Bidens billionaire tax

[Crazyhole]

It honestly didn't sound like a big deal right up to the "unrealized capital gains" part. Get the pink sheets ready.

 

[goodknightfl]

I want a kick back tax for big guys getting foreign $$ under the table. Hell he can even name the bill for himself. the Biden tax.

 

[Crazyhole]

Endgame this one out: if you have to pay tax on something you haven't even made yet just because you're already super rich, what do you do? John Galt.

 

[sk8knight]

Endgame this one out: if you have to pay tax on something you haven't even made yet just because you're already super rich, what do you do? John Galt.

I’ll play, you divest right freaking now and offshore that money. Of course, we’re all going to pay when these billionaires (100 millionaires) dump their stock all at the same time.

 

[Crazyhole]

I’ll play, you divest right freaking now and offshore that money. Of course, we’re all going to pay when these billionaires (100 millionaires) dump their stock all at the same time.

Go to a more secure currency maybe? One that is backed by commodities or production. Can't really invest in anything American owned or licensed because you'll get NIC'd on the backside so you just totally divest and go elsewhere?

 

[sk8knight]

Go to a more secure currency maybe? One that is backed by commodities or production. Can't really invest in anything American owned or licensed because you'll get NIC'd on the backside so you just totally divest and go elsewhere?

The people with all the resources will find a way to mitigate their exposure. Then when the government doesn’t get that big windfall but has opened the window to this type of action, what comes next?

 

[Crazyhole]

The people with all the resources will find a way to mitigate their exposure. Then when the government doesn’t get that big windfall but has opened the window to this type of action, what comes next?

Go to the next rung down and make it illegal to take intangible assets out of the country. Then, nationalize tangible assets.

 

[sk8knight]

Go to the next rung down and make it illegal to take intangible assets out of the country. Then, nationalize tangible assets.

So pretty much what Venezuela did.

 

[Crazyhole]

So pretty much what Venezuela did.

I'm fattening up my dog as we speak, lol.

 

[UCFBS]

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It honestly didn't sound like a big deal right up to the "unrealized capital gains" part. Get the pink sheets ready.

Which is asset seizure, pure and simple. The question is ...

There's been much discussion about limiting it to just those "unrealized capital gains" when the uber-elite 'borrow' against. But this doesn't sound like it.

What happens if those "unrealized capital gains" lose value in the future? Does the government give them a credit, like Trump and others received?

So pretty much what Venezuela did.

And Greece. The problem is ... they went after lower and lower savings, until they were taking away everyday citizen investments.

It'll probably be 401k in the 2030s, just when I retire.

 

[Crazyhole]

Sounds like he's advocating for a flat tax. Too bad nobody came up with that idea 30 years ago.

 

[UCFBS]

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Sounds like he's advocating for a flat tax. Too bad nobody came up with that idea 30 years ago.

Government considers charity 'competition,' so they don't count it for tax purposes.

I'm all for taxing billionaries that borrow against their stock. But not for the amounts they aren't. They will all stop investing in the US, just like what has happened in Greece and, to a lesser effect, Italy and Spain.

And we will scare away global investors. I don't think people understand that.

In any case ... Atlas Shrugged is happening before our eyes. Innovative companies are f'd, but those paying off politicians are going to get their exceptions and continued revenue. Let's see what Musk says.