Blues Man
Diamond Member
- Aug 28, 2016
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So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.
Here's how the little guy gets crushed again.
Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.
Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the fucking government
Here's how the little guy gets crushed again.
Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.
Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the fucking government