{"id":40525,"date":"2024-07-04T12:45:48","date_gmt":"2024-07-04T17:45:48","guid":{"rendered":"https:\/\/huewhite.com\/umb\/?p=40525"},"modified":"2024-07-04T12:45:48","modified_gmt":"2024-07-04T17:45:48","slug":"word-of-the-day-970","status":"publish","type":"post","link":"https:\/\/huewhite.com\/umb\/2024\/07\/04\/word-of-the-day-970\/","title":{"rendered":"Word Of The Day"},"content":{"rendered":"<p><em>Accrual tax<\/em>:<\/p>\n<blockquote><p>But Biden\u2019s third proposal \u2014 taxing unrealized capital gains as income \u2014 is just more trouble than it\u2019s worth. Capital gains taxes are collected only when you sell an asset. This has long irked progressives, who grumble at the idea that rich people are seeing their wealth increase by leaps and bounds every year without being taxed a penny.<\/p>\n<p>Biden\u2019s plan would \u201cfix\u201d this problem by taxing asset appreciation before the assets are sold \u2014 an idea that\u2019s sometimes called an accrual tax. But as I\u00a0<a href=\"https:\/\/www.bloomberg.com\/view\/articles\/2019-04-09\/democratic-plan-for-unrealized-capital-gains-tax-would-be-a-mess?sref=R8NfLgwS\" rel=\"\">wrote in Bloomberg<\/a> back in 2019, this could seriously hurt startup formation &#8230; [&#8220;<a href=\"https:\/\/www.noahpinion.blog\/p\/biden-is-right-that-we-need-to-raise\" target=\"_blank\" rel=\"noopener\">Biden is right that we need to raise taxes<\/a>,&#8221; Noah Smith, <em><strong>Noahpinion<\/strong><\/em>]<\/p><\/blockquote>\n<p>Rather like taxing someone&#8217;s imagination.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Accrual tax: But Biden\u2019s third proposal \u2014 taxing unrealized capital gains as income \u2014 is just more trouble than it\u2019s worth. Capital gains taxes are collected only when you sell an asset. This has long irked progressives, who grumble at the idea that rich people are seeing their wealth increase \u2026 <a class=\"continue-reading-link\" href=\"https:\/\/huewhite.com\/umb\/2024\/07\/04\/word-of-the-day-970\/\"> Continue reading <span class=\"meta-nav\">&rarr; <\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-40525","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts\/40525","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/comments?post=40525"}],"version-history":[{"count":1,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts\/40525\/revisions"}],"predecessor-version":[{"id":40526,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts\/40525\/revisions\/40526"}],"wp:attachment":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/media?parent=40525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/categories?post=40525"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/tags?post=40525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}