46 supporters are primarily illegal immigrants and underemployed college kidd
Which are also the primary demographic of the Democrat party entirely..
And these people don't typically invest in the stuff nor do they care all that much about how the job market is doing
Most of them are perpetually under employed anyway and not investing in the market. They want free stuff and welfare. Which is exactly what you can afford to pay for if you raise taxes. Sure it kills the stock market sure destroys the job market
but biden's and the Democrats core voter demographic don't participate in the stock market or the job market
I can already hear the press secretary: "Listen, uh... we all know where the Resident stands on taxes. He wants fairness, and to make sure that everybody pays their fair share." AKA complete bullshit.
Fair share of taxes is fucking zero. I'm so tired of politicians who make so much that taxes don't concern them at all, telling everyone else they must pay more and more.
It's like taxes are a tithe to the church of government and not wanting to pay makes you a heretic.
Exactly right..they do not care because it does not affect them..Biden knows this. Government hand outs keep his base voting/ballot counting. Socialism/Communism is the goal.
So here is a serious take on this, and you can tell me if it is inaccurate because I have zero investments anyway, because I am poor as fuck and always have been. Poor white trash and all that.
The point in investing was so the company would put it into research and development, develop new products, and thus, make money back later. it was to drive innovation and invention.
However, investing now is investing in profitability, its investing for investings sake, not for innovations sake. Can we name a single company that has improved its customer products through the investment stock trading has created for them? Ford wasn't a public company until the car was already built. SpaceX is a pet project of a man siphoning his own money off to it instead of an investment for further progress from the outside. ESG certainly isn't making products better. Apple was innovating to beat the competition, and Facebook and Google didn't come public until they were already well established as the top of their fields anyway. Sure airplanes, cars, light bulbs have improved vastly, but that is off of competition and selling to customers, not from investors.
Its money creation in the old tiny hat money creation scheme.
No, the point is to buy ownership in the corporation. Shareholders have voting rights and votes control the corporate leadership as to how they will direct the company. Longs get wiped out if poor leadership drives the company off a cliff.
Shareholders can get rewarded capital appreciation of the shares or through dividends.
I'm not sure if you're dense or just slow but that's literally the definition of capitalism.
I invest in IBM because I think IBM is going to be profitable and my ownership in the company will either return dividends (profit) or be worth more tomorrow than it was today.
Facebook and Google didn't come public until they were already well established as the top of their fields anyway
They still had thousands of investors that gave them buckets of money hoping in the future they'd get multiples of buckets back
I see. You’re part of it and in on it. Either through ignorance or greed or actual partaking in the active and malicious destruction of society.
You want to make money from money. Not from goods, services, or products. So much so you don’t know the original intent in the Jewish scheme you are so heavily defended. That’s okay. That is why we are here. To wake people like you up.
The point in capitalism isn’t to make capital from previous capital. It’s to make the best products and services to earn the most capital and then use than capital to make those services better to earn more capital to make those services better to earn more capital.
It’s to drive innovation, creation, and competition. Not to generate money from thin air. Your investment is supposed to lead to more and happier customers who reward that investment with products sold, not with fake market prices manipulated by people who fuck kids at their whims.
Even my staunch Democrat NPC mother is waking up. I know a few others that are now finally asking questions.
There's still plenty of retards out there though. They could be living in a post-apocalyptic shit-hole with nothing but a can of beans and still hate Trump.
This is the perfect Democrat play. The capital gains tax only hits the rich, so everyone other than the 1% can get behind increasing it. Except that it also hits homeowners, small business owners, investors and retirees. Not every year, just often enough for us to make funny memes about how they fucked themselves too when they thought they were fucking us.
This reminds me of a story in California complaining that their Rents went up after property tax was voted on and increased. I think it was some kind of townhall and someone stood up and said, "we voted to increase property taxes not our rent!"
People seriously fail at seeing the big picture sometimes.
This is always the tactic, but the real culprit, most of the time, is government regulations.
Don't like that healthcare is so expensive? It's mostly due to government regulations.
Don't like how college is so expensive? It's mostly due to government regulations.
Hate car dealerships? It's mostly due to government regulations.
And who do they blame?
Greedy hospitals!
Greedy colleges!
Greedy car dealerships!
I didnt even think about the term useful idiot unril you put it in writing. Thats exactly what they are.
I agree with your sentiments about capital gains tax. Everyone thinks capitalism is some greedy system. I love the people at my work when they try to say something disrespectful about Trump. I point out that from 2017 through the begining of 2021 this company added 9 salaried manager positions. That was the most explosive growth weve ever had. Thats 9 jobs that pay 70k a year or better that we didnt have before and they are unknowingly currently in one of those positions. They should be thanking Trump every chance they get because if the economy didnt boom like it did, the transportation sector wouldnt have seen the growth it did. When more products are made in the U.S., there is more of a strain on transportation to move raw materials to make the product and to get the finished product to the market.
Im sure it was so.e kind of bait and switch from corrupt politicians. "Increases taxes this much and this service we do will get this much better" meanwhile it juat means they can pocket more money.
Like why can't they do what they need to do with the budget they have?
Who are they hiring for these jobs?
What is being paid out and where?
I remember getting an itemized summary from the tax office downtown to find out where my tax dollars were going. Had to do this for school and I went above and beyond and starting calling up the tax office to see if someone could explain why a large chunk of my tax dollars were going to maintain a park that was on the other side of town, and why it would be my responsibility for it when it's not even in the same zip code as me.
