The Progressives want a Billionaire tax, but it wont affect normal people. Anyone remember the AMT, Alternative Minimum Tax.

[Mikeoxenormous]

What Is an Alternative Minimum Tax (AMT)?

AMT is designed to prevent taxpayers from escaping their fair share of tax liability through tax breaks. However, the structure was not indexed to inflation or tax cuts. This can cause bracket creep, a condition in which upper-middle-income taxpayers are subject to this tax instead of just the wealthy taxpayers for whom AMT was invented. In 2015, however, Congress passed a law indexing the AMT exemption amount to inflation.

Back in the 1990s this was the fix for those evil millionaires out there not paying their fair share, so the AMT was enacted, and the middle class didnt think it was going to affect them. With inflation and the QE forever plan, the middle class that could be 40 to 60 thousand dollars and live comfortably, found out that now they were making over the AMT minimum so had to in effect pay that additional tax meant for the uber rich. This billionaire tax that will only affect them, if inflation causes the dollar to be basically worthless but now dealt in the millions, you can bet the middle class will be right in there paying that tax.

 

[Oddball]

Biden is lying....The equity of scores of millions of middle class homeowners will be taxed as these "unrealized capital gains".

This is a major attempted mugging of the middle class.

 

[Kilroy2]

Well if he can reverse the Trump tax break for the wealthy then at least it should be a break even type deal.

 

[excalibur]

Progressives (American Marxists) sold the income tax to the country in the 16th Amendment as only on the 1%.

By 1942 far more people were paying the income tax, and then they passed withholding on the working class. Withholding is still with us over 75 years later.

 

[occupied]

Do you think kissing rich man ass will get you into their club? There is nothing to be gained by taking their side on any issue. They do not care if you live or die or your kids starve. We're all just serfs on their property if we can't touch them with law or taxation.

 

[excalibur]

Biden is lying....The equity of scores of millions of middle class homeowners will be taxed as these "unrealized capital gains".

This is a major attempted mugging of the middle class.

View attachment 557608

So will peoples IRA's and 401k's.

Just as they did with the income tax when they said it was only on the 1%. Duh!

 

[Oddball]

Do you think kissing rich man ass will get you into their club? There is nothing to be gained by taking their side on any issue. They do not care if you live or die or your kids starve. We're all just serfs on their property if we can't touch them with law or taxation.

Do you even have the first fucking clue as to what "unrealized capital gains" are?

 

[talksalot]

Do you think kissing rich man ass will get you into their club? There is nothing to be gained by taking their side on any issue. They do not care if you live or die or your kids starve. We're all just serfs on their property if we can't touch them with law or taxation.

We're already well on the way to being government serfs. Socialists/Communists just don't see it.

 

[justoffal]

What Is an Alternative Minimum Tax (AMT)? Back in the 1990s this was the fix for those evil millionaires out there not paying their fair share, so the AMT was enacted, and the middle class didnt think it was going to affect them. With inflation and the QE forever plan, the middle class that could be 40 to 60 thousand dollars and live comfortably, found out that now they were making over the AMT minimum so had to in effect pay that additional tax meant for the uber rich. This billionaire tax that will only affect them, if inflation causes the dollar to be basically worthless but now dealt in the millions, you can bet the middle class will be right in there paying that tax.

View attachment 557602

The Politicians of this nation are too stupid to realize they simply cannot tax the Billionaires....they only think they can. They are also too stupid to realize that 95% of all tax revenue starts with the corporations and flows through payroll taxation. If they were any more stupid they wouldn't have heart beats.. Want more revenue....then get out of the way and allow the corporations to create more jobs....that simple.


JO

 

[justoffal]

Do you even have the first fucking clue as to what "unrealized capital gains" are?

He thinks Elon Musk has his money.

 

[talksalot]

Communists welcome being serfs for the government, just as long as rich people are made into serfs too.
They're driven by envy.