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Nobody will change anything.
I, nor anybody else, knows what "an effective tax rate of $400k/yr" is or meansif you have an effective tax rate of $400k/yr
$400k/yr you are not “rich” after paying taxes.
I didnt, dumbass. And like I said before, the 39.6% rate STARTS at any income AFTER $400k. The entire $400k isnt charged 39.6%. You know that, idiot.How on earth can you call paying 39.6%(proposed new rate) of your money in taxes “welfare” for the rich?
Effective tax rate is what matters, dummy. You know, the rate you ACTUALLY pay?Secondly, that rate is a higher rate than anyone else so they are certainly paying “their fair share”,
I personally have been expecting this change and have my "playtime" portfolio already adjusted for this tax increase and coming stagflation and inflation and probable recession.
Congress agrees with me and has followed my investing strategies because they have been buying the exact stocks I've been holding. (They do have to declare and their veil of investments is too thin)
You have no idea what you are talking about. Funny, my financial advisor has called several times already since Biden took office. He wants to make appropriate moves to counteract the " financial incompetency" of this administration. His words exactly. This is why I use the guy. I run as fast as I can if I walk into any financial advisor's office and they have MSNBC or CNN on the TV. That is a sure sign of ignorance.
You are wasting your time trying to explain investing to these people. They likely have no more than $1000 to invest and don't need a strategy.
I know....they have $50 in a Robinhood account and made $10 playing a meme stock so they now feel completely competent to discuss economics. (They slept through that class in college)You are wasting your time trying to explain investing to these people. They likely have no more than $1000 to invest and don't need a strategy.
He knows what buttons to push with youYou have no idea what you are talking about. Funny, my financial advisor has called several times already since Biden took office. He wants to make appropriate moves to counteract the " financial incompetency" of this administration. His words exactly. This is why I use the guy. I run as fast as I can if I walk into any financial advisor's office and they have MSNBC or CNN on the TV. That is a sure sign of ignorance.
I, nor anybody else, knows what "an effective tax rate of $400k/yr" is or means
Only 1.8% of US taxpayers make $400k or above. It is 6 times the median income. Even if one lives in a large city, $400k a year allows you to afford a $2 million home. Biden defines $400,000 a year as 'wealthy': Here’s what that buys in a big city
So you're completely full of shit.
I didnt, dumbass. And like I said before, the 39.6% rate STARTS at any income AFTER $400k. The entire $400k isnt charged 39.6%. You know that, idiot.
Effective tax rate is what matters, dummy. You know, the rate you ACTUALLY pay?
This should have been done 40 years ago.
- President Joe Biden is expected to raise long-term capital-gains tax for the wealthiest Americans to 43.4%, including a surtax. That would be higher than the top federal tax rate on wage income. How the Biden capital gains tax proposal would hit the wealthy
"Unintended Consequences"...
How the Biden capital gains tax proposal would hit the wealthy
President Joe Biden is expected to double the top long-term capital gains rate to 43.4%. But investors shouldn't necessarily rush for the exits.www.cnbc.com
1) Analyses show that every 10% gain in the capital gains tax rate leads to a 7% change in capital gains realizations. That suggests Biden’s rate increase — which represents a 66% effective increase in the rate, could lead to a 45% to 50% increase in capital gains sales, which could create a large downward force in the market.
So this would mean 401K fund managers would be selling easily 50% reduction in values.
So what are 401ks value today:
About one-third of U.S. adults (35%) said they personally owned stocks, bonds or mutual funds outside of retirement accounts in a Pew Research Center survey from September 2019.
With 39% of the $6 trillion total 401K assets invested in the market..or about $2.4 Trillion will be at risk of dropping at least 50% in value.
Now that is just the affect on stock market and then on 401ks and then on the 60 million Americans with 401ks.
Now what about jobs in America?
At one point under Trump
U.S. companies have repatriated $1 trillion since tax overhaul
U.S. companies have repatriated $1 trillion since tax overhaul
That's still short of the $4 trillion in overseas profits that President Trump would return as a result of the 2017 tax law.www.latimes.com
Corporations have brought back more than $1 trillion of overseas profits to the U.S. since Congress overhauled the international tax system and prodded companies to repatriate offshore funds, a report showed Thursday. (snip)
Investment banks and think tanks have estimated that American corporations held $1.5 trillion to $2.5 trillion in offshore cash at the time the law was enacted. Before the overhaul, companies were incentivized to keep profits overseas because they owed a 35% tax when bringing it back and could defer payment by keeping funds offshore.
The law set a one-time 15.5% tax rate on cash and 8% on non-cash or illiquid assets.
Compare and contrast the way that Presidents Trump and Obama chose to stimulate the American economy, each of them generating roughly a trillion dollars in “stimulus.”
In summary folks... all the economic benefits of the "repatriation" and the capital gains tax cuts will result in nearly $10 trillion in economic losses to 60 million Americans at the minimum!
One trillion dollars have flowed into the American economy as Trump’s tax law changes allowed companies to repatriate profits without tax penalty
President Trump’s tax reform has delivered more than a trillion dollars of stimulus to the American economy through corporations repatriating profits held overseas in order to avoid penalties that the tax law had imposed on bringing home the fu...www.americanthinker.com
He knows what buttons to push with you
Yes, in your fucked up mind.In my mind, a "rich" person doesn't need to borrow money to buy a home.
He is playing youActually, he knows that I know more than many of his clients. I doubt he replaces a "Coexist" window sticker with a "Proud to be a Republican" window sticker on his SUV every time I visit his office.
Yes, in your fucked up mind.
He is playing you
Fair enough. That doesnt mean your definition is correct. Yes, of course someone making $400k have a different view of what rich is. I'm guessing the people you mainly hang out with are in or around your same income level. So you probably just think making $400k is normal, and you look at richer people at your country club and think, "damn, I'm poor". That doesnt make you poor lol.We have different definitions of rich.
Fair enough. That doesnt mean your definition is correct. Yes, of course someone making $400k have a different view of what rich is. I'm guessing the people you mainly hang out with are in or around your same income level. So you probably just think making $400k is normal, and you look at richer people at your country club and think, "damn, I'm poor". That doesnt make you poor lol.
By any other measurement level outside your mind, someone making $400k a year is rich. And you'll never be able to convince me otherwise.
Did he tell you to invest in the record Biden Stock Market?We have had numerous discussions which would say otherwise. Keep in mind I don't live in an area where indoctrination has taken hold. We still have some free thinkers here.
Did he tell you to invest in the record Biden Stock Market?
ya think? LOLHe is playing you
