Biden Aims at Top 0.3% With Bid to Tax Capital Like Wages

#3
It always amazes me this is how some GOP members get votes. 80% of the people who voted for GOP candidates because of taxes will NEVER make a million in a year in their lifetimes and they know it. But Biden is a communist and this infringes on their freedom. Just comical.
 
#5
Of course there will be loopholes and tax shelters attempted, but it will at least begin to address the issues with the tax code. People who structure their earnings to be capital gains and then act like that's not really their profession will pay up. As any decent economist will tell you if you tax something more then you get less of it. As a nation are we really concerned if there are fewer paper financial transactions that benefit millionaires only? A ton of the money raised will come from those making millions off their options and from financial traders. Other avenues of revenue will come from the sales of multi-million dollar residences. I'd love to see a GOP senator in Kentucky or Alabama spin that one to their loyal flock of followers in trailer parks and rural shanty homes that its communism and it hurts them.
 

Heim

EOG Master
#6
  • People earning $1 million would pay 43.4% with Obamacare levy
  • Total tax rates for New Yorkers, Californians could top 50%
Doesn't matter, the CA counties are filthy rich from the property tax revenue. Every time
a house is sold they re-assess the property for mo money, mo money.
 
#7
  • People earning $1 million would pay 43.4% with Obamacare levy
  • Total tax rates for New Yorkers, Californians could top 50%

This is interesting considering the highest tax bracket is 37%. The investment income tax is 3.8% on investment income of couples that have AGI of over $250,000. Most investment income is qualified dividends and long term capital gains. Which has a favorable tax rate of 15% or 20%. As usual Mr. Top is spreading misinformation.


So 37% on ordinary income. 23.8% on dividends and Cap Gains. Don't see how this blended average equals 43.4%. It's a lie!

I love how this Trump humper uses the term Obamacare levy. LOL
 
#8
This is interesting considering the highest tax bracket is 37%. The investment income tax is 3.8% on investment income of couples that have AGI of over $250,000. Most investment income is qualified dividends and long term capital gains. Which has a favorable tax rate of 15% or 20%. As usual Mr. Top is spreading misinformation.


So 37% on ordinary income. 23.8% on dividends and Cap Gains. Don't see how this mixed average equals 43.4%. It's a lie!




do you need the money to subscribe to bloomberg?
 
#10
Why would I want that if it's full of misinformation. Trump took away tax cuts for the Blue states like California and N.Y. Notice how the Trump humper didn't mention the Blue State Trump L:evy?


Bloomberg gives you finance CNN let's you know what the stars are wearing that day
 
#14
I got a horse for you two today. The #1 in the 5th at SA.


The White House plans to propose almost doubling the capital gains tax rate for those earning $1 million or more, to 39.6%, according to people familiar with the proposal. That wouldn’t affect many. Only about 0.32% of American taxpayers reported adjusted gross income of more than $1 million and capital gains or losses on their returns, according to Internal Revenue Service tax return data from 2018.The move would send the top federal rate on the appreciation in assets sold by the rich as high as 43.4% when including a surtax to help pay for Obamacare. And it would upend a century-old precedent of under-taxing investment relative to wages and salaries.For $1 million earners in high-tax states, rates on capital gains could be above 50%. For New Yorkers, the combined state and federal capital gains rate could be as high as 52.22%. For Californians, it could be 56.7%.
 
#15
it will be more like 95% will pay the bill and the rest will get away without paying the bill that is coming
It doesn't look like these comments reconcile with the proposals you're trafficking. Keyword proposal. Another keyword word is only .32% have AGI over 1 million. Why are you using this nonsense to fuck with everyone. We could simply watch Fox News if we wanted to hear fear mongering?
 
#19
It doesn't look like these comments reconcile with the proposals you're trafficking. Keyword proposal. Another keyword word is only .32% have AGI over 1 million. Why are you using this nonsense to fuck with everyone. We could simply watch Fox News if we wanted to hear fear mongering?



just posting what is in the news



here is another one.... one day your accounting job will be obsolete... good thing you are not young
 

GameBred

I Trade Therefore I Am
#21
It always amazes me this is how some GOP members get votes. 80% of the people who voted for GOP candidates because of taxes will NEVER make a million in a year in their lifetimes and they know it. But Biden is a communist and this infringes on their freedom. Just comical.
What you and ecspecially Marx didn't understand is that the Common Man doesn't want to overthrow the Upper Class, he wants to become one of them.

God Bless America.
 
#24
Tax wealth. Real rich people don't need income. You could tax billionaires 100% income and they will laugh in your Big Dummy face.

Turns you on I'm sure. Tell everybody again how you would like Railturd too tag your bottom. I assume you meant you were the bottom boy in that Nazi relationship.

