Higher capital gains taxes tops out at 44% Now?
Bernie and Elizabeth must be putting something in his tea cup! 😎
serf
https://www.cnbc.com/2021/04/21/stock-market-futures-open-to-close-news.html
Bloomberg News reported Thursday afternoon that Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans. The proposal would hike the capital gains rate to 39.6% for those earning $1 million or more, up from 20% currently, according to Bloomberg News, citing people familiar with the matter. Reuters and the New York Times later matched the headlines.
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Those people are idiots.
The vast majority of countries in the world tax personal cap gains around 15-25% max. Corporate cap gains are usually taxes at the regular corporate rate (if there even is one, many countries do not tax corporations separately).
Capital gains tax (CGT) rates
Description of Capital gains tax CGT rates0 -
If this comes to pass then perhaps some of those wealthy contributors to the democrats will finally wake up. Seems like the dems are biting the hands that feed them. Bob
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The sad thing is that all they are doing is forcing corporations to either raise prices or to flee the country to a place with lower rates. 'Corporations' don't 'pay' taxes, consumers do.
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NeoBlackdog: 31516581199771/comments/31516598444315
The sad thing is that all they are doing is forcing corporations to either raise prices or to flee the country to a place with lower rates. 'Corporations' don't 'pay' taxes, consumers do.
bingo.
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You can be certain their rich billionaire handlers wont pay a dime.
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chiefr: 31516581199771/comments/31516605482011
You can be certain their rich billionaire handlers wont pay a dime.
Exactly, big mouth Warren Buffet likes to say because of the tax rules he pays taxes at a lower rate than his secretary. But he is never in front of Congress asking them to raise his taxes.
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How this is reported in interesting. It looks like Brain-dead's handlers are simply pegging Capital Gains at the same rate as the planned increase in personal income tax rates. If this is the case, I do not have a problem with it. No reason someone investing his money is paying less tax on his income than someone who is investing his time.
While I believe the top rate to be counter-productive and damaging to the economy, the best solution would be to lower the planned increase in the personal rate which will bring down the planned increase in the capital gains rate.
While there are valid arguments on both sides of the debate, I have always had a problem with someone who earns $ 5,000,000.00 per year in capital gains paying a lower marginal rate than someone working 100 hours per week earning $ 400,000.00 per year.
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Don McManus: 31516581199771/comments/31516594168475
How this is reported in interesting. It looks like Brain-dead's handlers are simply pegging Capital Gains at the same rate as the planned increase in personal income tax rates. If this is the case, I do not have a problem with it. No reason someone investing his money is paying less tax on his income than someone who is investing his time.
While I believe the top rate to be counter-productive and damaging to the economy, the best solution would be to lower the planned increase in the personal rate which will bring down the planned increase in the capital gains rate.
While there are valid arguments on both sides of the debate, I have always had a problem with someone who earns $ 5,000,000.00 per year in capital gains paying a lower marginal rate than someone working 100 hours per week earning $ 400,000.00 per year.
Thats the whole problem. Their billionaire masters are not writing the tax laws, but they are certainly telling DEMOCRATs what to put in the laws they write.
What this equates to is the 400K earner and the rest of us are the ones paying their taxes. Trump the businessman tried to fix this inequity and was partially successful. Democrats campaigned on reversing Trump and GOPs 2017 tax cuts.
Bidet and the TAXocrats want to bring us back to Clinton tax era and corrupt filthy main stream media is telling us how great Biden is because he is finally taxing the hell out of rich which is not true.
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