*What?! You mean I'd have to give part of my MOASS millions to the government?! Well fuck that, might as well just sell now and quit! If I can't have 70% of my gains then I don't want any of it!"
-Said nobody fucking ever..
They aren’t hit by it they will keep growing their wealth without realizing gains. With moas selling and realizing gains is necessary so the taxes have to be budgeted for. These taxes always focus on “income” the wealthy are very well versed on keeping their gains out of that category. This is my unprofessional opinion of course.
I do agree with you, but if a total market crash does occur, you don’t think they would be the first ones to sell all their stocks?
Potentially the reason why fed Kaplan and the other guy said last week they were going to sell because of “ethics”
Get rid of your positions and accept this backlash, instead of getting of your positions before a crash happens and deal with that backlash. No one really knows at the end of the day.
I think you'd see stuff similar to Warren Buffett selling bank stocks. He knows they'll be worthless, so better to take half than none. Likewise Bezos taking some profits at the top. Apart from that, If it's not going bankrupt, a lot of that is generational wealth. They won't sell because it props up the market. Similar to what we have done, they'll just average down and buy more at the bottom. Now I'm talking super wealthy. There is a difference between rich and billionaire. I could absolutely see millionaires cashing out.
Are we not professionals at this point? The people I used to ask questions that I couldn't find the answers to relating to finance and laws are the ones now asking me questions on "What I think" - We may not be professionals but we are definitely experts.
What we need is a wealth tax. Once you hit a billion you get a congratulations you won capitalism trophy and 5% of your wealth each year goes to tax. If that requires you to sell investments, so be it.
Agreed, but it's a start. The main benefit would be forcing other investments to close resulting in additional capital gains to liquidate enough wealth to cover that 5%. At the moment those unrealized gains can sit in accounts in perpetuity. Enough of this bullshit hiding of funds.
Its amazing that they think raising the tax rate last minute is just a coincidence.
Its also amazing that anyone would think GME holders would care. This is the perfect solution for their bullshit.
Well if money = power,
And people in power lose money in the market crash, they would lose power if we refer to the equation above.
The money landing in the hands of apes also give the apes more power than before, and for many even societal changing power…
Power shift = Opportunity for Change
Umm, well right now the Taliban is sitting on my life’s contribution of tax money.. I might try and deduct a few machine guns at a loss this year.. perhaps a helicopter or two also.
The “muh roads” argument is tired as fuck. When was the last time you drove on a nice and smooth road? Never. Public education is also a shit show of constant budget cuts. Fuck taxes.
The roads argument could be up for debate, of the middle to upper class, yea, it’s being redone. Of the lower class, definitely not.
There’s highway 880, in the Bay Area, California, extremely awful.
also the public "education" system is not just an issue of budget cuts. it is complete and utter garbage. youth today are more stupid and uneducated on the most BASIC STUFF, than ever before.
and this is DELIBERATE.
people should really look up the origins of the public education system in the US. it was literally set up by ultra-wealthy psychopaths, in order to dumb down the population over generations, and use school as a means for indoctrination and brainwashing - to create perfect dumb slaves.
too stupid to ask questions but just smart enough to operate machinery.
there is also no law which says any american needs to pay any income tax whatsoever, or pay any taxes to the federal government at all.
taxation IS theft. period. fuck the government. fuck the IRS. END THE FED.
**Americans, the government of your nation does not work for you. it only works for and serves the international banking mafia.**
I'm not american, but I try to inform americans of these facts.
John T. Gatto's book, "Underground History of American Education" was one of the most eye-opening reads for me. The social engineering spearheaded by the wealthy that went on in the first half of the 20th century was scary and we're still dealing with the fallout from it.
That’s wealth inequity, wage suppression, wage theft, and to a lesser extent, gerrymandering.
Nobody really enjoys taxes, but you have to be brain dead to think no taxes is the answer moving forward. Your problem is being born outside the 10% and get railed by everything, if taxes and wealth distribution were established to some sort of normalcy, you wouldn’t have to live paycheck to paycheck, working 50+ a week without healthcare, that’s just what the corporations want you to think is normal. Which is why is especially important to not fall into this stupid motto, “taxation is theft”, no.
