Billionaire tax proposal in chaos: House Democrat says plan has been scrapped moments before Senate Finance Chair pushes back and insists 'we're continuing to work with members'

UK Daily Mail ^ | October 27 2021 | ELIZABETH ELKIND

[knighthawk]

Democrats' proposal for a new billionaire's tax to pay for Joe Biden's Build Back Better agenda has hit a public stumbling block just hours after the proposal was rolled out Wednesday.

It was introduced by Senate Finance Committee Chair Ron Wyden (D-Ore) earlier today.

Rep. Richard Neal (D-Mass), chair of the House Ways and Means Committee, said on Capitol Hill the tax is 'out of the Biden plan.'

[ClearCase_guy]

Chaos is in control now.

[kaktuskid]

Because it is the equivalent of taxing something imaginary, like unicorns.

[struggle]

May the gods make them insane first

[NicoDon]

this was never going to move forward anyways. the billionaires are the ones who pay the lobbyists to push their interests. No “elected” representative is going to put this idiotic tax burden on the people who are making their stay in congress worthwhile.

[Common Sense 101]

May the gods make them insane first

No offense here, but exactly how do you define insane, because the Demonic Party has been there for decades.

[cgbg]

The lobbyists made a few calls reminding Congress-creepers of the blackmail files...

and that was that....

[Rusty0604]

Democrats in disarray! 😃

[I want the USA back]

What? the dems are not ready to make us communist just yet?

[AU72]

Like to see how that works with something like Bitcoin where 12/31 you have an appreciation of 50,000 and 1/2 it depreciates 70,000.

[Maudeen]

Forget chaos . . . it’s called demons in a frenzy.

[FrankRizzo890]

These idiots act like the same people that this plan would aim to tax don’t have enough money to hire the best accountants and lawyers so that they NEVER have to pay more than they WANT to. This was all looks, no substance.

[TheConservativeTejano]

Billionaire tax proposal in chaos: House Democrat says plan has been scrapped moments before Senate Finance Chair pushes back and insists 'we're continuing to work with members'

The DemonRat party wants to punish/penalize success with this millionaire's tax and it is very simple to understand.

I wish Rush was around so he can explain this matter better than I can.

The DemonRat party wants to go after individual success and family success. The DemonRat party wants to punish families and individuals with their new Budget.

"Kill the Bill" is my answer.

Every person in the U.S. should vote Conservative Republican period. A congressman should have conservative credentials.

This is all we are asking this Congress.

[Texas resident]

The lobbyists also probably reminded the congress critters about campaign donations.

[Jacquerie]

And unrealized capital gains ain’t income. It’s in that 16th Amendment thing.

[Don Corleone]

Would raise zero dollars and send a very bad message to their donors.

[Wilhelm Tell]

The “billionaires tax” would have been redefined until it ultimately trickled down to small businesses and family farms, leaving the oligarchs untouched, you can bet on it.

[seowulf]

Like to see how that works with something like Bitcoin where 12/31 you have an appreciation of 50,000 and 1/2 it depreciates 70,000.

Well, you see, it works like this.

One year you make $100k on unrealized gains and pay tax on it. The next year you have $100k unrealized loss and can only deduct $3k from your income for that year and carry forward the $97k loss.

[P.O.E.]

Just need to find 100,000 billionaires to pay off the $100 Trillion dollars of debt.

[Nateman]

They have already spent more than 1.7 Trillion thru their inflation Tax. That is the amount of money they created out of thin air for a yearly inflation rate of 38%. The greed of these thieves and liars is unlimited.