Thomas Sowell is a gem.as we see the divide agenda of pitting those wealthy not paying enough taxes being promoted, even though they pay most, against those that contribute so very little and get back so little as a mathematical consequence I'm reminded
You quite literally said that lol. It’s right there in your post. A direct quote.
It gets a bit funny when a poster implies a certain thought as ridiculous or whatever knee jerk reaction response is made not knowing that Thomas may have already addressed this many times with supported data over the decades, but that he or she has never been exposed. Thomas Sowell is brilliant...even if his years of study fly in opposition to current media at times. Unless things change I have no doubt you will not find his comments and such on the web...even if not censored intentionally. The mere algorithm alone based upon popular searches to an audience lacking exposure will do that. We are just getting into the dumber society as it will get worse if not altered soon
Oh, I thought you were talking about the unrealized capitol gains tax. Yes, when you have to give up 44.6% of your gains, you're literally giving almost half of what you earned to the government. Please tell me what is incorrect about that.
You’re not giving up anything. Neither am I, or anyone on this board. Stop presenting this as a tax that will be levied on everyone in America. There are like 10,000 people that this would apply to. .00003% of the population
Cool, I’m not arguing any of that. I’m not advocating for this policy. Just pointing out that the op was a lie. Why lie about it? It’s a pretty wild proposal that has zero chance of ever being enacted. But we have to lie to scare people I guess.
In general, I agree, but at some point America is going to have pay the fiddler for the Pandemic. Handing out $10T over 3 years.
Does the government pay back losses on any realized losses after capital gains are paid? As soon as someone sells $10MM of a certain stock to pay the capital gains, the stock is likely to lose its value, how does it work when individual X has 1 MM shares of Company Y stock. If X decides to sell 250k shares of company Y and the stock drops to $90 a share, does the federal government pay Individual X back all $25M ?
The mention of such is enough to tell people that are not aware the desires of Kamala and taxes or spending. Unfortunately, some think they will not be effected, but in all things people are affected in some ways obvious and in other ways not as obvious until later. There always is a person that likes and a person that doesn't like any policy initially and some later
Tell me you know nothing about capitol gains tax without telling me you know nothing about capitol gains tax. FFS man. You can't be this uninformed can you?
No it's not a lie. I've paid capitol gains tax about a dozen times in my life. Anyone that sells a house and made money, will pay capitol gains tax. Same with stocks. (the break point is roughly $47K, but anything over that will be taxed).
So you truly do not know who this tax proposal applies to? Boilermaker03 would
Not really true B....there will be allowances for the poor and "middle class". There always is with Demo proposals for such legislation.
I'm unsure there exists a federal tax that has never affected me...either directly or indirectly and I'm certainly not wealthy.
I'm always amazed at someone who thinks the government knows how to manage the money better than the individual does.
2 serious questions for you:
Why wouldn't I? I paid the 25% when that was the top tax rate. A lot of people pay the top tax rate when they inherit property from their parents causing a massive tax event once sold. If it was 44.5% that would be devastating.
The point is that any time there's a tax hike, the people that control prices pass those down. This is just a reality.
I guess I should not have assumed that you were not one of the 10,000 people in the US that was worth >$100 million. Good for you.
Again, you don't know wtf you're talking about. You don't have to be worth a lot to pay capitol gains. All you have to do is sell something that makes the minimum amount of profit within the taxable bracket.
Jfc. This proposal that you have posted about…it is literally a proposal for only those with more than $100 million in assets. Wtf man how are you not getting this?
The top percent, sure. But what about the rest? You're telling me that they are just going to leave the other rates alone? You also think that they are going to implement it EXACTLY as they propose?
In the history of the USA has there ever been a time in trying to eat the rich that the workers were not also affected? Chances are "we" need those with those assets more than they need us. I have a hard time believing that in a crowded corral of oxen, that my ox doesn't get gored...and by then it is too late. This is older, but still is worthy of viewing. Eat the rich
You still didn't answer the questions.
But if the fweedom fighter becomes pres, her plan is for her to control the prices - since that approach has worked so well in Venezuela, Russia and for three months in the US under Nixon before he recognized the stupidity of it and dropped it.
I’m telling you that you posted a lie. Your post was a flat out lie, and even all your buddies here who normally pump you up know it.
First of all it's only a lie if it's a known deceit. I did not know there was a caveat to that rate. However, I also know the MO of the Democrats and that they will use the opportunity to raise all of the other rates.
You're also pushing false claims as well as you seemed to suggest that I paid capitol gains tax only because I was supposedly worth $100m. There is no such caveat in the current capitol gains tax code which is why I assumed there was no such caveat in the proposed code.
Yeah and the original federal income tax was sold as only 1% for most people. You probably would have fallen for that one too.
