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The 11 states where Americans face at least 50% capital gains tax rates if Biden's plan passes ... do YOU live in one of them?
UK Daily Mail ^ | May 3 2024 | KATELYN CARALLE

Posted on 05/03/2024 10:37:38 AM PDT by knighthawk

click here to read article


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1 posted on 05/03/2024 10:37:38 AM PDT by knighthawk
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To: knighthawk

I am flabbergasted my state is not in that group.


2 posted on 05/03/2024 10:42:16 AM PDT by rlmorel (In Today's Democrat America, The $5 Dollar Bill is the New $1 Dollar Bill.)
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To: knighthawk

Three words: Sweet Home Alabama


3 posted on 05/03/2024 10:48:48 AM PDT by Tell It Right (1st Thessalonians 5:21 -- Put everything to the test, hold fast to that which is true.)
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To: knighthawk

Well they have to pay for all of that FOREIGN aid somehow.


4 posted on 05/03/2024 10:50:14 AM PDT by jimwatx
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To: knighthawk

Jimmah still has some pull. And is more popular.

Biden is the least popular president in 70 years — below even Nixon and Carter, scathing poll finds

https://www.msn.com/en-us/news/politics/biden-is-the-least-popular-president-in-70-years-below-even-nixon-and-carter-scathing-poll-finds/ar-AA1nMbow


5 posted on 05/03/2024 10:51:09 AM PDT by Libloather (Why do climate change hoax deniers live in mansions on the beach?)
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To: knighthawk

Great graphic

https://www.thegatewaypundit.com/2024/05/exclusive-lefts-election-industrial-complex-discovered-defined-inbox/


6 posted on 05/03/2024 10:51:29 AM PDT by combat_boots
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To: knighthawk

There is also a 25% tax on unrealized gains. The question is how exactly is this going to be implemented. If the tax applies to gains from the original price then it will take four years to lose 100% of the profits if the value doesn’t go up. You can lose all of your profits despite the value of the instrument being above the original purchase price.


7 posted on 05/03/2024 10:54:19 AM PDT by Ajnin (Don't be a pansy, embrace the fireball.)
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To: knighthawk

The first sentence in this article is poorly written. “...next year be paying over 50 percent of some of the profits when they sell off their assets to the government.”

It should read “...paying over 50 percent of some of the profits TO THE GOVERNMENT when they sell off their assets.”

The sentence as written says it applies when they sell off their assets to the government.


8 posted on 05/03/2024 10:54:29 AM PDT by Gnome1949
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To: knighthawk

Surprisingly, red Idaho is among them. But blue Washington is not.


9 posted on 05/03/2024 10:56:12 AM PDT by Angelino97
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To: knighthawk
For those of you who don't want to click on the Daily Fail's bloated, slogging website, you're welcome.


10 posted on 05/03/2024 10:57:44 AM PDT by Drew68
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To: Ajnin

The same gain would be taxed only once, not every year from now on lol.


11 posted on 05/03/2024 10:58:14 AM PDT by steve86 (Numquam accusatus, numquam ad curiam ibit, numquam ad carcerem™)
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To: rlmorel

I am also flabbergasted that your state is not in that group.


12 posted on 05/03/2024 11:04:18 AM PDT by linMcHlp
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To: steve86

Yeah that’s kind of crazy huh? Almost as crazy as being taxed on money you don’t even have yet.


13 posted on 05/03/2024 11:18:51 AM PDT by Ajnin (Don't be a pansy, embrace the fireball.)
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To: knighthawk

Don’t care except for iowa and Nebraska. I find it odd those two states are included. The rest deserve it.


14 posted on 05/03/2024 11:19:18 AM PDT by napscoordinator (DeSantis is a beast! Florida is the freest state in the country! )
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To: Drew68

Thank you.


15 posted on 05/03/2024 11:27:12 AM PDT by kiryandil (Democrat Party operatives! Attack Rudy to avenge the laptop!)
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To: rlmorel

It will be bad enough in every state.


16 posted on 05/03/2024 11:28:10 AM PDT by SaxxonWoods (Are you ready for Black Lives MAGA? It's coming.)
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To: Angelino97

Washington doesn’t have a state income tax. Washington makes up for it with local taxation. If this passes everyone will pay at least 44% and the states with state capital gains taxes will pay more. This is more centralizing of the tax base. It will kill off investing except for retirement accounts and the very rich. The risk won’t be viable for non-multi-millionaires under $10mm in net worth. 99% of the country will be cut out.


17 posted on 05/03/2024 11:32:59 AM PDT by SaxxonWoods (Are you ready for Black Lives MAGA? It's coming.)
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To: knighthawk

Unbelievable how evil our gov’t has become and how stupid voters are. Even to propose this?? And after doubling IRS agents, the same jokers get re-election.


18 posted on 05/03/2024 11:38:08 AM PDT by RushingWater (Thank God for no more mean tweets, it's worth 30% inflation. )
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To: SaxxonWoods

My damn state is independently going to raise new taxes on sales of homes, excise taxes on cars, etc.

These people suck.


19 posted on 05/03/2024 11:43:21 AM PDT by rlmorel (In Today's Democrat America, The $5 Dollar Bill is the New $1 Dollar Bill.)
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To: Drew68

Dang it, I was considering both Kansas and Nebraska as retirement locations. Both are off the books now.


20 posted on 05/03/2024 12:01:32 PM PDT by ducttape45 (Proverbs 14:34, "Righteousness exalteth a nation: but sin is a reproach to any people.")
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