Of course I was given bullshit answers and that I would need to bring it up to my local county office and speak to my rep to see what we could do about it.
Problem is, my rep is corrupt as they come (Democrat of course) so when I called his office for an inquiry, they never responded back to me. Called a few times and even wrote emails. Just got general automated email responses and was put on a mailing list. I had to eventually block them because no matter how many times I would click to unsubscribe, I was put back on.
I just wish more people would take the extra effort to see where their money was going and why. Problem is, they would all become republican / libertarians overnight and the Dems can't have that.
Btw, the professor who had me do the research was a Trump guy. Me and him got along really well.
It hits the middle class quite hard. We buy and sell precious metals, crypto, stocks and houses as well. You don't have to be the 1% to do any of those. It will rankle a lot of people.
The fact is taxes always end up, hurting the middle class and poor the most does anybody really think the big businesses are just going to “take the loss”
It's all part of the "you'll own nothing" agenda and modern monetary theory. Read up on that voodoo shit. The government prints unlimited money and does unlimited taxation to take that money out of the economy and there is no inflation and the people owns nothing. Perfect slavery based system.
At some point, people are seriously going to have to take a stand and not only refuse to buy the garbage that globalist corporations sell, but refuse to sell anything to them as well, most importantly, their labour. Even the biggest corporation can't function without employees, so people need to assess whether their paycheck is worth the fact they're working for their own enslavement.
Functioning without employees is the goal. That's why Boston Dynamics and ChatGPT exist. Then the globalists won't even need to pretend they need us anymore, and can simply push the button to activate the "vaccines".
Red States are already doing that by starting their own bullion reserves. I keep talking to family members, getting no traction on precious metals just in case the dollar goes boom.
I’m not rich but last I looked my household is in like the top 10%. People don’t seem to understand population incomes break down. There is a big difference from my life and that of someone in the top 5 or 1 percent. And I sell stocks and crypto.
Hedge funds are the only source of equity financing for right wing businesses, that is why democrats hate them. Leftwing business are just publicly traded
It's not just the rich by a long shot. It's anyone that sells a house, has a 401k, IRA, etc. Anyone that's retired is going to get nailed to the wall with this. You're basically talking about an income cut of 25% to every retired person in the United States at a time when inflation is doing nothing but going up.
Roth IRA account is starting to look like the best break uncle Sam ever cut me if this happened. Won't matter much though if proposed 40% capital gains tax drives everyone out of the market. At some point the returns are not worth the risk. It's probably all hot air anyway.
I don't trust the government enough not to tax the Roth IRA at some point. They double dip everywhere else, why not triple dip on the Roth IRAs? It's kind of like how Clinton didn't cut social security, he just proposed an income tax on it.
Wall Street owns the dems, so this would never pass. But he gets to suggest it to curry favor with the poors and then blame the GOP when it goes nowhere. Honestly, GOP should dare the dems to pass it. Just vote present and let the dems have it if they want it so bad. They will be exposed for what they are.
Capital gains is extra tax beside the usual income tax.
It's paid every time you earn money through other means than working.
For instance, any good investment, stocks, interest on savings etc, boom government want 40%, if you own a business all the profit are "capital gains".
It isn't an extra tax it is an alternate tax. Capitol gains are taxed differently than other income. The idea is you tax long term capitol gains at a lower rate to encourage investment and make people's saving available as funding for businesses.
He's talking about sales tax, that means 0% income tax.
Also keep in mind that sales tax, instead of income tax:
Force criminals and the top 1% to pay a lot of tax too, not just low wage workers
Provides financial privacy for private individuals as there's no longer any excuse for the government to know how much money you have or what you spend it on.
The point is, civilization can exist without taxation. As long as you live inside the overton window of the state you'll only make arguments they approve of.
Edit: to the supposed patriots downvoting. AMERICA LITERALLY EXISTED UNTIL THE CIVIL WAR WITHOUT TAXATION AND UNTIL 1894 WITHOUT PEACETIME TAX. I'm literally just right civilization went on just fucking fine. So unless ya'll are just denying history like a group of faggot lefties, maybe buck up and go learn about the fucking country you claim to love. Fuckwits
And that's how sales tax works, only if you need the government you pay tax. If you live off grid and produce everything you need locally you pay no tax at all, and the government can fuck off trying to audit your private economy, like they would legally do with income tax.
Tax should be optional, otherwise it's theft. And you do need some sort of public funding system if you don't wanna end up like Somalia, which is a 100% tax free society.
The problem with sale only tax is that, of all taxes, it DOES target the poor more than anyone else. The rich have excess money to spend, or not, on whatever they want. But at the end of the day, that 7% comes right off the bottom line of everyone because necessities are shared regardless of income. So flat taxes do specifically impact the poor more than the rich.
Honestly, tiered income taxes are reasonable if the tax itself is reasonable. I'm talking 5% tiered to 20% MAX. That's it. Not a penny from any other source. I'm not opposed to government (taxation =theft people) but what we have now is completely insane. I too like roads and water and people are unreasonable. No one wants a road through their property, but everyone likes roads. And if the road has to go there, granny angry pants has to be reasonable, just like the government has to be reasonable with their usage and payment for such.
One thing that should ABSOLUTELY be true, is that everyone should pay SOME form of taxes and that every tax hike should be felt universally. While the impact should not be equal, it should be felt by all. This "TaX tHe RiCh!!!" BS, as a mid sized business owner, is almost enough to put me over the edge. I promise, that $1200 tax you pay and get back is not taxation. I've felt taxation.... It's terrible. But I'm still not opposed to it.