"JK, bigrunner is attacking me again. Do something JK".
- Very Dumb Dude
 
#25
It always amazes me this is how some GOP members get votes. 80% of the people who voted for GOP candidates because of taxes will NEVER make a million in a year in their lifetimes and they know it. But Biden is a communist and this infringes on their freedom. Just comical.
This Guy is All In on Giving His Income To Democratic Politicians.

They Won't Even Send Him a Thank You Card For His Vote.

Maybe He Gambles For Brain Exercise, and Doesn't Rally Need The Cash.
 
#28
Joe won't raise taxes for people making 200k or more


now he will just take the trump tax cuts away..... so everyone gets taxed...LOL



keeps moving the goal post
I just finished a tax return where the taxpayers had $115,000 in Salt expenses. Before Trump they were able to write off 100% of the $115,000. After Trump's tax cuts for the richest individuals and the biggest corps these taxpayers were only allowed a $10,000 writeoff. Their taxes were higher after the so called Trump tax cuts for everyone. LOL

In other news due to the Trump tax cuts for the richest individuals and biggest corps:

In 2020 alone, Nike recorded pre-tax income of $2.9 billion, yet it paid no federal income tax, the analysis found. Instead, it got a tax rebate of $109 million. FedEx received a rebate of $230 million on pretax income of $1.2 billion last year.Apr 2, 2021.

Nike and FedEx haven't paid federal income tax in three years ...

55 massive corporations like nike paid $0 federal tax in 2020 ...
 
#30
I just finished a tax return where the taxpayers had $115,000 in Salt expenses. Before Trump they were able to write off 100% of the $115,000. After Trump's tax cuts for the richest individuals and the biggest corps these taxpayers were only allowed a $10,000 writeoff. Their taxes were higher after the so called Trump tax cuts for everyone. LOL

In other news due to the Trump tax cuts for the richest individuals and biggest corps:

In 2020 alone, Nike recorded pre-tax income of $2.9 billion, yet it paid no federal income tax, the analysis found. Instead, it got a tax rebate of $109 million. FedEx received a rebate of $230 million on pretax income of $1.2 billion last year.Apr 2, 2021.

Nike and FedEx haven't paid federal income tax in three years ...

55 massive corporations like nike paid $0 federal tax in 2020 ...




I understand that the corp. pay no tax... however they give out jobs to people. Tax code should be redone agree... this does not take away joe walking back what he said
 
#32
I just finished a tax return where the taxpayers had $115,000 in Salt expenses. Before Trump they were able to write off 100% of the $115,000. After Trump's tax cuts for the richest individuals and the biggest corps these taxpayers were only allowed a $10,000 writeoff. Their taxes were higher after the so called Trump tax cuts for everyone. LOL

In other news due to the Trump tax cuts for the richest individuals and biggest corps:

In 2020 alone, Nike recorded pre-tax income of $2.9 billion, yet it paid no federal income tax, the analysis found. Instead, it got a tax rebate of $109 million. FedEx received a rebate of $230 million on pretax income of $1.2 billion last year.Apr 2, 2021.

Nike and FedEx haven't paid federal income tax in three years ...

55 massive corporations like nike paid $0 federal tax in 2020 ...




my taxes go up every time a dem gets in office... always did
 
#34
[QUOTE="MrTop, post: 7705490, member: 33783"]my taxes go up every time a dem gets in office... always did[/QUOTE]

Mine went up after Trump lower taxes for the very rich and raised my taxes. I can no longer take personal exemptions or deductions for state and local property taxes or unreimbursed property taxes. You seem to think everything is black and white. But it's obviously not the case. Look around don't always assume what happens to you happens to everyone. Very selfish mindset!!!
 
#35
[QUOTE="MrTop, post: 7705490, member: 33783"]my taxes go up every time a dem gets in office... always did
Mine went up after Trump lower taxes for the very rich and raised my taxes. I can no longer take personal exemptions or deductions for state and local property taxes or unreimbursed property taxes. You seem to think everything is black and white. But it's obviously not the case. Look around don't always assume what happens to you happens to everyone. Very selfish mindset!!![/QUOTE]




i don't care if they go up or down... but don't say 400k couples and move the posts.. also the donald talking bad about bitcoin but the banks are putting it their software ...huh ?
 
#36
https://tradingeconomics.com/united-states/corporate-tax-rate

FACT SHEET: CORPORATE TAX RATES
Key Facts
 
#37
https://tradingeconomics.com/united-states/corporate-tax-rate

FACT SHEET: CORPORATE TAX RATES
Key Facts





i know... i am talking about walking back of 400k
 
#38
Mine went up after Trump lower taxes for the very rich and raised my taxes. I can no longer take personal exemptions or deductions for state and local property taxes or unreimbursed property taxes. You seem to think everything is black and white. But it's obviously not the case. Look around don't always assume what happens to you happens to everyone. Very selfish mindset!!!



i don't care if they go up or down... but don't say 400k couples and move the posts.. also the donald talking bad about bitcoin but the banks are putting it their software ...huh ?[/QUOTE]


Donald? You mean Pinocchio. Remember when he was selling his tax cuts where 90% were going to the richest Americans and foreign investors? He actually said "my rich friends are mad at me because their taxes aren't going down..

