Supposedly "just for billionaires", this bill would make all long term investments un-desireable. It will be applied to everyone else soon after, and the billionaires will find a way to not pay it.
They want to tax your investments every time the stock market goes up, before you even sell the stock. If it goes up they tax you, if you sell it they tax you. If the investment goes down in value, well that's your problem.
This will wreck what's left of the economy, and that is obviously their goal before they roll out their new digital currency (FedCoin) as a replacement.
It's still capital gain, which also means tangible holdings like land, precious metals, and possibly even personal property, since those also can accrue value and are only taxed at the time of sale (ignoring property tax on land, of course.) And as anyone who's owned a house knows, all the city has to do to squeeze more revenue out of you is to send over the assessor (as if inflation and the housing price bubble weren't bad enough.) Doubtless, that's one of the intended functions of those 80,000 new additional IRS agents the Biden administration wants to hire.
Call me a conspiracy nut, but this fits neatly with the Great Reset's concept of a property-less serf class, since it would drive everyone but the very wealthiest to choose between selling off their assets or continue to be bled dry holding something they may have never intended to sell in the first place. Indeed, this is a war on property.
Make sure your tin foil is on tight nut, we're going into the chop.
This is definitely taxation on everything. I'm getting tired of the neo serfdom concept manifestation.
Only counter point I can really think of is that the government is fucked if they don't pull in a crap ton of money. Taxes just aren't pulling in enough to hold it together, so they're squeezing out every drop they can get.
[ - ] Prairie 1 point 3.5 yearsOct 27, 2021 23:16:07 ago (+1/-0)
The idea is that for billionaires only, annual gains in wealth would be treated as income. So under current law, someone whose net worth rose to $22 billion from $20 billion and sold nothing would have no income. Under Mr. Wyden’s proposal, that person would have $2 billion of taxable income.
One challenge for the proposal is that it would need to deal with losses, and the prospect of the government sending large checks to billionaires is politically unappealing. Lawmakers could allow deductions for annual losses while also imposing limits on those deductions or allowing them to carry forward to offset gains in future years.
So the crooked governors want a cut of all winnings, but want to limit their losses.
Right, because discouraging investments is such a great idea. You think they're gonna stop at billionaires? You think this country will benefit from investing overseas instead of here?
I'm certainly not denying how much fuckery has gone on with regards to our money and financial system. And I'm not a fan of most millionaires because many have gained success through fraudulent means.
That being said, if we actually had a free economy, discouraging investments would be absolutely retarded. At it's very premise though, do you think investments are a tool of the jews? Because investing just seems like a natural human concept to hedge against whatever shit life might throw at you. People can invest to better their communities
My own conspiracy theory is that they are trying to fail on purpose and blame the republicans. The tax itself makes no sense. They tax you on unrealized capital gains will they refund you for unrealized capital loses if that stock tanks?
[ + ] patchCodeUnsuccessful
[ - ] patchCodeUnsuccessful 4 points 3.5 yearsOct 27, 2021 15:36:15 ago (+4/-0)
So, basically anybody that invests in stocks for long periods. Like anybody with a 401k, or roth ira.
[ + ] La_Chalupacabra
[ - ] La_Chalupacabra 3 points 3.5 yearsOct 27, 2021 16:25:10 ago (+3/-0)
And as anyone who's owned a house knows, all the city has to do to squeeze more revenue out of you is to send over the assessor (as if inflation and the housing price bubble weren't bad enough.)
Doubtless, that's one of the intended functions of those 80,000 new additional IRS agents the Biden administration wants to hire.
Call me a conspiracy nut, but this fits neatly with the Great Reset's concept of a property-less serf class, since it would drive everyone but the very wealthiest to choose between selling off their assets or continue to be bled dry holding something they may have never intended to sell in the first place.
Indeed, this is a war on property.
[ + ] patchCodeUnsuccessful
[ - ] patchCodeUnsuccessful 3 points 3.5 yearsOct 27, 2021 16:30:49 ago (+3/-0)
This is definitely taxation on everything. I'm getting tired of the neo serfdom concept manifestation.
Only counter point I can really think of is that the government is fucked if they don't pull in a crap ton of money. Taxes just aren't pulling in enough to hold it together, so they're squeezing out every drop they can get.
[ + ] Prairie
[ - ] Prairie 1 point 3.5 yearsOct 27, 2021 23:16:07 ago (+1/-0)
One challenge for the proposal is that it would need to deal with losses, and the prospect of the government sending large checks to billionaires is politically unappealing. Lawmakers could allow deductions for annual losses while also imposing limits on those deductions or allowing them to carry forward to offset gains in future years.
So the crooked governors want a cut of all winnings, but want to limit their losses.
[ + ] con77
[ - ] con77 1 point 3.5 yearsOct 27, 2021 19:51:22 ago (+1/-0)
[ + ] account deleted by user
[ - ] account deleted by user 1 point 3.5 yearsOct 27, 2021 17:04:27 ago (+1/-0)
[ + ] noonefromnowhere
[ - ] noonefromnowhere 1 point 3.5 yearsOct 27, 2021 16:10:11 ago (+1/-0)
[ + ] Flabbygasted
[ - ] Flabbygasted 2 points 3.5 yearsOct 27, 2021 16:43:54 ago (+2/-0)
[ + ] noonefromnowhere
[ - ] noonefromnowhere 0 points 3.5 yearsOct 27, 2021 21:04:52 ago (+0/-0)
[ + ] Flabbygasted
[ - ] Flabbygasted 1 point 3.5 yearsOct 27, 2021 21:13:11 ago (+1/-0)
That being said, if we actually had a free economy, discouraging investments would be absolutely retarded. At it's very premise though, do you think investments are a tool of the jews? Because investing just seems like a natural human concept to hedge against whatever shit life might throw at you. People can invest to better their communities
[ + ] Shitheel
[ - ] Shitheel 0 points 3.5 yearsOct 27, 2021 18:00:40 ago (+0/-0)
[ + ] allahead
[ - ] allahead [op] 0 points 3.5 yearsOct 28, 2021 15:11:12 ago (+0/-0)
[ + ] StealthNinjaTaliban
[ - ] StealthNinjaTaliban 0 points 3.5 yearsOct 27, 2021 17:28:15 ago (+0/-0)
[ + ] Prairie
[ - ] Prairie 1 point 3.5 yearsOct 27, 2021 23:18:32 ago (+1/-0)