[Doug64]

Good luck to them, 2022 will be the time when Biden fully beats Corona and his infrastructure plan is in motion. He is not likely to loose seats in 2022 nor 2024.

Remember, it's not just Biden's performance that's going to be judged, since he isn't on the ballot. It's going to be an "all of the above." The ongoing border crisis, the (likely) coming inflation, the lingering resentments over lockdowns and fighting to get schools reopened, the anti-police crusade, and any other gifts the Leftists in Congress and his administration give Republicans--and the corresponding votes forced on Democratic representatives from swing districts--is almost certain to give Republicans the House at least. (Not that they should kick back and take it easy--as Pelosi is learning, having a slim majority is worse in some ways than being in the majority.)

All of which explains the Left's fight to abolish the filibuster. They know their time in control of both Congress and the Presidency is likely limited, and want to get as much of their agenda rammed through as they can, whatever it takes. Which just helps make their loss of control all the more likely.

[colliric]

43% Capital Gains tax proposal.....

Joe Biden, the piece of shit cost me and a shitload of other Australians several thousand dollars this week, since he crashed our ASX(the success of which is closely linked with your economic performance) with that bullshit. Then came for the Crypto too. Thanks Joe, we Aussies really appreciated you crashing our Stock Market (again in less than a year? Fuck), directly from Washington this week. Thanks asshole.

And you wonder why people supported Donald Trump and pressured you Americans to vote for him. Newsflash: His Tax reform policy was fucking great.

Fuck the Democrats.

[JohnRawls]

43% Capital Gains tax.....

Joe Biden, the piece of shit cost me and a shitload of other Australians several thousand dollars this week, since he crashed our ASX with that bullshit. Then came for the Crypto.

And you wonder why people supported Donald Trump and pressured you Americans to vote for him. Newsflash: His Tax reform policy was fucking great.

88% of American people are not investors. 94-95% do not invest anything significant. So it doesn't matter for the average joe. It does matter for the richest and large corporations. I think that Biden expects the Republicans to shout as much as possible about it which will ultimately lead to more polorization and dissatisfaction by the people. The people want the corporations to pay more and the top 0.5% to pay more. This is exactly that.

The only "dirty" secret here is that tax is kinda a tax on 401k savings accounts unless they are exempt. But they probably are.

[Rancid]

88% of American people are not investors. 94-95% do not invest anything significant. So it doesn't matter for the average joe. It does matter for the richest and large corporations. I think that Biden expects the Republicans to shout as much as possible about it which will ultimately lead to more polorization and dissatisfaction by the people. The people want the corporations to pay more and the top 0.5% to pay more. This is exactly that.

The only "dirty" secret here is that tax is kinda a tax on 401k savings accounts unless they are exempt. But they probably are.

Yea, it's odd how so many of these people defend corporations not paying their fair share. The majority of Americans make 0 money from the stock market and yet, many are always so concerned about the stock market. Fucking weird.

I don't understand your comment on 401k.

[late]

His Tax reform policy was fucking great.

Shortly before WW1, Winston Churchill persuaded Brits to build a 3rd navy, state of the art. The county went deep into debt to get it.

Then a massive, and massively expensive, land war broke out. The economy would never recover (before the empire collapsed).

Shortly before the massively expensive Covid disease broke out, Trump gave the rich a ton of money. He juiced the economy when it didn't need juicing.

Looking at the long run, Trump's tax cut (reform, my ass) sucked dead male bovine reproductive members.

Sorry you guys have the jitters so bad, but we have to do SOMETHING. Republicans have been cutting taxes on the rich for 40 years, it's 40 years past time we embraced sanity.

[JohnRawls]

Yea, it's odd how so many of these people defend corporations not paying their fair share. The majority of Americans make 0 money from the stock market and yet, many are always so concerned about the stock market. Fucking weird.

I don't understand your comment on 401k.

Capital gains tax is basically tax on investment or stock market profits to a large degree. Is peoples 401k not in the stock/bond market usually through pension funds?

[Rancid]

Capital gains tax is basically tax on investment or stock market profits to a large degree. Is peoples 401k not in the stock/bond market usually through pension funds?

I know what capital gains tax is man. Remember, I'm rich. I have to pay capital gains taxes most years.

Yes, 401k's are in stock/bonds. Not sure what you mean by "pension funds" though. Pensions aren't really a thing in unless you work for the government. You typically get your 401k through a brokerage firm. The firm will then offer you various investment options. Typically a variety of existing mutual funds they already offer to non-401k customers. Sometimes they allow you to specifically invest right into the company you work for, which is a REALLY bad idea. They often will offer "target date" funds, where it automatically adjusts the stock/bond mix based on your target retirement date.