Also, I believe income tax should be paid weekly, in cash, at a bank, to a man with a loaded gun. No more of this withholding BS. People need to understand what's happening for real, every time.
Edit: Wow. People really buy into this "rich pay no income taxes and the poor do" thing on here. It's liberal nonsense everyone. For anyone interested :
How does it target the poor people more? Poor people work, often multiple jobs, since they're poor they can't afford much, hence won't pay much sales tax.
Rich people and criminals knows how to avoid paying income tax by using various accounting tricks to make it appear as if they have $0 income, hence $0 in income tax.
With sales tax, especially rich and criminals will pay the most tax because they consume the most luxuries.
If the flat rate is a problem, then use different rates, lower for essential items and higher for luxuries. Normally you pay no sales tax on things like rent, but you do pay sales tax on utilities. This is very beneficial for poor people.
An interesting alternative to this is Georgism. The only thing you tax is base land value (not factoring in improvements.) This encourages efficient land use and land improvement. It also penalizes foreign land investors.
Henry George didn't like that privately created wealth is taxed and socialized. Meanwhile land value does tend to be created by society itself. He believed the end result would a society with a lot of liberty while still being able to maintain infrastructure.
Democrats win by promising a bunch of free shit so why not? We're already fucked anyway. Free college, free housing, $50 minimum wage, free car. At least that way they won't be able to give it to Israel and Ukraine and we'll be able to win elections.
On a positive note, if he were to go this route there will be a mass house sell off before it takes effect. How many people would distribute their 401k early? I mean, it's just a 10% penalty for doing so. How about stocks? People would sell off long term assets to avoid it. This wouldn't be just an unfortunate downturn, it would be an outright dissolution of the economy just by shear panic.
If this tax hike takes effect what will happen is anyone who is a short-term investor in real estate will sell to be able to lock in the lower tax rate. If prices in housing crash then you will see people selling stocks to buy real estate as a "never sell" type of asset. That's what will happen if these tax hikes take effect. It will discourage the rich from ever selling assets.
These high-tax "tax the rich" schemes were tried in other countries and the end effect is that the government actually saw DECLINING tax revenues because everyone simply shifted their behavior to minimize paying the tax. Well with assets, the "tax minimization" strategy is pretty simple: never sell.
That's the whole point - the Marxists who are in charge of our country now don't want anyone getting ahead (unless they are politically connected bigwigs).
Yep. The only source of investment money a company should depend on are the ESG-backed globalist funds (as long as said company "behaves" accordingly). Almost like communism or something.
This effin joke of a 3rd term POS basement earpiece commie "prezdent" is trying to cause crisis to make himself the hero who turns on emergency powers to fix it with overreach. These scumbags need to be thrown the hell out of govt!
You can tell most Democrat Communists have never had to judge risk vs reward for anything, because they have never had a real job or needed to invest the money they made without insider trading.
You have hit on the real danger of the Democratic Party. Not only has it created its own culture, but a parallel economy (although a parasitic one) as well.
Isn't that the main reason communism and socialism wind up in financial ruin? They suck the blood out of the economy and return very little. The same may be said of the welfare state economies such as Chicago, New York, and Los Angeles.
Considering the demographics of political patronage, you're actually better off on welfare, financially. It is really the working people and their kids trapped in the cities who get screwed.
short term just uses your normal income. So if you made $100k whatever capital gains you make goes as income. So 50k capital gains just means you earned and are taxed for $150k income. If you made $0k and had $50k short term you tax against $50k in income.
The only time you get the 20% is long term capital gains, so any asset held for 366+ days.
So... you are going to penalize people for holding onto assets. Since the highest tax bracket is 36%...
Therefore, the highest tax you would ever pay on short term gains is 36%... But with this, if you decided to hold onto the risk longer, and let the market use that money/asset to earn more money, you are penalized?
Ya and then combine that with the chief central banker continuously declaring that they need to keep jacking interest rates because of the problem THEY caused, and the stock market is definitely going to keep tumbling for the foreseeable future.
Right now bond yields are 5%. Why would anyone put money in the stock market as it's collapsing when they can get a guaranteed 5% rate on bonds? They won't.
What we've witnessed the last few years is the biggest transfer of wealth in human history. What most people don't realize is that when government prints a bunch of money to cause inflation, the person who spends it first makes out like a bandit because they get to spend the money on tangible assets with the old prices BEFORE the new money has a chance to devalue everyone else's. And what did we just see all the central bank investment companies like Blackrock and Vanguard do? Yup, bought up a ton of real estate. Now they manipulate investors into funding the debt they just created through rate manipulation.
If the American people ever allow private banks to control the issue of their currency first by inflation then by deflation the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered - Thomas Jefferson
Gen z here. Older side of it though. We all make jokes about one day owning a cardboard box or the real dream. A van by the river. We know we're probably fucked unless we inherit.
What most people don't realize is that when government prints a bunch of money to cause inflation, the person who spends it first makes out like a bandit because they get to spend the money on tangible assets with the old prices BEFORE the new money has a chance to devalue everyone else's.
This is such an important point! The increased purchasing power before prices rise is free money for the connected! They reap the benefits of more money created from nothing and the rest of us are burdened with the consequences of it (more inflation and higher prices while our money is worth less).
