Biden On Capital Gains Tax: “We Should Raise The Tax Back To 39.6 Percent”

[jc456]

The left also tax debts. Take out a mortgage or re-finance your house in some Dem states and they tax the loan. Incredible I know.

Um, McConnell and Trump took away my mortgage interest and charitable deductions, and the added standard dedutction still left me with a tax hike

no, your state did. you're confused.

sure. LOL

it's a really simple question, does every state have the same tax structure? Can you answer honestly? if you can, then you'll understand that everyone in every other state has been paying more taxes because of your deductions for a long long time. BTW, I live in Illinois one of those higher taxed states. I'm not bitching. I understand.

Dude you have no idea about me. Go away.

the Salt tax hike was bs, but that didn't affect me.

so you won't admit it. you're as a bad as a bad drunk then.

 

[jc456]

there isn't a dollar in the country that isn't worth taxing to a leftfk then their own.

The left also tax debts. Take out a mortgage or re-finance your house in some Dem states and they tax the loan. Incredible I know.

dude, I live in Illinois, the most taxed state in the Union.

Do you have a leaf tax? Own a tree in some Dem areas and you get slapped with a leaf tax.

you'd have to explain what a leaf tax is. I pay five dollars a month for pick up.

That liberal run city first passed a law making it illegal for a home owner to cut down a tree on their own property. They will whack you with 10's of thousands of dollars in fines if you do. Followed by a 2nd law taxing homeowners for cleaning up the leaves that fall into the street.

they clean up leaves in your street? not my city. I rake them to the curb, they suck them with a vacuum and we're all good. again, it's five bucks a month.for the year.

 

[pknopp]

The (D)'s got wiped out because Obama failed. I am NOT defending the Republican hypocrisy so I do not have to keep anything in mind.

The dems didn't get "wiped out." Hillary lost only in the EC despite the FBI violated 50 years of practice and inserting on the eve of an election. Even then, the dems gained seats, and took the House commandingly in 18.

I'd agree that Obama failed to support progressive economics during his second term, and that Hillary offered nothing but a return to 2000

2010. They got wiped out.

Ah that's true. But the gop ran on misinformation. It did show that any entitlement change better have great popular support or be bipartisan. The conservative dem blue dogs got wiped out, and Pelosi knew they would, but she passed the law anyway because she believed in universal care. I get annoyed the AOC and the posse sometimes. -:

Obama ran and won on something the (D)'s did not do. Obama promised to debate the issue of health care in the open. It was done behind closed doors.

Open promised to post it online and give people time to read what was being presented.

The (D)'s lost it when Pelosi made her stupid statement of needing to pass Obamacare to find out what was in it.

And then Obama lied about what was in it.

ehhh, there was plenty of debate. I was not in favor of the bill that passed, but the gop primaried out anyone who proposed any universal change .. such as across the board tax credits.

Once the gop opted out, there was no open debate, just horse trading. Welcome to the world of politics.

I support UHC. Obama made it harder to get it done.

 

[bendog]

The dems didn't get "wiped out." Hillary lost only in the EC despite the FBI violated 50 years of practice and inserting on the eve of an election. Even then, the dems gained seats, and took the House commandingly in 18.

I'd agree that Obama failed to support progressive economics during his second term, and that Hillary offered nothing but a return to 2000

2010. They got wiped out.

Ah that's true. But the gop ran on misinformation. It did show that any entitlement change better have great popular support or be bipartisan. The conservative dem blue dogs got wiped out, and Pelosi knew they would, but she passed the law anyway because she believed in universal care. I get annoyed the AOC and the posse sometimes. -:

Obama ran and won on something the (D)'s did not do. Obama promised to debate the issue of health care in the open. It was done behind closed doors.

Open promised to post it online and give people time to read what was being presented.

The (D)'s lost it when Pelosi made her stupid statement of needing to pass Obamacare to find out what was in it.

And then Obama lied about what was in it.

ehhh, there was plenty of debate. I was not in favor of the bill that passed, but the gop primaried out anyone who proposed any universal change .. such as across the board tax credits.

