Kamala supports 44% tax on capital gains

[jotathought]

Don't all politicians blow smoke up your ass? They can say anything they want and most of what they say has to get through congress. So how much gets through?

That's not the point .. it's a policy position of Kamala (and Biden) that would be devasting to the investment market. If Democrats were to take the majority in the House and Senate, it would move forward.

 

[jotathought]

Tax code has to go through congress.

If democrats were to hold the Congressional and Executive branch of government .. that wouldn't be a problem.

 

[Lisa558]

Closing the border does not require Congress. Trump closed it by EO, Biden opened it by EO and Trump will close it by EO. Mass deportation does not require Congress. Opening up Federal lands for drilling and fracking does not require Congress. Tariffs do not require Congress.

And not only did Biden open it by EO, he fought the SCOTUS to do so. Biden was DETERMINED to get as many low-class, semi-literate, unskilled foreigners in here as possible.

 

[Billo_Really]

What about everyone else who isn't paying "their fair share?"

Who are you talking about?

 

[jotathought]

Who are you talking about?

All of the income earners that pay ZERO income tax .. millions.

 

[Billo_Really]

All of the income earners that pay ZERO income tax .. millions.

You think people who make less than $20,000 a year should pay taxes? **** you!

**** you you ******* asshole! Let me tell you something dickwad, if you own 70% of the assets in this country, then you should pay 70% of the taxes!

 

[jotathought]

You think people who make less than $20,000 a year should pay taxes? **** you!

**** you you ******* asshole! Let me tell you something dickwad, if you own 70% of the assets in this country, then you should pay 70% of the taxes!

Yes .. their fair share, just like you and democrats continue to preach.

 

[Crepitus]

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

There was no proposed 44% tax.

It was 25% in income over 100 million dollars including "unrealized capital gains".

 

[jotathought]

There was no proposed 44% tax.

It was 25% in income over 100 million dollars including "unrealized capital gains".

The proposed tax hike on capital gains would be raised to the new, higher marginal income tax rate at 39.6% plus the Net Investment Income Tax increase for those with incomes greater than $1M.

 

[Crepitus]

The proposed tax hike on capital gains would be raised to the new, higher marginal income tax rate at 39.6% plus the Net Investment Income Tax increase for those with incomes greater than $1M.

Feel free to link that.

 

[jotathought]

Feel free to link that.

It's in the budget proposal for fiscal year 2025

 

[Crepitus]

It's in the budget proposal for fiscal year 2025

Bad link. Try again.

 

[jotathought]

Bad link. Try again.

https://www.whitehouse.gov/wp-content/uploads/2024/03/budget_fy2025.pdf

 

[Crepitus]

https://www.whitehouse.gov/wp-content/uploads/2024/03/budget_fy2025.pdf

That's 188 pages.

try being more specific.

 

[jotathought]

That's 188 pages.

try being more specific.

You're not able to do a search on "Capital Gains" and find it yourself?

Repeals Tax Cuts for the Wealthy and Reforms Capital Gains Tax to Ensure the Wealthy Pay Their Fair Share. The 2017 tax law lowered rates for the wealthiest Americans, delivering massive tax cuts to the top one percent. The Budget repeals those cuts, restoring the top tax rate of 39.6 percent for single filers making more than $400,000 a year and married couples making more than $450,000 per year. The Budget also proposes taxing capital gains at the same rate as wage income for those with more than $1 million in income and finally closes the carried interest loophole that allows some wealthy investment fund managers to pay tax at lower rates than their secretaries.

 

[Hollie]

Gains should be taxed at 25%.

And the rich need to be forced to pay 25% as well. No loopholes. No off-shoring of profits. We need to force these fuckers to pay their fair share.

Why don’t stop being stupid and lean some facts.

Summary of the Latest Federal Income Tax Data, 2024 Update

The Tax Cuts and Jobs Act (TCJA) made many significant, but temporary, changes to the individual income tax code to lower tax rates, widen brackets, increase the standard deduction and child tax credit, and more.

taxfoundation.org

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.

“We need to bring dignity back to work, and we have done the exact opposite for four decades”. Now that’s pretty darn funny. “Bring dignity back to work” by having taxpayers pay the bills for healthcare, schooling and welfare for illegals. Great plan!

 

[Billo_Really]

Yes .. their fair share, just like you and democrats continue to preach.

We are paying ours, the rich are not paying theirs.

 

[Billo_Really]

Why don’t stop being stupid and lean some facts.

Summary of the Latest Federal Income Tax Data, 2024 Update

The Tax Cuts and Jobs Act (TCJA) made many significant, but temporary, changes to the individual income tax code to lower tax rates, widen brackets, increase the standard deduction and child tax credit, and more.

taxfoundation.org

“We need to bring dignity back to work, and we have done the exact opposite for four decades”. Now that’s pretty darn funny. “Bring dignity back to work” by having taxpayers pay the bills for healthcare, schooling and welfare for illegals. Great plan!

Oh that's right, I forgot you're a racist?

 

[Hollie]

Oh that's right, I forgot you're a racist?

Oh, dear. You invoked the racist™ slogan.

 

[Hollie]

We are paying ours, the rich are not paying theirs.

Your pointless babbling is a laughable joke.