Stock market, real estate market, crypto markets, precious metals, selling your shit on eBay. Pretty much any means of making a living or creating passive income other than wage slaving will be wiped out by such a move.
The funny thing is that this only fucks the poors; rich people like me never sell stock, we borrow against it, and since the loan is fully secured by the stock, the rates are great, on the order of 2% or less these days, and I can make the interest I pay tax deductible if I wrap it in an investment LLC.
Only poor people sell stock and are subject to these rates.
I hold forever. When I die, the original debt is against my estate but the stock has grown so much since then it doesn't matter and the estate pays it off. The stock wrapped in a trust passes to my heirs at stepped up basis. They then borrow against it and start the process again, never selling.
The federal government stealing 20% was already ridiculous. Then the state takes their cut too. They help themselves with the gains, but they don't cover any of the losses. Another government theft program just like income taxes and property taxes.
Lol what a fuckin joke this guy is
Campaigned on not raising taxes
Raises taxes
Wait until he finds out what he did!
He'll want a word with that guy!
Listen, fat.
46 supporters are primarily illegal immigrants and underemployed college kidd
Which are also the primary demographic of the Democrat party entirely..
And these people don't typically invest in the stuff nor do they care all that much about how the job market is doing
Most of them are perpetually under employed anyway and not investing in the market. They want free stuff and welfare. Which is exactly what you can afford to pay for if you raise taxes. Sure it kills the stock market sure destroys the job market
but biden's and the Democrats core voter demographic don't participate in the stock market or the job market
I can already hear the press secretary: "Listen, uh... we all know where the Resident stands on taxes. He wants fairness, and to make sure that everybody pays their fair share." AKA complete bullshit.
Fair share of taxes is fucking zero. I'm so tired of politicians who make so much that taxes don't concern them at all, telling everyone else they must pay more and more.
It's like taxes are a tithe to the church of government and not wanting to pay makes you a heretic.
I paid 75k last year. Still wondering when I’ll hit my “fair share.”
Fair share, like other commie terms, is also a meaningless phrase that is used to worm through debates.
Tithe? We should be so lucky to pay only 10%.
Federal employees don't pay taxes they collect them.
Finally, someone figures it out
When they talk about "fair share" you know they are evil commies.
Without mentioning he will compensate the super-rich Democrat donors for it by reinstating SALT deductions. The Middle Class gets screwed.
"but biden's and the Democrats core voter demographic don't participate in the stock market" quick someone tell Nancy
Exactly right..they do not care because it does not affect them..Biden knows this. Government hand outs keep his base voting/ballot counting. Socialism/Communism is the goal.
Who is 46? This is like a four year bye week.
So here is a serious take on this, and you can tell me if it is inaccurate because I have zero investments anyway, because I am poor as fuck and always have been. Poor white trash and all that.
The point in investing was so the company would put it into research and development, develop new products, and thus, make money back later. it was to drive innovation and invention.
However, investing now is investing in profitability, its investing for investings sake, not for innovations sake. Can we name a single company that has improved its customer products through the investment stock trading has created for them? Ford wasn't a public company until the car was already built. SpaceX is a pet project of a man siphoning his own money off to it instead of an investment for further progress from the outside. ESG certainly isn't making products better. Apple was innovating to beat the competition, and Facebook and Google didn't come public until they were already well established as the top of their fields anyway. Sure airplanes, cars, light bulbs have improved vastly, but that is off of competition and selling to customers, not from investors.
Its money creation in the old tiny hat money creation scheme.
No, the point is to buy ownership in the corporation. Shareholders have voting rights and votes control the corporate leadership as to how they will direct the company. Longs get wiped out if poor leadership drives the company off a cliff.
Shareholders can get rewarded capital appreciation of the shares or through dividends.
I'm not sure if you're dense or just slow but that's literally the definition of capitalism.
I invest in IBM because I think IBM is going to be profitable and my ownership in the company will either return dividends (profit) or be worth more tomorrow than it was today.
They still had thousands of investors that gave them buckets of money hoping in the future they'd get multiples of buckets back
I see. You’re part of it and in on it. Either through ignorance or greed or actual partaking in the active and malicious destruction of society.
You want to make money from money. Not from goods, services, or products. So much so you don’t know the original intent in the Jewish scheme you are so heavily defended. That’s okay. That is why we are here. To wake people like you up.
The point in capitalism isn’t to make capital from previous capital. It’s to make the best products and services to earn the most capital and then use than capital to make those services better to earn more capital to make those services better to earn more capital.
It’s to drive innovation, creation, and competition. Not to generate money from thin air. Your investment is supposed to lead to more and happier customers who reward that investment with products sold, not with fake market prices manipulated by people who fuck kids at their whims.
He's gonna take himself behind the gym.
And hopefully take himself out.
He'll take Biden behind the gym!
And have black kids touch his legs?
No joke man
True story.
I’m not kidding
Cornpop is a bad guy
C’mon man
Corn Pop was a good dude.
I don’t know that there’s any internet in hell. Because he isn’t going to find out shit in this life.
Don’t have to worry about voters when you control the ballot printers and dominion machines.
Lol voting. What's that?
An illusion
I don’t think it has really hit enough people yet that this isn’t really a republic anymore.
What is a country? A flag? An anthem? Some lines drawn on a map?
When men and women are terms without meaning, what’s left?
Yeah it's almost like they had a plan to destroy America and are now implementing it. Are we awake yet?
That 4 year delay sure was pretty nice.
