Trump and Harris both have celebrity billionaires campaigning for them.
But I think I’d rather have Trump supporter Elon Musk on my side than Harris-pushing Mark Cuban. His candidate has such bad economic ideas that he’s forced to deny she really means it even as he attempts to promote her.
During a Harris campaign event in Arizona, Cuban was asked if Harris supports a big tax on unrealized capital gains. That means taxing the increase in value of assets, even if you haven’t sold them and taken the profit.
(Note: Before any possible tax changes, be sure to keep reading below. Charles Mizrahi has a tax code hack that could save you big money.)
Trump calls it “communism,” and even Cuban knows it’s an incredibly stupid idea and an economy killer. So he assured the questioner that Harris does not support that.
Problem is, she said in August that she did support it, and it’s one of the few leftist ideas she hasn’t taken back.
Elon Musk seems to be having a lot more fun stumping for Trump. Musk made a stunning revelation about one reason why he’s backing Trump and wants to head up a government efficiency office to eliminate needless regulations.
It was a jaw-dropping story about all the idiotic demands California regulators put on SpaceX before they would clear letting their rockets land in the ocean.
These ranged from studies of the likelihood of the rocket hitting a shark and then a whale, and forcing SpaceX to put headphones on a seal and play sonic boom sounds to study its reaction.
This is a must-read that’s already inspiring countless pro-Trump memes of headphone-wearing seals. It would be hilarious if you didn’t realize these loony bureaucrats were actually serious.
Of course, Musk is also being accused by leftists of violating election laws by giving away a million dollars a day to a random registered voter who signs his PAC’s petition.
But he’s not paying for votes or paying anyone to register. Not like Mark Zuckerberg, who spent hundreds of millions of dollars in 2020 registering voters, mostly in heavily-Democrat districts.
Apparently, it’s okay for billionaires to buy votes only when they’re buying them from Democrat office holders. And it’s okay to promise free money for votes only if you’re offering them other people’s tax money.
Director, Prosperity Research
The Secret to Paying Less in Taxes — Even When the Government Demands Its Share
He doesn’t get involved in your business or interfere with your decision-making.
In fact, he couldn’t care less … as long as what you do is legal.
At the end of every year, you have to answer to him — even if you’re self-employed.
He comes calling for his share of your profits.
Like it or not, the U.S. government is your partner. And it demands up to 37% of your income each year.
I don’t know about you, but paying taxes doesn’t put a smile on my face.
Like most Americans, I use the tax code to pay my fair share and not a penny more.
And many of the people I know are people of means.
They have teams of accountants and lawyers on retainer who know the tax codes better than they know their kids’ birthdays.
At the end of the day, many of them pay lower tax rates than their secretaries. But I don’t begrudge them.
In fact, I admire them. They know how to work the system while still playing by the rules.
That’s why I want to share with you a very simple, easy and legal way to put more money in your pocket instead of Uncle Sam’s…
Circle This Date to Keep More Cash
It’s a “hack” used every day by people in the know.
And all you need to do is buy a calendar that has more than 12 months.
Start by marking down the day you bought a stock.
Next, circle the same day one year later.
And then, make an X on the day after.
For example, if you buy a stock on November 12, 2024, you’ll circle November 12, 2025.
Then, you make an X on the following day, November 13, 2025.
If you want to sell the stock — and it shows a profit — make sure you don’t sell it before November 13, 2025.
With this simple hack, you used U.S. Code Title 26, Section 1222, on capital gains taxes to your advantage.
And that advantage can be a huge one…
Let’s say you bought $10,000 worth of shares in a quality business in 1992.
And over the next 30 years, the business did great and the stock climbed. In fact, its stock grew at a rate of 15% per year.
So, in 2022, you decide to sell your shares.
Taking the 20% long-term capital gains tax rate into account, your $10,000 would’ve grown to over $531,000.
But let’s say that instead of holding on, you traded the stock — buying and selling it every year — and still made the same 15% annual return.
Instead of paying a one-time tax, you’d have to pay a 37% short-term capital gains tax at the end of each year.
Your $10,000 investment would’ve grown to only about $150,000.
By using the long-term capital gains tax to your advantage, you would have walked away with more than $380,000 in your pocket!
The bottom line here is: It actually pays to be patient…
How Doing Nothing Could Save You Thousands in Taxes
Trading will only result in a large portion of your gains being deposited into the IRS’s coffers.
But by sitting on your hands and doing nothing, you can make a boatload more money.
As Charlie Munger once said:
“The tax code gives you an enormous advantage if you can find some things you can just sit with.”
All you have to do is buy a quality company when it trades at an attractive price, and then sit back, relax and let your tax dollars compound.
Use the IRS’ tax code to your advantage over the long term.
And if you really want to turbocharge these gains, the Alpha Investor Approach can put even more money back in your pocket.
If you’re already part of the family, you can check out our American Prosperity Report model portfolio to see which stocks are trading below their buy-up-to prices.
These stocks — including my latest recommendation — are still trading at attractive prices today. If you’re underinvested, now’s the time to buy more shares if you haven’t already.
But if you’re not part of the family yet, it’s not too late!
You can find out how to join over 100,000 Main Street investors just like you in accessing these market opportunities. Find out how right here.
Regards,
Charles Mizrahi
Founder, Alpha Investor