Once the gop opted out, there was no open debate, just horse trading. Welcome to the world of politics.

I support UHC. Obama made it harder to get it done.

I think that for better or worse, we are well on our way to medicare for all. The dems next step should be just to include a public option with tax credits for those without private employer sponsored hc…. and maybe letting those with private insurance switch to medicare.

It's not what I'd have liked back in 1992 or even 2008, but ….. it is what it is.

 

[my2¢]

I hate the Fair Tax Act in that it adds insult to injury for those disadvantaged, here I'm mainly thinking of families with expenses such as child care, medical care, senior care facilities.

Plus being in a 12% tax bracket, I'd rather have an effective tax rate of 13.6% rather than 30% . Currently to buy a $500 TV set I'd need to earn $568, of that $568, the government takes $68 off the top and I have $500 left over for the TV. $68/$500 = 13.6%.

Under the Fair Tax that touts a 23% tax rate I'd need to earn $650 for that TV. Seller pays a 30% tax, $500 x 30% = $150. Fair Tax proponents explain I'm only paying 23% because $150/$650 = 23%.

What I do like about the Fair Tax is its confidentiality. But that comes at one hell of a price.

I like pknopp's logic. The $1000 somebody earns trading stocks should be treated no differently tax-wise than the $1000 a guy earned for laying brinks.

so do away with capital gains?

Yep, think that's pretty self explanatory.

 

[rightwinger]

If you have an IRA or a 401K, chances are that they invest in companies, unless you choose only government bonds as your investment options, and those companies pay capital gains taxes. So every extra dollar that they have to pay in cap gains taxes makes it harder for them to make money for your IRA and 401K.

Make them pay more in capital gains means we have to pay less in income tax

The wealthy rely on capital gains
Working class relies on income

 

[BluesLegend]

If you have an IRA or a 401K, chances are that they invest in companies, unless you choose only government bonds as your investment options, and those companies pay capital gains taxes. So every extra dollar that they have to pay in cap gains taxes makes it harder for them to make money for your IRA and 401K.

Make them pay more in capital gains means we have to pay less in income tax

The wealthy rely on capital gains
Working class relies on income

The government already collects enough in taxes, let them cut spending.

 

[rightwinger]

If you have an IRA or a 401K, chances are that they invest in companies, unless you choose only government bonds as your investment options, and those companies pay capital gains taxes. So every extra dollar that they have to pay in cap gains taxes makes it harder for them to make money for your IRA and 401K.

Make them pay more in capital gains means we have to pay less in income tax

The wealthy rely on capital gains
Working class relies on income

The government already collects enough in taxes, let them cut spending.

What is enough?

Let We the People decide what services we want
Then pay for them

 

[BluesLegend]

If you have an IRA or a 401K, chances are that they invest in companies, unless you choose only government bonds as your investment options, and those companies pay capital gains taxes. So every extra dollar that they have to pay in cap gains taxes makes it harder for them to make money for your IRA and 401K.

Make them pay more in capital gains means we have to pay less in income tax

The wealthy rely on capital gains
Working class relies on income

The government already collects enough in taxes, let them cut spending.

What is enough?

Let We the People decide what services we want
Then pay for them

$4 freaking TRILLION a year hello.

 

[Weatherman2020]

Democrat presidential candidate Joe Biden said he’d like to raise the capital gains tax rate to 39.6 percent, a near doubling of the current 20 percent.

Biden made the remarks on Wednesday, August 21 during an interview with Iowa Public Television:

“I believe we should, in fact, the capital gains tax should be at what the highest minimum tax should be, we should raise the tax back to 39.6 percent instead of 20 percent,” Biden said yesterday.

Raising the capital gains tax would harm Americans’ ability to build a nest egg and hurt the value of their homes, farms, and businesses.

Biden’s comments and his long Senate voting record mean voters should expect him to push for capital gains tax hikes if elected. During his time in the Senate, Biden consistently voted against tax cuts on capital gains.

In 2003, Biden voted against the reduction in the capital gains rate from 20 percent to 15 percent. In 2005 and 2006, Biden voted against extending the 15 percent rate.

