U.S. stock ETFs avoided tax on more than $211 billion in gains last year' must be nice

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Post #428,156 by boxley 3/29/19 3:16:10 PM 3/29/19 3:16:10 PM Reply	U.S. stock ETFs avoided tax on more than $211 billion in gains last year' must be nice https://www.bloomberg.com/graphics/2019-etf-tax-dodge-lets-investors-save-big/ "Science is the belief in the ignorance of the experts" – Richard Feynman
Post #428,165 by drook 3/29/19 6:58:35 PM 3/29/19 6:58:35 PM Reply	Maybe I don't read so good ... I see everyone defending the legality of it, but I don't see a single explanation of why the loophole should exist in the first place. -- Drew
Post #428,169 by boxley 3/29/19 9:24:37 PM 3/29/19 9:24:37 PM Reply	nixon era, that help? "Science is the belief in the ignorance of the experts" – Richard Feynman
Post #428,170 by drook 3/29/19 10:32:44 PM 3/29/19 10:32:44 PM Reply	That's when they passed it ... but why Or is "Nixon era" the entire explanation? -- Drew
Post #428,173 by boxley 3/30/19 4:13:16 PM 3/30/19 4:13:16 PM Reply	the why Enter the Nixon-era tax law. In 1969, Congress decreed that mutual funds can hand over appreciated stocks to withdrawing investors without triggering a tax bill. Lawmakers never explained why they blessed the industry with this unique break, but back then, it didn’t seem like much of a giveaway. Mutual funds rarely took advantage of it, because their investors preferred cash payouts. I am going to assume that they didnt want to double dip on taxes, taxing the increase then taxing the income of the withdrawn investor. Nixon era was just to throw a time period and after a long time unintended consequences come into play. "Science is the belief in the ignorance of the experts" – Richard Feynman
Post #428,175 by drook 3/30/19 8:17:26 PM 3/30/19 8:17:26 PM Reply	That's a horrible reason for a law "There's not really a good reason for it, but it doesn't affect many people anyway so why not?" -- Drew
Post #428,172 by a6l6e6x 3/30/19 3:01:02 PM 3/30/19 3:01:02 PM Reply	That's neat! I no longer own any stocks directly. They're all in ETFs! Alex "There is a cult of ignorance in the United States, and there has always been. The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that "my ignorance is just as good as your knowledge." -- Isaac Asimov

U.S. stock ETFs avoided tax on more than $211 billion in gains last year' must be nice - (boxley) - (6) - March 29, 2019, 03:16:10 PM EDT

Maybe I don't read so good ... - (drook) - (4) - March 29, 2019, 06:58:35 PM EDT

nixon era, that help? -NT - (boxley) - (3) - March 29, 2019, 09:24:37 PM EDT

That's when they passed it ... but why - (drook) - (2) - March 29, 2019, 10:32:44 PM EDT

the why - (boxley) - (1) - March 30, 2019, 04:13:16 PM EDT

That's a horrible reason for a law - (drook) - March 30, 2019, 08:17:26 PM EDT

That's neat! - (a6l6e6x) - March 30, 2019, 03:01:02 PM EDT

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