Skip to content
 
If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(CNBC)   America's 1% have sold $69 billion in stock this year. Presumably to finance their current and unending supply of hookers and blow   (cnbc.com) divider line
    More: Obvious, Taxation, Satya Nadella, Microsoft CEO Satya Nadella, tax hikes, Jeff Bezos, Adam Aron, Elon Musk, corporate insiders  
•       •       •

256 clicks; posted to Business » on 01 Dec 2021 at 7:16 PM (6 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



30 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2021-12-01 6:25:48 PM  
Probably a good time to get out of the market.
 
2021-12-01 7:16:21 PM  
I'm sure it's just so that it can trickle down.
 
2021-12-01 7:31:14 PM  
Somebody had to buy it. Who has that kind of money lying around?
 
2021-12-01 7:32:30 PM  
If only there was a way to tax that sort of behavior in a more equitable way
 
2021-12-01 7:39:52 PM  
Why wouldn't they? Retail investors rocketed so many stocks to record places and those that are pros, sold. 

I was just talking about this with a few people earlier, it's one of the greatest wealth transfers from those that are not rich to those that are. Just look at AMC, their board is 75% divested, their CEO owns no more stock, yet he's still trying to pump it up. Meanwhile all the meme-stock holders are shiatting their pants because all those gains are getting more and more wiped out.
 
2021-12-01 7:40:39 PM  

AlgaeRancher: If only there was a way to tax that sort of behavior in a more equitable way


It's around 49% taxed, unless it is a loss. Each sale of stock gets a cap gains tax though (unless solely managed in funds - which is different).
 
2021-12-01 8:07:56 PM  
Rich people always sell off stock when the Democrats sweep into power. Lots of fears of raising taxes and such as.

Pandemic and wonky economy haven't helped either.
 
2021-12-01 8:14:18 PM  
1/7th of that came from Elon Musk
 
2021-12-01 8:56:27 PM  
$69B? Nice.
 
2021-12-01 8:56:46 PM  
The selling is likely to increase even more as December is often an active month for sales due to tax planning.

And to buy their kids the GI JOE with the kung fu grip
 
2021-12-01 9:17:38 PM  

phimuskapsi: AlgaeRancher: If only there was a way to tax that sort of behavior in a more equitable way

It's around 49% taxed, unless it is a loss. Each sale of stock gets a cap gains tax though (unless solely managed in funds - which is different).


WAT? They're most likely long term capital gains. They will be taxed at 20% plus 3.8 net investment income tax, so at most at the federal level they will pay 23.8 %. Any short term gains will be taxed as ordinary income at your highest marginal rate which would be 37%, or less.
 
2021-12-01 9:25:09 PM  

Mad_Radhu: $69B? Nice.


Pocket change.

That represents about .1% of their wealth.  Out of ever dollar they owned, they "spent" a tenth of a cent.

Sounds like we need a farking wealth tax, kicking in at about $10M in wealth.
 
2021-12-01 9:44:19 PM  

edmo: Probably a good time to get out of the market.


I don't know that they're getting out entirely. More likely just locking in some profits so they can have some cash in the bank. It's kind of like taking a few chips off the table every couple games and putting them in your pocket so you don't go home broke.
 
2021-12-01 10:07:36 PM  
We keep funneling money to corporations to do stock buybacks in order to artificially raise the stock price, they would be idiots if they didn't take advantage of what the government has allowed them to do.

We just passed another hand-out bill to make sure the bubble keeps getting pumped up.
 
2021-12-01 10:19:44 PM  

Red Shirt Blues: phimuskapsi: AlgaeRancher: If only there was a way to tax that sort of behavior in a more equitable way

It's around 49% taxed, unless it is a loss. Each sale of stock gets a cap gains tax though (unless solely managed in funds - which is different).

WAT? They're most likely long term capital gains. They will be taxed at 20% plus 3.8 net investment income tax, so at most at the federal level they will pay 23.8 %. Any short term gains will be taxed as ordinary income at your highest marginal rate which would be 37%, or less.


States have capital gains taxes as well. 

Federal is 37% at max, and then, for example, CA has a 13% tax rate on cap gains. NY is around 8%.
 
2021-12-01 11:14:10 PM  
And who, precisely, did they sell all this to?

Oh, us? Well, fark.
 
2021-12-02 2:15:39 AM  

zimbach: Somebody had to buy it. Who has that kind of money lying around?


Your pension fund.
 
2021-12-02 4:09:44 AM  

137 Is An Excellent Time: And who, precisely, did they sell all this to?
Oh, us? Well, fark.


image.cnbcfm.comView Full Size


external-content.duckduckgo.comView Full Size


It's going to start trickling down any day now.
 
2021-12-02 6:39:23 AM  

phimuskapsi: Why wouldn't they? Retail investors rocketed so many stocks to record places and those that are pros, sold. 

I was just talking about this with a few people earlier, it's one of the greatest wealth transfers from those that are not rich to those that are. Just look at AMC, their board is 75% divested, their CEO owns no more stock, yet he's still trying to pump it up. Meanwhile all the meme-stock holders are shiatting their pants because all those gains are getting more and more wiped out.