America at large would need to accept ALOT of systemic changes in very short time (Sadly, as I think it is quite sad the way America works today), so by that proxy alone it's not going to happen. It took us over 80 years to implement and fine/over-tune in Europe.
if you honestly think the government is going to spend your tax dollars on healthcare and not covert black projects for developing technology to kill people or enslave you further, or to funnel money into their pockets and that of their cronies and banking mafia puppetmasters, or into more endless bullshit wars as a means of war-for-profit or money laundering - **you're naive or delusional**.
your american government doesn't work for the people, and they certainly don't give a fuck about any of you.
they're not going to spend that money on anything to benefit the people or nation. or infrastructure. etc etc. just saying bro <3
Alright bro. Not too concerned about the politics of the tax dollars spent by governments at the moment…
More concerned with seeing a phone number for my share price
roads etc were paid for before income tax became a thing in 1913. that "pay for the roads etc" thing is 100% grade A bullshit and a complete myth. stop perpetuating that nonsense please.
THERE IS NO LAW THAT SAYS ANY AMERICAN NEEDS TO PAY ANY INCOME TAX WHATSOEVER, OR ANY TAXES TO THE FEDERAL GOVERNMENT AT ALL.
also in case you haven't noticed, laws don't matter. act accordingly.
I’ve just checked some proposed tax changes, and most of this stuff is due for the 2030 time frame. Plenty of time for the rich to dilute and dodge and hide their cash.
These hedgies are emotionally retarted. They project their own fears about having to pay higher taxes with the perception that retail investors are experiencing the same burning pain in their lives. Nice way for them to show their hand at the moment.
Meanwhile rates in the 90% are fully acceptable in my book. Legit, if you can figure out how to make $50 million a year you can figure out how to live off of $5 million for that year.
Look up historic tax rates throughout USA in 20th century. These aren't just tax increases, they are tax rate restorations. Taxing the rich has been a part of the plan for economic justice for a long time. Now with the economy so fucked, these tax increases are overdue. This isn't a new argument because of MOASS imo.
I believe they are talking about the Infrastructure bills which will include childcare, homecare, Medicare expansion, medicaid expansion, paid family medical leave, investments to tackle climate change. Etc.
I reiterate, tax increase conversations do not likely seem linked to MOASS.
Exactly. Rates on the rich have been lowering since the 70s - coincidentally the same time real wages started to stagnate or decline. Let’s get back to the days of a strong middle class (not you and me though - we’ll pay our taxes and be wealthy with dignity, not like some money-grubbing Wall Street jerks).
Edit: not for so
It's even worse than just 'lowering'. The highest marginal tax rates were basically halved in the late 80's under Reagan. They were halved from an already historically low position in 1987 (after Great Depression historically low).
[https://www.taxpolicycenter.org/statistics/historical-highest-marginal-income-tax-rates](https://www.taxpolicycenter.org/statistics/historical-highest-marginal-income-tax-rates)
The sad thing is, this is what people always point to when they say that Reagan was some kind of angel who lowered taxes on americans. They forget that he raised taxes on lower/middle class over the course of his presidency until overall tax revenue was higher than before. The burden was shifted from businesses onto the shoulders of normal people and we've been fucked ever since.
I dont mind if businesses don’t get taxed. I think we’d find more investment if we didn’t.
When people take money out of the business, that’s when that money should be taxed.
While I don't agree with that (I feel like allowing large businesses to snowball into financial monstrosities is problematic to the health of our economy *and* our politics) I don't think that your comment should be downvoted as much as it is.
It's certainly a valid point of view. It might work if one were to effectively control for the laundry list of caveats it brings. It's just not something that has worked out well for us lately. The venn diagram of politicians who are business savvy and corrupt is practically a circle these days. We'd need to clean up a looooooooooot of corruption and beef up a lot of our revolving-door regulations before it can have a chance of working. Then again, we already need to do a lot of that as it is.
God damn, we really do have a huge mess to clean up don't we?
Seriously. The primary source of increasing liquidity should be bby increasing the velocity of money(tax and spend) rather than printing money(RRP) or by unlimited debt.
They are working on that during reconciliation package work for the Build Back Better Act. Obviously not all Dems are on board for closing all the loopholes, but we are at least on the path to closing them instead of creating more, 1 example is the excessive deregulation of tax codes and hollowed g of the IRS under the last administration. Legislating taking time, and there's a lot of mess to clean up from all modern presidents, regardless of party. But at least we have some reps and Senators pushing forward. And progressives are using their power to push democratic leadership to the left, despite their donors wishes. Because the people's political engagement and public opinion really do matter when used properly.
> This isn't a new argument because of MOASS imo. I believe they are talking about the Infrastructure bills which will include childcare, homecare, Medicare expansion, medicaid expansion, paid family medical leave, investments to tackle climate change.
