Biden Budget Seeks Minimum Tax On Households Worth $100 Million, a significant reorienting of the tax code

[basquebromance]

Biden will unveil a new 20% minimum tax targeting American households worth more than $100 million as part of its 2023 budget, proposing a direct tax on the richest 700 Americans for the first time

class warfare?

Biden Budget Seeks Minimum Tax On Households Worth $100m

The introduction of the minimum tax on the wealthiest Americans would represent a significant reorienting of the tax code.

www.huffpost.com

 

[Rye Catcher]

Biden will unveil a new 20% minimum tax targeting American households worth more than $100 million as part of its 2023 budget, proposing a direct tax on the richest 700 Americans for the first time

class warfare?

Biden Budget Seeks Minimum Tax On Households Worth $100m

The introduction of the minimum tax on the wealthiest Americans would represent a significant reorienting of the tax code.

www.huffpost.com

It's about time, the Middle Class in homes worth over a Million Dollars and not Mansions, but 3-4 bedrooms and 2-3 bathrooms got fucked by the Ryan/McConnell/trump axis. The H. or Rep was already giving the Democrats the Majority and Ryan was also a lame duck.

 

[Donald H]

Biden will unveil a new 20% minimum tax targeting American households worth more than $100 million as part of its 2023 budget, proposing a direct tax on the richest 700 Americans for the first time

class warfare?

Biden Budget Seeks Minimum Tax On Households Worth $100m

The introduction of the minimum tax on the wealthiest Americans would represent a significant reorienting of the tax code.

www.huffpost.com

This is completely contrary to the 'American way'!

It's definitely 'class warfar' fighting dirty against 'class warfare'!

It's a tax grab of other people's money that 'other' people have a right to keep!

Let them eat cake!

 

[kyzr]

Someone needs to pay the bills.
The GOP tax cuts were a disaster.
SS & Medicare are going bankrupt.
The Fed is raising rates, so the interest on the $30T Debt will eat into the Budget.
The US needs more revenue, I'm listening to where you suggest we find it.

 

[kyzr]

It's about time, the Middle Class in homes worth over a Million Dollars and not Mansions, but 3-4 bedrooms and 2-3 bathrooms got fucked by the Ryan/McConnell/trump axis. The H. or Rep was already giving the Democrats the Majority and Ryan was also a lame duck.

Link please so I have some clue WTF you're referring to.
FYI, in November the democrats will lose big, just sayin'.

 

[Rye Catcher]

This is completely contrary to the 'American way'!

It's definitely 'class warfar' fighting dirty against 'class warfare'!

It's a tax grab of other people's money that 'other' people have a right to keep!

Let them eat cake!

Really? Consider this:

At some point around 1789, when being told that her French subjects had no bread, Marie-Antoinette (bride of France’s King Louis XVI) supposedly sniffed, “Qu’ils mangent de la brioche”—“Let them eat cake.” With that callous remark, the queen became a hated symbol of the decadent monarchy and fueled the revolution that would cause her to (literally) lose her head several years later.

The short and factual matter is this, we are an economy based on consumers and history suggests when they are not paid a livable wage, and the elites suggest the working poor are not working hard enough or able to secure a better job for being too lazy, they become disaffected by the rulers.

Then the bourgeoisie, i.e. the middle classes become unable to put their kids through college, save for a rainy day and need to continue to work without raises and the benefits are reduced or eliminated, they lead the working poor to overthrow the rulers.

In the US they do so by the vote, when that is gone they revolt to violence. See: J-curve hypothesis | sociology and political science

 

[Rye Catcher]

Link please so I have some clue WTF you're referring to.
FYI, in November the democrats will lose big, just sayin'.

I referred to the tax reform (LOL) that limited the State Income Tax, and Real Estate Tax in homes valued well over a Million Dollars. Which doubled the Standard Deduction, which BTW, will sunset in five years. And, the top two tax brackets which were eliminated will remain so.

 

[Donald H]

Really? Consider this:

At some point around 1789, when being told that her French subjects had no bread, Marie-Antoinette (bride of France’s King Louis XVI) supposedly sniffed, “Qu’ils mangent de la brioche”—“Let them eat cake.” With that callous remark, the queen became a hated symbol of the decadent monarchy and fueled the revolution that would cause her to (literally) lose her head several years later.

The short and factual matter is this, we are an economy based on consumers and history suggests when they are not paid a livable wage, and the elites suggest the working poor are not working hard enough or able to secure a better job for being too lazy, they become disaffected by the rulers.

Then the bourgeoisie, i.e. the middle classes become unable to put their kids through college, save for a rainy day and need to continue to work without raises and the benefits are reduced or eliminated, they lead the working poor to overthrow the rulers.

