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Biden considers raising capital gains tax to nearly 44%

pknopp

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Long term capital gain should be taxed at the same rate labor income is taxed.

Why?

Because income is income.

Income is not income. Investments that trigger capital gains usually have a higher risk and does not have FDIC insurance. Now if your want to prevent investments, a higher tax on capital gains is one sure way to go.
So you're saying the .1% will just put money in FDIC accounts unless they keep the long term cap gain tax break?

They'll find less riskier investments.

Which will do what to capital markets and the economy? Firms rely on capital markets as well as debt markets.

You can bet the economy will truly become a Biden economy.

Which translates to sluggish or stagnation at best. Democrats will see the Treasury take in less revenue on a gross and net basis. Then, how will they spend? What will they spend with?

Yep, hope and change doesn't buy many groceries.
they don't want you buying groceries, they want food banks handing out groceries from government punks.

If the government is going to buy a business an off ramp, why shouldn't they buy others things for others?

They didn't buy the off-ramp for the business, they bought it for you and your cardboard sign...dumbass.

I pay my share of the taxes.
Why aren’t you paying more?

As I've said many times, if the things I would like to see would cost more I'd be OK with that. I do not believe that to be the case but I'm willing to pay the debt we have created so the next generations do not have to.

Myself alone will do nothing to address either of these issues.
 

frigidweirdo

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President Joe Biden’s administration is weighing nearly doubling the capital gains tax on wealthy Americans to 43.4%, Bloomberg News reported Thursday.

The plan would raise the gains tax to 39.6% for Americans making more than $1 million a year, and that would add upon an existing 3.8% tax on that bracket that supports Obamacare, according to Bloomberg.

Biden has proposals to hike taxes on wealthy Americans in a number of his bills, including the American Jobs Plan, expected to be officially announced next week.



Guys - you just can't do that and expect to grow the economy. I don't know if the democrats could pass that through the reconciliation process, cuz there's Joe Manchin and other democrats that probably wouldn't support that, Thank God. But it tells you where the democratic party is coming from, and if they ever get to the point where senators like Joe Manchin aren't there to stop them, the Far Left will ruin this country IMHO. You just can't tax and spend your way to prosperity, it has never been done. Not to this extent anyway.
the democrats must punish success and reward the losers

Yeah, success like gambling.....
 

Nova78

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You need to kick these fuck sticks out midterm before it's too late, Democrats are pond scum.
 

jc456

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Lesh

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Middle class doesn't any property to pay capital gains taxes on?
This concerns those with an income over $400,000. Is that middle class retard?
You don’t do math huh?
I do math just fine...and I read well. This affects only those making over $400K
That’s impossible if you do math
I'd ask for an explanation but it would be jibberish
 

jc456

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Middle class doesn't any property to pay capital gains taxes on?
This concerns those with an income over $400,000. Is that middle class retard?
You don’t do math huh?
I do math just fine...and I read well. This affects only those making over $400K
That’s impossible if you do math
I'd ask for an explanation but it would be jibberish
Capital gains is capital gains. It’s not a income tax even though it is
 

schmidlap

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President Joe Biden’s administration is weighing nearly doubling the capital gains tax on wealthy Americans to 43.4%, Bloomberg News reported Thursday.

The plan would raise the gains tax to 39.6% for Americans making more than $1 million a year, and that would add upon an existing 3.8% tax on that bracket that supports Obamacare, according to Bloomberg.

Biden has proposals to hike taxes on wealthy Americans in a number of his bills, including the American Jobs Plan, expected to be officially announced next week.

The capital gains tax is now far lower than it was at times of significant economic growth in the past.

Screen Shot 2021-04-25 at 8.34.21 AM.png

The biggest changes in capital gains taxes over the last decade came with the Tax Cuts and Jobs Act of 2017, disproportionately benefiting wealthiest Americans.

With the Former Guy's failed promise of re-building the nation's crumbling infrastructure, the challenge has only gotten more urgent, and those who will handsomely profit from such an investment should again assume their fair share of the cost.

The current administration is proposing a more equitable distribution of the tax burden.


Everyone knows that Democrats want to raise taxes on the rich, but what hasn’t gotten nearly as much notice is how much they’ve cut them for most everyone else — substantially more than Republicans did in the first year of their 2017 tax overhaul.
New estimates by Congress’s official forecasters show Democrats’ tax cuts — included in their March stimulus package — will drive down tax rates on low- and middle-income people so much this year that those earning less than $75,000, on average, will owe nothing in federal income taxes.