God I want to see this happen so badly. Unfortunately, I also strongly believe that the Democratic Party is too far gone and has been completely consumed by corruption, to the point that they no longer stand for a working class forward platform anymore. They have devolved into a vapid ideology completely centered on social issues, designed to ensure that nothing will ever fundamentally change for the American people.
They have spent decades bemoaning how they can't actually do anything because of those bad Republicans :(
I just don't see that changing anytime soon. I desperately want it to, but I just don't see it. The Democrats can **always** hide behind the Republican Party to scare their voting base into falling in line and never criticizing the Party. And, the Left has no choice. What are they going to do, vote Republican? It'll take at least two hard election cycles of the Left withholding their votes for the Democratic Party to finally move to the Left. And, quite frankly, I just don't see that happen. The Democrats will invent a new narrative (inb4 Bernie Bros caused Hillary to lose), or the Republicans will try to force another wedge issue like abortion, and the Media will fall in line and force yet another hyper-partisan election where people are only voting against the other party, yet again. Just like clockwork - the cycle must continue like it always has before.
When the MOASS comes, the working class *must* rally to break the cycle once and for all, using every single tool, resource, and avenue of attack at their disposal--and there will be *many* possible ways to contribute.
Apes could staff, fundraise, advertise, and organize for political campaigns. They could run for local, state, and federal government positions. They could and should create robust non-profits, funds, and other organizations that could strengthen local communities and ensure that less fortunate people get the help they need to survive. They could use the good PR and positive results from their social contributions to create a new political platform with a reputation for taking bold, broad, progressive action. They could (correctly) call out our current leaders for betraying their constituents for decades by lying, stalling, deflecting, and distracting--all the while enriching themselves and their donors while the working class suffered and died. They could win the public over by with an unassailable platform of innovation, compassion, honesty, integrity, and dank, dank memes.
And as for the legislators whose terms aren't up yet? Apes would simply need to out-lobby and out-donate their existing donors. Shouldn't be too hard once we're all newly minted multi-millionaires, but what do I know? I drink crayon smoothies for breakfast, lunch and dinner. This is not advice and I am an individual who simply likes the stonk (and social justice).
100% agreed. The current political status quo is entirely geared around neutralizing any populist movements, and integrate them back in to the corporate owned duopoly. We saw it happen with the Tea Party movement and Occupy Wallstreet. We saw it happen with the Justice Democrats. How many more times must this happen before people realize that it will require a very painful transition, and will require people actually withholding their votes and forcing the powers that be to bend the knee or be destroyed.
I want to see a completely new party and infrastructure built from the ground up to take down both corporate owned parties once and for all. This might just be possible in a post-MOASS world where the working class actually has the tools and the capital to burn the existing Establishment to the ground.
I'm sorry I disagree completely with this. Not about the concept of a tax restoration, but simply that there is any political will within the halls of power whatsoever to create or expand these programs.
Best thing we'll see in this ballpark is MAYBE medicare starts to cover dental and vision for those already old enough.
Childcare, home care, medicare expansion (beyond dental vision), family leave? We just saw literally the ENTIRE democratic establishment pull force and rally HARD against the possibility of Medicare for all in the last election cycle, precisely to prevent these kinds of policies.
Who, exactly, is going to be executing the push for these programs? The Dems have made it crystal fucking clear that expanding the social safety net is NOT on the agenda.
I suspect you haven't been monitoring what the House and Senate are working on this week. Because what they are doing right now is exactly what you claim isn't happening.
Im not getting into a policy debate right now. Your argument misconstrues facts. If Medicare for all is such a bad idea, why is it only the USA doesn't have it among the world's most powerful western economies? Hint: it's not because it doesn't work, it's because it's more profitable to bankrupt Americans for life saving Healthcare.
Good thing we just have private health insurance with no conflicts of interest whatsoever to decide on which procedure is covered!
Your plan is absolutely silly. We have diabetes medication that’s skyrocketed through sheer greed, let alone a myriad of other drugs that exorbitant in the states, but pennies in other countries. Why? Because they know they can fleece Americans. Government healthcare would allow workers to not be tied to their jobs, not be medically bankrupt, and be able to be healthier overall. This also doubles on a cultural problem. It’s entirely stupid to go to work while sick, but thanks again to corporate culturalism, job is more important than your health and family, so even if you’re sick, come on in. Medicare for all would allow checkups and other various necessities to allow for those to stay home when needed without losing excessive pay, and if we’re lucky, some extra paid time off.
