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There are taxes on capital gains. They need to be raised!
If you want to stop growth, that's exactly what you do.
The reason capital gains taxes are not ridiculous is to encourage investments in the US. If tax rates are too high, the risk of making money is not worth it. Investors would rather invest in tax-free bonds or off shore investments.
So now we make capital gains taxes 50%. You purchased your home in 1990 for 150K. Today you sold it for 250K. You made 100K from your long-term investment. But now you owe government 50K of that for capital gains taxes.
That $20 trillion debt is not going to pay itself off.
Thank you, Woodrow Wilson.1812 is world that no longer exist. The United States has interest all over the world that is vital to its economy and its survival. As time goes by, the world becomes ever more interdependent. Isolationism has been dead since the 19th century. A country like Switzerland is dependent upon NATO for its true security.
I agree, the US had absolutely no business in WWI and it totally screwed up Europe for a long time, because it was an evil war.
Thank you Alexandria Ocasio-Cortez!!!
Poll: A majority of Americans support raising the top tax rate to 70 percent
Rep. Alexandria Ocasio-Cortez (D-N.Y.) and her Republican critics have both called her proposal to dramatically increase America's highest tax rate "radical" but a new poll released Tuesday indicates that a majority of Americans agrees with the idea.
In the latest The Hill-HarrisX survey, which was conducted Jan. 12 and 13 after the newly elected congresswoman called for the U.S. to raise its highest tax rate to 70 percent, found that a sizable majority of registered voters, 59 percent, supports the idea.
Who are you kidding? Federal taxes are just the start. Then add social security/medicare. And we are ready to start the race. We are taxed at that rate also. Only we add other things like massive security state and military that denies us things. We do get a benefit of our fiat currency used as a medium of exchange without a surcharge for much of our business and trade. There are hundreds and thousands of taxes we pay. And it adds up. Also, many of the products made here are taxed at each level of production until the completed product. That can be 20% of the cost before we are charged again as a sales tax and more.There are taxes on capital gains. They need to be raised!
If you want to stop growth, that's exactly what you do.
The reason capital gains taxes are not ridiculous is to encourage investments in the US. If tax rates are too high, the risk of making money is not worth it. Investors would rather invest in tax-free bonds or off shore investments.
So now we make capital gains taxes 50%. You purchased your home in 1990 for 150K. Today you sold it for 250K. You made 100K from your long-term investment. But now you owe government 50K of that for capital gains taxes.
The United States has one of the lowest tax rates in the world in terms of a revenue collected per year as a percentage of its GDP. U.S. tax revenues are only about 22% of annual GDP while in a country like Norway, they amount to nearly 60% of GDP. Is business and investment dead in Norway? Nope. Norway has a strong economy.
Typical libstain wants your money so she can spend it. Fuck all that.
We have a Second Amendment and should have no security problems in our free States. No anarchy allowed.we don't need the taxes if we abolish our alleged wars on crime, drugs, and terror.
Just declare anarchy.
Have you got your guns and farmland?
We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defense, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.
Government is socialism. We have a Constitution.Your premise seems to be everything belongs to the collective. You are advocating slavery. Ones earnings belong to no one but the earner. The great experiment in collectivism (the Soviet Union) failed. You are one of those who refuses to learn from history.
None. We had a real Commander in Chief for that one.Bosnian War.If we go to war with Russia it won’t be with tanks. Their tanks are for intimidating Ukraine and their neighbors.It is! We can start with the bloated Defense budget. We don't need billions of spending on new tanks.
Yes we do. The Russians have a brand new tank called the T-14 Armata have leaped ahead of the United States and the West in Tank technology. First production model was released in 2015, although full production to replace Russia's tank fleet has not started yet. Still though, that's way ahead of the United States and other Western countries. The last time the United Sates started mass producing a new tank was in 1981. Roughly the same time period for the United Kingdom and Germany. Germany is dusting of plans to build the Leopard III tank with France. The United States is still just upgrading the old M1 tank without any new firm plans to replace it. As a result, In the 2020s, NATO will have a much greater challenge in defending its eastern border especially in areas like Estonia and Latvia.