What I don't understand is what you mean about taxing the rich, versus how it affects 401ks.

[JohnRawls]

I know what capital gains tax is man. Remember, I'm rich. I have to pay capital gains taxes most years.

Yes, 401k's are in stock/bonds. Not sure what you mean by "pension funds" though. Pensions aren't really a thing in unless you work for the government. You typically get your 401k through a brokerage firm. The firm will then offer you various investment options. Typically a variety of existing mutual funds they already offer to non-401k customers. Sometimes they allow you to specifically invest right into the company you work for, which is a REALLY bad idea. They often will offer "target date" funds, where it automatically adjusts the stock/bond mix based on your target retirement date.

What I don't understand is what you mean about taxing the rich, versus how it affects 401ks.

We call them pension funds in Europe. The idea is the same that money goes in to investment of stock or bonds. While i do not believe that 401k need to pay capital gains but this doesn't mean that the company where your 401k is doesn't need to pay capital gains tax meaning that it will drive their investment decisions accordingly.

[Rancid]

We call them pension funds in Europe. The idea is the same that money goes in to investment of stock or bonds. While i do not believe that 401k need to pay capital gains but this doesn't mean that the company where your 401k is doesn't need to pay capital gains tax meaning that it will drive their investment decisions accordingly.

Oh, I understand your question/point now.

My understanding is that the only cost to the employer is their contribution match (if they offer a match). It is their call on if they even want to offer a match. I do not know if they get some sort of tax break on money that goes in as a match. I suspect the government would not want to mess with that tax break if it exists, as it benefits the worker.

[colliric]

Shortly before WW1, Winston Churchill persuaded Brits to build a 3rd navy, state of the art. The county went deep into debt to get it.

Right idea, wrong timing... (Navy was needed in the second war with the Germans)....

Then a massive, and massively expensive, land war broke out. The economy would never recover (before the empire collapsed).

.....and that Winston fella was never heard from again right? Right?

Don't tell me they ever voted him back in, the lunatic!

Shortly before the massively expensive Covid disease broke out, Trump gave the rich a ton of money. He juiced the economy when it didn't need juicing.

It needs juicing now since it's in recovery mode, certainly does not need a tax hike killing its recovery.... Once again, Right idea wrong timing.

Looking at the long run, Trump's tax cut (reform, my ass) sucked dead male bovine reproductive members.

Tax cuts are needed now since the Financial markets are in recovery mode still.

Sorry you guys have the jitters so bad, but we have to do SOMETHING. Republicans have been cutting taxes on the rich for 40 years, it's 40 years past time we embraced sanity.

Wrong time to do it. You raise taxes when the Economy is strong, not when it's still rising from the mat.

[late]

Tax cuts are needed now since the Financial markets are in recovery mode still.

They benefit the rich, which has always been the idea.

The history of tax cuts, for the rich, is not one that has helped the economy much. The boost, if there is one, is short lived. The same dollars, put where they are needed, gives a much better ROI.

Same thing is true, in reverse. The rich have too much money sloshing around, too many tax cuts over the last 40 years... A higher level of taxation will usually be good for the economy, in this situation. This time will be no different.

[JohnRawls]

Right idea, wrong timing... (Navy was needed in the second war with the Germans)....



.....and that Winston fella was never heard from again right? Right?

Don't tell me they ever voted him back in, the lunatic!



It needs juicing now since it's in recovery mode, certainly does not need a tax hike killing its recovery.... Once again, Right idea wrong timing.



Tax cuts are needed now since the Financial markets are in recovery mode still.



Wrong time to do it. You raise taxes when the Economy is strong, not when it's still rising from the mat.

Identity politics and tax cuts are not solutions to every living problem within a society. This is just American stupidity at work.

At some point cutting taxes does more harm than good. Where is that point is hard to say though. Most of the people on this forum will benefit from any tax cuts in Europe or America a lot more compared to the average citizens of their countries but lets not kid ourselves. Being richer compared to the average citizen of your country does not mean that the policy of those countries need to fit only your needs and disregard the average joes.

If you cut taxes, you eventually make people pay more for healthcare, education, public goods and so on and so forth. Beyond just monetary externalities there are externalities that you can't forsee in the long run like the common interest development zones in America which basically slowly eroding democracy and polarizing society in America.

So I will repeat it once again, cutting taxes and identity politics is not a solution to everything. Not even close.

