Posted on 04/30/2024 8:32:44 AM PDT by Lazamataz
The Biden administration’s analysis of its revenue proposals for fiscal year 2025 argues targeted tax hikes that disproportionately affect white people would ease racial wealth inequality.
Increasing taxes on capital gains and income-based wealth would reduce racial wealth inequality for black and Hispanic families, the Treasury Department outlined in the analysis published in mid-March. The Treasury points out that white families disproportionately hold assets subject to capital gains tax or are in a higher tax bracket, meaning a hike in those taxes would benefit black and Hispanic families. (RELATED: US Economic Growth Slows Down Massively, Well Below Expectations)
The Biden administration argues for taxing capital income for high-income earners at “ordinary rates,” increasing the top rate from 37% to 39.6% for those who earn more than $1 million a year. Taxes on net investment income would also be hiked by 1.2 percentage points to 5% for those who make over $400,000 per year, bringing the total top marginal rate to 44.6%.
(Excerpt) Read more at dailycaller.com ...
This is like fixing a flat tire by letting air out of the other three tires.
“This is like fixing a flat tire by letting air out of the other three tires.”
Priceless!!!
What will they do when everyone identifies as black?
And if he gets a second term, he’ll complete the job of making the country communist.
“ This is like fixing a flat tire by letting air out of the other three tires.”
You colonialist white oppressor .
NOT EVERYONE HAS 4 TIRES. Some only have poor worn-out sandals .
(That’s how they respond!)
“How much of the capital “gains” are from the Treasury and Federal Reserve continually devaluing the currency?”
Excellent point.
Also, the climate change Green Pile of C**P is very regressive but the Left doesn’t care about that. The poor have to pay more to drive, for their electric stoves and electric heat and light, but it is a drop in the bucket for the rich.
https://fred.stlouisfed.org/series/APUS12A72610
.
We are a post-Constitutional Democracy now.
The Federal Republic is dead.
Get out the guillotine Ill be the first to pull the release on these pri###
I'm so black, that even my blackness is black.
“How can any of this be Constitutional?”
It isn’t based on race per se. It raises capital gains taxes to the moon for everybody, but because most of capital gains are supposedly earned by whites, that tax would hit whites hardest.
It would also hit Asians AND rich black people as well, and anyone that invests in the stock market or real estate.
It would be an utter abomination for the economy.
Hopefully the thin majority republican house will kill this.
But do you speak jive?
They don’t want equal opportunities, they want equal outcomes.
Cutty leg ‘er down a smack ‘em yak ‘em! COL’ got to be! S’mofo butter layin’ me to da’ BONE! Jackin’ me up… tight me!
Maybe the government will require everyone to take DNA tests to discover their racial ancestry. How much sub-Saharan African ancestry would be needed for the lower tax rate?
Once again the left bastardized the language. DEI is contradictory.
I see. The Harris/Biden regime thinks that blacks and hispanics are just stupid little children who can't properly handle their own money ... so they have to drag White people down to the same level. For equity.
Racial Criteria = Socialism
Guess why the democrat party has sponsored every program that promotes it.
Media waves hands
Bonus round: Fat city tax money to blow.
“Identyfying” black is good enough, right?
I identify as black, Hispanic and hell I might even have a little injun in me. Do I get a three fore?
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