Posted on 09/24/2021 5:47:44 PM PDT by libstripper
Senate Finance Chair Ron Wyden wants to tax billionaires' unrealized wealth gains annually.
Biden said he supports the proposal as a potential method to fund Democrats' social-spending bill.
"I come from the corporate state of America," Biden said. "I just think it's about just paying your fair share, for Lord's sake."
House Democrats have proposed a whole host of options to pay for their $3.5 trillion social-spending bill which includes measures like universal pre-K, tuition-free community college, and paid leave for workers.
One of those options, proposed by Senate Finance Chair Ron Wyden, is a change to the way the government taxes earnings on assets like stocks and bonds. It would mainly affect the wealthy, because their wealth usually derives from investments more than salaries. The gains on those assets - which are called capital gains - are taxed at a far loewer rate than income brought in through wages. The top marginal tax rate on income is 37%; capital gains for the wealthiest Americans are taxed just up to 20%.
(Excerpt) Read more at msn.com ...
This is all a show.
They get all the money they want by simply printing it. That effectively taxes every dollar, no matter who owns it.
Yes, some assets will appreciate....and they have many ways of getting at that through things like estate taxes.
They want to steal that too, Biden's proposal to spy on bank transactions would help them to do that
Strictly speaking, that would be the 16th.
The 17th regards direct election of senators.
Blame spellcheck. ;-)
What happens when the economy crashes & those ‘assets’ are worth alot less?????
“Owes $500,000 in back taxes”
THAT WE KNOW OF.
How much has the entire Biden family made in amounts NEVER reported???
Tax the Waltons 100%. Take everything. Durable goods, sundries, and fuel disappear. People Die.
Tax JB Hunt..trucker. Take everything. Things start to break down. People die.
Tax BilL Gates. Sorry companies, no more support for your business on top of starving, no gas, no Christmas, no goods, no fuel....
Tax Jaime Dimon 100%. Take everything. Watch the financial sector crumble to nothing. It would be a 20 year great depression and resemble Stalin's terror from the 20s to the 30s.
Yeah, good thinking fake Potus.
https://www.opensecrets.org/personal-finances/ron-wyden/net-worth?cid=N00007724&year=2018
Says the guy who in 2018 had an estimated net worth of $6,877,025
More BS PR posturing for the brain dead Dem bot voters
The target isn't billionaires, the target is everyone.
The point is how he got that net worth. Definitely not by honest investing and hard work, but by graft. Having got it by graft, and not being very bright himself, he probably has little or no idea about how legally acquired wealth appreciates and how important it is to both individuals and the country to leave it alone to grow. Thus, he approves stealing it from those of us who have legally acquired it.
Well, how about Scrooge McDuck?
And his Money Bin.
Not only was he sitting on a pile of cash, he rowed his rowboat across those piles.
And takes money under the table from the Communists.
This thread is the first I’ve heard of Scrooge McDuck.
It’s a cartoon or something, right?
I suspect most of the Democrat mindset regarding economics
has to be based on a cartoon.
DuckDuck some Scrooge McDuck images.
Some are inside his Money Bin.
And yes, this is where Democrats get their ideas of ‘Rich’ folks.
It serves them right for not doing their banking in the Caymans or Switzerland./s
Who’s this “Lord” of his? Beelzebub?
Thanks...
So if I have a million in the bank does he plan on taxing it every year until they get it all?
____________
that is exactly what they plan on doing.
You mean the way they stood tall in their old and tattered rags and beat down the idea of Obamacare?
You mean the way that they waged fierce battle against the weaponizing of tax info, a la Lois Lerner?
You mean they stood together so bravely to keep the Keystone Pipeline functioning, and all the thousands of jobs on the line?
You mean the way they ran hard and fast from the possibility of impeaching President Trump, which was ridiculous from the outside, yet dogged him for months and years, because the rich and hateful didn't want to wound the great man?
Sure. They'll never do it. They'll take on their biggest supporters, crush them, and direct their concern at average, decent, God- and Flag-loving Americans?
Thanks. I feel so much better.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.