Kamala supports 44% tax on capital gains

[rightwinger]

Not necessarily true. Innovation is spurred from boatloads of cash when individual investors and big mutual fund managers see that a company has an innovative product that will make money for the company and thereby reward those who invested with an increasing stock price. It's really the purest form of capitalism.

That innovation is coming from those workers
Tax them at the same rate

 

[Hollie]

Lets ask Abe Lincoln.


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You're just jealous because your labor at the drive- thru window was worth less than investing in fast growing American companies.

 

[Hollie]

That innovation is coming from those workers
Tax them at the same rate

Dims don't understand that taxing and then spending more is a viscious circle.

 

[Mac-7]

which means the mediocre, uneducated people get to move out of dumpy apartments and into an “OK” apartment,

It wont stay OK for long

Give losers stuff they didnt earn and they wont take care of it

 

[Hollie]

It wont stay OK for long

Give losers stuff they didnt earn and they wont take care of it

Yes
Aside from artificially inflating home prices with lots of " free money" for people who are likely not real good with financial responsibility. What lenders are going to dump money on people who otherwise are high risk?

 

[Mac-7]

Yes
Aside from artificially inflating home prices with lots of " free money" for people who are likely not real good with financial responsibility. What lenders are going to dump money on people who otherwise are high risk?

We’ve seen this movie before

Bleeding hears under clinton and bush caused the Great Recession

 

[Hollie]

We’ve seen this movie before

Bleeding hears under clinton and bush caused the Great Recession

I suppose Dims believe the government will have to back mortgages for unknown numbers of high risk borrowers. That movie didn’t play out well last time. High risk borrowers chasing adjustable rate mortgages after being gifted with loads of taxpayer dollars.

 

[Independent thinker]

Is this not the most blatant way to destroy the portfolios of successful Americans in order to hand more money over to the non-productive in society - and an obvious march toward socialism?

Kamala won’t be happy until mediocre high school grads enjoy the same lifestyle as above-average professionals with grad degrees or successful business owners - which means the mediocre, uneducated people get to move out of dumpy apartments and into an “OK” apartment, and the educated successful people get forced out of their nice SFHs and upscale townhouses into an “OK” apartment. Equity for one and all!

That is what socialism is: a shared lower lifestyle.

Kamala Harris Supports President Biden's 44.6% Capital Gains Tax Proposal

Vice President Kamala Harris has declared her support for President Joe Biden's 44.6% capital gains tax proposal.

watcher.guru

She is a commie socialist, through and through.

 

[Winston]

Well, there is some gray area there.

I take home $1800 a week. I use $400 of that to buy a stock. That $400 is already taxed. So I can see an argument that when I sell some or all of that initial $400 investment for a profit, I shouldn’t be taxed again.

What is happening though is that the major shareholders often reinvest the dividends to buy more stock. That isn’t taxed. So if I bought 80 shares with that $400, after a few years, I have 100 shares or whatever. I sell 100 shares--20 of whichco were bought with money that was never taxed.

And, as I understand it, the portfolio becomes so large that they simply borrow money against it (money to live on) and sell shares to pay off the loan. So you pay taxes on what you sold to pay off a loan that isn’t taxed either.

But it gets worse. You didn't mention harvesting losses, say your $400 became $300 and you took that loss. But you write that off against some of your gains, so that is $100 that you bought stock with that you didn't pay taxes on. Plus, you can carry losses over from year to year, for like five damn years. I mean you can have like a 40 million dollar a year cash flow thing going on and not pay a dime in flipping taxes.

Then, well it gets just plain sick. So, you do that $400 a week thing, for like 20 years Just back of the envelope, but looking at definitely eight figures with a six percent yearly return, admittedly a little aggressive. Do three percent and it runs a little shy of two million. But then, you die. You never paid taxes on those capital gains. Your heirs, they get the step-up, they don't have to pay taxes on those capital gains. Are you going to pass on millions of dollars worth of unrealized capital gains? Other than the family home, few people are in that position to so who does this policy benefit? Why, for crying out loud?

 

[Winston]

Lets ask Abe Lincoln.


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RHINO.

 

[Winston]

You're just jealous because your labor at the drive- thru window was worth less than investing in fast growing American companies.

How is that? I mean you buy some stock. Have you created anything? Have you produced anything? Unless it is an IPO, the company is not getting jack shit. You are just trying to get you a piece of pie and you don't want to do any baking.

The dude at the drive-thru, he is actively producing things. He is actually, making more pie, or at least contributing to the process of making more pie.

Mr. Carlisle said in 1878 that this was a struggle between the idle holders of idle capital and the struggling masses who produce the wealth and pay the taxes of the country; and my friends, it is simply a question that we shall decide upon which side shall the Democratic Party fight. Upon the side of the idle holders of idle capital, or upon the side of the struggling masses? That is the question that the party must answer first; and then it must be answered by each individual hereafter. The sympathies of the Democratic Party, as described by the platform, are on the side of the struggling masses, who have ever been the foundation of the Democratic Party.

There are two ideas of government. There are those who believe that if you just legislate to make the well-to-do prosperous, that their prosperity will leak through on those below. The Democratic idea has been that if you legislate to make the masses prosperous their prosperity will find its way up and through every class that rests upon it.

Bryan's "Cross of Gold" Speech: Mesmerizing the Masses

Greatest political speech in American History. I mean you got to go to Webster/Haynes in the senate to get to anything close. The Democrat party needs to get back to it's roots. It is really kind of funny. Those years, the years just prior to and just after, the turn of the 20th century, are absolutely pivotal in American exceptionalism. High School history books just blaze through that period, almost ignoring it.

