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I've explained why the new CGT rules are deeply flawed and could be a wrecking ball for the economy. But now the legislation has passed, it's time to be practical. In this video I explain five completely legal ways investors can reduce the impact of the new capital gains tax.

16,574 Aufrufe • vor 7 Tagen •via X (Twitter)

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Washington state has one of the most vibrant tech communities in the world, but it's under threat from the new anti-tech, anti-innovation, capital gains tax, passed in 2021. I was curious how tech workers felt about this tax so I visited Microsoft and Amazon (see video below). What I learned shocked me. Many employees of these companies (who receive a large portion of them compensation in the form of stock) were not even aware that Washington's legislature had passed a capital gains tax that would affect them. This was not by accident. Politicians in Olympia designed the tax to initially apply to a fairly small set of people (the threshold at which it applies is $250,000). For years they had attempted to create a widespread income tax in WA by initiative, but they were repeatedly voted down by Washingtonians. But once they found a way to open the door to this new capital gains tax (by absurdly claiming it's not an income tax, but an excise tax), they immediately set to work on making it more widespread. Bill 5335 has been introduced to modify the capital gains tax so that the threshold at which applies will drop to $15,000 (a 94% drop, massively expanding the net of people it applies to), while increasing the rate from 7% to 8.5%. The increase in rate would mean that Washingtonians would see a greater than 50% increase in their tax burden on capital gains (sale of stocks, bonds, cryptocurrencies and other assets such as small businesses). When I explained these facts to the tech employees I met at Microsoft and Amazon most of them supported a repeal of the capital gains tax. We have one chance to get Washington back to its long tradition of not punishing success and welcoming the world's best and brightest to our state. This election, please vote Yes on initiative I-2109. Vote yes, Pay less.

Vijay

63,045 Aufrufe • vor 1 Jahr

A concern many voters have about voting yes on initiative i2109 is the misleading description put on the ballot measure that gives voters the impression that if the capital gains tax is repealed it would reduce funding to Washington's education system and early childcare programs. This wording was written by a partisan office that opposes the initiative and has an obvious conflict of interest in providing Washingtonians with the truth. Chris Corry is the ranking member of the House Appropriations committee and has deep knowledge of Washington's budget. In this video he explains why Washington already has adequate funding for its education system and that the highly volatile revenue from the capital gains tax was unnecessary to fund programs. The truth is that proponents of the capital gains tax had spent years trying to find a way to introduce an income tax into Washington. By creating a capital gains tax and cynically telling Washington voters that "if you don't support it, our kids education will be harmed" they managed to open the door to a broad-based income tax. Within a year of creating the capital gains tax, which they marketed as only applying to the rich, they introduced legislation to lower the threshold at which it applies dramatically so the tax would apply to the vast majority of people in Washington who own stocks, bonds, cryptocurrencies or other assets. Real-estate and retirement funds are exempt for now, but given Olympia's proclivity for increasing and expanding taxes, this will not last long. Listen to Representative Corry's explanation for why the wording on the ballot measure is so misleading and vote Yes on i2109 to repeal Washington's backdoor income tax. Vote yes, pay less.

VijayInWA

13,966 Aufrufe • vor 1 Jahr

Why is Mr. Lakshmi Mittal and thousands of other millionaires leaving UK this year? Last year over 250k British nationals left the UK... and in the current year, almost 16k millionaires are expected the have left the UK... It's because of a major law that is proposed to be passed in the UK Parliament that none of the wealthy people like... To understand this, let's first understand why the Global Wealthy were in the UK to begin with... The Global Wealthy would go to the UK because the country had a Non-Dom Regime... which basically meant that all the incomes earned by UK residents in other parts of the world and all such capital gains would not be taxed... For example, in India, your global incomes are taxed if you are an Indian tax resident... Now there are three major changes that have happened that made millionaires pulled the trigger... 1/ In Oct 2024, the capital gains tax was increased from 20% to 24% 2/ In April 2025, UK abolished the Non Dom regime by which global incomes become taxable in the UK... and more importantly 40% inheritance tax becomes payable even on assets outside of the UK. 3/ And now the third issue... where the Govt is now proposing to levy a 20% exit tax on unrealised gains on these assets, which are not even sold, but only appreciated in value Now where are all these people going? Most of these people are now going to Dubai... No personal income tax, no wealth tax, no inheritance tax, no capital gains tax, no dividend tax... Absolute safety - no crime... and corporate tax is just 9% while you get all the first world facilities while being close to Asia as well as Europe. If you have to move somewhere globally, the best bet right now is the UAE.

JIX5A

57,632 Aufrufe • vor 7 Monaten