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Started By
Message
re: Morgan Stanley: "The Biden Tax Proposal: Answers to 5 Top Questions"
Posted on 4/27/22 at 4:11 pm to MrLSU
Posted on 4/27/22 at 4:11 pm to MrLSU
quote:
Bend over Red Rover!
1. Will my federal income and capital-gains tax rates change?
The proposed tax plan would restore the top marginal income-tax rate to 39.6%, the same rate before the Tax Cuts and Jobs Act of 2017 cut it to 37%.
[img]2. What is the proposed change to federal capital-gains taxes on inherited assets?[/img]
The Biden proposal would treat death as a recognition event that would trigger income tax on any appreciated assets owned by the decedent at death. The Biden proposal includes a capital gain exemption of $1 million per person, or $2 million per couple. That exemption would be in addition to the existing exemptions of $250,000 per person or $500,000 per couple on the sale of a principal residence.
3. Would the proposed reforms limit how much wealth I can give away free of federal estate and gift taxes?
Unless Congress makes changes to existing law, after 2025, the exemption will revert back to a $5 million exemption per person (adjusted for inflation).
4. Could tax increases affect the economy and the stock market?
In short, higher federal capital-gains taxes have not directly translated into negative or positive equity returns.
5. Could tax increases on corporations hurt their earnings?
President Biden has said he would like to raise the federal corporate tax rate from its current rate of 21% to 28%.1 According to the Morgan Stanley and Co. Research team, raising the corporate income tax to 28% could lead to a 6% decline in earnings for the S&P 500 in 2022. If the rate were raised to just 25%, the projected earnings decline would be 4%.
Morgan Stanley
Yay, so we're gonna get boned even more. Sweet!
0
Posted on 4/27/22 at 4:11 pm to The Spleen
quote:
I got you riled up, Jack!
Probably the best accomplishment you'll ever have in life.
Posted on 4/27/22 at 4:12 pm to gorillacoco
quote:
But if there’s any part of this I wouldn’t complain about it’s the inheritance provision. It impedes the development of an aristocracy via inheritance, and only applies to people inheriting literally millions of dollars that they didn’t actually work for. I’ll save my tears for someone besides the trust fund babies.
So you're cool with the Govt taking money from people just because they have more than you?
Posted on 4/27/22 at 4:12 pm to USMCguy121
quote:
pulling up the ladder
Not sure what you mean here. The DC folks making millions from their own corrupt dealings are in the same boat w everyone else.
Posted on 4/27/22 at 4:14 pm to jchamil
quote:
taking money from people
Dead guys maybe
Posted on 4/27/22 at 4:15 pm to gorillacoco
quote:
Dead guys maybe
And that's ok why? How many times does the same dollar need to be taxed by people that inevitably waste it on nonsense?
Posted on 4/27/22 at 4:15 pm to gorillacoco
quote:
Dead guys maybe
Actually their children. That's ok with you though because they have more money than you? It's just not fair for others to have money
Posted on 4/27/22 at 4:15 pm to Pettifogger
quote:
In all honesty, I'd love to hear the basis for your support for a 40% income tax.
It's either he doesn't pay taxes or is so rich he doesn't care but I can guarantee you he has never voluntarily paid 1 cent more than required.
Posted on 4/27/22 at 4:18 pm to jchamil
quote:
Actually their children
It’s not theirs until the dead guy dies. I’m supposed to boohoo for someone because they couldn’t get more than a million bucks tax free that they didn’t work for themselves?
Posted on 4/27/22 at 4:19 pm to gorillacoco
quote:
It’s not theirs until the dead guy dies. I’m supposed to boohoo for someone because they couldn’t get more than a million bucks tax free that they didn’t work for themselves?
Posted on 4/27/22 at 4:20 pm to cahoots
quote:
You're making a lot of assumptions here. I think Democrats and republicans are very corporatist. Our political system is set up that way.
I just think it's funny that you have somehow decided that this is much more of left wing thing than a right wing one when republicans have been deep throating corporate america for decades
Republicans aren't in a position to upset their donors so all this "you are the corporatist ones lulz" is just unproductive drivel
It is simply that corporations hire people and Republicans pretty much want everyone to work and pay taxes unlike the Democrats who'd prefer everyone suck at the tit and be good little sheep to keep them in office.
Posted on 4/27/22 at 4:20 pm to gorillacoco
quote:
It’s not theirs until the dead guy dies. I’m supposed to boohoo for someone because they couldn’t get more than a million bucks tax free that they didn’t work for themselves?
How do you know they didn't work at a family business helping increase the dead parent's wealth?
Thanks for answering that it is pure jealousy of wealthy individuals driving your reasoning here though
Posted on 4/27/22 at 4:21 pm to jchamil
It took 4 pages before the jealousy card was played. Impressive constraint.
Posted on 4/27/22 at 4:22 pm to The Spleen
quote:
It took 4 pages before the jealousy card was played. Impressive constraint.
It took 4 pages (well he showed up on page 3) for a whiny little bitch to show up mad he hasn't made anything of himself and won't have shite to pass down to his kids.
This post was edited on 4/27/22 at 4:24 pm
Posted on 4/27/22 at 4:23 pm to LNCHBOX
Jesus loves you, LNCHBOX.
Posted on 4/27/22 at 4:24 pm to LNCHBOX
quote:
It took 4 pages (well he showed up on page 3) for a whiny little bitch to show up mad he hasn't made anything of himself and won't have shite to pass down to his kids.
Not true. He had a conversation with his kids about gay sex and pronouns. So, there is that.
Posted on 4/27/22 at 4:25 pm to The Spleen
you’re a POS Spleen.
Posted on 4/27/22 at 4:26 pm to The Spleen
quote:
It took 4 pages before the jealousy card was played. Impressive constraint.
Jealousy card? Ok
He laid out his jealousy, I didn't have to play any card.
I also didn't make any comments until this page, so I guess I have no restraint
Posted on 4/27/22 at 4:28 pm to The Spleen
quote:What the frick Spleen! Making death a taxable event, how can you blow past shite like that?
Oh yay! We haven’t had a thread in a while where middle class schmucks defend policies that disproportionately benefit the wealthy!
I die and my kids have to pay death taxes on my estate even after I worked my arse off paying taxes the whole time as I accumulated that wealth so I could leave them a few million inheritance?
Posted on 4/27/22 at 4:29 pm to jchamil
quote:
Thanks for answering that it is pure jealousy of wealthy individuals driving your reasoning here though
That’s what the guys defending the river boat pilots say too.
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