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Wrong. The US government does not tax my property. The county taxes my property based on land/home value. Very different than the Federal government. Additionally, they tax based on a percentage of current value. The Feds would tax on year to year appreciation in addition to the county tax. I'm also against the county property tax for the record, but that's another topic. I hope that you are being an honest broker in this debate as well. First, taxes have only increased in scope and percentage throughout history. When Federal income tax started, the brackets were 3% and 5%. If America accepts this new tax as legitimate, you and I will end up directly paying it in the future. This is only a trial balloon. Second, the Moore vs US case (as I understand it from reading the brief) is about a tax that virtually everyone pays if they have foreign investments that reinvests profits rather than pay distributions, so your >$100M comment is out to lunch. Perhaps the new Biden tax would only be on >$100M, but don't pretend that's the only attack on unrealized gains. Third, much like restrictions on free speech, taxes on anyone affect taxes on everyone. Saying that they only tax the wealthy is a class-warfare smoke screen. Much like 'companies need to pay their fair share of taxes' as if companies are individual people that have somehow skated out on not paying taxes. Raise the taxes on the rich for investing their wealth and they will have less wealth to invest. It will all rolling downhill. -
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The US gov already does tax unrealized gains with home valuations and property taxes. Is that unconstitutional or unethical? What do you guys propose to do about the ultra wealthy who never cash in equity and take cash loans on their unrealized net worth? It is clearly tax evasion that is harmful to the US gov and not in line with the intent of the tax system. Also, I hope you are being honest brokers in this debate and are aware that the changes only apply to net worths >$100M. It is likely literally never going to directly impact any of you, the middle class, the upper professional class, or anyone in your family. It is aimed at only the ultra wealthy. Not to mention, the proposal makes these taxes prepayments for future gains. If they have future realized gains, they get to deduct previous payments. https://taxfoundation.org/blog/biden-billionaire-tax-unrealized-capital-gains/ Now explain: - How is this bad for the working class (my definition includes everyone from McDonalds to Anesthesiologists making $1M a year). People that have to work to live. - What are the negatives to the economy? You won’t get trickled down on? - What is your solution? If you don’t have a solution, why is the current state better morally or ethically? -
Hahahahah. I just pissed myself. Break, Break. In all seriousness, I can see why people have gross differences between what they beleive our government is up to. To trust our government would mean I learned nothing during my lifetime. I dont believe our federal government is acting in the best interest for people like me (100% Irish American, upper middle class (in CA) and a combat veteran) They seem to be doing the excact opposite. The war with Russia, woke ideals, blatant racism towards certain groups (Jews and whites). The funny thing is an Irish Catholic has little in common with Italians, Germans, Polish and whatever other whites that live here. I never ate pasta at home. The government is using Ukraine to make money. Prove me wrong. Just like all of the other wars since Nam. While I don't support Russia (except for the hot chicks there) we invaded Iraq for lies as well. Just like Russia did to Ukraine. We shouldn't be allowed to just forget about OIF. We were in the wrong as well. America has ruined its reputation as an ethical state on the world stage. We are as corrupt as we've ever been. How many congressmen are millionaires? I don't like anyone in Washington DC that moved there because they won an election. They're full of shit. That being said, Russia is worse than the U.S. in the ethics department. We shouldn't spend all of our energy hating on each other, we need to direct that towards getting rid of all our corrupt politicians. That's the real threat to this country, not Russia. Russia sucks
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