That is where Harris should focus. She needs to read Bryan's speech, and she needs to bring it to the modern day. The White House budget proposal, and the Democratic platform itself, provides some strong proposals that have real merit. Unlike the smoke and mirrors we get from the Republican side, outside of Project 2025, which they hide from.

MAGA movement is not about making America great again, it is about continuing the course of the last four decades. Handel, from Harvard, was on NPR yesterday, he was proposing the same thing, without the whole history lesson. We need to bring dignity back to work, and we have done the exact opposite for four decades. Leveling the playing field when it comes to taxes sends a strong message, unearned income taxed the same as earned income, across all categories, and no cap on Social Security taxes. End of discussion.

 

[Hollie]

But it gets worse. You didn't mention harvesting losses, say your $400 became $300 and you took that loss. But you write that off against some of your gains, so that is $100 that you bought stock with that you didn't pay taxes on. Plus, you can carry losses over from year to year, for like five damn years. I mean you can have like a 40 million dollar a year cash flow thing going on and not pay a dime in flipping taxes.

Then, well it gets just plain sick. So, you do that $400 a week thing, for like 20 years Just back of the envelope, but looking at definitely eight figures with a six percent yearly return, admittedly a little aggressive. Do three percent and it runs a little shy of two million. But then, you die. You never paid taxes on those capital gains. Your heirs, they get the step-up, they don't have to pay taxes on those capital gains. Are you going to pass on millions of dollars worth of unrealized capital gains? Other than the family home, few people are in that position to so who does this policy benefit? Why, for crying out loud?

You tripped over your own attempt at analogy. That $100 loss you describe was taxed as earned income before it was invested.

 

[candycorn]

But it gets worse. You didn't mention harvesting losses, say your $400 became $300 and you took that loss. But you write that off against some of your gains, so that is $100 that you bought stock with that you didn't pay taxes on. Plus, you can carry losses over from year to year, for like five damn years. I mean you can have like a 40 million dollar a year cash flow thing going on and not pay a dime in flipping taxes.

Then, well it gets just plain sick. So, you do that $400 a week thing, for like 20 years Just back of the envelope, but looking at definitely eight figures with a six percent yearly return, admittedly a little aggressive. Do three percent and it runs a little shy of two million. But then, you die. You never paid taxes on those capital gains. Your heirs, they get the step-up, they don't have to pay taxes on those capital gains. Are you going to pass on millions of dollars worth of unrealized capital gains? Other than the family home, few people are in that position to so who does this policy benefit? Why, for crying out loud?

You’re 100% correct.

I was just pointing out why there is some actual reasoning behind not wanting to tax capital gains....

 

[Care4all]

We’ve seen this movie before

Bleeding hears under clinton and bush caused the Great Recession

That's just plain bull crap!

Around 10% of the home loans that were defaulted on 2006 onward, came from that Red Line sector of poorer people that banks had to loan to.

The other 90% of the defaults came from the banking and bankers high risk hidden mortgaged backed securities, banking and loan gimmicks on all the other mortgage seekers who ended up defaulting.

 

[Lisa558]

No
Actually we want the employees of that small business to pay taxes at the same rate as the owner pays on his profits

Huh? The owner is paying close to 50%, all in. Why do you want to penalize employees who need to build a retirement fund and don’t have a government pension?

This proposal will just make more middle class people dependent on government handouts in old age, which of course what you Dems want.

 

[Lisa558]

No
Actually we want the employees of that small business to pay taxes at the same rate as the owner pays on his profits

And P.S. You understand nothing about business, or having to build one’s own retirement. You’re just an old former government worker, now sucking at the taxpayers’ teat.

 

[Mac-7]

That's just plain bull crap!

Around 10% of the home loans that were defaulted on 2006 onward, came from that Red Line sector of poorer people that banks had to loan to.

The other 90% of the defaults came from the banking and bankers high risk hidden mortgaged backed securities, banking and loan gimmicks on all the other mortgage seekers who ended up defaulting.

10% is more enough to start a panic

 

[Lisa558]

That innovation is coming from those workers
Tax them at the same rate

The innovation is coming from the business owner, who took the risk and had the ingenuity to launch his own company.

You are just another lib, with resentment toward successful people.

 

[Billo_Really]

Is this not the most blatant way to destroy the portfolios of successful Americans in order to hand more money over to the non-productive in society - and an obvious march toward socialism?

Kamala won’t be happy until mediocre high school grads enjoy the same lifestyle as above-average professionals with grad degrees or successful business owners - which means the mediocre, uneducated people get to move out of dumpy apartments and into an “OK” apartment, and the educated successful people get forced out of their nice SFHs and upscale townhouses into an “OK” apartment. Equity for one and all!

That is what socialism is: a shared lower lifestyle.

Kamala Harris Supports President Biden's 44.6% Capital Gains Tax Proposal

Vice President Kamala Harris has declared her support for President Joe Biden's 44.6% capital gains tax proposal.

watcher.guru

Lisa, Kamala does not support a 44% tax on capital gains! That is just bullshit! It's more like 25%.

Your link is a ******* lie, twisted sister!

 

[Lisa558]

Lisa, Kamala does not support a 44% tax on capital gains! That is just bullshit! It's more like 25%.

Your link is a ******* lie, twisted sister!

Did you read the link?