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Biden is set to propose higher taxes for the rich. Here's how they work.
ABC News ^ | 2/7/23 | ABC

Posted on 02/07/2023 4:54:11 PM PST by MAGA2017

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To: MAGA2017

It’s a show. There will be loopholes for politicians and groups that pay off the dems.


21 posted on 02/07/2023 5:18:21 PM PST by Marko413
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To: MAGA2017
The wealthy do not pay taxes like the average taxpayer. They shelter taxable items, they control their income, they charge off their expenses to businesses, non-profits, etc, etc.

Question Joe, will you be paying taxes on all the graft you used to buy your $2.4 million dollar beach house?

22 posted on 02/07/2023 5:19:11 PM PST by Lockbox (politicians, they all seemed like game show hosts to me.... Sting)
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To: ifinnegan

“The tax rate would apply both to income and unrealized gains, a measure of the value a person’s unsold investments have accumulated.” If this became law, it might be the spark that starts a civil war.


23 posted on 02/07/2023 5:19:22 PM PST by LambSlave
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To: Lockbox

The middle class always gets soaked.


24 posted on 02/07/2023 5:19:28 PM PST by dfwgator (Endut! Hoch Hech!)
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To: Marko413

Tax them at 100% over an income of $1 million. Who do they vote for anyway?


25 posted on 02/07/2023 5:19:49 PM PST by DIRTYSECRET
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To: MAGA2017

10% tax increase on everything, to be deposited directly into his offshore bank accounts.


26 posted on 02/07/2023 5:20:22 PM PST by Newtoidaho (All I ask of living is to have no chains on me.)
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To: MAGA2017

Just the usual bait and switch from the leftists from which the MSM will dutifully cover to avoid the true problem of the $31,000,000,000,000 debt we owe the goobermint. Yes, the grand plan of redistribution of wealth which is going to make the country crash and burn soon enough anyway.


27 posted on 02/07/2023 5:24:50 PM PST by quantim (Victory is not relative, it is absolute. )
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To: MAGA2017

He’s back to pulling the class warfare page from the socialist playbook. The fiscal problems our nation faces are not caused by under taxation. Tax revenues are at all-time highs thanks to Trump’s tax cuts. Our fiscal problems come from over spending, which really is redistribution of wealth. Part of that is corporate welfare. If Biden wants to wage war on the rich, don’t raise taxes, cut corporate welfare.


28 posted on 02/07/2023 5:28:39 PM PST by ConservativeInPA (Stupidly is a moral problem, not an intellectual problem. )
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To: Seruzawa

Bingo! The millionaires all have carveout, including the Biden Bros. Just for show. Taxes will fall on the middle class.


29 posted on 02/07/2023 5:34:11 PM PST by Kaiser8408a (z)
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To: MAGA2017

Reuven Avi-Yonah, a law professor at the University of Michigan, said we should do this.


30 posted on 02/07/2023 5:35:35 PM PST by Trumpisourlastchance
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To: babble-on

raise taxes and cut spending???


31 posted on 02/07/2023 5:40:06 PM PST by ealgeone
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To: sjmjax

we will know when they issue the correction


32 posted on 02/07/2023 5:49:14 PM PST by joshua c (to disrupt the system, we must disrupt our lives, cut the cable tv)
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To: MAGA2017

Before we talk about tax increases why don’t we have a forensic audit of Hunter’s 1040s...the First Brother’s 1040s...and The Big Guy’s 1040s.And let’s start at 2009.


33 posted on 02/07/2023 5:51:58 PM PST by Gay State Conservative (No Doubt Now: Stolen Election)
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To: MAGA2017

Be careful...

Deep State’s definition of rich: Anyone drawing a private sector paycheck.


34 posted on 02/07/2023 5:54:29 PM PST by mewzilla (We will never restore the republic if we don't first secure the ballot box.)
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To: MAGA2017

The GOP is packing up and heading for the hills. This is the RATs plan to fight budget cuts. Don’t need to cut anything, just tax the rich. This is what happens when you spend other people’s money.


35 posted on 02/07/2023 5:55:31 PM PST by abbastanza
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To: ifinnegan

The residents of Martha’s Vineyard had an opportunity to reduce inequality a few months back. We know how that worked out.


36 posted on 02/07/2023 5:55:36 PM PST by Gay State Conservative (No Doubt Now: Stolen Election)
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To: LambSlave

Unrealized gains is insane and pure theft.


37 posted on 02/07/2023 5:59:49 PM PST by ifinnegan (Democrats kill babies and harvest their organs to sell)
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To: MAGA2017

A 20% tax on unrealized gains. Elon Musk lost $200 billion last year. Does he get a $40 billion refund, or does it only work one way?


38 posted on 02/07/2023 6:01:59 PM PST by Armando Guerra
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To: MAGA2017

Tax the rich trickles down to the serfs who pay higher prices or lose employment building yachts, houses, or private planes...

Increasing taxes on industry or the rich means the serfs can bend over and spread’em...


39 posted on 02/07/2023 6:02:38 PM PST by SuperLuminal (Where is the next Sam Adams when we so desperatly need him)
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To: MAGA2017

Won’t be watching

Curse of Oak Island is on


40 posted on 02/07/2023 6:12:56 PM PST by Nifster ( EI see puppy dogs in the clouds )
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