Reply to Kamala Harris for President

Forum Index » Political Discussion

Reply to "Kamala Harris for President"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][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]

I have over $10M and I care. I created a successful IT business with my own and borrowed funds that now employs over 163 people. My skilled employees enjoy excellent salaries, healthcare benefits that my company pays over half the premiums for, 401K matching so they can eventually retire with a good next egg, business class travel, and other benefits. My company provides a service that is in demand. I took the risk....I should reap the reward.[/quote]

We sound similar. Except we employ more people, and have net worth quite a bit north of $10M. We came here as poor immigrants, and have worked our tail off and utilized the resources offered by the country to get to where we are. [b]Happy to pay back, once we get to $100M. [/b]We can't use up $100M in our lifetime. [/quote]

I, too, would love to wait to pay taxes until I reach 100m net worth.  Who wouldn’t?  Unfortunately this is called greed.  You can delude yourself however you want but the rest of us don’t have to indulge you.

Congratulations on your success, no doubt facilitated by a government and a middle class that supports you.  Now you get to pay back!  Not on your personal timetable.[/quote]

I think you misunderstood. We're obviously fine with the tax structure, and have been paying in. We're fine with the ADDITIONAL taxes once we get to $100M. I think the Republicans have done a great job of selling the idea to the masses that the tax structure that places more tax burden on the extraordinarily wealthy is somehow unfair, because it could be them some day.[/quote]

100 percent this.

Success should be rewarded, absolutely. We live in a capitalist country. But our government invests in things like infrastructure so telecommunications and transportation can happen. Businesses benefit disproportionately from those investments. Government educates the workforce so employers can hire people with a baseline of skills and knowledge. Government funds a state department so businesses can conduct commerce in other countries. Government develops standards so the physical plug for your EV will work in every car, for example. Businesses should be paying their fair share for the opportunities that government standardizes and wealthy individuals should be paying their fair share for the opportunities the USA has afforded them to become successful. That isn't authoritarian.[/quote]

The problem with posts like this is that they treat businesses like people. Businesses don't pay taxes. Their employees and customers do. [/quote]

The businesses should be paying taxes. That is the point.[/quote]

No you missed the point. If you raise corporate taxes, business will just pass those increased taxes through to the price of their products and services and decrease employee benefits and pay. If you raise corporate taxes enough where they are no longer competitive in a global market, they will pick up and move somewhere else taking their jobs with them. [/quote]

This is an article of faith among corporate apologists, but the real world is more complicated. Reducing compensation for executives, dividends to shareholders, and stock buybacks are all cost cutting measures that could be implemented in response rather than raise prices. If they are in a competitive market, those options may be more appealing than raising prices. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics