Reply to Harris tax plan - raising taxes on high earners

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Harris’s tax plan includes a tax on unrealized capital gains. That’s a huge tax hike on everyone with an IRA, 401k, or brokerage account. People who aren’t rich also have these accounts and will owe this new tax under her plan.[/quote]

This is only for people with $100 million in wealth, and even then only a subset of them: https://www.axios.com/2024/08/23/kamala-harris-unrealized-capital-gains-tax[/quote]

It won't stop there and it will begin to impact normal people. This threshold will get lower overtime and it will eventually be used to take money from almost everyone that is not broke. The income tax used to only apply to super rich people when it came out and now almost everyone pays it.  Also, the fact that the tax is explicitly tied to a specific level of wealth probably makes the tax unconstitutional at the federal level. Taxing unrealized gains is no necessarily unconstitutional, but an unrealized gain tax conditional on net worth is likely illegal. [/quote]

Trump and cronies have said that they will go after people that "illegally prosecuted him". It won't stop there. Over time, this will just expand to cover anyone and everyone that has ever posted anything negative about Trump. They will force social media companies to turn over records of prior posts and throw everyone in jail and torture them. 
Trump has also said he will stop illegal immigration. This 'threshold' will get lower over time and he will stop all immigration. He will also cancel immigrants who have become citizens and deport them after confiscating their property.
He doesn't have to worry about the constitution because the SC is stacked with his cronies.

See how it works both ways?

Reality is, it takes congress to pass such laws and the senate is not about to give away its power by dropping the filibuster and enabling these drastic tax changes. About 20% of this (esp. tax on high income/assets) MAY come to pass. Chill.[/quote]

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