What was the last war overseas that we fought without tanks?
Really.......you consider that a real war? How many Americans were injured or killed during that vicious war?
Sorry bud but my neighborhood dont allow trailers. We have to keep our RV's in offsite storage.But NLT is gonna move out of that trailer park and start that company that makes him $10M per year. So he must oppose this NOW.We've already established that neither you, nor anyone in here, nor perhaps 80% plus of Americans will be affected by such a tax planTypical libstain wants your money so she can spend it. Fuck all that.
Would your income be affected by Ocasio Cortez’s 70% marginal tax rate plan
Stop being so melodramatic.
we need jobs, not polar bears!
oh dear Godwe need jobs, not polar bears!
Wait, why not both? Polar bears FTW!
I don't care what the majority of Americans want in this particular case (though usually, I do).
Most Americans are not in the tax bracket in question - naturally they will be for raising the tax rate in a tax bracket they have nothing to do with.
The ONLY, truly fair tax is where every American (who is not poor - it is pointless to tax poor people) pays EXACTLY the same tax rate...including capital gains.
Raising taxes on anybody has an indirect effect on everybody.
If it's one thing I learned, it's that the rich guy never takes the hit. Come up with some tax scheme for companies, they simply increase the price of their products, freeze pay increases and benefits for their workers, move some or all operations overseas, and it's the little guy who always ends up paying or getting hurt.
Let's say you came across a small fortune: a small lottery winning, winning a huge lawsuit, being an heir of a wealthy relative. Now you have 200K to do with what you want. Would you risk that money in investments if government is going to take almost 3/4 of it if you make out? It's simply not worth the risk.
People investing money is what makes our world go round., Bring that to a halt and you do the same for our economy.
Tax policy is about what is best for the country as a whole, not the rich, or individuals in the middle class etc. In order for the nation and government to survive and thrive, tax revenue must be raised in the quantities that are needed for national defense and other government functions regardless of whether you think a certain rate is "fair" or penalizes success.
The give away to the rich will become very apparent for many when they do their taxes. For those with a large family and a mortgage, a $24,000 standard deduction is not equal to the loss of personal exemptions + deductions. For single parents it can be even worse.35 years now of GOP giveaway to the rich has ruined the middle class and the country. You are absolutely Clueless. If the GOP didn't have lies and racism, they would have nothing at all. Always a disaster.... C 1929 1989 2008 allowing 911 through sheer incompetence, the stupidest Wars ever, and now trade wars tariff fights and chaos for no good reason...I doubt she has any plan. She's just throwing that out to see the reaction.I would like to know which members of the USMB here warm over $10 million a year.
The income above 10 million will be taxed at 70%.
Please vote in my poll.
It depends on what the rest of the tables would look like. Would she double all the marginal rates?
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I think you're probably right, but I just wanted to throw a wet blanket on the OP. He's clueless about her plans. Ya never want to give a commie power. They'll pick your pocket clean.
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The United States has one of the lowest tax rates in the world in terms of a revenue collected per year as a percentage of its GDP. U.S. tax revenues are only about 22% of annual GDP while in a country like Norway, they amount to nearly 60% of GDP. Is business and investment dead in Norway? Nope. Norway has a strong economy.
If you want to stop growth, that's exactly what you do.
The reason capital gains taxes are not ridiculous is to encourage investments in the US. If tax rates are too high, the risk of making money is not worth it. Investors would rather invest in tax-free bonds or off shore investments.
So now we make capital gains taxes 50%. You purchased your home in 1990 for 150K. Today you sold it for 250K. You made 100K from your long-term investment. But now you owe government 50K of that for capital gains taxes.
Raising taxes on the rich does not hurt the economy and brings in vital tax revenue to pay for government programs including defense. The best policy is maximizing tax revenue coming into the government without hurting economic growth. Raising taxes on the rich income, capital gains, land, property accomplishes that goal. You want to keep taxes low or next to nothing on the lower class and middle class since they do most of the consumer spending. 70% of GDP growth comes from consumer spending.
