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Tech execs fight against stock-plan tax | |
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| Time: 00:00 EST/05:00 GMT | News Source: CNET | Posted By: Todd Richardson | ||
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Tax experts from Microsoft and Texas Instruments are among speakers expected to testify Tuesday at a hearing before the Internal Revenue Service and the U.S. Treasury Department in opposition to proposed taxes on stock incentive programs. | ||
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| #1 By 20 (24.243.51.87) at 5/13/2002 11:27:49 PM |
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I don't get this.
From what I understand, the stock isn't "worth" anything until it's sold, at which point capital gains taxes kick in. I know first hand that capital gains taxes are already outrageous (I though the Democrats said we give tons of tax breaks to the rich?). So the IRS now wants to tax the stocks, and then tax the capital gains? How does that work? |
| #2 By 4209 (163.192.21.14) at 5/14/2002 9:31:01 AM |
| This is a load of crap. Why the hell do they need to tax me more if I exercise an option, don't they get enough? I am against this crap and I don't even get that many options. Our company gave options this year instead of raises because of the crap economy, and now the Government wants more money out of us, since the companies could not afford to compensate there employees. The company I work for gave 17000 employees options this year, I think the Feds will make more than the estimates, and that is just wrong. |
| #3 By 135 (209.180.28.6) at 5/14/2002 2:46:56 PM |
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#4 - "and may well lead to the demise of many programs."
Actually that's sort of the point... Many companies are abusing these programs. |
| #4 By 4209 (163.192.21.14) at 5/14/2002 3:07:31 PM |
| #3 I do not like paying taxes on money I do not have. What if one year the stock goes way up and the next it falls down below the previous years value. I have already paid tax on the higher amount, and then get retaxed for a lower amount, yet I have yet to actually see any of the money I am being taxed for. The current system as far as Options are concerned, yo get taxed for the gains wen you exercise them. Otherwise the money is not there, and the gains can change on a daily basis, I don't know about you but if I don't have the money in my account or on my person I do not want to pay taxes on it. When I have the money in hand then you can tax me. And Enron did not fall from giving out Options, they fell because the hid hundreds of millions of dollars in companies that were fake or created just to hide the money in. And they paid them way more than they should of. Then they shreded the evidence. Anyow the employees did not get any of that money, so the point is moot. |
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