A simple economic lesson... raise capital gains to 43% will do what?

[jc456]

Explain how Wall Street failed and why the country had to bail them out in 2008

People didn’t pay their mortgages, banks then sold those bad notes and badda boom

 

[john doe 101]

Yep, your way of thinking - so to speak - will put our nation back five centuries

That isnt a bug in their plan. That's the main feature. I mean, if things improve, eventually they'll run out of "the others" to blame for everything.

 

[john doe 101]

People didn’t pay their mortgages, banks then sold those bad notes and badda boom

People like you always have a knack for boiling down a complex multi-faceted issue that requires one to have a nuanced discussion into one oversimplified sentence.

 

[Rye Catcher]

Flash
Yup. Cutting taxes brought more money into the economy and Fed coffers than raising them ever did. The Dems never learned that lesson but Kennedy, Reagan and Trump sure did.

The Ryan, McConnell, Trump Axis cut taxes all right, and our nation's deficit grew and grew with nothing to show for the spending. Of course the Republicans want to eliminate social security, Medicare, Medicaid and the ACA to account for building fences which can be tunneled under, climbed over or knocked down by Hurricanes, Tornadoes, heavy equipment and even wire cutters.

 

[Rye Catcher]

People like you always have a knack for boiling down a complex multi-faceted issue that requires one to have a nuanced discussion into one oversimplified sentence.

Yep, they are known as Idiot-Grams.

 

[SavannahMann]

People didn’t pay their mortgages, banks then sold those bad notes and badda boom

Yep. Clueless.

 

[JohnDB]

There's a REASON why many politicians have been scooping up massive quantities of dividend paying stocks...

Just saying.

 

[pknopp]

An excellent example of creating a caste system, the poor remain poor and the wealthy will thrive. Then, of course the death tax will be eliminated, establishing a Royalty. Yep, your way of thinking - so to speak - will put our nation back five centuries.

If you say so even though you explained nothing as far as how this all would happen. (Because you can't)

 

[SassyIrishLass]

• President Joe Biden is expected to raise long-term capital-gains tax for the wealthiest Americans to 43.4%, including a surtax. That would be higher than the top federal tax rate on wage income. How the Biden capital gains tax proposal would hit the wealthy

How the Biden capital gains tax proposal would hit the wealthy

President Joe Biden is expected to double the top long-term capital gains rate to 43.4%. But investors shouldn't necessarily rush for the exits.

www.cnbc.com

"Unintended Consequences"...
1) Analyses show that every 10% gain in the capital gains tax rate leads to a 7% change in capital gains realizations. That suggests Biden’s rate increase — which represents a 66% effective increase in the rate, could lead to a 45% to 50% increase in capital gains sales, which could create a large downward force in the market.
So this would mean 401K fund managers would be selling easily 50% reduction in values.
So what are 401ks value today:
About one-third of U.S. adults (35%) said they personally owned stocks, bonds or mutual funds outside of retirement accounts in a Pew Research Center survey from September 2019.
With 39% of the $6 trillion total 401K assets invested in the market..or about $2.4 Trillion will be at risk of dropping at least 50% in value.

401(k) Plan Research: FAQs

Frequently Asked Questions About 401(k) Plan Research How la

www.ici.org

Now that is just the affect on stock market and then on 401ks and then on the 60 million Americans with 401ks.

401(k) Plan Research: FAQs

Frequently Asked Questions About 401(k) Plan Research How la

www.ici.org

Now what about jobs in America?
At one point under Trump

U.S. companies have repatriated $1 trillion since tax overhaul​

U.S. companies have repatriated $1 trillion since tax overhaul

That's still short of the $4 trillion in overseas profits that President Trump would return as a result of the 2017 tax law.

www.latimes.com

Corporations have brought back more than $1 trillion of overseas profits to the U.S. since Congress overhauled the international tax system and prodded companies to repatriate offshore funds, a report showed Thursday. (snip)
Investment banks and think tanks have estimated that American corporations held $1.5 trillion to $2.5 trillion in offshore cash at the time the law was enacted. Before the overhaul, companies were incentivized to keep profits overseas because they owed a 35% tax when bringing it back and could defer payment by keeping funds offshore.
The law set a one-time 15.5% tax rate on cash and 8% on non-cash or illiquid assets.
Compare and contrast the way that Presidents Trump and Obama chose to stimulate the American economy, each of them generating roughly a trillion dollars in “stimulus.”

