US US Politics General - Discussion of President Biden and other politicians

 

[Sweet and Savoury]

Am I understanding this new wealth tax correctly?

He wants to tax total net worth rather then income for the top tax brackets?

As in if you have stock worth 500k or more your paying 20% of that 500k wether it's realized gains or not?

Tell me I'm reading it wrong, please.

 

[Blacklight]

Hey, he'd make a better President than these chickenshit bureaucrats have been.
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He'd get my vote.

The extreme social Darwinist who wanted to strangle the hold the weak and stupid have on America, and the man who values strength of will and character the most?

Fuck yes I'd vote for him only if he turns Pelosi into a donut after he wins.

 

[God of Nothing]

Well, it's impossible to tax the very wealthy. But what you can do is tax the upper middle class whom poorer people might consider rich, but aren't in the political class like the very rich and can't just up and leave.

But wherever he sets the tax rate, the biggest issue is that there's a trillion dollar deficit in this budget. It's the difference which counts. And it brings to my mind a line from Dickens:

“Annual income twenty pounds, annual expenditure nineteen nineteen and six , result happiness.​

Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery”​

b-but we need those billions to line our pockets!

 

[The Man With No Name]

It's not enough for Trump to win. People need to push and push hard to get Progressive/Soros/Clinton/RINO faction people out of every elected office there is - minor officials, judges, sheriffs, everything. The machinery of state must be reclaimed. Not just the captain's chair.

Generals literally lied to the president because they didn't like his policy, criminals are let off because of their political connections, investigations dropped, Intelligence Agencies are controlled only in the barest sense.

Vote, vote, vote - everywhere. Most small elections are decided by a handful of people.

I know not everybody wants to hear things from a libertarian's perspective, but maybe if we don't want the political machine in the hands of those corrupt motherfuckers, we should disempower the machine? Inevitably, someone bad will get voted in. It might be slow. How long after a purge would the state stay 'pure'? Maybe the federal government should have nominal power and the executive shouldn't wield enormous power to fuck our country up when we can lightly shift whose in the driver's seat every 4 years. Maybe states should be able to make most decisions for themselves.

 

[Raoul_Duke]

I know not everybody wants to hear things from a libertarian's perspective, but maybe if we don't want the political machine in the hands of those corrupt motherfuckers, we should disempower the machine? Inevitably, someone bad will get voted in. It might be slow. How long after a purge would the state stay 'pure'? Maybe the federal government should have nominal power and the executive shouldn't wield enormous power to fuck our country up when we can lightly shift whose in the driver's seat every 4 years. Maybe states should be able to make most decisions for themselves.

I agree with you, but given the trend of American history towards the centralization of the federal government, it'd require either a drastic set of reforms, a civil war, or both, to let the states hold more power again.

 

[Overly Serious]

b-but we need those billions to line our pockets!

More like pay back all those donors and favours to the Democrat party that never got paid back when Hillary lost. She made a lot of promises to people it turned out she couldn't deliver on. The whole Build Back Better bill was about paying those people off. Which is why every bit of it that could be blocked would be one more coal on the the Democrat's pyre.

 

[God of Nothing]

The extreme social Darwinist who wanted to strangle the hold the weak and stupid have on America, and the man who values strength of will and character the most?

Fuck yes I'd vote for him only if he turns Pelosi into a donut after he wins.

same
god, it'd be horrifying yet liberating

More like pay back all those donors and favours to the Democrat party that never got paid back when Hillary lost. She made a lot of promises to people it turned out she couldn't deliver on. The whole Build Back Better bill was about paying those people off. Which is why every bit of it that could be blocked would be one more coal on the the Democrat's pyre.

I sincerely doubt that mess will really clear. So much all at once. What a load of shit.

 

[Blacklight]

I agree with you, but given the trend of American history towards the centralization of the federal government, it'd require either a drastic set of reforms, a civil war, or both, to let the states hold more power again.

You kidding? Look at how weak the Federal government is right now. Both the left and right have been taking massive bites out of it whenever they didn't control it. I'd say the fed is pretty weak when you have numerous states telling them to fuck off. It was Florida and Texas with Biden. It was California and New York with Trump.

 

[mandatorylurk]

The Manhattan DA appears to be suspending or stopping the investigation into Trump:

Daily Beast copium




Fox News Article

 

[Hollywood Hitler]

The Manhattan DA appears to be suspending or stopping the investigation into Trump:

Daily Beast copium

View attachment 3118525


Fox News Article

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"B-but he's guilty of something, he's gotsta be!!!!!!!!"

 

[tehpope]

He wants to tax total net worth rather then income for the top tax brackets?

As in if you have stock worth 500k or more your paying 20% of that 500k wether it's realized gains or not?

So taxing unrealized gains. fuck no.

 

[XANA]

Undergirding the plan is a forecast that the economy will return to normal next year after the unprecedented spending tied to the pandemic and inflation.

This seems exceptionally optimistic given the current trend of increasing inflation per month.

I wonder how he plans to tax the unrealized gains. I betting that the people he's going to tax are going to pull a loophole by constantly moving their money through countless accounts and go "oh, we lost all our money last year. Oops! I guess you can't tax us".

 

[Standardized Profile]

Am I understanding this new wealth tax correctly?

He wants to tax total net worth rather then income for the top tax brackets?

As in if you have stock worth 500k or more your paying 20% of that 500k wether it's realized gains or not?

Tell me I'm reading it wrong, please.

