Biden Tax Proposals

[jazz]

I have to say, Biden winning is a godsend for us in Canada because we can see what skippy might eventually do and prepare for it.

C corp and S corp tax rates to rise, dividend income, personal income tax brackets to rise, 401ks on the menu too.

But this is the scariest proposal being thrown about, not just an increase in capital gains but going after unrealized capital gains.

Of course the MSM wont tell you any of this. But holy hell if they get something like that through.

I can see them trying something radical during the pandemic and if sleepy Joe gets too much hate afterwards, just impeach and remove him for Kamala.

A lot of hateful lefties are having buyers remorse. Hope they have good accountants.

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https://www.cnbc.com/2021/01/20/oaktrees-howard-marks-on-unrealized-capital-gains-tax-janet-yellen.html

https://www.skynews.com.au/details/_6225724349001

[bucket]

If Jagmeet continues to prop up Trudeau....I think we know what's coming...

The only saving grace about having an election soon is it should push the NDP to near the same status as the Green Party..

If O'Toole hasn't got a win in him with the latest gifts of KXL cancellation, the GG mess, and the vaccine phuckup......he cant win anytime...

[furrowtickler]

Meanwhile, just as predicted for several years now , the wealth distribution is in full swing ..... except for the most wealthy ... or to them and not the poor ... imagine that .


And no , farmers are not part of this group lol ....


Well except for Gates now that he is a cowboy 🤠/ farmer 👩*🌾.

Now add in the great reset to help finally wipe out asset wealth from the middle class and the plan that started years ago will be in full view .
Klause Schwab and Soros smiling ear to ear right now .
Biden was the last piece of the puzzle they needed .

[jazz]

Biden was the last piece of the puzzle they needed .

An unrealized capital gains tax (or basically a wealth or inheritance tax) would require most people to sell assets to pay for it. That would get people to own nothing pretty fast especially with the force of the IRS behind it.

The stock market would have a single mass sell off and then money going back into equities that pay out income in dividends rather than capital appreciation.

How do the billionaires avoid this tax? They are just as exposed. They might get pinched but boy would they have a smorgasbord of cheap assets to pick up after that. Then get next Manchurian candidate to switch the rules back.

[Austrian Economics]

There has also been some talk in the Biden administration about taxing realized capital gains as if it were income. It would not surprise me if this idea has not been batted around on this side of the border.

What could possibly go wrong?

[TASFarms]

People just might start dieing if they are squeezed much more. The vote switchers are have a hard time keeping up “likes” and “dislike”. Biden must have the record for the most dislikes in the first week. 👎🏿

[blackpowder]

There has also been some talk in the Biden administration about taxing realized capital gains as if it were income. It would not surprise me if this idea has not been batted around on this side of the border.

What could possibly go wrong?

There's the rub.
When fingers are pointed at Gates and people say "he doesn't DESERVE that much". Feels different when the same applied to you.

[jazz]

There's the rub.
When fingers are pointed at Gates and people say "he doesn't DESERVE that much". Feels different when the same applied to you.

Lets just say a capital gains hit isnt going to be devastating for the average household. They basically have nothing and thats where the socialist voters are. You wont get elected anymore by plying wealthy donors, there arent enough of them to offset the wealth inequality.

https://www.visualcapitalist.com/countries-wealth-per-capita/

I am sure the billionaires will be given ample opportunity to realize those gains before this hits.

Some flash crash in equities is probably around the corner.

[furrowtickler]

There has also been some talk in the Biden administration about taxing realized capital gains as if it were income. It would not surprise me if this idea has not been batted around on this side of the border.

What could possibly go wrong?

Definitely a concern with the Liberals “reset” , but not sure they will actually try to pull it off .

[jazz]

PP drops a truth bomb in the HoC today. Wow, our combined debt is 300% of GDP, $8.6T.

Are we fcked.

[Guest]

God damn , he is an articulate , well spoken, smart fellow
It must be so frustrating for him to watch these drunken sailors pitch our money out the window ?
Or to listen to this hack the PC’s elected as leader?
I am pretty sure chuck and others don’t run their farms this way
How can anybody in their right mind condone this shit that they are piling on us ?

[jazz]

God damn , he is an articulate , well spoken, smart fellow
It must be so frustrating for him to watch these drunken sailors pitch our money out the window ?
Or to listen to this hack the PC’s elected as leader?
I am pretty sure chuck and others don’t run their farms this way
How can anybody in their right mind condone this shit that they are piling on us ?

I love PP but honestly, he talks above the average canadians IQ. None of them know jack squat about debt servicing and the debt crisis from the 90s. They are all in pretty hair mode.

They need a simple message to cut through, something like Justin will be going after your home equity and doubling the GST to pay for mismanagement. That would be a chill into Toronto and Vancouver pretty fast.

[sumdumguy]

Or JT will tax your capital gain on house. 💥

[helmsdale]

How can anybody in their right mind condone this shit that they are piling on us ?

The answer is hiding in plain sight!

How can we expect the government to live within its means, distinguish between wants and needs, and be wary of consequences when the majority of the population (both those that vote for them, and those that dont), are incapable of doing the same?

We deserve the government that we elected. Both those that endorse this, and those that fail to provide a plausible alternative.