One trillion dollars have flowed into the American economy as Trump’s tax law changes allowed companies to repatriate profits without tax penalty

President Trump’s tax reform has delivered more than a trillion dollars of stimulus to the American economy through corporations repatriating profits held overseas in order to avoid penalties that the tax law had imposed on bringing home the fu...

www.americanthinker.com

In summary folks... all the economic benefits of the "repatriation" and the capital gains tax cuts will result in nearly $10 trillion in economic losses to 60 million Americans at the minimum!

Demoquacks can find a way to tax anything...next up air

 

[john doe 101]

Demoquacks can find a way to tax anything...next up air

Cap gains are already taxed. he didnt "find" anything, dummy.

 

[Meister]

The highest bracket in the 50's was 90% during one of the greatest economic booms in American history. That was deemed fair.

The "hard working Americans" that you are referring to will not feel a tax increase. You somehow conflate the wealthiest of Americans with the "hard working Americans". It's pretty amazing.

Well, it was 90% with a shitload of loopholes to offset the 90%.
We don't have those loopholes today. Thank you Trump.

 

[Rye Catcher]

If you say so even though you explained nothing as far as how this all would happen. (Because you can't)

"The Ryan, McConnell, Trump Axis cut taxes all right, and our nation's deficit grew and grew with nothing to show for the spending. Of course the Republicans want to eliminate social security, Medicare, Medicaid and the ACA to account for building fences which can be tunneled under, climbed over or knocked down by Hurricanes, Tornadoes, heavy equipment and even wire cutters."

The top two tax brackets in the Tax Fraud were eliminated and corroborate taxes were reduced. Of course the standard deduction was doubled but that sunsets in 2017 and the corporate taxes remain the same and the top two tax brackets do not sunset.

 

[SassyIrishLass]

Cap gains are already taxed. he didnt "find" anything, dummy.

Wooosh, right over your tin foiled hat, dummy

You loons can find a way to tax anything and then keep increasing the tax....like you have with capital gains. Or gas taxes

Now sit down, noob

 

[Rye Catcher]

Well, it was 90% with a shitload of loopholes to offset the 90%.
We don't have those loopholes today. Thank you Trump.

Please post the 90% of loopholes that have been repealed and who benefited from said loopholes and who suffered?

 

[john doe 101]

Wooosh, right over your tin foiled hat, dummy

You loons can find a way to tax anything and then keep increasing the tax....like you have with capital gains. Or gas taxes

Now sit down, noob

I merely responded to the words you wrote.

Under Nixon, cap gains were also increased in 1969, capping them at 35% by 1972. But I guess Nixon was a RINO, right? LOL!

 

[SassyIrishLass]

I merely responded to the words you wrote.

Under Nixon, cap gains were also increased in 1969, capping them at 35% by 1972. But I guess Nixon was a RINO, right? LOL!

Don't care, tinfoil

 

[Meister]

Rye, go ahead and argue with yourself, you probably do that on a daily basis.

here are a few reasons for the discrepancy between the 91 percent top marginal income tax rate and the 16.9 percent effective income tax rate of the 1950s.

• The 91 percent bracket of 1950 only applied to households with income over $200,000 (or about $2 million in today’s dollars). Only a small number of taxpayers would have had enough income to fall into the top bracket – fewer than 10,000 households, according to an article in The Wall Street Journal. Many households in the top 1 percent in the 1950s probably did not fall into the 91 percent bracket to begin with.
• Even among households that did fall into the 91 percent bracket, the majority of their income was not necessarily subject to that top bracket. After all, the 91 percent bracket only applied to income above $200,000, not to every single dollar earned by households.
• Finally, it is very likely that the existence of a 91 percent bracket led to significant tax avoidance and lower reported income. There are many studies that show that, as marginal tax rates rise, income reported by taxpayers goes down. As a result, the existence of the 91 percent bracket did not necessarily lead to significantly higher revenue collections from the top 1 percent.
• 

  Taxes on the Rich Were Not That Much Higher in the 1950s

  Despite high marginal income tax rates, the top 1% of taxpayers in the 1950s only paid about 42% of their income in taxes. See more about taxes on the rich.

  taxfoundation.org

Before you go half cocked, look at the post to whom I was responding to.

 

[john doe 101]

Don't care, tinfoil

I know you dont care. You're allergic to facts.