In 2012, then-Vice President Biden and President Obama insisted the cap gains rate revert to 20 percent.

Biden and Obama then piled on another 3.8 percent capital gains tax hike -- the Net Income Investment Tax -- one of the many tax increases in Obamacare. The 3.8 percent tax hike took effect Jan. 1, 2013.

Currently, long-term capital gains are taxed at zero percent, 15 percent, or 20 percent, depending on income level.

Households subject to Obamacare’s 3.8 percent Net Income Investment Tax end up paying a 23.8% rate. And under Biden’s cap gains scheme, such households will face a 43.4 percent rate.

If you want to stay up-to-date on Democratic candidates and their threats to raise taxes, visit www.atr.org/HighTaxDems.

(Excerpt) Read more at atr.org ...

-----'----
You just don’t get it. It’s not your money - it’s the Government’s. You should thank the Government for letting you to look at the money for a little while!

I seem to remember that ANY MENTION of raising a tsax "Read my lips, NO NEW TAXES" was a death call for a candidate!

Why do the Left think raising of taxes is a winner?

 

[Weatherman2020]

If you have an IRA or a 401K, chances are that they invest in companies, unless you choose only government bonds as your investment options, and those companies pay capital gains taxes. So every extra dollar that they have to pay in cap gains taxes makes it harder for them to make money for your IRA and 401K.

Make them pay more in capital gains means we have to pay less in income tax

The wealthy rely on capital gains
Working class relies on income

The government already collects enough in taxes, let them cut spending.

What is enough?

Let We the People decide what services we want
Then pay for them

As soon as I hear Democrats are writing voluntary checks to the IRS I might listen.

Until then, they can die.

 

[rightwinger]

If you have an IRA or a 401K, chances are that they invest in companies, unless you choose only government bonds as your investment options, and those companies pay capital gains taxes. So every extra dollar that they have to pay in cap gains taxes makes it harder for them to make money for your IRA and 401K.

Make them pay more in capital gains means we have to pay less in income tax

The wealthy rely on capital gains
Working class relies on income

The government already collects enough in taxes, let them cut spending.

What is enough?

Let We the People decide what services we want
Then pay for them

$4 freaking TRILLION a year hello.

For a wealthy country with 330 million people
It is up to the people to decide what they expect from their government

 

[BluesLegend]

If you have an IRA or a 401K, chances are that they invest in companies, unless you choose only government bonds as your investment options, and those companies pay capital gains taxes. So every extra dollar that they have to pay in cap gains taxes makes it harder for them to make money for your IRA and 401K.

Make them pay more in capital gains means we have to pay less in income tax

The wealthy rely on capital gains
Working class relies on income

The government already collects enough in taxes, let them cut spending.

What is enough?

Let We the People decide what services we want
Then pay for them

$4 freaking TRILLION a year hello.

For a wealthy country with 330 million people
It is up to the people to decide what they expect from their government

Or we can just keep whooping the left's ass in elections and tell the left how its going to be while laughing and mocking them.

 

[Weatherman2020]

If you have an IRA or a 401K, chances are that they invest in companies, unless you choose only government bonds as your investment options, and those companies pay capital gains taxes. So every extra dollar that they have to pay in cap gains taxes makes it harder for them to make money for your IRA and 401K.

Make them pay more in capital gains means we have to pay less in income tax

The wealthy rely on capital gains
Working class relies on income

The government already collects enough in taxes, let them cut spending.

What is enough?

Let We the People decide what services we want
Then pay for them

$4 freaking TRILLION a year hello.

For a wealthy country with 330 million people
It is up to the people to decide what they expect from their government

That’s why America rejected Hillary and Trump is set to win by a landslide.

 

[Wry Catcher]

For all but the first two years of Obama's Administration Moscow Mitch had one goal in mind, sabotage Obama, as did the Tea Party Republicans who controlled the congress.

Keep in mind how the R's pissed & whined about spending, and now how fiscally irresponsible they are and have been since Jan 20th 2017.

