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Four Demorcat tax changes with grave consequences
Posted on 9/10/20 at 9:51 am
Posted on 9/10/20 at 9:51 am
1. Potential reduction in the estate tax exemption
2. A potential reduction in the gift tax exemption and potential elimination of annual exclusion gifts
3. A repeal of step-up in basis
4. An increase in long-term capital gains tax
Add to this list removing 1031 exchanges and they're trying their best to wreck the economy.
LINK
2. A potential reduction in the gift tax exemption and potential elimination of annual exclusion gifts
3. A repeal of step-up in basis
4. An increase in long-term capital gains tax
Add to this list removing 1031 exchanges and they're trying their best to wreck the economy.
LINK
22
Posted on 9/10/20 at 9:52 am to Rex Feral
Democrats don't pay taxes.
Posted on 9/10/20 at 9:53 am to Rex Feral
Well, just because those parents worked and built something to leave to their kids... that stuff just isn't fair and we cannot have that... It is all about being fair...
Posted on 9/10/20 at 9:54 am to Rex Feral
You should add the 401k tax change to that list.
Posted on 9/10/20 at 9:55 am to saints5021
quote:
Democrats don't pay taxes.
They will when corporate/business taxes are increased. ( and so will everyone else....in addition to the ones mentioned above )
Posted on 9/10/20 at 9:56 am to Rex Feral
Why does the fed even need taxes? They already print what they want to use and don't really care about the consequences of that action. The only reason to tax is to reduce the money you have in your pocket.
Posted on 9/10/20 at 9:57 am to Rex Feral
Hey, leave us alone!! We're swatting at colorful feathers!!
This post was edited on 9/10/20 at 9:58 am
Posted on 9/10/20 at 9:58 am to Rex Feral
We've squeezed every penny of tax that we can out of you. Could you hurry up and die so we can get some more?
Posted on 9/10/20 at 10:03 am to Rex Feral
The 401k change will be the most important to 70% of voters.
Posted on 9/10/20 at 10:09 am to blowmeauburn
What are they proposing to change with the 401k tax exemption?
Posted on 9/10/20 at 10:26 am to RonLaFlamme
401K proposed changes
Biden-Harris propose to tax the plans at both contribution and distribution, and to offer a refundable tax credit to make up for the double taxation. The idea is justified on the basis of fairness, since avoiding tax at contribution time is worth only 12% to most middle-income workers, but 37% for the highest-income workers.
Biden-Harris propose to tax the plans at both contribution and distribution, and to offer a refundable tax credit to make up for the double taxation. The idea is justified on the basis of fairness, since avoiding tax at contribution time is worth only 12% to most middle-income workers, but 37% for the highest-income workers.
Therefore, if fairness is a consideration, what matters is not the worker’s marginal income tax rate at contribution time, it’s the difference between the rate at the time of contribution time and the rate at the time of distribution. If anyone is treated unfairly currently, it’s top quartile earners.
Biden-Harris propose to tax the plans at both contribution and distribution, and to offer a refundable tax credit to make up for the double taxation. The idea is justified on the basis of fairness, since avoiding tax at contribution time is worth only 12% to most middle-income workers, but 37% for the highest-income workers.
Biden-Harris propose to tax the plans at both contribution and distribution, and to offer a refundable tax credit to make up for the double taxation. The idea is justified on the basis of fairness, since avoiding tax at contribution time is worth only 12% to most middle-income workers, but 37% for the highest-income workers.
Therefore, if fairness is a consideration, what matters is not the worker’s marginal income tax rate at contribution time, it’s the difference between the rate at the time of contribution time and the rate at the time of distribution. If anyone is treated unfairly currently, it’s top quartile earners.
Posted on 9/10/20 at 10:29 am to Rex Feral
You forgot 401k tax benefit changes. Which would effectively raise anyone making over 60k's taxes when it comes to pretax contributions. All so those "less fortunate" can save more at the expense of your retirement
Posted on 9/10/20 at 10:34 am to Rex Feral
I wouldn't have a problem with this stuff if Democrats weren't so corrupt. We all know most of this will end up in political pockets.
Posted on 9/10/20 at 10:34 am to Rex Feral
Those assholes cant wait to reverse the SALT cap. Secret way to get the federal government to subsidize localities with high tax rates.
Posted on 9/10/20 at 10:36 am to saints5021
quote:Latoya Cantrell
Democrats don't pay taxes.
Posted on 9/10/20 at 10:48 am to Rex Feral
Those have huge implications if repealed. Hope the Dems know this country was founded on fighting oppressive taxation
Posted on 9/10/20 at 10:48 am to Landmass
quote:
reduce the money you have in your pocket.
Don't forget reinstating our commitment to the Paris Accord.
The cost of which, in terms of the purchase of carbon credits by our regional electrical companies, will be absorbed through an increase in our residential power bills and an increase in cost of goods manufactured in the United States.
This post was edited on 9/10/20 at 10:49 am
Posted on 9/10/20 at 11:01 am to keks tadpole
quote:
Don't forget reinstating our commitment to the Paris Accord.
Oh, frick that.
Posted on 9/10/20 at 11:03 am to Sooner5030
These aren't taxes. They are 100% targeted wealth redistribution.
Posted on 9/10/20 at 11:03 am to Rex Feral
The estate tax has always been criminal in my opinion. Should be removed completely.
This post was edited on 9/10/20 at 11:04 am
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