Posted on 03/08/2023 7:08:56 AM PST by ChicagoConservative27
“array of tax increases on wealthy individuals and corporations”
Do you have a pulse? Do you do any work? Well, then, do I have good news for you! Joe says you are WEALTHY!
With 10% going back into the big guy’s pockets no doubt.
What is I have an art, coin, stamp, car or other collection that gains in ‘value’ over the years?...............
“unrealized gains of liquid assets such as stocks.”
We all know why that is unworkable. Suppose your asset doubles and you pay a HUGE tax on that phantom gain. Then the asset goes underwater and you have ZERO net gain but the GD government still has your tax money.
Does the government refund you the tax you paid on that phantom gain?
Speaks to my second point; corporate taxes are paid by corporate customers, most of whom are "middle class".
The marxists aren't stupid, they're evil.
Tax hikes have already been implemented by the Biden administration, and they’ve been hurting the American people for the last 2 years.
Inflation is a tax hike, indirectly.
When people have to pay more for everything they buy, the seller or service owner has to collect taxes on the higher prices being paid. So, the consumer not only is paying for the higher prices of goods and services, but they also are paying higher amounts for the taxes collected. . Everybody is affected by the higher prices and higher taxes; poor, well-off and rich.
When prices go up from inflation, salaries also go up, and business owners will be passing on those higher costs to their customers, which means, everybody.
And, the BS that Biden and democrats talk about, that being that, nobody below $400,000 income will be affected by the new taxes, is that BS and everybody will be affected and will be paying those higher taxes, one way or another. There is no way that the little guy wont be affected by new higher taxes,since, whatever the taxes, they will end up getting passed on to all consumers via the higher prices for goods and services.
And, when you take money away from the investment class or the rich, there will be less money available for them to invest, which means fewer jobs across the economy.
Socialists have no idea about how their decisions affect the economy and everybody in it.
Tax and spend.
Bovine excrement. Take it out of what you plan to send to Ukraine before you demand another dime from me.
This is a pernicious and evil initiative that will crater the stock market.
Do politicians ever consider that lower spending also cuts the deficit? How much sense does it make to increase taxes on the wealthy? They create jobs and expand economic growth and enhance opportunity. The top 10% income earners pay 72% of total IRS collections while the bottom 51% pay no Federal taxes. I favor a flat tax of 17% on everyone. The Tax Code would be reduced to 1 sentence: Add up your income and send 17% to the IRS. You could file your return on a postcard.
Don't forget, if you leave the US by just moving, you still have to pay income tax, although you still have a deduction of something like 85K for living abroad.
If you renounce your citizenship, you have to pay a mark to market capital gains exit tax, which might be quite high, althought it's a one time hit to wealth.
AFAIK, these are INCOME tax proposals. Although, a wealth tax proposal wouldn't surprise me. Lizzy Warren is on record as wanting one.
What a moron
************
The “moron” is systematically dismantling this once great country. Just saying.
No his handlers are.
The operative word is proposed
The President knows very well that there is Congressional grid lock and he that can do nothing about it. He makes press releases in attempt to be doing something.
I lost $300K last year on paper liquid assets. So I get to write that off?
What's more is that once you actually do sell and realize some sort of gain, what portion of that gain would be taxable? All of it (again!)? Some of it? How would that be calculated?
This budget idea is so bad, the document should just be marked as 'dead on arrival'... it needs to be cremated immediately.
“The Tax Code would be reduced to 1 sentence: Add up your income and send 17% to the IRS. You could file your return on a postcard.”
*************
Simplicity is the enemy of government. The more complicated the better it is for them and the empires they create. The more red tape, taxes and regulations, the more they can control us. The point is to make the system work for them.
Add up your income and send 17% to the IRS. You could file your return on a postcard.
"Biden set to unveil more than $2 trillion in tax hikes in budget"
FR: Never Accept the Premise of Your Opponent’s Argument
What's worse? Puppet Biden's more than $2 trillion in tax hikes, or "power of the purse," House majority so-called "MAGA Republicans" who don't seem to be speaking up about unconstitutional federal taxes, taxes that the very corrupt, post-17th Amendment ratification Congress cannot reasonably justify under its constitutional Article I, Section 8-limited powers?
"Congress is not empowered to tax for those purposes which are within the exclusive province of the States." —Justice John Marshall, Gibbons v. Ogden, 1824.
“If the tax be not proposed for the common defence, or general welfare, but for other objects, wholly extraneous, (as for instance, for propagating Mahometanism among the Turks, or giving aids and subsidies to a foreign nation, to build palaces for its kings, or erect monuments to its heroes,) it would be wholly indefensible upon constitutional principles [emphases added].” — Justice Joseph Story, Commentaries on the Constitution 2 (1833).
”Simply this, that the care of the property, the liberty, and the life of the citizen, under the solemn sanction of an oath imposed by your Constitution, is in the States and not in the federal government [emphases added]. I have sought to effect no change in that respect in the Constitution of the country.” —John Bingham, Congressional. Globe. 1866, page 1292 (see top half of third column)
Pelosi: "We have to pass the bill so that you can find out what is in it." (non-FR; 6 sec.)
“Cherish, therefore, the spirit of our people, and keep alive their attention. If once they become inattentive to the public affairs, you and I, and Congress and Assemblies, judges and governors, shall all become wolves [emphasis added]. It seems to be the law of our general nature.” - Thomas Jefferson (Letter to Edward Carrington January 16, 1787)
Trump's primarying of state and federal RINOs in 2022 was hopefully just for practice. Trump needs to do another round of primaryiing RINOs in 2024 imo.
Patriots, the bottom line is this imo. What is your threshold of “pain” for peacefully stopping unconstitutionally big state and federal governments controlled by bully, constitutionally undefined political parties, from oppressing the people under their boots?
The inevitable remedy for ongoing, post-17A ratification, corrupt political party treason (imo)...
All MAGA patriots need to wake up their RINO federal and state lawmakers by making the following clear to them.
If they don’t publicly support either a resolution, or a Constitutional Convention, to effectively "secede" ALL the states from the unconstitutionally big federal government by amending the Constitution to repeal the 16th (direct taxes) and 17th (popular voting for federal senators) Amendments (16&17A), doing so before the primary elections in 2024, that YOU will primary them.
If the proposed amendment was limited strictly to repealing 16&17A, relatively little or ideally no discussion would be needed before ratification of the amendment imo.
With 16&17A out of the way, my hope is that Trump 47 becomes the FIRST president of a truly constitutionally limited power federal government.
In the meanwhile, I'm not holding my breath for significant MAGA legislation to appear in the first 100 days of new term for what may still prove to be another RINO-controlled House.
Again, Trump will hopefully do another round of primarying RINOs for 2024 elections.
Since wait-staff and anyone with more than $600 has been redefined as rich . . . guess what?
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