Comment Re:Decent (Score 1) 482
If he is married, $70,000 puts him in a federal tax bracket where his long-term capital gains rate becomes 0%. He is doing this to pay 0% taxes on his stock that he cashes out and any other investments he has.
Really? A quick look at Wikipedia seems to support your statement, but surely this type of obvious loophole is easily plugged by putting some minimums or maximums into the tax code.
https://en.wikipedia.org/wiki/...
Can I really gather in all of my cap gains tax free by just making sure that year I have a low enough salaried income? So every decade or so I get my employeer to give me a $1 salary and make sure that in that year I liquidate all of my holdings and then reinvest them, and have thus avoided any tax on my millions of Cap Gains?
Of course, I actually do not have millions in unrealized gains to take advantage of this type of thing...