Author Topic: 10 Biden tax plans that will sail through a Democratic senate  (Read 552 times)

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Offline cato potatoe

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10 Biden tax plans that will sail through a Democratic senate
« on: January 07, 2021, 04:13:13 pm »
Scroll down to the bottom for details.  High earners will experience a doubling of their capital gains tax, a massive FICA tax increase, and a cap on itemized deductions.  The capital gains provision will quash foreign capital investment in the US.  Many other taxpayers will suffer from tax increases on real estate income and inherited assets.  Meanwhile, high tax states will be subsidized, as will green energy projects, and having babies you can't support.  The housing market will be inflated through government intervention.

https://finance.yahoo.com/m/62f1221c-1d18-3df1-b499-331d3a968ff9/10-biden-tax-plans-that-will.html
« Last Edit: January 07, 2021, 04:14:35 pm by cato potatoe »

Offline Weird Tolkienish Figure

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Re: 10 Biden tax plans that will sail through a Democratic senate
« Reply #1 on: January 07, 2021, 04:15:01 pm »
Scroll down to the bottom for details.  High earners will experience a doubling of their capital gains tax, a massive FICA tax increase, and a cap on itemized deductions.  The capital gains provision will quash foreign capital investment in the US.  Many other taxpayers will suffer from tax increases on real estate income and inherited assets.  Meanwhile, high tax states will be subsidized, as will green energy projects, and having babies you can't support.  The housing market will be inflated through government intervention.

https://finance.yahoo.com/m/62f1221c-1d18-3df1-b499-331d3a968ff9/10-biden-tax-plans-that-will.html

Does Joe Manchin have a record of stopping any of this stuff?

Offline cato potatoe

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Re: 10 Biden tax plans that will sail through a Democratic senate
« Reply #2 on: January 07, 2021, 04:38:01 pm »
Does Joe Manchin have a record of stopping any of this stuff?

His record is poor in general.  He supported the Obama era tax increases, and opposed Trump's tax cuts.  Perhaps he will moderate some of the green energy proposals and keep some tax cuts for petroleum companies.

Online libertybele

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Re: 10 Biden tax plans that will sail through a Democratic senate
« Reply #3 on: January 07, 2021, 04:47:06 pm »
Scroll down to the bottom for details.  High earners will experience a doubling of their capital gains tax, a massive FICA tax increase, and a cap on itemized deductions.  The capital gains provision will quash foreign capital investment in the US.  Many other taxpayers will suffer from tax increases on real estate income and inherited assets.  Meanwhile, high tax states will be subsidized, as will green energy projects, and having babies you can't support.  The housing market will be inflated through government intervention.

https://finance.yahoo.com/m/62f1221c-1d18-3df1-b499-331d3a968ff9/10-biden-tax-plans-that-will.html

Well, perhaps one positive is that if the high tax states are subsidized then the liberals will stay put and won't be moving into more conservative states or areas.  Fine by me.

It's going to be a colossal cluster.  We will see Carter era inflation, prices will skyrocket as well as unemployment. We are going to be taxed to death. Businesses will again be shuttered because of COVID.  Be prepared as you can be and pray for the best.  Every man is now for himself.  I'll help those who I know to be conservative when the time comes but I'll be danged if I help any liberal crawl out of the hole that they dug us in.
I Believe in the United States of America as a Government of the people, by the people, for the people; whose just powers are derived from the consent of the governed; a democracy in a republic; a sovereign nation of many sovereign states; a perfect union one and inseparable; established upon those principles of freedom, equality, justice and humanity for which American patriots sacrificed their lives and fortunes.  I therefore believe it is my duty to my country to love it; to support its Constitution; to obey its laws to respect its flag; and to defend it against all enemies.

Offline catfish1957

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Re: 10 Biden tax plans that will sail through a Democratic senate
« Reply #4 on: January 07, 2021, 04:47:15 pm »
Wowza...  details the voting population was missing in Novermber (exception so called $400k income cap for incremental tax increase rate)

This is just the first volley folks.  Again, aimed at seniors and savers. 
« Last Edit: January 07, 2021, 04:49:17 pm by catfish1957 »
I display the Confederate Battle Flag in honor of my great great great grandfathers who spilled blood at Wilson's Creek and Shiloh.  5 others served in the WBTS with honor too.

Offline Weird Tolkienish Figure

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Re: 10 Biden tax plans that will sail through a Democratic senate
« Reply #5 on: January 07, 2021, 04:51:52 pm »
His record is poor in general.  He supported the Obama era tax increases, and opposed Trump's tax cuts.  Perhaps he will moderate some of the green energy proposals and keep some tax cuts for petroleum companies.

Yikes... buckle up.