Posted on 10/27/2021 4:55:46 PM PDT by MarvinStinson
Democrats are scrambling to invent fresh methods of leveraging the IRS against Americans. A wealth tax and 15 percent global minimum tax are under consideration, along with a provision that allows the IRS to spy on American bank accounts.
The first tax Democrats are weighing is a 15 percent corporate minimum, which would reportedly burden 200 companies with “profits” above $1 billion. Sens. Ron Wyden (D-OR), Elizabeth Warren (D-MA), and Angus King (I-ME) have proposed the measure. Apparently Sens. Joe Manchin (D-WV) and Kyrsten Sinema (D-AZ) approve of the plan.
“The trio said the Joint Tax Committee had estimated it could raise up to $300 billion to $400 billion over a decade, but no formal scoring was issued,” Punchbowl News reported.
The second tax Democrats are considering is a wealth tax on assets that go up in value but have not been sold. For instance, if the value of a stock goes up, tax payers would pay a percentage of the increased value to the IRS.
This plan has also been introduced by Wyden. It is opposed by Rep. Nancy Pelosi, Sinema, and a few House Democrats. Rep. Jimmy Gomez (D-CA) told Politico Playbook on Tuesday the wealth tax has frustrated him as a waste of time. “The Senate needs to start saying yes or no on issues and stop talking,” Gomez stated.
House Budget Chair John Yarmuth (D-KY) stated he does not like the plan because it does not tax Americans enough. “I don’t think it’s a reliable offset. So I have concerns about that,” Yarmuth said.
Democrats are also considering allowing the IRS more investigatory powers to spy on transactions over $600. Primarily due to public outrage, Democrats have since raised the threshold $600 amount to $10,000.
(Excerpt) Read more at breitbart.com ...
Corporations don’t pay any taxes.
They pass them on to the consumer.
What they intend is a stealth tax that will hit the poor and middle-class.
And the so-called billionair tax on unrealized gains is just a small step on the road to grabbing everyones retirement accounts...just remember that the income tax was going to affect only the rich.
“A wealth tax and 15 percent global minimum tax are under consideration,”
Seems to me the countries that won’t adopt that are the ones that the US companies will move their headquarters to and avoid the high US taxes like they did during Osama Obama’s high corporate tax years.
” Primarily due to public outrage, Democrats have since raised the threshold $600 amount to $10,000.”
How about raising it to “none of your f#####g business”?
That is the correct answer. Thy already have investigative powers if they suspect criminal activity they want to investigate. They have a criminal investigations division for crying out loud.
Seems like the democrats are throwing a lot of Hail Marys on the tax issue now.
The deep state is being made a 4th branch of government.
That is 10K per year?
$833.00 a month.
That is still just about 100% of the entire population.
.
Pay no attention to the man behind the yellow curtain, you know...
Politicians are to citizens, as the scorpion was to the frog. They lie, it’s what they do.
Not one dime said Dementia Joe.
He meant trillions of dimes.
That is how liars talk.
Then, when the “value” of unsold assets goes down, they MUST refund taxes paid.
Just a sneaky way of taking some of it every year.
They are never satisfied. They will take everything if they are not stopped.
FU IRS
FU IRS EMPLOYEES
FJB!
My Grandfather went through the Russian Revolution. His parents had an independent family farm and considered to be “Kulaks”
The Bolsheviks attacked them early on and somehow his parent were able to get he and his brother out of Ukraine and a jobs in the US army fighting WWI. His parents later were killed during the Holodomor.
We are now watching American “Kulaks” being attacked. An attack on the middle class.
📌
Surely it is time to replace the Marxist inspired “progressive” income tax with the FAIRtax and abolish the IRS!
Go to https://www.bigsolution.org to find out how to help us do that!
AND, while we are at it, replace the anti-American LIEberal/Socialist/Marxist/Fascist/Democrats with Real Americans who put America First!
A pretty dream i wish coulld come true
I don’t even agree with the idea that profitable turnover inside a mutual fund should be taxable. I think it’s the find share that should be treated as the asset, not the assets owned by the fund.
Needs to start at individual states level
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