With their scolding and posturing, self-described “pragmatists” are mimicking the far-right’s well-worn playbook of scapegoating marginalized people to evade responsibility for charting a visionary path forward.
…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.
…the taxes they raise on the rich don’t affect the rich.
LOL! Weird that this is always the GOP’s 1st, 2nd, and 3rd top priorities at all times!
Raising the income tax does nothing to anyone with a 7 figure income, as they don’t get that in cash.
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.
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.
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.
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.
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.
…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?