Even my staunch Democrat NPC mother is waking up. I know a few others that are now finally asking questions.
There's still plenty of retards out there though. They could be living in a post-apocalyptic shit-hole with nothing but a can of beans and still hate Trump.
An NPC I know brought up the Clinton kill list last week...I guess that's progress too
Don't worry scro'! There are plenty of 'tards out there living really kick ass lives. My first wife was 'tarded. She's a pilot now.
"you talk like a fag and your shits all retarded" - idiocracy
No one’s moving til it gets much, much, much worse. America is almost unbelievably pacified.
Read my lips: no new taxes.
Don't worry, it's not a new tax. It's doubling and existing one. Everythings cool
That was Bush, not Biden.
I know. They are all the same.
Now listen here Jack...I don't work for you!
He left his basement before installation?
This is the perfect Democrat play. The capital gains tax only hits the rich, so everyone other than the 1% can get behind increasing it. Except that it also hits homeowners, small business owners, investors and retirees. Not every year, just often enough for us to make funny memes about how they fucked themselves too when they thought they were fucking us.
This reminds me of a story in California complaining that their Rents went up after property tax was voted on and increased. I think it was some kind of townhall and someone stood up and said, "we voted to increase property taxes not our rent!"
People seriously fail at seeing the big picture sometimes.
IQ matters.
Sadly, it is in short supply for many people.
Yes a very large percentage of the population has a literally inability to grasp higher order consequence chains just on IQ alone. We are truly fucked
This - you have so well captured the useful idiots.
The show can't continue as it is ... even raising capital gains won't fund the levels of spending currently in place.
The system will break under these pressures.
I think it's what they're counting on to use as the next lever to pull away more freedoms. "It was rogue Capitalism that caused this!"
This is always the tactic, but the real culprit, most of the time, is government regulations.
Don't like that healthcare is so expensive? It's mostly due to government regulations.
Don't like how college is so expensive? It's mostly due to government regulations.
Hate car dealerships? It's mostly due to government regulations.
And who do they blame? Greedy hospitals! Greedy colleges! Greedy car dealerships!
It's all capitalism's fault!
Idiots.
They haven't been planning CBDC currencies for nothing...
I didnt even think about the term useful idiot unril you put it in writing. Thats exactly what they are.
I agree with your sentiments about capital gains tax. Everyone thinks capitalism is some greedy system. I love the people at my work when they try to say something disrespectful about Trump. I point out that from 2017 through the begining of 2021 this company added 9 salaried manager positions. That was the most explosive growth weve ever had. Thats 9 jobs that pay 70k a year or better that we didnt have before and they are unknowingly currently in one of those positions. They should be thanking Trump every chance they get because if the economy didnt boom like it did, the transportation sector wouldnt have seen the growth it did. When more products are made in the U.S., there is more of a strain on transportation to move raw materials to make the product and to get the finished product to the market.
Idiots i tell ya!
No, people are seriously functionally retarded.
Soccer mom/crime victims who marched to defund the police wave hello.
In their pink vagina hats no less ... what a sight.
One person one vote is a horrible way to run a country.
If you do not have personal financial stake in the running of the country, then you should not get a vote. PERIOD.
Landowners alone should pay for the common defense. And they alone should pay taxes.
Any other levy on a person, or their property should be illegal.
The other necessary functions of a very limited government should be funded by import and/or export taxes.
Any politician who would violate this should be hung.
I seriously do not understand people who would willingly vote to increase property taxes.
They are some sort of stupid that shouldnt exist.
Im sure it was so.e kind of bait and switch from corrupt politicians. "Increases taxes this much and this service we do will get this much better" meanwhile it juat means they can pocket more money.
Even then I would be asking questions.
Like why can't they do what they need to do with the budget they have?
Who are they hiring for these jobs?
What is being paid out and where?
I remember getting an itemized summary from the tax office downtown to find out where my tax dollars were going. Had to do this for school and I went above and beyond and starting calling up the tax office to see if someone could explain why a large chunk of my tax dollars were going to maintain a park that was on the other side of town, and why it would be my responsibility for it when it's not even in the same zip code as me.
Of course I was given bullshit answers and that I would need to bring it up to my local county office and speak to my rep to see what we could do about it.
Problem is, my rep is corrupt as they come (Democrat of course) so when I called his office for an inquiry, they never responded back to me. Called a few times and even wrote emails. Just got general automated email responses and was put on a mailing list. I had to eventually block them because no matter how many times I would click to unsubscribe, I was put back on.
I just wish more people would take the extra effort to see where their money was going and why. Problem is, they would all become republican / libertarians overnight and the Dems can't have that.
Btw, the professor who had me do the research was a Trump guy. Me and him got along really well.
It hits the middle class quite hard. We buy and sell precious metals, crypto, stocks and houses as well. You don't have to be the 1% to do any of those. It will rankle a lot of people.
The fact is taxes always end up, hurting the middle class and poor the most does anybody really think the big businesses are just going to “take the loss”
Fucking idiocy
It's all part of the "you'll own nothing" agenda and modern monetary theory. Read up on that voodoo shit. The government prints unlimited money and does unlimited taxation to take that money out of the economy and there is no inflation and the people owns nothing. Perfect slavery based system.
You left out the part about the globalist using that money to buy all real assets
At some point, people are seriously going to have to take a stand and not only refuse to buy the garbage that globalist corporations sell, but refuse to sell anything to them as well, most importantly, their labour. Even the biggest corporation can't function without employees, so people need to assess whether their paycheck is worth the fact they're working for their own enslavement.
