Impacts of recent Capital Gains law proposal

[Exhibitman]

The OP question is based on two false premises. (1) gains on cards have always been taxable, and (2) cards are not subject to the same preferential 15%-20% capital gains rate as stocks. Collectibles are taxed at up to a 28% rate:

https://www.irs.gov/taxtopics/tc409

In some cases it may be more efficient to form a business and pay marginal income taxes on net profits than to take a capital gains approach to card sales. It all depends on each person's specific financial profile. One thing I am pretty certain of is that no one is moving money from tax-efficient investment like stocks held for more than a year to a less efficient one like cards if they are making decisions based on capital gains taxes. Money is going into hard assets like cards because of two factors: (1) a belief in short-term potential for flipping in and out at a profit that cannot be garnered in other investments, and (2) as a small piece of a portfolio to hedge against inflation, similar to how metals and other tangible assets have been treated in the past. As to the latter, with the high expenses to enter and exit the market, I think it is not a good investment relative to others. But they are fun to own; you can't beat looking the Bambino in the eyes.

[Yoda]

I believe the proposed new tax law aims to restore tax equity by making some hedge funds' income, now treated as capital gains as taxable income. I imagine the present treatment has cost the Treasury billions.

Should be some fireworks in Congress on this one.

[rjackson44]

Could care less

[pwang100]

Originally Posted by rjackson44

Could care less

I never understood the saying " Could care less".. shouldn't it be " COULDN'T care less"?

Sent from my SM-G950U using Tapatalk

[perezfan]

Maybe he really could care less.... meaning he really does care?

[egri]

I've been hearing some version of the stock market is tanking/about to tank since 2011, when we were going to enter a double-dip recession like the EU did. During that time, the S&P 500 has gone from 1,257 to 4,183. There have been hiccups along the way, but with my time horizon, I'm not worried.

[rjackson44]

Originally Posted by pwang100

I never understood the saying " Could care less".. shouldn't it be " COULDN'T care less"?

Sent from my SM-G950U using Tapatalk

Couldn’t care less lol