Posted on 03/15/2021 6:51:25 AM PDT by John W
Government revenue generating actions I can support:
1) End special treatment for carried interest. Make the vulture capitalists pay regular income rates.
2) Tax earnings (interest, dividends, sales of products/services) of non-profit organizations above a certain level.
3) Limit the life span of private foundations to 25 years and set a cap on annual administrative costs to maintain non-profit status. At the end of 25 years all funds remaining in the foundation go into the general treasury.
4) Require all fines and fees collected by the federal government as the result of regulatory or judicial settlements be transferred into the general treasury. Forbid bureaucrats and judges from giving these funds to localities, public or private organizations (i.e. no more fines on banks being given to the Southern Poverty Law Center or other social activist groups).
5) For a period of five years after a corporation receives any form of government subsidy or “bail out”, tax all executive pay and compensation over $1 million per individual at 100%, and prohibit any retroactive compensation payments for the 5 year period after it ends.
6) Raise tariffs on imported goods. Enact a flat 25% tariff on all imports for the purpose of raising revenue and providing an incentive for investment in rebuilding US supply chains. Look for those who believe tariffs don’t work consider the following. In 1865, at the end of the Civil War, the US economy was devastated by four years of war. Over the next 35 years the US imposed the highest tariff rates in its history. During that 35 year period, when recovering and developing US industry was protected by high tariffs from European competition, the United States achieved the highest sustained economic growth rate in its history. It was also a period of unparalleled innovation. The US began the 20th century as the #1 industrial nation on the planet.
Here we go.
Most Democrats pay no Federal Income Tax
Actually it is most democrat VOTERS pay no taxes.
Worse today, most of them not only pay not tax, they get checks from the government.
If there was some way out of this mad house, I’d be on the first flight out. All I want is a decent life, an uninfringed 2A, and no democrates within 1000 miles.
“But only on people making $400k plus, right.”
Gas is up, milk up, lumber up. Inflation is kicking in. Before long, $400k will be poverty level wages.
Right, those preferential tax treatments - known as ‘carried interest’ - are also targeted in Biden’s tax plan, at least as it was detailed last December. He shrinks that loophole and taxes that carried-interest at something close to, or equal with more typical capital gains taxes (which he’s also raising here).
But, for the reason you highlight, I’ll believe it when I see it.
Time to tax and spend our way to prosperity again!
And the destruction of the U.S. continues. What’s left of it.
They'll do it under reconciliation.
And the tech millionaires. It’s going to be fun watching Silicon Valley get roasted. They are going to squeal like the pigs they are.
Only imposed on people making X amount, which they can surely afford, and we need the money, for the children!
It's not highway robbery if we make it a law...yes, for the children!
Every one of those will KILL US business and force more businesses to move to China. Any doubt why Chinese money went to Biden?
Good, President Trump warned people
Middle ckass tax hike. And this is probably the most inherently destructive and communism producing one of the lot. Take from a family's life work and redistribute it to someone else because somebody died.
Yep, I’m hoping to cash out some stuff but don’t know how much as the laws will probably be passed at the end of the year making them effective for the entire year.
Yup...a friend worked as a tech at Msft about early 2000s...trained his E. Indian replacement. ..still votes Dem...we think
It's been that way for 150 years. After the Civil War, all Americans became slaves, at least covertly.
After the Great Reset, it will be overt.
Right now the Gnu Yak “Legislature” is ready to pass a $205 Billion Dollar “budget..” It is laughable. The money laundering that happens in NY should be enough to throw the whole of Albany into Dannemora for good.
Honestly if you know anyone making over 400k or heard of someone making over 400k or have read about anyone making over 400k then you'll be considered one of the fat cats ripe for the picking.
Be looking for the exodus back offshore for all the companies that came back to the continent or started a new business when the corporate rate was cut making it worthwhile for them.
Demodummies just cannot help themselves copying their past failures over and over again.
Wow
He’s raising everyone’s taxes by 7%
That’s just great
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