The (D)'s got wiped out because Obama failed. I am NOT defending the Republican hypocrisy so I do not have to keep anything in mind.

The dems didn't get "wiped out." Hillary lost only in the EC despite the FBI violated 50 years of practice and inserting on the eve of an election. Even then, the dems gained seats, and took the House commandingly in 18.

I'd agree that Obama failed to support progressive economics during his second term, and that Hillary offered nothing but a return to 2000

2010. They got wiped out.

Ah that's true. But the gop ran on misinformation. It did show that any entitlement change better have great popular support or be bipartisan. The conservative dem blue dogs got wiped out, and Pelosi knew they would, but she passed the law anyway because she believed in universal care. I get annoyed the AOC and the posse sometimes. -:

Obama ran and won on something the (D)'s did not do. Obama promised to debate the issue of health care in the open. It was done behind closed doors.

Open promised to post it online and give people time to read what was being presented.

The (D)'s lost it when Pelosi made her stupid statement of needing to pass Obamacare to find out what was in it.

And then Obama lied about what was in it.

bullshit ^^^ The patriot party was created by the R's to create a faux grass roots movement to sabotage health care reform. Attending and disrupting members of Democratic caucus members to try and hold meet and greet constituents all summer, using hate and fear of socialism.

DON'T TRY TO REWRITE HISTORY.

 

[Weatherman2020]

If you have an IRA or a 401K, chances are that they invest in companies, unless you choose only government bonds as your investment options, and those companies pay capital gains taxes. So every extra dollar that they have to pay in cap gains taxes makes it harder for them to make money for your IRA and 401K.

Make them pay more in capital gains means we have to pay less in income tax

The wealthy rely on capital gains
Working class relies on income

The government already collects enough in taxes, let them cut spending.

What is enough?

Let We the People decide what services we want
Then pay for them

$4 freaking TRILLION a year hello.

For a wealthy country with 330 million people
It is up to the people to decide what they expect from their government

How much extra are you voluntarily paying to the IRS?

 

[BluesLegend]

bullshit ^^^ The patriot party was created by the R's to create a faux grass roots movement to sabotage health care reform. Attending and disrupting members of the Democratic caucus all summer using hate and fear of socialism.

DON'T TRY TO REWRITE HISTORY.

Oh God the irony. The American people obliterated the Dem party in 2010 in a loss so epic it was the biggest loss Dem's had suffered in nearly 100 years. That's the history, go lick your wounds.

 

[BluesLegend]

Make them pay more in capital gains means we have to pay less in income tax

The wealthy rely on capital gains
Working class relies on income

The government already collects enough in taxes, let them cut spending.

What is enough?

Let We the People decide what services we want
Then pay for them

$4 freaking TRILLION a year hello.

For a wealthy country with 330 million people
It is up to the people to decide what they expect from their government

How much extra are you voluntarily paying to the IRS?

No no no, the left want someone else to pay. Hell ask a lib to leave a tip at dinner or pick up a check and they squeal like stuck pigs.

 

[Wry Catcher]

bullshit ^^^ The patriot party was created by the R's to create a faux grass roots movement to sabotage health care reform. Attending and disrupting members of the Democratic caucus all summer using hate and fear of socialism.

DON'T TRY TO REWRITE HISTORY.

Oh God the irony. The American people obliterated the Dem party in 2010 in a loss so epic it was the biggest loss Dem's had suffered in nearly 100 years. That's the history, go lick your wounds.

Hate and fear mongering works, it's how trump got votes, that and demagoguery.

 

[rightwinger]

Make them pay more in capital gains means we have to pay less in income tax

The wealthy rely on capital gains
Working class relies on income

The government already collects enough in taxes, let them cut spending.

What is enough?

Let We the People decide what services we want
Then pay for them

$4 freaking TRILLION a year hello.

For a wealthy country with 330 million people
It is up to the people to decide what they expect from their government

Or we can just keep whooping the left's ass in elections and tell the left how its going to be while laughing and mocking them.

You are not whooping anyone’s ass

You took a beat down in 2018 and must defend the Senate and White House