Things are gonna have to get way way way way way way way way way way way way more bad for that to happen
Functioning without employees is the goal. That's why Boston Dynamics and ChatGPT exist. Then the globalists won't even need to pretend they need us anymore, and can simply push the button to activate the "vaccines".
Yep. Print money, give it to the in crowd who buys actual stuff.
The value that actually buys that stuff comes out of your wages in the form of inflation.
Parallel economy. Abandon the USD, because that ship is going down.
Red States are already doing that by starting their own bullion reserves. I keep talking to family members, getting no traction on precious metals just in case the dollar goes boom.
I’m not rich but last I looked my household is in like the top 10%. People don’t seem to understand population incomes break down. There is a big difference from my life and that of someone in the top 5 or 1 percent. And I sell stocks and crypto.
Why not just tax the shit out of hedge funds? Oh… because they fund demoncrata
40% tax on all political donations.
Hedge funds are the only source of equity financing for right wing businesses, that is why democrats hate them. Leftwing business are just publicly traded
“Hedge-Fund Billionaires Were Democrats’ Main Bankrollers in 2018” https://prospect.org/power/hedge-fund-billionaires-democrats-main-bankrollers-2018/ 5 years old, but nothing’s changed
That doesn't separate hedge funds from these hard-left financial institutions.
Yay! Tax the rich! They'll never think of passing that cost on to the little guys at the end of the food chain!
If you double Jeff Bezos's capital gains tax, there is no way he will be able to think of raising prices on Amazon products!
Commies are Stupid.
It's not just the rich by a long shot. It's anyone that sells a house, has a 401k, IRA, etc. Anyone that's retired is going to get nailed to the wall with this. You're basically talking about an income cut of 25% to every retired person in the United States at a time when inflation is doing nothing but going up.
Roth IRA account is starting to look like the best break uncle Sam ever cut me if this happened. Won't matter much though if proposed 40% capital gains tax drives everyone out of the market. At some point the returns are not worth the risk. It's probably all hot air anyway.
I don't trust the government enough not to tax the Roth IRA at some point. They double dip everywhere else, why not triple dip on the Roth IRAs? It's kind of like how Clinton didn't cut social security, he just proposed an income tax on it.
I’ve been putting half my retirement in one for a good number of years now when I saw the writing on the wall for our tax future.
Wall Street owns the dems, so this would never pass. But he gets to suggest it to curry favor with the poors and then blame the GOP when it goes nowhere. Honestly, GOP should dare the dems to pass it. Just vote present and let the dems have it if they want it so bad. They will be exposed for what they are.
20% is gains under one year. I don't see how it relates.
Will never happen, and if it does so much money will leave the United States
We already sent over $100B to Ukraine. No one gives a fuck.
Imagine thinking any of this is based on logic and not the deliberate destruction of the USA. This will more likely happen than not…
Why are they doing this though? Why destroy everything?
Soros was pretty upfront about it.
In order to have a global governance (where people like him are in charge) the American hegemony must be taken down.
And China is up front about wanting to take over world power.
All in its like 70% of the world’s wealth acting against people interested in America’s continuation as the preeminent world power.
They despise that everyday normal Americans have any power to influence the world at all.
Its already happening.
Uhhh?
Where?
Everything is fucked.
It's time we go the opposite direction. We are being wrongfully taxed and we should only be taxed once on anything, if that.
The only tax that should exist is a 7.5% sales tax on ALL products. 5% for the State, 2.5% for the Feds.
Taxation is theft.
No shit, but having roads and running water are nice.
Do they require 40 % of my income to exist?
Capital gains is extra tax beside the usual income tax.
It's paid every time you earn money through other means than working.
For instance, any good investment, stocks, interest on savings etc, boom government want 40%, if you own a business all the profit are "capital gains".
It isn't an extra tax it is an alternate tax. Capitol gains are taxed differently than other income. The idea is you tax long term capitol gains at a lower rate to encourage investment and make people's saving available as funding for businesses.
Capital gains tax can apply to the actual ways people make a living
Being a Real Estate Investor that 1031 exchanges all their investments is sounding better and better...
Did you even read my other comment?
Income tax didn't exist before 1913... Did we have roads and bridges before that time?
He's talking about sales tax, that means 0% income tax.
Also keep in mind that sales tax, instead of income tax:
The point is, civilization can exist without taxation. As long as you live inside the overton window of the state you'll only make arguments they approve of.
Edit: to the supposed patriots downvoting. AMERICA LITERALLY EXISTED UNTIL THE CIVIL WAR WITHOUT TAXATION AND UNTIL 1894 WITHOUT PEACETIME TAX. I'm literally just right civilization went on just fucking fine. So unless ya'll are just denying history like a group of faggot lefties, maybe buck up and go learn about the fucking country you claim to love. Fuckwits
And that's how sales tax works, only if you need the government you pay tax. If you live off grid and produce everything you need locally you pay no tax at all, and the government can fuck off trying to audit your private economy, like they would legally do with income tax.
Tax should be optional, otherwise it's theft. And you do need some sort of public funding system if you don't wanna end up like Somalia, which is a 100% tax free society.
The problem with sale only tax is that, of all taxes, it DOES target the poor more than anyone else. The rich have excess money to spend, or not, on whatever they want. But at the end of the day, that 7% comes right off the bottom line of everyone because necessities are shared regardless of income. So flat taxes do specifically impact the poor more than the rich.
