This is demonic anti-American administration.
this type of taxation is reason why we have equal number of Senators from each state, if not the larger metropolitan cities and states would dominate the legislature and pass this type of tax, ruining small businesses and farmers without a 2nd thought...
I am pretty anti-tax and ant-big government spending, but in this case - depending on how it is written - it is not necessarily bad.
If I bought apple stock 30 years ago for $1,000, and now it is worth $10 million instead, I would have a huge tax bill if I need to sell it to live on.
But if instead of selling it, I die with it and leave it to my kids, then they sell it for $10,000,005 dollars, they would only have to pay taxes on the 5 dollar gain.
Somehow that doesn’t seem rational - either no one should have to pay taxes on that $10M gain, or everyone should - allowing a small minority of folks to avoid taxes on millions or dollars in gains, by using the stepped up basis, but punishing regular folks who need to cash out their investments in retirement to live on seems to favor the extreme wealthy over the moderate wealthy.
Either write the law so nobody pays capital gains, or everyone pays the same way seems fair to me. Not sure people who have just enough capital gains to live out their lives in retirement should be footing the bill so that the bezo’s of the world can build family wealth dynasties by passing on never-taxed wealth for generations.
Bullshit! The Republicans are not waging war on anything but Trump supporters. On these they are going all out. As far as the Democrats go, all the Republicans are doing to them is kissing their ass and abetting them destroy America.
The wealthy shouldn’t have carried so much water for the left. Take it all.
Really? Thats the only thing they can fight them on?
Every line should be contested...Yes, I understand they want to peel off support here and there but come on..
Hey Joe, how about raising taxes on no talent painters who are prodiginy of no ethics politicians?
I’ll advise Mom to massively increase gift giving.
Raise taxes on the wealthy (everyone) and help pay for his social spending.
How Marxist banking works democrats logic for spending.
Both bills need to be killed.
The “infrastructure” bill is the Trojan horse for the reconciliation package with all the country killing stuff in it and the GOP knows it.
Repubs fighting for capital gains tax as Marxist Dems wage a Maoist revolution.
So GOPe.