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09-27-2011, 10:13 PM

#11

classicman

barely disguised asshole, keeper of all that is holy.

Join Date: Nov 2007

Posts: 23,401

Now, when you sell it, if you make a profit, that profit & principal is taxed.
How about the estate tax.

Quote:

If you make your living buying and selling, the profit you make from those sales is your income. that income is taxed. Where the money came from to make the purchase is irrelevant.

...and should be taxed at the income rate, not the capital gains rate?

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Last edited by classicman; 09-27-2011 at 10:19 PM. Reason: BV wins over spellcheck

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