“bipoc” impacted the most. No?
Democrats who make money on inside trading won’t like this.
To DemonRATs harming the economy is a feature. It’s what they seek.
To bad Biden isn’t to announce a proposal for freezer money inspection in D.C..
Taxes, ah yes, Article II of the Constitution, POTUS has the power to set taxes.
Capital gains are racist.
Land of opportunity is now a myth.
wonder what that works out to on a BTC bought in the last few years, IRS say yuuuum yummmm...
This is one of those things (Capital Gains Tax) which will require congressional approval. Not likely to happen. I would like to see him make a proposal rather than blather about it.
destroying USA includes destroying the economy, businesses, and jobs
it is that simple
If they pass this and eliminate the real estate basis step-up when a spouse dies, about 2/3 of our kids’ inheritance gets stolen. This absolutely sickens me. I want my lifetime savings to go to my kids, not the God Damned government which will waste it on Democrat marxist projects to destroy America and Western Civilization. The very idea of stealing our wealth to pay for “human infrastructure” is beyond infuriating.
God, I sure do miss President Trump. Every day Biden heaps another massive insult onto hard-working Americans.
bookmark
capital gains are taxed only when they are sold and become realized
Beware any proposed taxes on ‘Unrealized Capital Gains’.
Just means Oprah, Bill, Kerry, Mikey, and others of the “do as I say” crowd will just continue to keep their money and assets in places like Switzerland and elsewhere so such tax increases do not affect them at all.
The rich could simply borrow money on their shares at today’s record low interest rates.
Would I lend Bezos money at .2% more than what my bank pays me?
Why yes!
1776: Taxation without representation
2021: Taxation with representation
First of all, you have to hit $11.4 million in your ‘inheritance jackpot’ before anything kicks in. Married couples? $22.8 million. Currently, you can flat-out GIVE your heirs (or anyone you want) up to $15K a year with no taxes to pay for you or them. (Up from $14K)
If you have adult children that you TRUST, either set up a legal Trust right now, or make sure they jointly own your assets, checking and savings accounts.
That’s what Dad and I did. Simplified things greatly when he died last year.
Get ready for a repeat of FDR’s wonderful Depression economy of the 1930’s - then another world conflict to bring us out of it, only this time ...
Hang onto your wallets America! It is a fact that every time the Federal Government has its sights set on the millionaires, not only do they miss, they hit us little guys instead. That's deliberate.
Saying they're gonna tax the millionaires is just propaganda b.s.
Time to prepare to cash out, pay off all debt and live off the grid. The pace they’re moving we’ll be looking at “negative interest “ rates on our money...which is confiscation but sounds “nicer”.