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Not following the logic here. Seems to me the problem is the tax code that
obligates citizens to pay taxes on "unrealized gains", or paper profits. To
be consistent, homeowners in silly-con valley should pay federal taxes on
the 'unrealized gains' of their property values every year. Owners of '57
Chevy convertibles should pay taxes on the 'unrealized gains' of the car
value. After all, isn't it just greed that the Chevy employee put a brand
new car in his garage in 1957, and now it's worth way more than most people
pay for new cars. Just greed, right?
Is this the impression you intend to give?
If you want the government to punish people with tax policy, you should be
careful what you ask for, lest some taxman cometh saying, "I'm from the IRS,
and I'm here to help you."
I strongly contend it's the government that's greedy, not someone who tries
to leverage his financial situation.
Naturally there will be replies to the effect that the government deserves
the money more than the citizens do. I absolutely disagree. However, there
is nothing in the tax code that prevents anyone of that persuasion from
quadrupling their own tax 'contributions' if they think their taxes are too
low.
Michael: WL7BDN@xxxxxxxxxxxxx
----- Original Message -----
From: "Ira Tunik" <irat@xxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Saturday, June 23, 2001 09:42
Subject: Re: [RT] Tech workers upset that they owe taxes on underwater
options
> They couldn't even sell enough stock to cover the taxes. that is real
greed
> and now we are supposed to pay.
>
> Me wrote:
>
> > Driving the economy into recession and raising living costs to insane
> > levels wasn't enough for the tech industry, now the option babies are
> > upset because their stock options are underwater and they owe big
> > taxes. Sheese. I know people who have gotten into this situation
> > and it all occurred because they were greedy. They didn't sell their
> > options at exercise time, instead choosing to hold onto the stock so
> > they would pay less taxes down the road. Will Congress succumb and
> > bail them out like AG has bailed out the big companies that made the
> > wrong decisions?
> >
> > The Valley's Tax Revolt
> > By Scott Harris
> >
> > Tech workers are taking a big tax hit on their stock options. Will
> > Congress come to the rescue?
> > http://www.thestandard.com/article/0,1902,27355,00.html?nl=int
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
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http://docs.yahoo.com/info/terms/
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>
> To unsubscribe from this group, send an email to:
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