How to have a billion dollar exit with zero capital gains tax • Hacker News Board

Re: How to have a billion dollar exit with zero capital gains tax

#301

Post by webmaven » Wed, May 11, 2022, 5:09 PM UTC

The closest opportunity zone is 5 miles away, includes a large mall, mixed use development, upscale retail spaces, a Trader Joe's, etc.

Meanwhile, I am surrounded by vacant lots, a large mall that is entirely dead and vacant, low income housing, one tiny strip mall with a convenience store, and another with a church, dollar store, and liquor store (a mile away).

I can see though that the OZ tract is tiny, whereas the tract I'm in is about 7 x larger and includes some more supermarkets and malls further away that are very active though not upscale.

Looks like a fairly straightforward case of economic gerrymandering.

Re: How to have a billion dollar exit with zero capital gains tax

#302

Post by Layke1123 » Wed, May 11, 2022, 8:48 PM UTC

imgabe wrote: post #289

nobodyandproud wrote: post #221

Earlier quoted context omitted.

For starters, how about paying at least the capital gains rate? For large businesses, they’re finding ways to pay less than 20%. But tabulate all of the ongoing costs to build and maintain our national infrastructure, legal system (no business without the courts), law enforcement branches, etc. Deduct the income taxes currently levied on wage earners. Roughly, the rest of the money needs to come from corporate taxes…

> For starters, how about paying at least the capital gains rate? > For large businesses, they’re finding ways to pay less than 20%. People do pay capital gains tax when they realize capital gains. What makes you think they don't? Businesses pay corporate income tax which is a different thing altogether. They're already double-taxed (when the company turns a profit, and again when they distribute those profits to sha…

Who are you in real life? You don't sound like someone who works in software programming for a living or understand what poverty is like. Are you an exec? A manager?

Re: How to have a billion dollar exit with zero capital gains tax

#303

Post by Layke1123 » Thu, May 12, 2022, 6:47 PM UTC

lukas099 wrote: post #193

jusssi wrote: post #162

Earlier quoted context omitted.

> sexual predator teachers You need to chill, dude. I am not defending child molesters. I am not even claiming that capital investment is evil. I am simply pointing out the fact that the relation is parasitic. > As an investor, I don't see a single cent of profit in this case. Then you aren't paying capital gains tax either, so I don't see the problem. I'm curious though, do you also not expect to get any profit for…

It's not parasitic, it's symbiotic. Without profit-seeking capital, there would be no opportuinities for productive labor.

You can't think of any reason people would provide productive labor without their being profit-seeking capital? Do you really, truly believe that? If you do, I have a bridge to sell you.

Re: How to have a billion dollar exit with zero capital gains tax

#304

Post by thereare5lights » Thu, May 12, 2022, 8:12 PM UTC

imgabe wrote: post #291

thereare5lights wrote: post #267

Earlier quoted context omitted.

> Seems like the problem is the voters then. Yes. That means that your claim > it's because the government (and by extension, the people it represents) want to incentivize that particular activity particularly the > (and by extension, the people it represents) is false. ---- > Per your earlier statement, that is not what most voters want. They want their team to win. False. The vast majority of people want their team…

It's not false. You're confusing stated preferences vs. revealed preferences. People might say they want to enshrine their legal right to abortion or that they don't want people to get tax breaks for investing in depressed areas, but they don't do anything that would actually make those preferences a reality (i.e. elect candidates based on those issue who will enact the policies people say they want). So when it come…

It is false. You're confusing people prioritizing their teams winning over wanting other things.

In an ideal world, they would want both and would get both. However they have to pick. Hence it is not that they don't want it, it is that they want it and cannot get it because they don't want to pay the cost of getting it.

Re: How to have a billion dollar exit with zero capital gains tax

#305

Post by throwawaygh » Sat, May 14, 2022, 2:24 PM UTC

refurb wrote: post #259

throwawaygh wrote: post #242

Earlier quoted context omitted.

A two earner household with a cop and a nurse benefited from SALT. The average beneficiary of opportunity zones is generationally wealthy. A pair of tech workers pulling down 7 figures a year are stupidly wealthy and still would probably not have enough capital to be the primary beneficiary of an opportunity fund. I’m not going to defend the salt deduction because I’m not a fan of it for the reasons you mention, but…

Generationally wealthy seems like a statement that needs some data there. These investments can be as simple as opening a store. Youre putting up a straw-bogeyman that doesn’t actually exist.

Citation sorely needed. What’s the name of that opportunity fund?