Things that made you Facepalm today (Political Version)

[Suppa Hobbit Mage]

Biden literally has no idea what he is doing... ESPECIALLY in an election year.

https://www.kiplinger.com/taxes/bide...gains-tax-rate

And before you say "OMG IT'S JUST A TAX ON TEH RICH!" let me give you a little history lesson:

Federal income tax was first proposed in the early 1900's as a "tax on the rich"

The troubling part of Biden's tax plan is the unrealized gains... so you are paying taxes upon stuff you just own but has gone up in price.

So if you purchased a home for $300K and put some sweat equity into the home, bringing its value to $500K, suddenly you owe money on the net $200K gain.. even though you still own this home.

What a colossal fucking shitty proposal. Anyone who votes yes for it needs to be voted out of office.

Why bother investing in a 401k or anything for that matter that appreciates. It's the dumbest possible thing any politician could propose, unless their goal was to get everyone on the government tit or for everyone to die broke and homeless.

Edit to add; Also, great way to destroy generational wealth so that the poor stay poor and the middle class becomes poor.

[Methais]

unless their goal was to get everyone on the government tit or for everyone to die broke and homeless.

This is correct. Turning everyone into Seran is their ultimate goal.

[Seran]

Biden literally has no idea what he is doing... ESPECIALLY in an election year.

https://www.kiplinger.com/taxes/bide...gains-tax-rate

And before you say "OMG IT'S JUST A TAX ON TEH RICH!" let me give you a little history lesson:

Federal income tax was first proposed in the early 1900's as a "tax on the rich"

The troubling part of Biden's tax plan is the unrealized gains... so you are paying taxes upon stuff you just own but has gone up in price.

So if you purchased a home for $300K and put some sweat equity into the home, bringing its value to $500K, suddenly you owe money on the net $200K gain.. even though you still own this home.

What a colossal fucking shitty proposal. Anyone who votes yes for it needs to be voted out of office.

So now you're going to make up nonsense about taxing non existent income?

[Suppressed Poet]

A summary of Biden’s tax policy:

[Methais]

So now you're going to make up nonsense about taxing non existent income?

Is WaPo making it up too?



https://www.washingtonpost.com/busin...naires-assets/


Retard.

[Suppressed Poet]

Obama wanted to tax unrealized gains on 401Ks back in the day, and Biden is just a regurgitation of that same policy that failed to pass then. Democrats see that untapped sweet wealth building for regular Americans and want to pillage it for taxes before a person retires.

[Suppressed Poet]

Is WaPo making it up too?



https://www.washingtonpost.com/busin...naires-assets/


Retard.

WaPo is making up the exclusively super rich part to gain favorable public opinion. The headline should be: Democrats look for new ways to tax

[Seran]

Obama wanted to tax unrealized gains on 401Ks back in the day, and Biden is just a regurgitation of that same policy that failed to pass then. Democrats see that untapped sweet wealth building for regular Americans and want to pillage it for taxes before a person retires.

So do you have a source for either President proposing taxing unrealized 401k gains?

[Suppressed Poet]

So do you have a source for either President proposing taxing unrealized 401k gains?

Obama:
https://www.cnbc.com/2014/03/18/obam...1k-savers.html

Biden:
https://www.usfunds.com/resource/the...ealized-gains/

If you don’t like either of those, Google Obama/Biden unrealized gains and you can pick your source.

And before you go on to say this only impacts people with millions in their retirement accounts, if such a thing were to pass the next thing to promptly happen would be to expand to everyone else just like income & capital gains tax historically did. How about instead we just cut the budget of the federal government & reduce wasteful spending?

[Methais]

WaPo is making up the exclusively super rich part to gain favorable public opinion. The headline should be: Democrats look for new ways to tax

I'm sure it'll be dead on arrival, especially with the amount of insider trading these retards in Congress do. But just the fact that they're even trying to push it again is almost as dumb as Seran trying to use apostrophes.