom... ). I’m not a finance person, and this had never occurred to me. Does he…
If you had 10k in 2000 then didn't invest, in 2021, you'd lose even more money due to inflation than if you invested. Because cash obviously doesn't grow with inflation. You're only option to "get ahead" is to pick a better stock :)
I don't think WA is doing that though. They probably have a much lower threshold when the capital gains tax sets in.
Edit: just read a bit closer and WA is exempting the first 250k in gains per year. So they are offering an even better deal than the feds.
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Though they do literally seek rent from their tenants, landlords who provide housing (or commercial real-estate) are not rent-seeking in the economic sense of that phrase, which is to seek to improve your economic position without creating any benefits for others . Providing housing or office space is clearly creating benefit for others.
This is sort of an unreal conversation to be having. If you buy a house to speculate on housing prices, and then rent it out, _you aren't adding anything_. That's entire point of the phrase "rent seeking". You've dumped capital into a limited-quantity good and then extract rent as it becomes more valuable. The only exception is those actually expanding the housing supply (which is hugely valuable and should be reward…
Details are sparse in this article. Looks like 7% capital gains tax, first $250K excluded, real estate excluded. Proceeds to primarily fund childhood education (for now). > For example, stock sales higher than $250,000 would be taxed at 7%. Real estate would not be. 7% (on top of federal cap gains, which are also increasing) is a significant tax rate to start with. If it was 1-2%, I could see people rolling with it.…
Why? Oregon has income tax of 9-10% on all income over $9k/year.
Why is real estate always exempt from this stuff? Is there a good reason or is the special interest just large?
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Depends on your state, but I guarantee the information is available to you. You can ask your state representative for more information if you're curious. Here's the 2020 financial report for WA's lottery: https://walottery.com/About/assets/docs/20AnnualReport.pdf Page 31 is probably what you're looking for. The majority of payments ($141 million) went to the Washington Opportunity Pathways Account, relevant statute h…
The concern is usually that (made up numbers) school is budgeted at 100M/yr from the general fund. Then they get a lottery that provides 30M/yr, and 100% goes to the schools. Now the schools have 130M/yr right? But the worry is instead they reduce the funds from the general budget to 70M. The lottery money all went to the schools, but the extra 30M went to the general fund.