Silence from Republicon Mr. Top as Pinocchio was selling his tax cuts for the richest as a middle class tax cut that will hurt rich people like himself.

ST. CHARLES, Mo. — President Trump flew to Missouri on Wednesday to talk about tax cuts lifting Main Street and the middle class. But he kept getting sidetracked by repeating unfounded claims that the tax bill poised to pass the Senate would hurt rich people, himself included.
“This is going to cost me a fortune, this thing, believe me,” Mr. Trump said, in the midst of a frequently meandering 45-minute speech to a festive crowd of 1,000. Then he invoked Senator Chuck Schumer of New York, the Democratic leader. “This is not good for me. Me, it’s not so — I have some very wealthy friends. Not so happy with me, but that’s OK. You know, I keep hearing Schumer: ‘This is for the wealthy.’ Well, if it is, my friends don’t know about it.”
Mr. Trump went on to promise to sign the bill, and to vow that, if passed, it would reduce taxes by $2,000 a year for a family of four with a $75,000 annual income. A few moments later, Mr. Trump was back talking about the rich, and about his own taxes going up.
 
#39
i don't care if they go up or down... but don't say 400k couples and move the posts.. also the donald talking bad about bitcoin but the banks are putting it their software ...huh ?

Donald? You mean Pinocchio. Remember when he was selling his tax cuts where 90% were going to the richest Americans and foreign investors? He actually said "my rich friends are mad at me because their taxes aren't going down..

Silence from Republicon Mr. Top as Pinocchio was selling his tax cuts for the richest as a middle class tax cut that will hurt rich people like himself.

ST. CHARLES, Mo. — President Trump flew to Missouri on Wednesday to talk about tax cuts lifting Main Street and the middle class. But he kept getting sidetracked by repeating unfounded claims that the tax bill poised to pass the Senate would hurt rich people, himself included.
“This is going to cost me a fortune, this thing, believe me,” Mr. Trump said, in the midst of a frequently meandering 45-minute speech to a festive crowd of 1,000. Then he invoked Senator Chuck Schumer of New York, the Democratic leader. “This is not good for me. Me, it’s not so — I have some very wealthy friends. Not so happy with me, but that’s OK. You know, I keep hearing Schumer: ‘This is for the wealthy.’ Well, if it is, my friends don’t know about it.”
Mr. Trump went on to promise to sign the bill, and to vow that, if passed, it would reduce taxes by $2,000 a year for a family of four with a $75,000 annual income. A few moments later, Mr. Trump was back talking about the rich, and about his own taxes going up.[/QUOTE]





not a republican ..... although i like the republicans when it come to foreign policy. ....i don't vote for them...even if i did it would not matter....blue state
 
#40
Donald? You mean Pinocchio. Remember when he was selling his tax cuts where 90% were going to the richest Americans and foreign investors? He actually said "my rich friends are mad at me because their taxes aren't going down..

Silence from Republicon Mr. Top as Pinocchio was selling his tax cuts for the richest as a middle class tax cut that will hurt rich people like himself.

ST. CHARLES, Mo. — President Trump flew to Missouri on Wednesday to talk about tax cuts lifting Main Street and the middle class. But he kept getting sidetracked by repeating unfounded claims that the tax bill poised to pass the Senate would hurt rich people, himself included.
“This is going to cost me a fortune, this thing, believe me,” Mr. Trump said, in the midst of a frequently meandering 45-minute speech to a festive crowd of 1,000. Then he invoked Senator Chuck Schumer of New York, the Democratic leader. “This is not good for me. Me, it’s not so — I have some very wealthy friends. Not so happy with me, but that’s OK. You know, I keep hearing Schumer: ‘This is for the wealthy.’ Well, if it is, my friends don’t know about it.”
Mr. Trump went on to promise to sign the bill, and to vow that, if passed, it would reduce taxes by $2,000 a year for a family of four with a $75,000 annual income. A few moments later, Mr. Trump was back talking about the rich, and about his own taxes going up.




not a republican ..... although i like the republicans when it come to foreign policy. ....i don't vote for them...even if i did it would not matter....blue state[/QUOTE]


Then why are you always calling out Biden but I recall you would never called out Pinocchio. Here's proof of Pinocchio being Pinocchio when he says tax cuts will hurt rich people like himself? Silence from Republicon Mr. Top. I recall you actually praised him. You once made a bold prediction that he was going to come down hard on China for something China did. You were wrong. Trump, Jared and Ivanka were in cahoots with China.

Sorry, you're to easy to expose. Don't take it personally!
 
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