Posted on 07/21/2020 7:53:53 AM PDT by SeekAndFind
Presumptive Democratic presidential nominee Joe Biden will unveil a sweeping proposal Tuesday to help families pay for child care for children 4 and under, in-home elder care for aging parents, and long-term care for the disabled. The plan, estimated to cost $775 billion over 10 years, would also fund 150,000 public health care worker jobs. "If we truly want to reward work in this country, we have to ease the financial burden of care that families are carrying, and we have to elevate the compensation, benefits, training, and education opportunities for certification, and dignity of caregiving workers and educators," Biden's campaign said.
Biden's "21st Century Caregiving and Education Workforce" plan follows major proposals on green energy and Buy American economics. It would provide universal child care to 3- and 4-year-olds, fund new child care centers, work to clear the backlog of in-home elder and disabled care requests, and help caregivers get better pay and education, among other planks.
Biden's campaign said only that the proposal "will be paid for by rolling back unproductive and unequal tax breaks for real estate investors with incomes over $400,000 and taking steps to increase tax compliance for high-income earners." A senior campaign official told Bloomberg News that Biden's administration would specifically target "like-kind exchanges," which let investors defer taxes by reinvesting commercial real estate sales in another property, and also stop investors from using real estate losses to slash their income tax bills.
(Excerpt) Read more at news.yahoo.com ...
More gasoline for the massive government-democrat machine.
taking steps to increase tax compliance for high-income earners.
Isn’t it a fact, that many high income people, as well as major corporations, are audited regularly, so aren’t we already doing a lot to “increase tax compliance”?
I know someone who worked in the finance area of a major corporation, and he told me that this corporate was audited every single year by the IRS.
D.J. Trump????
RE: wealthy real estate investors
Define Wealthy Mr. Biden. If I own property to rent out and depend on the rent for income, am I wealthy?
“wealthy real estate investors”
is government speak for someone that own’s a house worth more than $40K.
This is the SAME, old welfare crap the Dems have promoted/passed/promised, for years.
Funded largely by wealthy real estate investors.
The tax payer it’s the democrat way their same old game of S&T (spend and tax) it never ends.
“wealthy real estate investors”
is government speak for someone that own’s a house worth more than $40K.
No kidding!
That’s what these dumb@ss Dems, who support Biden over Trump, don’t get.
People who can not provide for children should not have them NOT expect other people to pay for them (with rare exceptions for something unpredictable such as death of a spouse).
I can see the disability and elderly care having a lot of appeal especially in with Covid amuck in senior type homes.
I worked in the tax dept of a well known shoe manufacturer in Oregon - Beaverton actually - and yes...unending state and federal audits.
Define Wealthy Mr. Biden. If I own property to rent out and depend on the rent for income, am I wealthy?
Yes, you would be an evil wealthy rapacious capitalist landlord. Better be ready to justify every repair and maintenance expense taken on your tax returns. Better make sure your depreciation schedule is accurate, otherwise, prepare for a big tax audit bill.
I’d be curious to know their dedinition too. And what they never tell you is that taxes net to never hit those they say. To compensate in this case, landlords will simply increase the rents of their tenanats who may not be so wealthy.
how about wealthy crooks
What’s considered a high income earner? From last time the rats held the White House, that number was around $60,000. In other words, this is another attempt to bankrupt the middle class.
I think what they really mean is they don’t like ordinary companies taking advantage of the purposefully placed loopholes they only intended for their selected cronies.
The Biden tax proposal is a thinly disguised extortion racket.
All the wealthy folks and big businesses will have to bring suitcases of cash to DC to make sure the new tax code has benefits for them.
The new law will be thousands of pages long, and not one human being in the land will be capable of finding all the new loopholes.
As for senile Joe, he will still be looking for his lost pen to sign it.
Biden’s economic plan: Use coercion to convert productive long term capital into non-productive short term consumption.
Hey Joe, what will the poor have after the rich have been devoured?
The wealthy real estate investors will not be wealthy for very long.
Yep, their solution to everything is to raise taxes and spend more money.
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