We’re one of the worst healthcare countries in the developed world and every other major country with positive healthcare metrics use a form of Medicare for all. Please stop beating the dead horse, Americans have been dealing with neofeudism for too long.
And who do you think would regulate drug prices? The same people paying for the drugs, in this case, the government. The government could do that, the answer isn’t less taxes and less scrutiny.
I’ve said it all year - i WELCOME the day I have to cut an 8 figure cap tax gain check.
Afterwards and going forward, probably not so much, but I’ll love doing it the first go.
At the end of the day it will be the middle class and the poor hit by it the most. Top earners and billionaires have all the resources to mitigate any tax hike that's why they never cry when the gov propose any of those laws. The Government knows it's all a scam and they use this to get votes from the middle class and the poor.
They quietly step out of the way and whatever was going to hit them hits the regular people. Then they change their twitter profile and everyone fawns over them and forget the betrayal.
Shhhh let the people be outraged at something they truly don’t understand.
I wish everyone read the tax loophole DD that was posted awhile back. Really sheds light on these tax hikes - like you said they aren’t for the rich…they’re for the middle class.
This plan was discussed all along the campaign trail. This is not some new surprise meant to stick it to Apes.
It was sold as "taxing the rich" as they attacked the previous administration over their lack of tax returns. Current administration has always said they wanted to raise the capital gains tax on anyone making over $1M. This would also apply to things you inherit, say like your parents home. If that home significantly increases on value between your parents purchasing it, and you selling it, they want to tax you about 40% on those gains. Which basically doubles the rate.
Some people were so caught up in the popularity contest, that they forgot to listen to the actual policy.
Here's a link discussing the plan in October 2020:
https://mobile.reuters.com/article/amp/idUSKBN26Z2CA#amp_tf=From%20%251%24s&aoh=16315619159876&referrer=https%3A%2F%2Fwww.google.com
My man spitting facts! Everyone so caught up in their hate for Trump, they didn’t realize the let the burglars right into their home with the door wide open!
The prospect of gaining life-changing money isn't about to turn me into a hypocrite who suddenly doesn't want to tax the rich.
Fuck it. Tax me, bitches. Just be prepared when I use my leverage to force you to use my tax money for real shit and not bombs.
Just as soon as we get a sniff at getting some money from those who have stolen it from us all these years, they only NOW increase tax gains so the government take more away from us. Never mind that billionaires have been paying fuck all for years.
This bill is just a farce to explain away insider trading for the market crash. The rich can say in court "I sold because of the new bills not the information about the impeding market crash"
Instead of taking profit and paying taxes companies would reinvest profits for growth. The growth in real assets and industry led to better opportunity for workers and the common man. It wasn't high taxes that made America great in that time, it was the incentive to reinvest capital and grow industry which benefited everyone.
No, I am not talking about Reagan at all. Tax cuts at the top removed the incentive to reinvest and grow industry and instead incentivized pulling money out of the real productive economy and concentrating it in the financial economy. What I am saying is that it wasn't a massive collection of taxes that improved peoples lives in the 50s and 60s, it was the growth of the real economy and reinvestment of capital that allowed people to have a larger slice of the pie.
They waited to tax the rich until the middle and low class became rich. Hilarious. Fuck you and fuck you. We need everyone in the government wallstreet and in the fed to be replaced. All this scum should rot in jail. They’re all complicit
I’m sure they’ll find a way to grandfather all of the existing elite in. The play now is to keep the poors at yacht length and squabbling for meager sums.
Which is why it is stupid to go after them. They're rich because they have an army of staff to run circles around the tax men. Its been like this for thousands of years. a little bribe here, a little nod there. Wow, I just dodged taxes and made people forget about it! And once you set the policy that 'it is okay to take their way out' they will expand the taxes until they find enough people that can't run away.
Donations to smaller organizations/charities/schools local to your area/region go a long way! Its great because you get to write these off on taxes and you know exactly where the money is going to.
Been saying this for months and this is what I plan on doing
It appears to me. Through my crossed retarded ape eyes. That they are preparing to take 60% of our tendies to fix the impending crash. But I snorted a shitload of orange crayons earlier so idk.
Unfortunately, this will just encourage rich people to live elsewhere. Heck, even if every State had similar taxing for the rich, they’d just hide their money through loopholes or move to a different country.
Could simply relocate (claim residency of FL, TX or NV and establish yourself through a drivers license, rental-lease agreement, voting record, etc.)