Screen Shot 2021-04-25 at 9.05.11 AM.png
Those making between $75,000 and $100,000 will pay a scant 1.8 percent average tax rate this year, the nonpartisan Joint Committee on Taxation predicts.
That will shift the relative burden to the wealthy, at least temporarily, with those earning more than $500,000 expected to pay more than two-thirds of all income taxes this year.
It’s a flip side to Democrats’ campaign to raise taxes on the well-to-do, though one that’s sometimes overlooked. Much of the focus has been on their bid to raise taxes on wealthy individuals and corporations to help pay for big new spending initiatives.
Green Eyeshade Stuff:
Capital-gains tax rates jumped by nearly 9 percentage points in 2013 but stocks rose 30% that year, noted Mark Haefele, chief investment officer for global wealth management at UBS, in a note.
“In addition, we find no correlation between capital-gains tax rates and equity market valuations,” Haefele wrote. “Price-to-earnings multiples have been as low as 10x when the capital-gains tax rate was 20%, and as high as 18x when it was 35%. Ultimately, other factors such as the outlook for economic growth, monetary policy, and interest rates are much more powerful drivers of equity market returns and valuations.”
“Well, on the surface you’d think higher taxes wouldn’t be a good thing, but that’s actually not reality,” Detrick said, in a note. “In fact, the past two times we had an increase in the capital-gains tax stocks did really well for the next six months in 1987 and 2013.”
 
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schmidlap

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You need to kick these fuck sticks out midterm before it's too late, Democrats are pond scum.
Normally, midterms favor the Party that does not hold the Whiten House, and Trump's loosing the House, Senate, and Executive in a single term is probably not sustainable with Trump having been dumped, but the President's agenda is very popular, and he continues to put up numbers that Trump could only lie about.

 

Paulie

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President Joe Biden’s administration is weighing nearly doubling the capital gains tax on wealthy Americans to 43.4%, Bloomberg News reported Thursday.

The plan would raise the gains tax to 39.6% for Americans making more than $1 million a year, and that would add upon an existing 3.8% tax on that bracket that supports Obamacare, according to Bloomberg.

Biden has proposals to hike taxes on wealthy Americans in a number of his bills, including the American Jobs Plan, expected to be officially announced next week.



Guys - you just can't do that and expect to grow the economy. I don't know if the democrats could pass that through the reconciliation process, cuz there's Joe Manchin and other democrats that probably wouldn't support that, Thank God. But it tells you where the democratic party is coming from, and if they ever get to the point where senators like Joe Manchin aren't there to stop them, the Far Left will ruin this country IMHO. You just can't tax and spend your way to prosperity, it has never been done. Not to this extent anyway.

Xi is ordering Biden to destroy the USA
Xi is just a puppet himself. He’s a nobody among the global cabal
 

Flash

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Tax the job producers, what could possibly go wrong?

The absolute last thing we need in this country now is more fucking taxation.

We need to incentivize investment, not punish it.

Democrats are as ignorant of Economics as they are of History, Biology, Climate Science, Ethics and the Constitution.

Anybody that voted for a Democrat is a friggin moron.
 
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jc456

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Tax the job producers, what could possibly go wrong?

The absolute last thing we need in this country now is more fucking taxation.

We need to incentivize investment, not punish it.

Democrats are as ignorant of Economics as they are of History, Biology, Climate Science, Ethics and the Constitution.

Anybody that voted for a Democrat is a friggin moron.
That’s what demodudes do
 

JWBooth

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President Joe Biden’s administration is weighing nearly doubling the capital gains tax on wealthy Americans to 43.4%, Bloomberg News reported Thursday.

The plan would raise the gains tax to 39.6% for Americans making more than $1 million a year, and that would add upon an existing 3.8% tax on that bracket that supports Obamacare, according to Bloomberg.

Biden has proposals to hike taxes on wealthy Americans in a number of his bills, including the American Jobs Plan, expected to be officially announced next week.



Guys - you just can't do that and expect to grow the economy. I don't know if the democrats could pass that through the reconciliation process, cuz there's Joe Manchin and other democrats that probably wouldn't support that, Thank God. But it tells you where the democratic party is coming from, and if they ever get to the point where senators like Joe Manchin aren't there to stop them, the Far Left will ruin this country IMHO. You just can't tax and spend your way to prosperity, it has never been done. Not to this extent anyway.
Chuckling in collapsitarian, hell yes, go for it
 

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