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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]She supports a tax on unrealized capital gains.

[twitter]https://x.com/Andreafreedom76/status/1822293095460839636[/twitter]

Americans Overwhelmingly Reject Harris-Biden Unrealized Capital Gains Wealth Tax |

The 2025 Biden budget proposes to tax long-term capital gains and qualified dividends at ordinary income tax rates for taxable income above $1 million and tax unrealized capital gains at death above a $5 million exemption ($10 million for joint filers).  If this tax proposal went through, investors would flee the stock market and potentially create a stock market crash effecting even pensions of middle class Americans.  [/quote]

Whoa— not good for most investors. This is why the Democratic Party has been dubbed “tax and spend”  . No thank you! [/quote]

Exactly what percent of the American public do you believe has an over 1 million dollar income or estates over 10M for married couples?[/quote]

It doesn't matter.  Even if ONE person is impacted it is a very bad idea.

Once the government starts taxing people on money they have not received we are going down a dark road.  It may be only a few people now, but what will stop these progressive leaders from lowering the bar.  When they need more money to fund their progressive projects, it will be lowered to those making $400,000.  
It is a ludicrous idea and one that sane people should reject. [/quote]

So you think the current tax structure with all off the changes from the 1980s works better from the average person than it used to?[/quote]

What a red herring.  
We are talking about the insane ideal of taxing unrealized gains.  This has nothing to do with other changes to tax codes.  [/quote]

Why should any of us care about people who make 1 mil or have 10 mil in assets? We should be trying to reduce income inequality and pay for our government rather than crying about the wealthy. Can you explain why anyone (who has a normal income) should care about this?

[/quote]

Here's the difference.  Money in the "hands" of the wealthy benefits the economy in a healthy, positive, but responsible, way.  If a wealthy person puts her money in a bank, the bank loans it it to somebody who can buy a home, start a business, etc., with market driven interest rates paid by the borrower to the bank, and from the bank to the depositor.   If a rich person's money is invested in stocks and mutual funds, those companies use the money to grow, create jobs, and so forth.  Everyone in the chain is accountable to use the money responsibly.  But if money is taken by the government by way of taxes, there is no way to track the legitimate uses from the waste and the politically motivated uses.   [/quote]

Bush41 called it Voodoo Economics and yet it has stuck around for 40 years to the detriment of the US economy, the debt and the deficit. It is so ironic that Trump calls for "making American great again" and yet the tax rates when "America was great" would mean the PP above with the $10M company would be paying like 70% in taxes instead of the 36% today. Trickle-down doesn't work. It isn't a thing. And the income inequality we have today rivals the worst of Feudal Europe. Our country is stronger with a bigger middle class. That is just facts.[/quote]

Why didn’t Dem presidents after Reagan fix it?

Dems talk about the middle class each election but don’t really do anything. This is why they lost many working class and Rust Belt voters to Trump[/quote]

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