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? Fuck you!

Fuck you you fucking 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? Fuck you!

Fuck you you fucking 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.