this post was submitted on 01 Jan 2025
28 points (80.4% liked)
United States | News & Politics
2091 readers
905 users here now
Welcome to [email protected], where you can share and converse about the different things happening all over/about the United States.
If you’re interested in participating, please subscribe.
Rules
Be respectful and civil. No racism/bigotry/hateful speech.
Post anything related to the United States.
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
They won't win for a lot of reasons. Many of them are from the inside. Perhaps even most of them.
If the country just has 2 parties bought and sold by the rich, then no one wins anyway.
The R party always gives gigantic tax cuts to the rich. The D party always raises taxes on the rich. The last 3 Dem presidents raised taxes on the rich. If you are treating both sides as the same, then you are helping the rich get gigantic GOP tax cuts and worsening wealth inequality.
Good thing I'm not doing that.
...the taxes they raise on the rich don't affect the rich. Raising the income tax does nothing to anyone with a 7 figure income, as they don't get that in cash. Nor do they have to liquidate their assets in order to spend money.
The rich will remain practically tax free unless you raise new taxes on everyone that owns any type of property or taxes any kind of loan, which would ruin the economy.
LOL! Weird that this is always the GOP's 1st, 2nd, and 3rd top priorities at all times!
It's not a tax on cash. It's a tax on income. Including non-earned income (most of their income) such as capital gains.
LMFAO! Well how convenient for the rich! What actually ruins the economy is wealth inequality driven by undertaxing the rich. As yes, a temporary wealth tax would be okay to correct the extreme imbalance built up during the last 45 years. But it is better to tax income.
Income tax does not, in anyway tax asset gains.
It's called a capital gains tax doofus and it has existed forever. "Confident ignorance" is the worst type of internet post you can make, and you just did it.
https://www.irs.gov/taxtopics/tc409
Capital gains tax is applied WHEN YOU CASH OUT THE ASSET. until you liquidate the asset, d o f u s, no tax is realized. The rich do no liquidate their capital except for 9+ figure acquisitions, they take zero interest loans against it as spending money.
Your snide comment is ironic, as you have no idea how this works.
Yes everybody knows that. Why the fuck would you think that in any way means we should not tax the rich?