Hacker News Reader

Comment by bruiseralmighty | Hacker News Reader

Actual nonsense coming out of this government. As a life-long resident one of the main reasons I continue to work in Washington is the lack of an income tax.

Exempting real estate is just an extra middle-finger to anyone young and trying to save.

This is so painful and short-sighted. Earmarking for education is yet another typical smoke and mirrors 'saint-hood' performance that this government puts on for its low-info voter base.

If all of that money can still be proven to be going towards childhood education by 2023, I'll deep-fry my socks and eat them. Hopefully we can get a State Supreme Court judge to knock this down as unconstitutional.

View on HN

> anyone young and trying to save

It says the first $250k is exempt. Not a lot of young savers pulling down $250k in cap gains annually.

That was the FAANG stocks doing the thinking

I don't think FAANG young engineers earn $250k cap gains a year.

https://www.levels.fyi/

RSUs are ordinary income, not capital gains.

RSUs are taxed as ordinary income but when they vest they become (usually) class A shares. The sale of those shares will incur capital gains taxes, if there is a gain.

So sell just enough to stay under the $250k/year in cap gains. I'm still not seeing a problem here.

Sale at time of vest would have zero or likely negligible capital gain/loss, and then it's the same as any other income. Yes, if you hold the shares (much like buying any other stock with your income), and it appreciates, you would have capital gains.

Re levels.fyi, the compensation figures are just time of vest.

This is total income, not cap gains man.

when you sell your stonks, then that becomes capital gains

No it doesn't, unless stock grows much.

Managing real estate is a magnitude more difficult than managing 100 shares of Tesla or maintaining a website.

Let’s agree that value creation should not be the target of taxes. Sin or consumption on the otherhand would be more rational. Can someone enlighten me on the case for taxing value creation and not value consumption?

Reply on news.ycombinator.com