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So, Biden is planning a major tax hike including 21 to 28% on corporations. Which reportedly will affect the ability to give RSU options. It might bring down your total comp by 15%. Including 13% on payroll after 400k it makes almost no sense to target more than 400k in family income. What do you think?
“It makes no sense to target more than 400k in family income” 😂 This is a classic irrational understanding of taxes.
No-no, I understand that I will earn more. But if I will pay total 55%+ on my 400k+ income I might decide to put my effort somewhere else.
I don’t see a problem with “putting your effort somewhere else” Go start a local business! Create more jobs. That’s the point of this.
O hell naw
Stocks will drop to ZERO!
More curious is why the Covid suddenly started getting better when they brought Biden. Pay taxes. Don't have businesses. Be corporate slaves forever. Obey media. LoL. Is actually very common tactics used by oppressive regimes.
“Covid suddenly started getting better when they brought Biden” I know right?! What’s the point of competent leadership?!
Cause politics! WA governor asked to open schools after Vuden win DESPITE of case hike
Genuinely curious how this affects the bay area housing market. Will prices drop because now TC is going down or will it literally do fuck-all because so many people already IPO'd and are just HODLing in the market until such a tax-event occurs? Whatever - prices are so high that I can't even get into this market even with one of my employers IPOing and I'm having tens of thousands of stock. Personally, this fucking sucks. I'm already going to be paying assloads in CA tax but now Biden is trying to fuck us with personal income tax rates on capital gains. Literally what the fuck is the point of long-term investment strats then!? It gets rid of ANY incentive in the market to hold investments now beyond TSLA/BC type beliefs. I wouldn't be bothered by high taxes on higher incomes if it wasn't for real estate being so fucking expensive here. I'm normally all eat-the-rich and what not but this ain't no wealth tax, fam. It does nothing to the truly rich - just oppresses a bunch of wage slaves even more. :(
Reports are that increased cap gains would only apply to people with incomes above 1 million. That's really high. Especially if it's from selling low cost basis equity. Taxes shouldn't control your investment strategy, but you'll have a lot of control over how much income you report.
Problem there is that some of us have been with startups for a while and would like to cash out. You may effectively be at <1mil/yr based on when you joined and worked but you'll be taxed like you were making more than $1mil/yr because you sold all in one year. I think the system fucking sucks for people in startups. It'd be more fair if you could spread the taxes out over the years you were earning the stock options instead of being taxed at the highest bracket all in one year.
Imo tax hike not 100% going to happen. Not all democrats support tax hike. You need 100% democrat support for it to pass in senate. If it increases capital gains tax I’ll simply not sell any stocks till another president lowers it.
Yeah... since you can take margin loan it makes sense
Great. It obviously won't happen but good to try
The world is so weird place right now so I can believe it will happen
Food for thought: some economic researchers say that corporate income tax is largely borne by consumers and employees, not shareholders http://www.levyinstitute.org/publications/is-it-time-to-eliminate-federal-corporate-income-taxes So raising corporate taxes just means decreasing employee income and/or raising prices.
Pretty obvious. If you increase tax on all companies, they are going to pass on the cost, since supply is reduced and demand remains the same. If you want to reduce corporate profit, increasing competition is the way to go.
Exactlt
Is payroll tax still in play? Haven't heard anything recently.
Makes complete sense
You mean makes sense to earn more than 400k? Why, if you can rest and vest @senior level in google-ms? Or you mean my writing makes sense? ;)
Rich have gotten all the benefits for way too long