Proposing crushing capital gains taxes on biggest donors before the election doesn't make a lot of sense unless:

1. Team Biden isn't worried about the election because it's rigged.

2. There's not even going to be an election.

https://peakprosperity.com/bidenss-tax-increases-have-a-deeper-meaning/

Proposing crushing capital gains taxes on biggest donors before the election doesn't make a lot of sense unless:

1. Team Biden isn't worried about the election because it's rigged.

2. There's not even going to be an election.

https://peakprosperity.com/bidenss-tax-increases-have-a-deeper-meaning/

Biden doesn't make tax law.  Proposing it just helps him with the bloated budget he's planning to send to the House.

Unless the House GOP folds, that tax hike will be cut completely or whittled down significantly.

Capital gains is where most of the Capitol Critters make their real money.

Biden doesn't make tax law.  Proposing it just helps him with the bloated budget he's planning to send to the House.

Unless the House GOP folds, that tax hike will be cut completely or whittled down significantly.

Capital gains is where most of the Capitol Critters make their real money.

You're missing the point. Just proposing it is political suicide. Unless of course there's something we don't know.

You're missing the point. Just proposing it is political suicide. Unless of course there's something we don't know.

Did you just come back from Mars?

Biden can do no wrong.

Did you just come back from Mars?

Biden can do no wrong.

The point of a kleptocracy is that you bribe the government to give you free stuff. This proposition is the exact opposite. My guess is that we are going to have another 911 in the next few months.

The point of a kleptocracy is that you bribe the government to give you free stuff. This proposition is the exact opposite. My guess is that we are going to have another 911 in the next few months.

I doubt these big announcements are done without consulting the big corporate donors. 

As long as they are comfortable with the script as presented and everyone follows it, they know not to get their proverbial panties in a bunch.

"I'm gonna pretend to jack gains tax rates to the moon, but don't worry.  By the time Congress takes a vote, I'll be reelected, and the measure will be voted down."

I doubt these big announcements are done without consulting the big corporate donors. 

As long as they are comfortable with the script as presented and everyone follows it, they know not to get their proverbial panties in a bunch.

"I'm gonna pretend to jack gains tax rates to the moon, but don't worry.  By the time Congress takes a vote, I'll be reelected, and the measure will be voted down."

The part about taxing unrealized gains is particularly concerning, because they can tax on inflation even if the value of your stuff doesn't actually go up. It's basically a tax on a tax.

They say 400k per year but with inflation ramping up we could all become "millionaires" overnight in a currency crash.

The part about taxing unrealized gains is particularly concerning, because they can tax on inflation even if the value of your stuff doesn't actually go up. It's basically a tax on a tax.

They say 400k per year but with inflation ramping up we could all become "millionaires" overnight in a currency crash.

The way inflation has been these last 3 years, lots of people will see their tax brackets slipping upward, including those $20/hour wage earners.

A family that sells a rental property could see more than half a million in gains.  Add their salaries and other investments, and they could easily be hitting close to a million in income as inflation pushes salaries up.

Look at what happened when Trump lowered the taxes for businesses.  Massive amounts of investment capital returned from off-shore accounts.  Biden is likely going to reverse that again.  Why pay US taxes on foreign income if you get better treatment by the off-shore banks?