 

[Dragonlady]

• President Joe Biden is expected to raise long-term capital-gains tax for the wealthiest Americans to 43.4%, including a surtax. That would be higher than the top federal tax rate on wage income. How the Biden capital gains tax proposal would hit the wealthy

How the Biden capital gains tax proposal would hit the wealthy

President Joe Biden is expected to double the top long-term capital gains rate to 43.4%. But investors shouldn't necessarily rush for the exits.

www.cnbc.com

"Unintended Consequences"...
1) Analyses show that every 10% gain in the capital gains tax rate leads to a 7% change in capital gains realizations. That suggests Biden’s rate increase — which represents a 66% effective increase in the rate, could lead to a 45% to 50% increase in capital gains sales, which could create a large downward force in the market.
So this would mean 401K fund managers would be selling easily 50% reduction in values.
So what are 401ks value today:
About one-third of U.S. adults (35%) said they personally owned stocks, bonds or mutual funds outside of retirement accounts in a Pew Research Center survey from September 2019.
With 39% of the $6 trillion total 401K assets invested in the market..or about $2.4 Trillion will be at risk of dropping at least 50% in value.

401(k) Plan Research: FAQs

Frequently Asked Questions About 401(k) Plan Research How la

www.ici.org

Now that is just the affect on stock market and then on 401ks and then on the 60 million Americans with 401ks.

401(k) Plan Research: FAQs

Frequently Asked Questions About 401(k) Plan Research How la

www.ici.org

Now what about jobs in America?
At one point under Trump

U.S. companies have repatriated $1 trillion since tax overhaul​

U.S. companies have repatriated $1 trillion since tax overhaul

That's still short of the $4 trillion in overseas profits that President Trump would return as a result of the 2017 tax law.

www.latimes.com

Corporations have brought back more than $1 trillion of overseas profits to the U.S. since Congress overhauled the international tax system and prodded companies to repatriate offshore funds, a report showed Thursday. (snip)
Investment banks and think tanks have estimated that American corporations held $1.5 trillion to $2.5 trillion in offshore cash at the time the law was enacted. Before the overhaul, companies were incentivized to keep profits overseas because they owed a 35% tax when bringing it back and could defer payment by keeping funds offshore.
The law set a one-time 15.5% tax rate on cash and 8% on non-cash or illiquid assets.
Compare and contrast the way that Presidents Trump and Obama chose to stimulate the American economy, each of them generating roughly a trillion dollars in “stimulus.”

One trillion dollars have flowed into the American economy as Trump’s tax law changes allowed companies to repatriate profits without tax penalty

President Trump’s tax reform has delivered more than a trillion dollars of stimulus to the American economy through corporations repatriating profits held overseas in order to avoid penalties that the tax law had imposed on bringing home the fu...

www.americanthinker.com

In summary folks... all the economic benefits of the "repatriation" and the capital gains tax cuts will result in nearly $10 trillion in economic losses to 60 million Americans at the minimum!

IF ANY OF THE REPUBLICAN TAX AND EMPLOYMENT POLICIES HAD BEEN EFFECTIVE, THE USA WOULD NOT HAVE THE WIDEST WEALTH AND WAGE GAPS IN THE WORLD. THE AMERICAN ECONOMY WOULD NOT HAVE CRASHED 3 TIMES IN THE PAST 40 YEARS. AND WAGES, AS A PERCENTAGE OF COSTS, WOULD NOT BE AT THE SAME LEVELS AS THE GUILDED AGE - BEFORE EMPLOYMENT REGULATION, BEFORE MINIMUM WAGES, AND BEFORE UNIONS.

THE REPUBLICAN PARTY HAS WIPED OUT ALL WORKER WAGE BENEFITS FOR THE PAST 150 YEARS, WITH THEIR REFUSAL TO RAISE MINIMUM WAGES.

THE REPUBLICAN PARTY HAS OVERSEEN THE GREATEST TRANSFER OF WEALTH IN WORLD HISTORY - ALL FROM WORKING AND MIDDLE CLASS AMERICANS TO THE TOP 10% OF CORPORATIONS AND INDIVIDUALS.

OBAMA CHANGED NEITHER WEALTH NOR EMPLOYMENT LAW, AND HIS MOST SIGNIFICANT WAGE CHANGE - OVERTIME REGULATIONS, WAS OVERTURNED BY DONALD TRUMP BEFORE IT WENT INTO EFFECT.

REPUBLICAN EMPLOYMENT AND ECONOMIC POLICY HAS BEEN A DISASTER FOR THE NATION, AND HAS CREATED THE GREATEST WEALTH AND INCOME INEQUITY IN THE FIRST WORLD, AND IS STEADILY DEPLETING THE MIDDLE CLASS AND LOWERING LIFE EXPECTANCY IN THE USA.

 

[Dragonlady]

Don't care, tinfoil

Of course you oppose capital gains tax. Day traders will be outta business when that happens. You'll actually have to work for a living instead of leaching off the labour of others.