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Harris Plan Would Bring Tax Increases for Richest 1% and Cuts for the Bottom 99%
(www.commondreams.org)
It's hard to tax income if there's no reported income
this post was submitted on 23 Oct 2024
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politics
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Unrealized gains tax. Lets fucking go.
Rewrite the laws that if it's collateral, it's realized.
Tax the loans based on collateral as income and you don't even need to figure out the value of the collateral.
Here we go; this guy gets it.
Then everyone taking out a home equity loan suddenly has to pay the taxes as if they sold their house.
Ok so make it that equity in a primary residence is exempt.
I just get loans on untaxed offshore collateral and write it off as a business expense like everyone else, don't you?
But that's not what the sign on the side of the road says...skeptical.
But then what will trickle down???
I'm kinda thinking we maybe try trickle-up for a few years.
We are the workers and the consumers. We are the ones who trickle down.
I am the one who trickles.
We already have that. It’s called political donations.
Unfortunately, the urine based system where richer people pee wealth on less rich people who then pee on poorer people and so on isn't sound economic theory. Call me surprised, and soaked in freedom pee.
Nothing trickles down, we have seen that for decades.
(I was being facetious)
That’s reasonable
The data is in. Trickle down doesn’t work.
(I was being facetious)
Poor people: “Unacceptable!”
But one day I might be in the 1%! And when I am, I'll show people like ME a thing or two.
Problem is a solid 30% of those that vote see themselves potentially attaining that ~~99%~~ 1%, as baffling as that is.
Edit
You mean 1%?
I do, yikes, thank you
Strangely enough, most people will be in the top 5% at some point in their life. But just for a year, when they sell their house. So you're getting fucked 75 years of your life for maybe 1 year of benefit?
More like you busted your ass for 75 years then got fucked when you had to sell your house.
I am not from the US so might be wrong, but I think it works the same as in mine. It is because they tax income not wealth (which would be difficult I guess). Elon can probably live on $0 income very comfortably by his standard. More than 1% of income earners will be affected at some point as you age up, inheritance etc. Maybe not 30%
Well hell, sign me up!