Biden will increase capital gains tax to 40%. That ought to make it mathematically impossible for working and middle class people to ever become wealthy, so yeah, he's much worse and far more evil than comrade corbyn.
Big D vs Twitter
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Biden will increase capital gains tax to 40%. That ought to make it mathematically impossible for working and middle class people to ever become wealthy, so yeah, he's much worse and far more evil than comrade corbyn.
So less than the highest income tax rate in the U.K.? What a moron.
There is no reason why income from capital should be taxed at a lower rate than income from work. The Wall st. people will disagree, obviously. But either we can agree to redistribute some wealth downward peacefully or it will be done violently, in which case everyone will lose.
Income doesn't compound over time.
The difference is that you are taking a risk to make those capital gains. Imagine you go to a casino to play roullette, you bet $10k on red. If you win, you get $20k, and the government takes $4k of it because fuck you dirty citizen, how dare you improve your lot! Now, imagine it comes black, you lose $10k. The government sits back and shrugs its shoulders, dumb fucking citizen, serves you right for taking a risk!
Who in their right mind will play that game? It will be the end of the US.
Then you get to put those $10k losses against your next lot of winnings.
So you lose $10k. Win $10k. Sell out of both in the same year, then you have a $0k return. Tell the missus to break out the red panties!! In reality, when you have gains you immediately reinvest them into something else to avoid paying tax, and you hold onto the losses in perpetuity waiting for the right moment where they are so big, you can come out $0k ahead. An investment strategy where you keep selling stuff that does well, and hold on to stuff that does shit, is unfortunately not going to make you wealthy. Nor will it make your economy very healthy.
And you’ve made fuck all in reality except on paper. So the wife fucks off because you can’t afford to take her to Aruba.
It’s not different to pat telling us what his cash out bet was and it could’ve come to a crashing end with a bad move.
It’s not different to pat telling us what his cash out bet was and it could’ve come to a crashing end with a bad move.
There are a few reasons. One of which is that assets that are held for a long time have a capital gain that appears artificially high due to inflation. So someone may on paper have made a big profit on it, but in reality, the profit isn’t really that much. The tax rate should be lower to account for that.
Does the US have rebasing or indexation allowances?
The biggest Billionaires worldwide have increased their wealth by upto 25% during the pandemic..
One of which pays very little corporation tax in this country...
Not fine with that at all..
'Oh but they have hired more staff to cope with the demand', they are pumping back into the economy.. On minimum wage fucking 0 hours contracts they have.. Fuck Off..
If.. anything this pandemic will create an even bigger divide..
I'm with @rurikbird on this one..
One of which pays very little corporation tax in this country...
Not fine with that at all..
'Oh but they have hired more staff to cope with the demand', they are pumping back into the economy.. On minimum wage fucking 0 hours contracts they have.. Fuck Off..
If.. anything this pandemic will create an even bigger divide..
I'm with @rurikbird on this one..
What does that have to do with taxing capital gains income at the same level as income on work?
I rather suspect that if individuals or companies are already able to avoid paying tax then the last thing that will result in them stopping avoiding tax is raising the rate!
I don’t agree with taxation on accumulated wealth. Values go up but where is the cash to pay anything due. Tax should be due when transfers happen.
Yes I pretty much agree. I don't like tax on sales of assets or investments as it is essentially double taxing, as the money was already taxed in the first place, but I can accept it happens.
I don't think it should be at the same rate as income tax though for reasons already mentioned.
Yea, it’s disguised remuneration. Even here we get that grey area between capital and revenue income. A single rate of tax would get rid of that issue.
OK, that's new to me. Even so, is the argument about the basic fairness? Then a working single mom who lives paycheck to paycheck and yet pays a significant % of her income in payroll tax, sales taxes and income tax would still have a stronger argument – an argument that giving her and another 999 moms adequate resources and reducing the stress of financial struggle will benefit the society more in the long run than having a trader buy a second yacht. Unless you subscribe to Ayn Randian philosophy that only those at the top of the ladder are producing anything of value and everyone else are essentially moochers who are basically there along for the ride, but I do not believe that.
Isn’t the counter argument to the inflation point is that only really happens compared to cash shoved under the mattress? That cash would have interest applied or invested in other areas. Or even spent to help the economy.
Even treating gains at the same % as income still wouldn’t really match the net amount as earned income at least in the U.K. Income would also attract national insurance which capital gains does not. Granted that is only small % when dealing with wealthy individuals but still needs to be considered.