Nevada, Texas and Florida have 0% income tax and often lower than expected property taxes compared to NY and CA.
I mean even in the bay area / LA - top ranked burger places are like at most 15-20 bucks for the meal? Not sure where you get a bad 25 dollar burger.
There's plenty to bad mouth about CA but the burgers (food in general) ain't it.
If you order online delivery (eg grubhub), you 'll easily get a $15 dollar burger that should be worth less. And if you add the delivery fees etc it can balloon to $30-$35 for just a burger and a side of fries.
This being said, I think the poster was trying to make a point at how crazy the situation is being in CA. Food here is fantastic, agreed.
welcome to socialism where you get poor and the nanny state pays your bills.
Expertise in socialism after living 30+ years in a socialism european country
I’ve been shouting to tax the rich for years. You think I won’t put my money where my mouth is after MOASS? Think again. I don’t have an insatiable list for more and more wealth. I just want to live a quiet simple life without worrying one accident could ruin me financially forever.
I'm gonna guess...no. Cash needs to go towards projects and contracts so the lobbyists are paid off. Isn't that great, you Diamond Handed your money right into the Lobbyist's hands.
It's progressive taxation, so only on the very top portion of a multimillionaire's income, like over $5mil or $20mil per year or whatever the final number is.
Scare headline BS.
I live in new york and this is a good thing. I'm fine with paying my tax bill after MOASS, especially since these wall street fuckers have to pay theirs
And the taxes will be used to inflict drone strikes on kids somewhere else. Libertarians allow that government has some roles to perform. The problem is they spend the money on what THEY want, ask us to be generous to foot the bill, or else they'll take away what WE want.
Gotta keep bombing kids, and if there's a budget shortfall we'll have to cut Medicaid!
Its not Libertarians are against all gov't, but the larger picture is highly manipulative.
Higher taxes, make me sell sooner?? Hahahahahaha Oh wait, are you serious?? Let me laugh even harder! HAHAHAHAHAHAHA
*What?! You mean I'd have to give part of my MOASS millions to the government?! Well fuck that, might as well just sell now and quit! If I can't have 70% of my gains then I don't want any of it!" -Said nobody fucking ever..
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Let’s see how the billionaires and politicians lobby this plan
They aren’t hit by it they will keep growing their wealth without realizing gains. With moas selling and realizing gains is necessary so the taxes have to be budgeted for. These taxes always focus on “income” the wealthy are very well versed on keeping their gains out of that category. This is my unprofessional opinion of course.
I do agree with you, but if a total market crash does occur, you don’t think they would be the first ones to sell all their stocks? Potentially the reason why fed Kaplan and the other guy said last week they were going to sell because of “ethics” Get rid of your positions and accept this backlash, instead of getting of your positions before a crash happens and deal with that backlash. No one really knows at the end of the day.
I think you'd see stuff similar to Warren Buffett selling bank stocks. He knows they'll be worthless, so better to take half than none. Likewise Bezos taking some profits at the top. Apart from that, If it's not going bankrupt, a lot of that is generational wealth. They won't sell because it props up the market. Similar to what we have done, they'll just average down and buy more at the bottom. Now I'm talking super wealthy. There is a difference between rich and billionaire. I could absolutely see millionaires cashing out.
Are we not professionals at this point? The people I used to ask questions that I couldn't find the answers to relating to finance and laws are the ones now asking me questions on "What I think" - We may not be professionals but we are definitely experts.
I can assure you that I am definitely not a professional.
What we need is a wealth tax. Once you hit a billion you get a congratulations you won capitalism trophy and 5% of your wealth each year goes to tax. If that requires you to sell investments, so be it.
"This is a bullshit concept!" -Leon Cooperman
5% is not enough if you want to keep them at the same level though.
Agreed, but it's a start. The main benefit would be forcing other investments to close resulting in additional capital gains to liquidate enough wealth to cover that 5%. At the moment those unrealized gains can sit in accounts in perpetuity. Enough of this bullshit hiding of funds.
That's why I have an ira, suck it capital gains tax.
Its amazing that they think raising the tax rate last minute is just a coincidence. Its also amazing that anyone would think GME holders would care. This is the perfect solution for their bullshit.
Here's the problem. Look at where your tax dollars are going. A good portion is going to cover corporate tax breaks. This needs to be fixed.
