Gman65

Disaster indeed. Biden abolished everything that Trump had in place at the border , & there has not been a smoother operation of controlling the border IN YEARS. Then along came Joe Biden , who had a build back better plan. WELL , HE HAS SURE TORE & SHREDDED THE BORDER SUCURITY APART , & I along with millions of other Americans would actually be happy if he would just build back , even if not build back better ( what a joke statement), because there is no way anyone with any common Sense can say that there is not a complete disaster going on that is being ignored to save face, PERIOD ! His actions are making everyone of his supporters look like a fool , as himself.

Gman65

That's a fact !

America 1 Loc: South Miami

Why These Politicians Want to Stick It to Investors
A few years ago, I played golf with a fellow who was a retired eye surgeon.
That surprised me because he was still in his 50s. I assumed he didn’t like his chosen profession.
“No, I loved it,” he said. “In fact, I was one of the best.”
So why’d he quit?
“Well, after state taxes, federal taxes, and malpractice insurance, I had to fork over more than half my income every year. So I decided to just travel and play golf. I mean, eye surgery – it isn’t that much fun.”
I thought about that and asked, “So if I needed eye surgery, I’d now have to settle for someone with less talent and experience?”
“That’s one way of looking at it,” he said.
I was reminded of this conversation the other day after hearing the new tax plans offered by several Democrats.
Rep. Alexandria Ocasio-Cortez proposes a 70% top marginal tax rate. Sen. Bernie Sanders proposes a 77% estate tax. Rep. John Larson proposes an uncapped payroll tax increase of 2.4%. Sen. Elizabeth Warren proposes a “wealth tax” of 3% a year.
Not to be outdone, Sen. Ron Wyden wants to tax capital gains at the same rate as regular income, meaning rates of up to 37%.
And he doesn’t intend to wait until an investor sells. He wants to tax unrealized gains annually.
Apparently, these politicians don’t understand what happened in the past when anti-wealth policies like these were implemented, either here or overseas.

Affluent men and women aren’t stupid.

In response to confiscatory tax rates, they change their behavior, move their money, leave the jurisdiction or – like that former eye surgeon – simply quit.
After all, no one who is truly wealthy has to work or risk his money.
The law of unintended consequences doesn’t get the respect it deserves. New legislation always has unanticipated effects… often negative.
Yet many can’t wait to replace something that works with wh**ever “sounds good” or generates v**es.
The investment incentives in the tax code were put there for a reason: to increase opportunity and prosperity.
For example, capital gains are taxed at a lower rate than earned income for three good reasons:
1) It encourages investment and productive risk-taking.
2) It mitigates the effects of double taxation. (Corporations pay taxes on their earnings, and investors pay taxes again when they sell their shares.)
3) It makes capital more mobile by reducing the “lock-in effect.” (Investors are less likely to sell and put their capital to better use if profits are taxed at high rates.)
Moreover, gains aren’t indexed for inflation.
If you invested $10,000 in one stock in 1999, for example, and sold it today for $15,000, your gain is illusory.
Even though you owe taxes on the $5,000 gain, thanks to inflation $15,000 don’t buy as much today as $10,000 did in 1999.
And let’s not forget that risks aren’t always rewarded.
If you bought General Electric (NYSE: GE) 20 years ago, you have a loss, not a net gain. (And only $3,000 of that loss can be taken against earned income in any given year.)
Taxes are essential. They fund necessary government services.
But based on envy, they can easily destroy.
Every day, affluent people move from high-tax countries to lower-tax countries and from high-tax states like California and New York to low-tax states like Texas and Florida.

That forces remaining lower-income families to pick up the slack.

When politicians promise to stick it to the big guy, they generally end up sticking it to the little guy.
Punitive taxes discourage people from starting a business, expanding an existing business, or selling one business to invest in another.
The result? Fewer jobs. Less opportunity. Less prosperity. Less economic freedom.
If you want to know why Starbucks founder and Democrat Howard Schultz is considering running as an Independent, just look at his party’s tax plans.
They aren’t just anti-business and anti-wealth.
They are anti-tax revenue as well.
https://libertythroughwealth.com/2019/04/15/effect-proposed-tax-hikes-income-wealth/?src=email&bsft_aaid=f8915cb1-4a63-4d15-99af-36bbfc068b1e&bsft_eid=950667b6-9622-4c21-bd86-ccbca031939f&utm_campaign=20210507_lw_nonoxf&utm_source=blueshift&utm_medium=email&utm_content=20210507_lw_nonoxf&bsft_clkid=2aab509c-61db-4801-821c-ec05d08ea87d&bsft_uid=4efce594-2dd4-41d6-a44b-01d4943fc7af&bsft_mid=b300c026-a550-4509-b34b-2156c7295ffd&bsft_utid=4efce594-2dd4-41d6-a44b-01d4943fc7af-LIBWEALT&bsft_mime_type=html&bsft_ek=2021-05-07T17%3A51%3A50Z&bsft_lx=7&bsft_tv=16

JoyV

Very good explanation.

Gman65

Ya know Cuda2020 , FINALLY there is something that you posted that I don't have to argue my beliefs with you , & actually I do agree with you on this. . JOE IS NOT A DESTRUCTIVE FORCE. But The string holders controlling their puppet are a VERY destructive force.

Cuda2020

I think industry is heading in that direction anyway and it's proven to be a positive change. A lot can happen in a decade, we've always been pushed into change because resources change and other reasons. Let's keep on moving forward and tackle problems as they arise and not were about the what if fears.

Cuda2020

We shall see.

nonalien1 Loc: Mojave Desert

Open your eyes, it's already plain to see .The biden/Harris administration is the exact worse thing at the most crucial time in America's efforts to remain an independent nation under God with Liberty and Justice for all.

Cuda2020

My eyes are wide open, my question to you is why are yours wide shut?

Parky60 Loc: People's Republic of Illinois

Your eyes may be wide open but they have scales over them.

America 1 Loc: South Miami

🐡
There is another fish more closely related to you called Blowfish.

Gman65

You are correct !

America 1 Loc: South Miami

US Dollar dump.
U.S. Dollar Index (Jun '21) 90.090-0.126.
Nov. 2020 94.085.
Just shy of a $4000.00 negative value per futures contract.

nonalien1 Loc: Mojave Desert

We clearly see two different aspects of the same political scene. I'm looking to the future and don't like where we could be heading. Just hoping to alert the passengers of the coming Trainwreck while there is still time to take action and minimize the damages

Cuda2020

I think it's important to stay positive and focus on expanding our economy, so far we are well on the way and things are looking up, can we all be happy in the present moment and exhale, it does us all good.