I have been hoping this administration would cut or even eliminate capgains taxes.
I should be careful what I wish for. 😵💫
Funny, but I'm sure most of the people in this thread are still sitting on massive capital gains. For me personally, the difference between paying capital gains taxes on $100K Bitcoin or selling tax free at $80K isn't all that much of a difference... Just putting things in perspective.
With such huge gains this year I think it was obvious we'd see a correction as people liquidate to pay their tax obligations. Trump seemed to magnify that by using this time to implement his tariffs. Almost like they wanted the price to fall... Like they were planning a buy in the near future or something...
What I have a hard time understanding about all those who made huge capital gains — let’s say high 7 digits, but more realistically 8 digits — is this:
Why stay a tax resident in a country that taxes your capital gains? (Especially when, let’s be honest, you should’ve left well before this cycle.)
And for the unlucky U.S. citizens: why haven’t you renounced your passport after securing a second (and ideally a third one), instead of keeping that Uncle Sam noose around your neck?
In short...some people are like trees: they have roots.
Additionally, when you are tilting toward later years the idea of playing a playboy in Dubai does not really resonate.
Finally, US long term cap gains tax is a "tolerable" 23.8% max with the first $96.5K (for 2025) of
tax for a married filing jointly.