Is everyone on OPP asleep at the switch? Instead of worrying about the Oscars or who's sleeping with whom, here's one to make your blood boil. The current administration wants to increase taxes the rich. While most may be to concerned if our most disliked billionaires post more, the plan is sneaky. The democrats want to tax assets now whether they increase in value or not. You know the Fed will eventually tax everything & everyone. They insist it is merely a "prepayment". Hopefully it'll be declared unconstitutional at the gate. Here's the link to the story:
https://thehill.com/opinion/judiciary/600164-bidens-plan-to-tax-the-rich-unlikely-to-stop-with-billionaires
Tiptop789 wrote:
Is everyone on OPP asleep at the switch? Instead of worrying about the Oscars or who's sleeping with whom, here's one to make your blood boil. The current administration wants to increase taxes the rich.
You would have to understand the thing dems want to tax is the tax avoidance strategies the ultra wealthy use.
I do not agree with some of what I've heard as a means to get to deferred profits and capital gains strategies.
Rather than set aside the day they have to pay capital gains, the idea is for them to pay for them as they make them.
The targeted strategy is when the profits on huge t***sactions are allowed to be deferred to a future time, so these people have the means to take loans out against that property or capital gain so they don't have to pay the taxes.
Loopholes is the key, ending them, making people pay the taxes on the money they make. If they take a loan out against an asset that has a tax due, tax that at the time money is borrowed against it. If it has enough value to be used as collateral it has enough to be taxed.
woodguru wrote:
You would have to understand the thing dems want to tax is the tax avoidance strategies the ultra wealthy use.
I do not agree with some of what I've heard as a means to get to deferred profits and capital gains strategies.
Rather than set aside the day they have to pay capital gains, the idea is for them to pay for them as they make them.
The targeted strategy is when the profits on huge t***sactions are allowed to be deferred to a future time, so these people have the means to take loans out against that property or capital gain so they don't have to pay the taxes.
Loopholes is the key, ending them, making people pay the taxes on the money they make. If they take a loan out against an asset that has a tax due, tax that at the time money is borrowed against it. If it has enough value to be used as collateral it has enough to be taxed.
You would have to understand the thing dems want t... (
show quote)
It will all be passed on to us peons! Mike
teabag09 wrote:
It will all be passed on to us peons! Mike
That's what the GOP wants, have you read the one republican's platform, he wants to make sure all the people at poverty level or that pay none pay taxes...he is not talking about wealthy people who don't pay taxes either.
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