Honestly, tiered income taxes are reasonable if the tax itself is reasonable. I'm talking 5% tiered to 20% MAX. That's it. Not a penny from any other source. I'm not opposed to government (taxation =theft people) but what we have now is completely insane. I too like roads and water and people are unreasonable. No one wants a road through their property, but everyone likes roads. And if the road has to go there, granny angry pants has to be reasonable, just like the government has to be reasonable with their usage and payment for such.
One thing that should ABSOLUTELY be true, is that everyone should pay SOME form of taxes and that every tax hike should be felt universally. While the impact should not be equal, it should be felt by all. This "TaX tHe RiCh!!!" BS, as a mid sized business owner, is almost enough to put me over the edge. I promise, that $1200 tax you pay and get back is not taxation. I've felt taxation.... It's terrible. But I'm still not opposed to it.
Also, I believe income tax should be paid weekly, in cash, at a bank, to a man with a loaded gun. No more of this withholding BS. People need to understand what's happening for real, every time.
Edit: Wow. People really buy into this "rich pay no income taxes and the poor do" thing on here. It's liberal nonsense everyone. For anyone interested :
https://taxfoundation.org/publications/latest-federal-income-tax-data/
How does it target the poor people more? Poor people work, often multiple jobs, since they're poor they can't afford much, hence won't pay much sales tax.
Rich people and criminals knows how to avoid paying income tax by using various accounting tricks to make it appear as if they have $0 income, hence $0 in income tax.
With sales tax, especially rich and criminals will pay the most tax because they consume the most luxuries.
If the flat rate is a problem, then use different rates, lower for essential items and higher for luxuries. Normally you pay no sales tax on things like rent, but you do pay sales tax on utilities. This is very beneficial for poor people.
They paid for roads with property tax and tarrifs.
People here also thing property tax should be abolished. Right or wrong, but the notion that it was all privately paid for is hubris.
Roads used to be toll roads, then came the freeway which in theory should be funded by the fuel tax, but it's not enough right now.
Wait. There weren’t roads when there was no income tax?
He literally said no income tax only sales tax.
A google search tells me that tariffs and property taxes were primary sources of government revenue pre income and sales taxes.
I literally said sales tax?
Roads and water lines would be built regardless of weather the government did it or not.
These things have value and people would pay money for them either way.
Redistributive taxes are white slavery.
That would be great, unlike the recent house rino proposal for a 30+% use tax. Lol, those morons thinking anyone would support that.
An interesting alternative to this is Georgism. The only thing you tax is base land value (not factoring in improvements.) This encourages efficient land use and land improvement. It also penalizes foreign land investors.
Henry George didn't like that privately created wealth is taxed and socialized. Meanwhile land value does tend to be created by society itself. He believed the end result would a society with a lot of liberty while still being able to maintain infrastructure.
Bingo!!!! And if they can't make do with that then they need to be out of office
No. Taxes are theft and I’m tired pretending moving them in different directions are anything less.
Your dollar is worth like $0.25 by the time you spend your wages due to the chain of taxes
Republicans are bad at this game....they should announce today that they're proposing a 50% capital gains tax!
And tomorrow, that they're proposing $20000 in student loan forgiveness!
And Monday, that they're giving out free hams to every family at Christmas!
We all know it's not going anywhere anyway, so why argue against make believe?
yeah lets keep moving the overton window until we're in full blown communism. Great idea! Republicans already are the Democrats of 10 years ago.
Democrats win by promising a bunch of free shit so why not? We're already fucked anyway. Free college, free housing, $50 minimum wage, free car. At least that way they won't be able to give it to Israel and Ukraine and we'll be able to win elections.
On a positive note, if he were to go this route there will be a mass house sell off before it takes effect. How many people would distribute their 401k early? I mean, it's just a 10% penalty for doing so. How about stocks? People would sell off long term assets to avoid it. This wouldn't be just an unfortunate downturn, it would be an outright dissolution of the economy just by shear panic.
FYI: Cap gains tax does not apply to 401k accounts. Distributions are taxed as income.
Fire sale at that point. Good deals for the rich and savvy.
If this tax hike takes effect what will happen is anyone who is a short-term investor in real estate will sell to be able to lock in the lower tax rate. If prices in housing crash then you will see people selling stocks to buy real estate as a "never sell" type of asset. That's what will happen if these tax hikes take effect. It will discourage the rich from ever selling assets.
These high-tax "tax the rich" schemes were tried in other countries and the end effect is that the government actually saw DECLINING tax revenues because everyone simply shifted their behavior to minimize paying the tax. Well with assets, the "tax minimization" strategy is pretty simple: never sell.
What a piece of shit money laundering bastard.
Yeah, this will fix everything. Tax is always the answer to everything for democrats.
If you dare propose to lower taxes they legitimately think you are stealing their money. In their mind they deserve 100% of your money.
Why bother investing then? I mean I've completely lost my ass this year anyway so might as well just flush it down the toilet.
That's the whole point - the Marxists who are in charge of our country now don't want anyone getting ahead (unless they are politically connected bigwigs).
Yep. The only source of investment money a company should depend on are the ESG-backed globalist funds (as long as said company "behaves" accordingly). Almost like communism or something.
The P is silent.
The pee is running down his leg actually ...
Disgraced Former Vice President sounds like a more accurate and fitting title
Go fuck yourself joe
With that cut, I would expect to receive some insider info in return.
