this post was submitted on 19 Sep 2024
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Microblog Memes

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A place to share screenshots of Microblog posts, whether from Mastodon, tumblr, ~~Twitter~~ X, KBin, Threads or elsewhere.

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Did I say mandatory? I meant optional! You're "free" to die in a cardboard box under a freeway as a market capitalist scarecrow warning to the other ants so they keep showing up to make us more!

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[–] Blue_Morpho@lemmy.world 1 points 2 months ago* (last edited 2 months ago)

Having diamond hands, you don't want to sell, but you owe 28% of the $90k you "made" on the stock, which can be spread out over 9 years.

No it can't. Unless you are proposing a radically different tax proposal. You owe 28% of the $90k that year. Not in 9 years. This year. $25k owed because a group memed a stock that you owned long before it was a meme.

As to my example being the exception, look at any long term stock chart and you'll see multi year increases and multi year declines. MSFT was the same price in 1998 and 2001. 3 years of paying taxes on a stock that gave you $0 capital gains and $0 losses. No tax break. Just a tax bill because of Internet stocks were popular for a few years.

Give me $25k today and I'll agree to pay you back over 9 years without interest. Deal?