43% tax rate on capital gains

[America 1st]

 

[Oler Ted]

RIP crypto

 

[Oler Ted]

Lol wait it says for the wealthy. So there will be a sliding scale capital gains tax? Brilliant

 

[Jayhacker]

Biden would fk up a wet dream.

 

[PawPower1981]

Doubled the tax... I hope this hurts more Biden voters than trump patriots

 

[BigBucnNole]

Just for a little perspective and how that compares to other civilized nations:

 

[Jtrain80]

I cant breathe!

 

[America 1st]

Just for a little perspective and how that compares to other civilized nations:

So we'd have the highest in the civilized world?

 

[ttyh]

The intentional destruction of our great nation is happening even faster than any of us could have ever predicted. And most of us predicted the slope would be steep and slippery.

 

[BigBucnNole]

So we'd have the highest in the civilized world?

Looks like it. May cause some capital flight issues, or a decline in capital coming here at least. Could see it help redirect cash to the U.K. and the markets there.

Sounds to me like a Janet Yellen idea and they see some real structural inflation coming down the pipe. Maybe even in the face of this covid bounce back. Soak up excess liquidity while simultaneously providing a huge jobs program through infrastructure to push wealth down the ladder. It seems like the government institutions are beginning to identify the underlying problems at least.

Not going to fix much imho when the problem is that tech pays better and there isn’t a sufficient education system to retool the workforce. It ain’t 1938.

 

[America 1st]

Doubled the tax... I hope this hurts more Biden voters than trump patriots

It will hurt coastal states much more than the fly overs.

People in the middle don't earn like that generally.

Looks like it. May cause some capital flight issues, or a decline in capital coming here at least. Could see it help redirect cash to the U.K. and the markets there.

Sounds to me like a Janet Yellen idea and they see some real structural inflation coming down the pipe. Maybe even in the face of this covid bounce back. Soak up excess liquidity while simultaneously providing a huge jobs program through infrastructure to push wealth down the ladder. It seems like the government institutions are beginning to identify the underlying problems at least.

Not going to fix much imho when the problem is that tech pays better and there isn’t a sufficient education system to retool the workforce. It ain’t 1938.

Yeah increasing taxes on the top tier was a given with all the printing.

It really just shows where they are comfortable in terms of economic expansion more than anything. Slow growth and shitty paying jobs is completely fine with Puddin

 

[CBradSmith]

How's that gonna affect one off windfalls, like selling a house that has appreciated greatly, but in every other year you're a solid middle class earner.

Sounds more like it will hurt the type described above than the truly wealthy, who maintain their ownership positions and never give the wealth a chance to be taxed.

 

[CBradSmith]

Dp

 

[hmt5000]

85% of wallstreet money went to Biden during election. I'll bet that law gets written in a way that the really big guys get to skate while the avg investor gets pummeled for being smart and responsible.

 

[America 1st]

85% of wallstreet money went to Biden during election. I'll bet that law gets written in a way that the really big guys get to skate while the avg investor gets pummeled for being smart and responsible.

Corps are the big winner during Puddin.

There is a reason The Founders feared corporations in the same way they feared tyrannical government.

 

[GarnetPild]

The intentional destruction of our great nation is happening even faster than any of us could have ever predicted. And most of us predicted the slope would be steep and slippery.

Correct...and anyone at this point who doesn't think it is absolutely intentional, is not paying attention.

 

[BigBucnNole]

85% of wallstreet money went to Biden during election. I'll bet that law gets written in a way that the really big guys get to skate while the avg investor gets pummeled for being smart and responsible.

There is two gains rates. Short term is tied to your income bracket, and then this proposal would affect long term rates. I think the way they avoid it is to buy and sell assets more frequently to get the short term rate at the new 25% bracket. Then... you can push that rate further down with net operating losses.

 

[44Bobcats55]

What really is not factored is inflation. If you bought a an asset in 2001 for 1000 it has to be worth 1500 in 2021 just to break even. Capital gains need to be indexed to inflation. Cumulative inflation over the past 20 years is just shy of 50%

 

[skramer100]

China will be the big winner. This is a move to make the Shanghai market the number one destination. You have to respect what they have done in 30 years. They are going to eliminate the most dominate superpower the world has ever seen and take total control over the world without firing a shot. It really is impressive. We could study it in 50 years but that won't be allowed. Dark Times coming in the future.