General Category > Economy/Business
Biden Calls for Record-High Tax Rate, Just a Few Points Shy of 50%
Bigun:
--- Quote from: rangerrebew on April 26, 2024, 01:42:40 pm ---He's doing everything possible to destroy the America I served in Viet Nam for. :reaper:
--- End quote ---
:yowsa: Welcome home brother!
DefiantMassRINO:
Drago:
--- Quote from: Hoodat on April 26, 2024, 02:05:42 pm ---It won't be a record high.
--- End quote ---
Perhaps you are thinking of the income tax rate? (That was higher than 44% supposedly, but nobody paid that rate...too many loopholes/deductions).
A Cap Gains rate of 44% would be a record high...see:
https://www.wolterskluwer.com/en/expert-insights/whole-ball-of-tax-historical-capital-gains-rates
Plus Biden's handlers are thinking about an "Unrealized Capitol Gains" tax...your house worth more than you paid for it...you own the gubberment the Cap Gains tax. I am sure the progressives would exempt "non-rich" homeowners, but you get the idea.
Hoodat:
--- Quote from: Drago on April 28, 2024, 03:51:07 am ---Perhaps you are thinking of the income tax rate? (That was higher than 44% supposedly, but nobody paid that rate...too many loopholes/deductions).
A Cap Gains rate of 44% would be a record high...see:
https://www.wolterskluwer.com/en/expert-insights/whole-ball-of-tax-historical-capital-gains-rates
Plus Biden's handlers are thinking about an "Unrealized Capitol Gains" tax...your house worth more than you paid for it...you own the gubberment the Cap Gains tax. I am sure the progressives would exempt "non-rich" homeowners, but you get the idea.
--- End quote ---
Oops. Sorry, I missed that. A capital gains tax rate of 44% would be a disaster. Can you imagine a retiree selling their house and settling in a retirement community rental? Just like that, 44% of that equity they worked all their life for would be confiscated.
Bigun:
The progressive income tax is the greatest evil ever imposed on allegedly FREE people.
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