In the US they do so by the vote, when that is gone they revolt to violence. See: J-curve hypothesis | sociology and political science

She didn't really say, 'let them eat cake', but the point is made.
The bourgeoisie's heads are shrunk and they still believe in the America way, even after years of hurting. But the Trump coup attempt was at least a token attempt to break the system. Even though it turned into a comedy routine with Trump's lieutenants sitting around like buffoons with their feet up on desks.

Fidel's and Comrad Che's lieutenants were busy delivering a lasting impression to the ruling class in the same heat of battle.

Maybe America's next coup attempt will be led by a leader with real balls like Fidel!
It's coming, as you seem to suggest, because nothing has changed for the peasants.

 

[basquebromance]

Biden invests 200 million dollars in community health centers in his budget. that's a cut from previous years

- TPCA Website

 

[bendog]

If Biden wasn't about to throw open the border, the dems might still have a chance in 24, but ..... hasta la vista

 

[BluesLegend]

Let's demonize and PUNISH TAX the job creators instead of cutting wasteful spending and living within our means. SARCASM!

 

[OKTexas]

Biden will unveil a new 20% minimum tax targeting American households worth more than $100 million as part of its 2023 budget, proposing a direct tax on the richest 700 Americans for the first time

class warfare?

Biden Budget Seeks Minimum Tax On Households Worth $100m

The introduction of the minimum tax on the wealthiest Americans would represent a significant reorienting of the tax code.

www.huffpost.com

Yeah, it's also know as a bill of attainder and unconstitutional. It also violates the 14th Amendments equal protection clause.

.

 

[Rye Catcher]

This is completely contrary to the 'American way'!

It's definitely 'class warfar' fighting dirty against 'class warfare'!

It's a tax grab of other people's money that 'other' people have a right to keep!

Let them eat cake!

History suggests that greed and poverty create unrest and revolutions!

Statement: "It's a tax grab of other people's money that 'other' people have a right to keep!"

Response: The top "earners' money is made by the labor of other people. Look at the Gilded Age, and see that Greed is not only amoral it is the bane to democracy.

 

[Resnic]

It's all just talk meant to get support from the middle and lower class by making it sound like "yeah I'm gonna stick it to the man".

At the end of the day it won't matter the super rich, they will find a way out because they can't afford an army of tax lawyers. Every tier of people who have money can afford to do things the tiers below them can't do. Even me as a very middle class person I can afford to buy advantages that lower tiers can't afford to buy. Its just how things work.

And if the ultra rich do get taxed more than they already are they will pull up stakes and leave if the financial burden costs them more than it's worth to stay.

Besides I don't think it's fair to tax someone more just for having more, that's not right. Then again I'm a realist and I don't blame the rich for not wanting to pay taxes, if I could afford to pay less I would in a heartbeat. No one wants to pay taxes.

 

[Harpy Eagle]

Biden will unveil a new 20% minimum tax targeting American households worth more than $100 million as part of its 2023 budget, proposing a direct tax on the richest 700 Americans for the first time

class warfare?

Biden Budget Seeks Minimum Tax On Households Worth $100m

The introduction of the minimum tax on the wealthiest Americans would represent a significant reorienting of the tax code.

www.huffpost.com

Wen you are 30 trillion dollars in debt and both parties totally refuse to cut spending, this is the only real answer. Though I wish they would do it on everyone so we can feel the actual pain of all this spending.

 

[Harpy Eagle]

Let's demonize and PUNISH TAX the job creators instead of cutting wasteful spending and living within our means. SARCASM!

who was the last person you voted for POTUS that submitted a budget smaller than the year before?

Who was the last person you voted that cut spending?

 

[bendog]

Yeah, it's also know as a bill of attainder and unconstitutional. It also violates the 14th Amendments equal protection clause.

.

a no. Progressive taxation and surcharges are legal.

 

[Donald H]

History suggests that greed and poverty create unrest and revolutions!

Statement: "It's a tax grab of other people's money that 'other' people have a right to keep!"

Response: The top "earners' money is made by the labor of other people. Look at the Gilded Age, and see that Greed is not only amoral it is the bane to democracy.

Thank you for being clear sighted on the issue.

Look at what 19th. century England did to their people.

 

[bendog]

Thank you for being clear sighted on the issue.

Look at what 19th. century England did to their people.

 

[DarthTrader]

Biden will unveil a new 20% minimum tax targeting American households worth more than $100 million as part of its 2023 budget, proposing a direct tax on the richest 700 Americans for the first time

class warfare?

Biden Budget Seeks Minimum Tax On Households Worth $100m

The introduction of the minimum tax on the wealthiest Americans would represent a significant reorienting of the tax code.

www.huffpost.com

Someone should tell this ldiot that the Constitution bans direct taxes.