Posted on 08/20/2021 8:19:45 PM PDT by blueplum
On the campaign trail Biden was asked if he would raise tax on small businesses
On February 20, 2020 he said: 'No. Taxes on small businesses won't go up'
Next week House Democrats will vote on the framework for the tax hikes
Biden wants to raise the top marginal income tax rate to 39.6 pc, from 37pc
Americans For Tax Reform calculate 1.9 million small businesses will be affected
Furthermore, Biden plans to remove a 'step up' in basis on inherited property
The rule means the person who inherits the property can sell it immediately without paying any capital gains tax - a loophole Biden wants to remove
(Excerpt) Read more at dailymail.co.uk ...
The left is making it a mission to destroy the kulaks.
He lied again. Shocking. đ
This will hit everybody who has owned a house for a few decades and has had good appreciation. The current law allows for you to stay in your house and when one of the spouses dies, the other spouse can take advantage of the basis step-up, sell the house, and not pay a dime in capital gains tax.
We’ve lived in a high appreciation area and this has been our tax strategy to leave a decent inheritance to our kids.
This change in the law will wipe out most of the kids’ inheritance.
EFF YOU Democrats and Biden in particular.
I’ve got two worthless Dem Senators and a worthless Dem Rep. They are all for screwing us as much as they can.
I donât believe the step up will happen - nor most of these taxes. The 9 âmoderateâ RATs are talking with Sinema and Manchin to oppose the rule that would move the 3.5T bill without first passing the Infastructure Bill - itâs all complicated, but itâs possible not of this stuff passes
These are the Assistant Democrats that enabled it.
Dan Sullivan (R-AK) Shelley Moore Capito (R-WV) Mike Crapo (R-ID) Roy Blunt (R-MO) Richard Burr (R-NC) Deb Fischer (R-NE) Lindsey Graham (R-SC) Rob Portman (R-OH) Thom Tillis (R-NC) Lisa Murkowski (R-AK) Jim Risch (R-ID) Chuck Grassley (R-IA) Bill Cassidy (R-LA) Kevin Cramer (R-ND) Roger Wicker (R-MS) Mitch McConnell (R-KY) John Hoeven (R-ND) Susan Collins (R-ME) Mitt Romney (R-UT)
ROTFLOL!
Did anyone who’s been paying attention REALLY believe a Democrat wouldn’t raise taxes on the middle class?
We were talking about Risch and Crappo of Idaho at dinner last night. Everybody was wondering what 30 pieces of silver those two slime balls got.
There should be no taxes on inheritances, at all, because they are gifts from parents to their daughters and sons.
i wish there was a law of nature where pants actually would catch on fire every-time a liberal lied- they would maybe eventually learn to keep their lying mouths shut
I agree. Even in good appreciation areas, value is also work put into the property - unpaid hours as well as expenditures of already taxed income. And there’s no guarantee that today’s good area won’t become tomorrows pariah area. It should just pass to the kids or designated survivor.
If you swear in someone as President who did not win the election, logic dictates that you will have a very unpopular President.
Where are all Bidenâs supporters when he needs them? There should be at least eighty million of them, right?
I donât see them. I canât hear them.
As some genius recently memed: âBiden voters must be rolling in their graves right nowâ.
It’s a slow way of taking our money, before eliminating us.
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