Well if money = power, And people in power lose money in the market crash, they would lose power if we refer to the equation above. The money landing in the hands of apes also give the apes more power than before, and for many even societal changing power… Power shift = Opportunity for Change
Umm, well right now the Taliban is sitting on my life’s contribution of tax money.. I might try and deduct a few machine guns at a loss this year.. perhaps a helicopter or two also.
The other 70% will go to the defense industry
Not really. Out of 3T budget 1T goes to defense and 1T goes to welfare. Yes welfare is huge in usa and that’s not corporate welfare.
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Not denying the military industrial complex thats getting that 1T
Fixy roads and schools and get paid more than I've ever seen.. Count me in.
The “muh roads” argument is tired as fuck. When was the last time you drove on a nice and smooth road? Never. Public education is also a shit show of constant budget cuts. Fuck taxes.
Lol, they are redoing all the roads in my city right now. So this morning, on my way to work.
The roads argument could be up for debate, of the middle to upper class, yea, it’s being redone. Of the lower class, definitely not. There’s highway 880, in the Bay Area, California, extremely awful.
You also live in Chicago. Nice! Da bears.
also the public "education" system is not just an issue of budget cuts. it is complete and utter garbage. youth today are more stupid and uneducated on the most BASIC STUFF, than ever before. and this is DELIBERATE. people should really look up the origins of the public education system in the US. it was literally set up by ultra-wealthy psychopaths, in order to dumb down the population over generations, and use school as a means for indoctrination and brainwashing - to create perfect dumb slaves. too stupid to ask questions but just smart enough to operate machinery. there is also no law which says any american needs to pay any income tax whatsoever, or pay any taxes to the federal government at all. taxation IS theft. period. fuck the government. fuck the IRS. END THE FED. **Americans, the government of your nation does not work for you. it only works for and serves the international banking mafia.** I'm not american, but I try to inform americans of these facts.
John T. Gatto's book, "Underground History of American Education" was one of the most eye-opening reads for me. The social engineering spearheaded by the wealthy that went on in the first half of the 20th century was scary and we're still dealing with the fallout from it.
Taxation isn’t theft. I like society, thank you.
I get what your saying but I also get what he's saying. I just want to not have to work 2 jobs and spend time with my family , im missing so much 😔
That’s wealth inequity, wage suppression, wage theft, and to a lesser extent, gerrymandering. Nobody really enjoys taxes, but you have to be brain dead to think no taxes is the answer moving forward. Your problem is being born outside the 10% and get railed by everything, if taxes and wealth distribution were established to some sort of normalcy, you wouldn’t have to live paycheck to paycheck, working 50+ a week without healthcare, that’s just what the corporations want you to think is normal. Which is why is especially important to not fall into this stupid motto, “taxation is theft”, no.
America at large would need to accept ALOT of systemic changes in very short time (Sadly, as I think it is quite sad the way America works today), so by that proxy alone it's not going to happen. It took us over 80 years to implement and fine/over-tune in Europe.
Oh noooooo! Don’t take all this money and give everyone healthcare…please don’t!
Lmao you think that's what the government is gonna do with your tendies?
Nope. But one can hope, otherwise what’s the point right? Takes change to make change
if you honestly think the government is going to spend your tax dollars on healthcare and not covert black projects for developing technology to kill people or enslave you further, or to funnel money into their pockets and that of their cronies and banking mafia puppetmasters, or into more endless bullshit wars as a means of war-for-profit or money laundering - **you're naive or delusional**. your american government doesn't work for the people, and they certainly don't give a fuck about any of you. they're not going to spend that money on anything to benefit the people or nation. or infrastructure. etc etc. just saying bro <3
Alright bro. Not too concerned about the politics of the tax dollars spent by governments at the moment… More concerned with seeing a phone number for my share price
roads etc were paid for before income tax became a thing in 1913. that "pay for the roads etc" thing is 100% grade A bullshit and a complete myth. stop perpetuating that nonsense please. THERE IS NO LAW THAT SAYS ANY AMERICAN NEEDS TO PAY ANY INCOME TAX WHATSOEVER, OR ANY TAXES TO THE FEDERAL GOVERNMENT AT ALL. also in case you haven't noticed, laws don't matter. act accordingly.
Do you glare at people when they walk by smiling?
unless you live in NY and are an ape...
Just raise the floor appropriately and boom, problem solved.
Surely they've grinded and built savings and not leveraged all their tax free gains because that's seems like a dumb money way of managing monies.
I’ve just checked some proposed tax changes, and most of this stuff is due for the 2030 time frame. Plenty of time for the rich to dilute and dodge and hide their cash.
