TheCurl84 said:
He has formally proposed this.
If he is re-elected and if the Dems win both chambers of Congress, this will happen IMO.
Would you expect there to be any grandfathering policy as part of this?
MouthBQ98 said:
Goodbye foreign investment. Goodbye international corporate HQ. I don't know why the left is so obsessed with punishing the invetors that take risks to try to create and grow business.
Quote:
Biden's FY25 budget proposal would nearly double that capital gains tax rate to 39.6%. That proposed capital gains rate increase would apply to investors who make at least one million dollars a year.
True. But with how the GOPe likes to spend money we at least know the politicians on the right also like to steal from others too...Hubert J. Farnsworth said:MouthBQ98 said:
Goodbye foreign investment. Goodbye international corporate HQ. I don't know why the left is so obsessed with punishing the invetors that take risks to try to create and grow business.
Because people on the left are parasites that know nothing but stealing from others.
Ag CPA said:
Congress would never pass this, in large part due to self interests as noted above.
Aggie95 said:
ahh, the old double taxation. Tax my money....I buy an investment....tax me again when I sell it. Here's an idea dems....**** off!
Why not? They can just exempt themselves like they do with everything else.Ag CPA said:
Congress would never pass this, in large part due to self interests as noted above.
Capital gain taxes are even more sinister when you realize they are not indexed for inflation. An asset can appreciate in value over time simply due to inflation. Why should you pay taxes on inflation?Aggie95 said:
ahh, the old double taxation. Tax my money....I buy an investment....tax me again when I sell it.
See: Care, Obamaaggiehawg said:Why not? They can just exempt themselves like they do with everything else.Ag CPA said:
Congress would never pass this, in large part due to self interests as noted above.
Tea Party said:True. But with how the GOPe likes to spend money we at least know the politicians on the right also like to steal from others too...Hubert J. Farnsworth said:MouthBQ98 said:
Goodbye foreign investment. Goodbye international corporate HQ. I don't know why the left is so obsessed with punishing the invetors that take risks to try to create and grow business.
Because people on the left are parasites that know nothing but stealing from others.
They will say they get an exception.Ag CPA said:
Congress would never pass this, in large part due to self interests as noted above.
Most of Trumps Tax Cuts expire at the end of this year unless something is done. So, Dems/Libs already have that tax hike already baked in. These other increases will probably be on top of all the ones coming.JWinTX said:
Everyone needs to prepare for this all coming. And raising of income taxes on any household making over $250k. Quite honestly, the Medicare taxes and SS taxes will also get raised substantially. As in no more celling for when SS taxes aren't paid.
But when these are put into law, the tweets will be very nice as they blame Trump and the GOP for having to do this.
Aggie95 said:
ahh, the old double taxation. Tax my money....I buy an investment....tax me again when I sell it. Here's an idea dems....**** off!
Ag_B_10 said:
Where are the brandon supporters to support this?
Agree to disagree. If i buy something with post tax dollars, I shouldn't be taxed (ever again) on that item..whether I sell it or not. Like it was said above, some of that is pure inflation..I shouldn't be penalized for inflation.rgag12 said:Aggie95 said:
ahh, the old double taxation. Tax my money....I buy an investment....tax me again when I sell it. Here's an idea dems....**** off!
Capital gains tax only taxes you on the amount over your basis (i.e. the gain) it's not a double tax.
The problem here is that capital gains taxes are soon going to be taxed at higher rates than most anyone living can remember. This will have consequences that nobody alive can predict apart from the initial change in investment strategy for the affluent.
Ag CPA said:
Congress would never pass this, in large part due to self interests as noted above.
Ag CPA said:
Congress would never pass this, in large part due to self interests as noted above.
I have no doubt there would be caveats and carve outs for elected officials and their families. Wouldn't be the first time something like that has happened.RedHand said:TheCurl84 said:
He has formally proposed this.
If he is re-elected and if the Dems win both chambers of Congress, this will happen IMO.
Would you expect there to be any grandfathering policy as part of this?
Congress would be voting against their own interests. I don't think this would pass as easily as you think.
