Economy Biden’s tax plan didn’t eliminate capital gains so nothing will change for the rich.

Rod1 said:
Ironically it would also make stock investment even more speculative, long term investment would be greatly discouraged since you will want to realize gains as fast as possible since you are paying taxes for them anyway.

If anything the Hillary plan was much better the one where you got a discount on capital gains taxes if you sold after 5 years.
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That was one of the better policies I think her campaign had. I think if you bumped rates, expanding the lengths would make it more manageable to pass.
 
Jack V Savage said:
You're not seeing people chime in with agreement with the author?
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They were obviously just commenting on the title of the thread and did not actually read the article since no one even mentioned anything about taxing unrealized capital gains.
 
this is easily the most intelligent sub-forum on the internet
 
ultramanhyata said:
You really think Tsekova personally believes it makes bad economic sense to defer taxes on capital gains returns? It was written as a for-profit piece with a click-baity title.

Yahoo Finance: "Hey, we need somebody to write a hot-take article about Biden's tax plan that makes it look potentially regressive. Any takers?"
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Look at the rest of her pieces. If anything, it might be that she felt the need to write something negative to balance out the positively framed stuff (that really is how stupid the thinking is).
 
Jack V Savage said:
That would be extremely regressive and would likely have at least some growth-dampening effect, but OK, maybe you think it's more fair for poorer people to pay more or something. That's coming from the exact opposite angle as the writer in the link. She's complaining that Biden hasn't pushed to tax *unrealized* capital gains, even though he has pushed for an increase in the capital-gains tax rates.
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How would that be regressive? Even though I don't think we should only have a consumption tax, it's not like poor people are suddenly going to be able to afford a 20 billion dollar yacht but the taxes are what's holding them back
 
cincymma79 said:
How would that be regressive? Even though I don't think we should only have a consumption tax, it's not like poor people are suddenly going to be able to afford a 20 billion dollar yacht but the taxes are what's holding them back
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"Regressive" = poorer people pay a higher percentage of their income. Poorer people pay a higher share of their income on consumables so a flat tax on consumables = poorer people pay a higher percentage of their income = "regressive."
 
White Whale said:
Joe Biden’s plan to tax the rich leaves out capital gains which will ensure the wealthiest Americans keep their money.

Basically Biden’s tax plan is only going to hurt the middle and working class because rich people will continue earning returns on untaxed money.
https://finance.yahoo.com/amphtml/n...ich-biden-plan-didnt-eliminate-152434064.html
https://finance.yahoo.com/amphtml/n...ich-biden-plan-didnt-eliminate-152434064.html
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I am not surprised you don’t understand the article you’ve posted. This is a growing trend. You should have your thread making abilities restricted. You post as if you understand something you haven’t read and only think it’s bad because someone on YouTube told you it was. You constantly come out of these threads looking like a huge idiot.
 
Jack V Savage said:
"Regressive" = poorer people pay a higher percentage of their income. Poorer people pay a higher share of their income on consumables so a flat tax on consumables = poorer people pay a higher percentage of their income = "regressive."
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It amazes me how people think that rich people somehow buy more of the same commodities as middle/poor people. We all buy roughly the same shit. Rich people generally pay for a higher quality item because they can. The high ticket items rich people can only buy are already taxed and I’m betting if we moved to a flat tax system, those items would have their % reduced through lobbying.
 
Jack V Savage said:
"Regressive" = poorer people pay a higher percentage of their income. Poorer people pay a higher share of their income on consumables so a flat tax on consumables = poorer people pay a higher percentage of their income = "regressive."
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We have sales tax now
 
lmao @ taxing unrealized gains.
 
Rod1 said:
"OMG Biden is a commie"
"OMG Biden is a plutocrat"
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1. Biden wants to do something that everyone agrees with.

OMG, he's a communist, all the wealthy people are going to LEAVE and all the companies will LEAVE
​
2. Republicans block that thing

See?! I told you he only cares about the rich; what a hypocrite!​
 
taxing unrealized gains has been a mantra of lefties for years.
 
4daLuLZ said:
I’m confused.
I thought the Republicans believed in trickle down economics ?

Also lol at thinking that all rich people only make money through capital gains while the middle class only make money through minimum wage.

Also, taxing capital gains like regular income tax is not a good idea imo. At most, u can add a surcharge over income over a certain amount derived from capital gains.
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Biden=DINO
 
Trotsky said:
1. Biden wants to do something that everyone agrees with.

OMG, he's a communist, all the wealthy people are going to LEAVE and all the companies will LEAVE
​
2. Republicans block that thing

See?! I told you he only cares about the rich; what a hypocrite!​
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How are the Republetards blocking anything?
 
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