[colliric]

Identity politics and tax cuts are not solutions to every living problem within a society. This is just American stupidity at work.

Yeah but you need it at the moment since the economy is still in the shitter. I'd rather cut taxes and reduce interest rates than go the Stimulus package route.

Once the crisis is over put them back up.

[JohnRawls]

Yeah but you need it at the moment since the economy is still in the shitter. I'd rather cut taxes and reduce interest rates than go the Stimulus package route.

Once the crisis is over put them back up.

The economy is not in the gutter because of high taxes. Get rid of Covid and that will fix the situation along with the stimulus program. That is it, it is not a hard concept to grasp and this is exactly what Biden is doing actually. Also a little bit of investment will help which is the Bidens green plan by the way.

The reason why I am saying that Biden will crush the 2022 although he shouldn't is because global factors point to the fact that he is both lucky to preside over the end of the pandemic and is doing the right things in the economic department.

It took the democrats 4 years of reflection to win after Hillary. I can't believe that Republicans are so blind sighted by Trump victory and then loss not to reflect at all on why this happened. I mean, I said that it is going to be bad for them with a civil war within the party but it seems I was wrong perhaps. There is no civil war and nobody is really intent on fixing the problems within the Republican party. Republicans are just gonna loose and loose until they do something about it. Trump disbalanced the electorate within the Republicans too much so if the Democrats continue on with centrist or centrist right candidates then Republicans will just continue loosing and loosing. And I don't mean just in the presidential. Considering that they learned their lesson then this is what they are probably going to do from now on until the Republicans actually do anything about it.

[colliric]

Dude. Trust me, your parties always fix themselves during primaries mate, and during the midterm campaign.

I'm sure Democrats felt the same early into Carter's Presidency. Got too complacent based on "no way anyone can save that party after what Nixon did!".

Always the primaries is when the "battle for the soul of the Party" comes. I was saying the same shit you just did.

[JohnRawls]

Dude. Trust me, your parties always fix themselves during primaries mate, and during the midterm campaign.

I'm sure Democrats felt the same early into Carter's Presidency. Got too complacent based on "no way anyone can save that party after what Nixon did!".

Always the primaries is when the "battle for the soul of the Party" comes. I was saying the same shit you just did.

Hopefully, Democrats taking over all branches of government is not good. There needs to be political competition.

[BoogeyMan]

Need someone who will fight the biggest culture war weve ever been in since 60s at least what hollywood, media, and mainstream is endorsing is why America is on the decline and Trumps character didnt help any of that, his policies were a step in the right direction the USA was founded on christian principles (even though back in the day there was flaws such as slavery, civil rights, etc), were so divided today is because of what society has become

[Doug64]

88% of American people are not investors. 94-95% do not invest anything significant. So it doesn't matter for the average joe. It does matter for the richest and large corporations. I think that Biden expects the Republicans to shout as much as possible about it which will ultimately lead to more polorization and dissatisfaction by the people. The people want the corporations to pay more and the top 0.5% to pay more. This is exactly that.

55% of Americans, and 52% of families, own stock. Broken down by income:

• Top 10%: 92.3%
• 80-89.9: 86.3%
• 60-79.9: 71.0%
• 40-59.9: 55.8%
• 20-39.9: 34.2%
• The bottom 19.9: 14.5%

So yeah, an increase in the capital gains tax is going to impact a majority of the middle class and even a significant minority of those below them.

[Rancid]

So yeah, an increase in the capital gains tax is going to impact a majority of the middle class and even a significant minority of those below them.

No, because the majority of those families own that stock via tax sheltered accounts like 401k and IRAs. Thus, they are not subject to this tax.

According to this 75% of stock owners will not see any change. This tax will largely target the wealthy.
https://www.cnbc.com/2021/04/26/75-perc ... -hike.html

[JohnRawls]

55% of Americans, and 52% of families, own stock. Broken down by income:

• Top 10%: 92.3%
• 80-89.9: 86.3%
• 60-79.9: 71.0%
• 40-59.9: 55.8%
• 20-39.9: 34.2%
• The bottom 19.9: 14.5%

So yeah, an increase in the capital gains tax is going to impact a majority of the middle class and even a significant minority of those below them.

As i said that stock is 401k related. It is capital gains tax exempts from the side of the average American.

It is like saying 99% of Estonians own stock because we are obliged by law to participate in the government pension scheme and that money is in the stock/bond market right now. I don't even know how much is accumulated there much less what stock they are investing in to.