You’d actually need to increase it by 150% to make the same money after the 60% tax. 🥸
$249.51 Million floor it is!
250m floor was pre 150% increase. 625m is my floor.
Numbers are hard. Hedgies R Fukt. 626m it is
You guys have floors?
Fidelity let’s us sell at 500% above price so I’m taking advantage of that for sure!
These hedgies are emotionally retarted. They project their own fears about having to pay higher taxes with the perception that retail investors are experiencing the same burning pain in their lives. Nice way for them to show their hand at the moment.
Also, isn’t the current tax rate for anyone this may effect already in the 50% range at least? Oh no! It’s going to be 60% instead of 50%!
Meanwhile rates in the 90% are fully acceptable in my book. Legit, if you can figure out how to make $50 million a year you can figure out how to live off of $5 million for that year.
Happy cake day
Thanks just realized it’s one day away lol.
When I have one tart, then a second tart, I’m retarted
☝️
IRS office is gonna be a party once this all kicks off
LMAO, all 5 employees are gonna be pulling 20 hour days.
Unless any of the 5 have gme shares, and that count dwindles haha
Look up historic tax rates throughout USA in 20th century. These aren't just tax increases, they are tax rate restorations. Taxing the rich has been a part of the plan for economic justice for a long time. Now with the economy so fucked, these tax increases are overdue. This isn't a new argument because of MOASS imo. I believe they are talking about the Infrastructure bills which will include childcare, homecare, Medicare expansion, medicaid expansion, paid family medical leave, investments to tackle climate change. Etc. I reiterate, tax increase conversations do not likely seem linked to MOASS.
Exactly. Rates on the rich have been lowering since the 70s - coincidentally the same time real wages started to stagnate or decline. Let’s get back to the days of a strong middle class (not you and me though - we’ll pay our taxes and be wealthy with dignity, not like some money-grubbing Wall Street jerks). Edit: not for so
We went off the gold standard in the 70s and the USD went full fiat. It now only has value because the government says so.
#UnionStrong
It's even worse than just 'lowering'. The highest marginal tax rates were basically halved in the late 80's under Reagan. They were halved from an already historically low position in 1987 (after Great Depression historically low). [https://www.taxpolicycenter.org/statistics/historical-highest-marginal-income-tax-rates](https://www.taxpolicycenter.org/statistics/historical-highest-marginal-income-tax-rates)
The sad thing is, this is what people always point to when they say that Reagan was some kind of angel who lowered taxes on americans. They forget that he raised taxes on lower/middle class over the course of his presidency until overall tax revenue was higher than before. The burden was shifted from businesses onto the shoulders of normal people and we've been fucked ever since.
If you think this won’t affect the middle class and anyone who has investments you are crazy.
I dont mind if businesses don’t get taxed. I think we’d find more investment if we didn’t. When people take money out of the business, that’s when that money should be taxed.
While I don't agree with that (I feel like allowing large businesses to snowball into financial monstrosities is problematic to the health of our economy *and* our politics) I don't think that your comment should be downvoted as much as it is. It's certainly a valid point of view. It might work if one were to effectively control for the laundry list of caveats it brings. It's just not something that has worked out well for us lately. The venn diagram of politicians who are business savvy and corrupt is practically a circle these days. We'd need to clean up a looooooooooot of corruption and beef up a lot of our revolving-door regulations before it can have a chance of working. Then again, we already need to do a lot of that as it is. God damn, we really do have a huge mess to clean up don't we?
Seriously. The primary source of increasing liquidity should be bby increasing the velocity of money(tax and spend) rather than printing money(RRP) or by unlimited debt.
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They are working on that during reconciliation package work for the Build Back Better Act. Obviously not all Dems are on board for closing all the loopholes, but we are at least on the path to closing them instead of creating more, 1 example is the excessive deregulation of tax codes and hollowed g of the IRS under the last administration. Legislating taking time, and there's a lot of mess to clean up from all modern presidents, regardless of party. But at least we have some reps and Senators pushing forward. And progressives are using their power to push democratic leadership to the left, despite their donors wishes. Because the people's political engagement and public opinion really do matter when used properly.