If we're reading the same thing, it's still income tax, but the minimum rate is set at 20% for households worth $100M or more. Which means instead of finding or creating deductions, households around the $100M mark will instead find or create ways to hide wealth from ... whoever is supposed to assess it. I don't think the US has an agency that assesses the wealth of every household in the US. But I imagine a lot of art pieces will be declared worthless copies until the owner decides to sell them, and a lot more stuff will go into private security deposit boxes and freeports. Heck, maybe you can convert a few million dollars into American Gold Eagles and record face value instead of spot price. That's a neat trick.

 

[SneedEyeMitch]

The Manhattan DA appears to be suspending or stopping the investigation into Trump:

Daily Beast copium

View attachment 3118525


Fox News Article

View attachment 3118526

flip me, Trump is either the cleanest mf in all of new yorks business world or he is so dirty that actually bringing him down would be committing suicide for the deep state.

 

[Drag-on Knight 91873]

If Trump ever slapped anyone for making fun of his family, he’d have to slap the check marks off every verified twitter user.

Which would be funny.

Said checkmarks would also deserve it.

 

[Sweet and Savoury]

I wonder how he plans to tax the unrealized gains. I betting that the people he's going to tax are going to pull a loophole by constantly moving their money through countless accounts and go "oh, we lost all our money last year. Oops! I guess you can't tax us".

I'm thinking this is all just for show.

A desperate bid to buy something for the upcoming mid-terms. They're is almost no way something like this passes into law so the Dems can point and scream:

"We tried, we tried! It's those damn greedy GoP'ers who stopped us!"

When there is no way in hell the majority of the Dem donors would be on board with such a massive impact to their own wealth. 20% of your wealth every year just gone like poof! Not happening.

It's just more political theater for the masses.

 

[mandatorylurk]

The guy has become legit retarded:

 

[Slappy McGherkin]

I wonder how he plans to tax the unrealized gains.

The answer is: I dunno. But he is all for it and is attempting to do so. From things I've read, this will destroy generational wealth and that's part of the plan. For example, you might have a couple mil in property and such and even though not sold and no actual gain was realized, your heirs are going to have claim it as a capital gain and pay the taxes due upon your death -- even though they haven't made one slim dime off it.

So much for "equity," huh? You'll have to sell anything you inherit just to pay the taxes on it.

This should scare the bejeezuz out of everyone because despite the bullshit of only those making 400k a year or more, this shit WILL trickle down to all taxpayers.

You will own nothing, your children will own nothing (despite your best efforts) and fuck you, you'll LIKE it! /sneed

 

[God of Nothing]

The answer is: I dunno. But he is all for it and is attempting to do so. From things I've read, this will destroy generational wealth and that's part of the plan. For example, you might have a couple mil in property and such and even though not sold and no actual gain was realized, your heirs are going to have claim it as a capital gain and pay the taxes due upon your death -- even though they haven't made one slim dime off it.

So much for "equity," huh? You'll have to sell anything you inherit just to pay the taxes on it.

This should scare the bejeezuz out of everyone because despite the bullshit of only those making 400k a year or more, this shit WILL trickle down to all taxpayers.

You will own nothing, your children will own nothing (despite your best efforts) and fuck you, you'll LIKE it! /sneed

that is one of the most retarded society-destroying ideas i've ever seen

people with money who aren't retarded will mass exodus from this country

 

[HTTP Error 404]

Am I understanding this new wealth tax correctly?

He wants to tax total net worth rather then income for the top tax brackets?

As in if you have stock worth 500k or more your paying 20% of that 500k wether it's realized gains or not?

Tell me I'm reading it wrong, please.

You're not. He wants to tax "unrealized capital gains." If you buy a stock at 100, it goes to 200, that's 100 in "unrealized gains" even if you do not sell. SPECIFICALLY if you do not sell. And he wants to tax you on THAT. (I'm not sure if he wants to tax you on the whole $200 or just the $100 in unrealized gains, in the end it doesn't matter.)

You couldn't think of a more idiotic thing to try. Everyone who owns any real money is just going to move their money out of the US. Forget everything else he's done to the economy, if this goes through as it stands everything will implode overnight.


Remember that old 4chan copypasta about Russia in the 1900s? How they tried to go after the money of the stupidly wealthy and they just moved it out of Russia and suddenly the country was dead fucking broke with a whole lot of very hungry socialists that were promised utopia? Yeah.

I know that Biden's basically a meat puppet with a potato for a brain and the real people in charge are whatever batshit insane Cabal members can rush out of the melee and grab control of the teleprompter for a few minutes each week, but I'm guessing we're seeing the Progressive Idiot Cacaus pushing this idea through. And like every other boneheaded far leftist idea, they just presume they can make huge changes to a system and no one else is allow to make changes, and unexpected consequences aren't allowed, and yadda yadda yadda. All those Big Tech Bros that have been oh so friendly to the left? All the Corporates that played ball and put up rainbow flags to get a high enough DEI score to make the Venture Capitalists happy? Yeah they'll just start giving up a straight 20% of everything they own for the cause, right? Surely they won't move everything they own to the UK, to Ireland, or to Switzerland. Or god forbid, China.

I'm wondering if one of these will be the last straw that makes them decide to stop fucking over Trump because, ya know what, he was "bad" but he wasn't "give us 20% of your assets off the top each year" bad. It would be hilarious, absolutely hilarious, to see the Big Tech / Corpo wing of the Cabal decide to stop playing ball just in time for Trump's media push to start over the next few years.