If we talk about holding something for a really long time, we have the rebasing to 1982 values to help counter the inflation of the 70s.
I still think tax should be charged when an asset (cash or assets/goods) changes hands. Apply hold over and roll over reliefs where applicable, even expanding their scope to encourage reinvestment.
Even treating gains at the same % as income still wouldn’t really match the net amount as earned income at least in the U.K. Income would also attract national insurance which capital gains does not. Granted that is only small % when dealing with wealthy individuals but still needs to be considered.
If we talk about holding something for a really long time, we have the rebasing to 1982 values to help counter the inflation of the 70s.
I still think tax should be charged when an asset (cash or assets/goods) changes hands. Apply hold over and roll over reliefs where applicable, even expanding their scope to encourage reinvestment.
[article]
I, the undersigned Member of the European Parliament, respectfully nominate President Donald J. Trump to receive the 2021 Nobel Peace Prize in recognition of his endeavours to end the era of endless wars, construct peace by encouraging conflicting parties for dialogue and negotiations, as well as underpin internal cohesion and stability of his country.
President Trump has served almost a complete presidential term without starting a new war. This would be the first time for almost four decades, when the President of the United States of America has served a term without engaging his country to new conflicts. Moreover, he has fulfilled his previous campaign pledge by withdrawing thousands of troops from Iraq and Afghanistan.
On September 15, 2020, President Trump, together with Israeli Prime Minister Benjamin Netanyahu, United Arab Emirates Foreign Minister Abdullah bin Zayed al-Nahyan and Bahrain Foreign Minister Khalid bin Ahmed Al Khalifa, signed historic peace deals in Washington D.C. The peace deals, together called as the Abraham Accords, established full diplomatic relations between Israel and the United Arab Emirates, and Israel and Bahrain. The role of President Trump as a mediator of the Abraham Accords, which potentially mark the dawn of a new Middle East, was indispensable.
Finally, President Trump has maintained national cohesion and secured law and order by taking a strong stand against detrimental social movements, which fragment the society by turning different parts of population against each other, and commit vandalism on public and private property and violence against the police authorities and ordinary citizens. It is hard to imagine a president of the United States from the last decades, or a current head of state, who would deserve more the Committee's recognition in 2021 than President Trump for his efforts to build peace in the world
[/article]
https://www.scribd.com/document/479509479/Letter-nominating-Trump-for-Nobel-Peace-Prize#from_embed
I, the undersigned Member of the European Parliament, respectfully nominate President Donald J. Trump to receive the 2021 Nobel Peace Prize in recognition of his endeavours to end the era of endless wars, construct peace by encouraging conflicting parties for dialogue and negotiations, as well as underpin internal cohesion and stability of his country.
President Trump has served almost a complete presidential term without starting a new war. This would be the first time for almost four decades, when the President of the United States of America has served a term without engaging his country to new conflicts. Moreover, he has fulfilled his previous campaign pledge by withdrawing thousands of troops from Iraq and Afghanistan.
On September 15, 2020, President Trump, together with Israeli Prime Minister Benjamin Netanyahu, United Arab Emirates Foreign Minister Abdullah bin Zayed al-Nahyan and Bahrain Foreign Minister Khalid bin Ahmed Al Khalifa, signed historic peace deals in Washington D.C. The peace deals, together called as the Abraham Accords, established full diplomatic relations between Israel and the United Arab Emirates, and Israel and Bahrain. The role of President Trump as a mediator of the Abraham Accords, which potentially mark the dawn of a new Middle East, was indispensable.
Finally, President Trump has maintained national cohesion and secured law and order by taking a strong stand against detrimental social movements, which fragment the society by turning different parts of population against each other, and commit vandalism on public and private property and violence against the police authorities and ordinary citizens. It is hard to imagine a president of the United States from the last decades, or a current head of state, who would deserve more the Committee's recognition in 2021 than President Trump for his efforts to build peace in the world
[/article]
https://www.scribd.com/document/479509479/Letter-nominating-Trump-for-Nobel-Peace-Prize#from_embed
How long did you work on that?
https://www.google.com.au/amp/s/www...perman-shirt-hospital-coronavirus-2020-10?amp
Ahaha...ah...hahahahaha.
Quick - someone tell him he can fly and see if he takes a leap off Trump Tower.
Ahaha...ah...hahahahaha.
Quick - someone tell him he can fly and see if he takes a leap off Trump Tower.
I don't usually back him up, drugs explain this.. not excuse it though.
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