This effin joke of a 3rd term POS basement earpiece commie "prezdent" is trying to cause crisis to make himself the hero who turns on emergency powers to fix it with overreach. These scumbags need to be thrown the hell out of govt!
Joe isn't doing shit. This is Obama, in his bunker.
You can tell most Democrat Communists have never had to judge risk vs reward for anything, because they have never had a real job or needed to invest the money they made without insider trading.
You have hit on the real danger of the Democratic Party. Not only has it created its own culture, but a parallel economy (although a parasitic one) as well.
Good point about the parasitic economy. That's exactly what the Left is. Whether it be govt or diversity hires, or DIE the entire things is parasitic.
Isn't that the main reason communism and socialism wind up in financial ruin? They suck the blood out of the economy and return very little. The same may be said of the welfare state economies such as Chicago, New York, and Los Angeles.
Yep. If you are going to have the same shitty life busting you ass or coasting, why put in the effort?
Considering the demographics of political patronage, you're actually better off on welfare, financially. It is really the working people and their kids trapped in the cities who get screwed.
I mean...
short term just uses your normal income. So if you made $100k whatever capital gains you make goes as income. So 50k capital gains just means you earned and are taxed for $150k income. If you made $0k and had $50k short term you tax against $50k in income.
The only time you get the 20% is long term capital gains, so any asset held for 366+ days.
So... you are going to penalize people for holding onto assets. Since the highest tax bracket is 36%...
Therefore, the highest tax you would ever pay on short term gains is 36%... But with this, if you decided to hold onto the risk longer, and let the market use that money/asset to earn more money, you are penalized?
What a faggot
I assume tax bracket changes are coming too, but your analysis is interesting.
Analysis? It's tax code.
The part they leave out here is that this is to affect net family income over $1M a year.
It's still stupid and shouldn't happen. Taxes should be removed or reduced.
Ya and then combine that with the chief central banker continuously declaring that they need to keep jacking interest rates because of the problem THEY caused, and the stock market is definitely going to keep tumbling for the foreseeable future.
Right now bond yields are 5%. Why would anyone put money in the stock market as it's collapsing when they can get a guaranteed 5% rate on bonds? They won't.
What we've witnessed the last few years is the biggest transfer of wealth in human history. What most people don't realize is that when government prints a bunch of money to cause inflation, the person who spends it first makes out like a bandit because they get to spend the money on tangible assets with the old prices BEFORE the new money has a chance to devalue everyone else's. And what did we just see all the central bank investment companies like Blackrock and Vanguard do? Yup, bought up a ton of real estate. Now they manipulate investors into funding the debt they just created through rate manipulation.
END THE FUCKING FED.
We're almost there. Homes are too expensive for millennials and definitely too expensive for gen Z.
Gen z here. Older side of it though. We all make jokes about one day owning a cardboard box or the real dream. A van by the river. We know we're probably fucked unless we inherit.
This is such an important point! The increased purchasing power before prices rise is free money for the connected! They reap the benefits of more money created from nothing and the rest of us are burdened with the consequences of it (more inflation and higher prices while our money is worth less).
Stock market, real estate market, crypto markets, precious metals, selling your shit on eBay. Pretty much any means of making a living or creating passive income other than wage slaving will be wiped out by such a move.
Gotta pay for the Ukraine money laundering scheme some way.
Only way to make money in Party™️ controlled economy is by grants & payments from govt. services.
I'm okay with this. The crash was always going to happen. Let's get it over with.
what are you waiting for?
You don’t think a civil war will crash the economy?
Sup, handshake glowie. Did your boyfriend iron your khaki pants this morning?
Won't matter if stonks continue to slide
I'm up $3000 on my measly 356 shares of a lithium stock I bought in at a half penny.
Fuck this guy
So I should sell all of my lithium plays now..
Government has lifestyle creep
You pay for their mistakes. It gets worse and worse until the people revolt. Then comes the UN soldiers and mercanaries.
Yea hence all the terrible policing and reform to policing. Getting good guys to quit the force so they have to call them in.
Ok, we won't do 20% increase and we'll compromise on 5%. Republicans in Congress: Deal!
Meanwhile everyone in Congress gets what they wanted: more money to play with out of our pockets.
if you think this stock market wasn't already well on its way to collapse before this bullshit, then you might be a normie.
^In my best Jeff Foxworthy impression.
If you think carving off a forearm can make a penis...
You might be a normie!
The funny thing is that this only fucks the poors; rich people like me never sell stock, we borrow against it, and since the loan is fully secured by the stock, the rates are great, on the order of 2% or less these days, and I can make the interest I pay tax deductible if I wrap it in an investment LLC.
Only poor people sell stock and are subject to these rates.
Lulz. So you hold until 59.5 yrs or do you just dividend stock?
I hold forever. When I die, the original debt is against my estate but the stock has grown so much since then it doesn't matter and the estate pays it off. The stock wrapped in a trust passes to my heirs at stepped up basis. They then borrow against it and start the process again, never selling.
fuck him, he's killing capitalism
If he actually wanted to crush the top 0.1% and the banks he would simply make loans taxable.
Biden is synonymous with Benedict.
Just In from NYT: It's Trump's Fault
He meant to say double his payout from 10% to the big guy to 20%
There should be 0% capital gains tax.
The federal government stealing 20% was already ridiculous. Then the state takes their cut too. They help themselves with the gains, but they don't cover any of the losses. Another government theft program just like income taxes and property taxes.