So earlier today Biden has indicated an increase to the capital gains tax on the “wealthy”. Oh come on, really? Are you sure it’s only going to be on the “wealthy”? We shall see in practice is this gets pushed through and passes through Congress – if they still going through passing legislature in Congress.
With the amount of Executive Orders Biden has signed, I cannot keep up nor how many has been signed already.
So here’s a thought that just came to my mind as I watched the video above via Bloomberg Quicktake’s Tweet… If they supposedly state that Biden will raise the tax on the wealthy and not increase the taxes on the individuals / families making less than $400,00… To me I see it as a double edge sword. How so? Let me think out loud here…
Taxes increase on the wealthy who make $400,000 and more ~ Of course the wealthy can afford anything even some middle class persons if knowledgeable enough and well connected to seek out financial advice to see how to lower their taxes overall. Example if I’m going to make big bucks – I would see what’s out there financial planning wise to lower what I would owe in taxes so I can be able to have more disposable income (more money to spend on whatever I choose to). I mean lots of investment income encompasses investment losses. So I’m sure plenty of financial savvy folks will utilize investment losses to lessen or lower their tax rates in response to this.
Or if anything, the people who financially proficient will probably just pack up and leave… then who then will the Federal Government go after to tax to get money into the big government…? The people next down – making less than the “wealthy”. As I heard the phrase before – “shit rolls downhill”.
In the attached video Dr. Hanson has made A LOT of valid points here.
History is slowly repeating itself IF we are not careful.
Thinking about it… the fall of these early Western civilizations collapsed after how many years? A couple hundred ~~ several hundred years? For example, the Roman Empire lasted quite a bit; however, it began to collapse.
“…The fall of the Western Roman Empire, AD 376-476, was the process of decline in the Western Roman Empire in which the Empire failed to enforce its rule, and its vast territory was divided into several successor polities…”
The Greek Empire lasted about ~ 350 years.
And United States is at this day in age at about 244 years since we declared our independence from Great Britain… And about 234 years since the creation of the U.S. Constitution.
Why? Here’s my thoughts. The democratic party wants…NEEDS more votes for future elections ergo reasoning behind in trying to make Washington D.C. the 51st state in the United States. What then? It’s already leaning towards making an amendment to the U.S. Constitution, particularly the 23rd amendment that bars Washington D.C. from becoming a state, if it goes their way.
Feels more in their direction to holding onto their power and control of the Federal Government. It’s so political and gotten corrupt way from the get-go. I do not want these very progressive and liberal thinkers to overtake (for a lack of a better term) power and control of our Federal Government. I prefer the checks & balances, the balance of powers to be in place. Not for one particular party to be over-powering everything.
As I’m thinking of these out loud… What one party has ever been successful in “ruling”? Sounds very similar to becoming a socialistic / communistic aspect here. I hate to say it, but I’m becoming more weary of what’s been going on and do not like how our country is headed down towards. Again, these are just my thoughts and I’m seeing things becoming more apparent like it’s literally in front of us – slapping us in the face. However, so many people here in the United States are so filled up with the divisiveness, hatred, racial tensions, etc. People lack logical intelligence and straight up respond emotionally and irrationally. You really have to thank our politicians who keep adding the oil to the fire than rather doing what they’re supposed to be doing. They have one job… do it properly. Oh, but of course not. They want to keep us divided in order to keep themselves in office. That’s their play.
A police who has been a police but when he abused the law and made mistake. He served his bad choice. That’s understandable.
But a criminal who has been doing nothing good for society but have been making many minor crimes but now pronounced a hero who died for justice?! I can’t understand society and the people surround me anymore.
Justice is a joke. Political game is getting very ugly and dirty and the young generation is made of a huge crowd of entitled useless brats!