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

bobgeese said:
Let's be clear, he lost because he had the misfortune of being president when a global pandemic hit.
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Yes, because it showed what a can he was, he was somewhat popular while riding on a bull market once his first crisis came up, he caved.
 
Son of Ireland 34 said:
Well shit, I thought we had a filibuster proof majority going on.
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Heavens no, child. If that were the case, the PRO Act would be passed, the voting rights act would be passed, the IRS would have new funding to tackle tax evasion by the wealthy, and DC would be a state.
 
There needs to be something done about billionaires using charities for tax evasion. Bill Gates for example gets tax breaks by donating money to his own charity. This charity is then used to hoard wealth, invest in stocks and to make tax free transactions. Gates isn't the only one doing this and pretty much every international organization is prone to corruption from these people who use their wealth to get NGOs and media organizations to push agendas that make them more money. There literally needs to be a limit on how much wealth one person can have, because it inevitably leads to corruption and tyranny (eg. almost every war the last 70 years was started because of bribery).
 
thehighking said:
There needs to be something done about billionaires using charities for tax evasion. Bill Gates for example gets tax breaks by donating money to his own charity. This charity is then used to hoard wealth, invest in stocks and to make tax free transactions. Gates isn't the only one doing this and pretty much every international organization is prone to corruption from these people who use their wealth to get NGOs and media organizations to push agendas that make them more money. There literally needs to be a limit on how much wealth one person can have, because it inevitably leads to corruption and tyranny (eg. almost every war the last 70 years was started because of bribery).
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Yes, lets trust the government to limit how much wealth a person can have. That sounds like socialism. You are ok with going from having private citizens be the 1%, to the government being the 1%? Ask Venezuela how that turned out. People were starving, while their fat fuck of a leader was eating during his press conferences.
 
Son of Ireland 34 said:
Yes, lets trust the government to limit how much wealth a person can have. That sounds like socialism. You are ok with going from having private citizens be the 1%, to the government being the 1%? Ask Venezuela how that turned out. People were starving, while their fat fuck of a leader was eating during his press conferences.
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I definitely think there should be a limit. Why the fuck should one person be allowed to have over a billion dollars? That's absolutely insane when other people are literally starving to death. And ya the reaction from US government then was to sanction and confiscate the country's finances causing more people to starve and die from lack of medicine. Those in power are almost always sociopathic. Governments can't be trusted to deal with this properly but I can't think of any reason why a wealth limit would be a negative thing, only it's almost impossible because it would have to be a completely global agreement otherwise the billionaires would just jump ship.
 
thehighking said:
I definitely think there should be a limit. Why the fuck should one person be allowed to have over a billion dollars? That's absolutely insane when other people are literally starving to death. And ya the reaction from US government then was to sanction and confiscate the country's finances causing more people to starve and die from lack of medicine. Those in power are almost always sociopathic. Governments can't be trusted to deal with this properly but I can't think of any reason why a wealth limit would be a negative thing, only it's almost impossible because it would have to be a completely global agreement otherwise the billionaires would just jump ship.
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Close ALL tax loops in order to pay for social safety nets. But having the government put a limit on how much money I can honestly earn is tyrannical.
 
Son of Ireland 34 said:
Close ALL tax loops in order to pay for social safety nets. But having the government put a limit on how much money I can honestly earn is tyrannical.
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If it was capped at one billion dollars (still far too high imo) I don't think it's something to concern yourself with. There's nothing tyrannical about limiting people from being billionaires but it is tyrannical for billionaires to exist while other people starve. It's probably the most immoral thing happening in our lifetime, the existence of extreme super wealthy people.
 
thehighking said:
If it was capped at one billion dollars (still far too high imo) I don't think it's something to concern yourself with. There's nothing tyrannical about limiting people from being billionaires but it is tyrannical for billionaires to exist while other people starve. It's probably the most immoral thing happening in our lifetime, the existence of extreme super wealthy people.
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Concern myself with? When will they stop? What's the magic number? It's starts with billionaires. What happens when their money is gone?
 
Son of Ireland 34 said:
Concern myself with? When will they stop? What's the magic number? It's starts with billionaires. What happens when their money is gone?
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I don't see any reason why it would be beneficial to anyone to lower it to affect people who aren't super rich. That's like worrying that the government is going to make it illegal to drive since it's illegal to drive drunk. Everybody would be against such a move and it doesn't benefit anyone to make that the law. Making a limit on billionaires wealth is something that almost everyone would agree on and it benefits everyone except the tiny minority who are billionaires.
 
thehighking said:
I don't see any reason why it would be beneficial to anyone to lower it to affect people who aren't super rich. That's like worrying that the government is going to make it illegal to drive since it's illegal to drive drunk. Everybody would be against such a move and it doesn't benefit anyone to make that the law. Making a limit on billionaires wealth is something that almost everyone would agree on and it benefits everyone except the tiny minority who are billionaires.
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Ok, let me ask it another way, what happens when the loot is gone, but the programs still need funding?
 
Son of Ireland 34 said:
Ok, let me ask it another way, what happens when the loot is gone, but the programs still need funding?
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I'm not following you. What I'm proposing is a simple law to be made where a person cannot earn more wealth above say a billion dollars. Anything over that amount can be confiscated by the IRS. There doesn't need to be any new programs just a change to laws that already exist like capital gains tax etc
 
thehighking said:
I'm not following you. What I'm proposing is a simple law to be made where a person cannot earn more wealth above say a billion dollars. Anything over that amount can be confiscated by the IRS. There doesn't need to be any new programs just a change to laws that already exist like capital gains tax etc
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Follow me bro. What are we doing with the money that we are taking from the billionaires? What happens when there isnt any more billions to grab? What happens to the programs that offer the handouts that come from the billions that we confiscated? The people will still need bread. The money will have to come from somewhere else when there isnt any more billionaires to fund them.
 
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