Reply to biden pushing for new capital gains tax

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Capital gains are income. Why shouldn’t income from investments be taxed at the same rate as earned income from salary and wages? There is no good reason except that capitalists own every level of government and everything else. [/quote]

Capital gains on a primary residence are many people’s ONLY investment. So taxing that higher than someone’s passive income on the stock market/other investments is just another way that the UMC bear the burden for everyone.

UMC would be spending that on cars or furniture or going on vacations but truly wealthy people just stockpile it because they can live fabulously enough just on their income. It makes more sense to tax people who own more than one home or who are buying yachts.

It’s always been reprehensible that earned income is taxed higher and why the rich get richer and everyone else struggle to get ahead. I’m all for taxes, they pay for civilization, but it makes no sense that in the past 20 years our income has doubled and our lifestyle hasn’t improved.  We paid $150,000 in taxes last year and I 100% would have spent that on remodeling the outdated house we bought last year (at 7%) if I could have.  Spending is good for the economy.  Let us spend. Let the Uber wealthy with their multiple homes and RE investors who are responsible for the raising prices pay more.  [/quote]

Do you understand this?

[youtube]https://www.youtube.com/watch?v=TZ8QvafmUcw[/youtube][/quote]

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