Murcas 1% are destroying murca
 
2021-12-02 6:41:30 AM  

phimuskapsi: AlgaeRancher: If only there was a way to tax that sort of behavior in a more equitable way

It's around 49% taxed, unless it is a loss. Each sale of stock gets a cap gains tax though (unless solely managed in funds - which is different).


Capital gains tax is 15% sweetie if the stock is held longer than 1 year.

Payroll taxes are a bit higher......
 
2021-12-02 6:42:30 AM  

phimuskapsi: AlgaeRancher: If only there was a way to tax that sort of behavior in a more equitable way

It's around 49% taxed, unless it is a loss. Each sale of stock gets a cap gains tax though (unless solely managed in funds - which is different).


Whats it like being a con man anyway??
 
2021-12-02 6:43:55 AM  

Ishkur: Rich people always sell off stock when the Democrats sweep into power. Lots of fears of raising taxes and such as.

Pandemic and wonky economy haven't helped either.


Rich turds dont like Democracy.

GOP doesnt like it either
 
2021-12-02 6:44:58 AM  

Red Shirt Blues: phimuskapsi: AlgaeRancher: If only there was a way to tax that sort of behavior in a more equitable way

It's around 49% taxed, unless it is a loss. Each sale of stock gets a cap gains tax though (unless solely managed in funds - which is different).

WAT? They're most likely long term capital gains. They will be taxed at 20% plus 3.8 net investment income tax, so at most at the federal level they will pay 23.8 %. Any short term gains will be taxed as ordinary income at your highest marginal rate which would be 37%, or less.


Stock held over 1 year is 15% taxed
 
2021-12-02 6:45:26 AM  

MadHatter500: Mad_Radhu: $69B? Nice.

Pocket change.

That represents about .1% of their wealth.  Out of ever dollar they owned, they "spent" a tenth of a cent.

Sounds like we need a farking wealth tax, kicking in at about $10M in wealth.


Duh!!
 
2021-12-02 9:50:42 AM  

Linux_Yes: phimuskapsi: AlgaeRancher: If only there was a way to tax that sort of behavior in a more equitable way

It's around 49% taxed, unless it is a loss. Each sale of stock gets a cap gains tax though (unless solely managed in funds - which is different).

Capital gains tax is 15% sweetie if the stock is held longer than 1 year.

Payroll taxes are a bit higher......


Short term gains sweetheart - which is what most of these traders are doing. Please keep up, otherwise people might think you a moron.
 
2021-12-02 10:11:28 AM  

phimuskapsi: Linux_Yes: phimuskapsi: AlgaeRancher: If only there was a way to tax that sort of behavior in a more equitable way

It's around 49% taxed, unless it is a loss. Each sale of stock gets a cap gains tax though (unless solely managed in funds - which is different).

Capital gains tax is 15% sweetie if the stock is held longer than 1 year.

Payroll taxes are a bit higher......

Short term gains sweetheart - which is what most of these traders are doing. Please keep up, otherwise people might think you a moron.


Iow
Day traders
Otherwise known as casino players on the stock market

Not investors.

Beats working for a living and creating something of value.

Sweetie
 
2021-12-02 10:14:14 AM  

neaorin: zimbach: Somebody had to buy it. Who has that kind of money lying around?

Your pension fund.


U just ruined someones sleep.

Lolzz
 
2021-12-02 10:42:43 AM  
69 billion is pocket change to the 1%.
 
2021-12-02 11:34:45 AM  

phimuskapsi: Linux_Yes: phimuskapsi: AlgaeRancher: If only there was a way to tax that sort of behavior in a more equitable way

It's around 49% taxed, unless it is a loss. Each sale of stock gets a cap gains tax though (unless solely managed in funds - which is different).

Capital gains tax is 15% sweetie if the stock is held longer than 1 year.

Payroll taxes are a bit higher......

Short term gains sweetheart - which is what most of these traders are doing. Please keep up, otherwise people might think you a moron.


And for the 1%, long term capital gains tax is likely 23.8% (federal only).
 
2021-12-02 4:59:25 PM  

Linux_Yes: Red Shirt Blues: phimuskapsi: AlgaeRancher: If only there was a way to tax that sort of behavior in a more equitable way

It's around 49% taxed, unless it is a loss. Each sale of stock gets a cap gains tax though (unless solely managed in funds - which is different).

WAT? They're most likely long term capital gains. They will be taxed at 20% plus 3.8 net investment income tax, so at most at the federal level they will pay 23.8 %. Any short term gains will be taxed as ordinary income at your highest marginal rate which would be 37%, or less.

Stock held over 1 year is 15% taxed


No max cap gain is 20%. Been a cpa for 30 years. You don't know d*ck.
 
Displayed 30 of 30 comments

View Voting Results: Smartest and Funniest

This thread is closed to new comments.

Continue Farking




On Twitter


  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.