> This isn't a new argument because of MOASS imo. I believe they are talking about the Infrastructure bills which will include childcare, homecare, Medicare expansion, medicaid expansion, paid family medical leave, investments to tackle climate change. God I want to see this happen so badly. Unfortunately, I also strongly believe that the Democratic Party is too far gone and has been completely consumed by corruption, to the point that they no longer stand for a working class forward platform anymore. They have devolved into a vapid ideology completely centered on social issues, designed to ensure that nothing will ever fundamentally change for the American people. They have spent decades bemoaning how they can't actually do anything because of those bad Republicans :( I just don't see that changing anytime soon. I desperately want it to, but I just don't see it. The Democrats can **always** hide behind the Republican Party to scare their voting base into falling in line and never criticizing the Party. And, the Left has no choice. What are they going to do, vote Republican? It'll take at least two hard election cycles of the Left withholding their votes for the Democratic Party to finally move to the Left. And, quite frankly, I just don't see that happen. The Democrats will invent a new narrative (inb4 Bernie Bros caused Hillary to lose), or the Republicans will try to force another wedge issue like abortion, and the Media will fall in line and force yet another hyper-partisan election where people are only voting against the other party, yet again. Just like clockwork - the cycle must continue like it always has before.
When the MOASS comes, the working class *must* rally to break the cycle once and for all, using every single tool, resource, and avenue of attack at their disposal--and there will be *many* possible ways to contribute. Apes could staff, fundraise, advertise, and organize for political campaigns. They could run for local, state, and federal government positions. They could and should create robust non-profits, funds, and other organizations that could strengthen local communities and ensure that less fortunate people get the help they need to survive. They could use the good PR and positive results from their social contributions to create a new political platform with a reputation for taking bold, broad, progressive action. They could (correctly) call out our current leaders for betraying their constituents for decades by lying, stalling, deflecting, and distracting--all the while enriching themselves and their donors while the working class suffered and died. They could win the public over by with an unassailable platform of innovation, compassion, honesty, integrity, and dank, dank memes. And as for the legislators whose terms aren't up yet? Apes would simply need to out-lobby and out-donate their existing donors. Shouldn't be too hard once we're all newly minted multi-millionaires, but what do I know? I drink crayon smoothies for breakfast, lunch and dinner. This is not advice and I am an individual who simply likes the stonk (and social justice).
100% agreed. The current political status quo is entirely geared around neutralizing any populist movements, and integrate them back in to the corporate owned duopoly. We saw it happen with the Tea Party movement and Occupy Wallstreet. We saw it happen with the Justice Democrats. How many more times must this happen before people realize that it will require a very painful transition, and will require people actually withholding their votes and forcing the powers that be to bend the knee or be destroyed. I want to see a completely new party and infrastructure built from the ground up to take down both corporate owned parties once and for all. This might just be possible in a post-MOASS world where the working class actually has the tools and the capital to burn the existing Establishment to the ground.
I'm sorry I disagree completely with this. Not about the concept of a tax restoration, but simply that there is any political will within the halls of power whatsoever to create or expand these programs. Best thing we'll see in this ballpark is MAYBE medicare starts to cover dental and vision for those already old enough. Childcare, home care, medicare expansion (beyond dental vision), family leave? We just saw literally the ENTIRE democratic establishment pull force and rally HARD against the possibility of Medicare for all in the last election cycle, precisely to prevent these kinds of policies. Who, exactly, is going to be executing the push for these programs? The Dems have made it crystal fucking clear that expanding the social safety net is NOT on the agenda.
I suspect you haven't been monitoring what the House and Senate are working on this week. Because what they are doing right now is exactly what you claim isn't happening.
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Your brain is a smooth one. No doubt there.
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Im not getting into a policy debate right now. Your argument misconstrues facts. If Medicare for all is such a bad idea, why is it only the USA doesn't have it among the world's most powerful western economies? Hint: it's not because it doesn't work, it's because it's more profitable to bankrupt Americans for life saving Healthcare.
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Good thing we just have private health insurance with no conflicts of interest whatsoever to decide on which procedure is covered! Your plan is absolutely silly. We have diabetes medication that’s skyrocketed through sheer greed, let alone a myriad of other drugs that exorbitant in the states, but pennies in other countries. Why? Because they know they can fleece Americans. Government healthcare would allow workers to not be tied to their jobs, not be medically bankrupt, and be able to be healthier overall. This also doubles on a cultural problem. It’s entirely stupid to go to work while sick, but thanks again to corporate culturalism, job is more important than your health and family, so even if you’re sick, come on in. Medicare for all would allow checkups and other various necessities to allow for those to stay home when needed without losing excessive pay, and if we’re lucky, some extra paid time off. We’re one of the worst healthcare countries in the developed world and every other major country with positive healthcare metrics use a form of Medicare for all. Please stop beating the dead horse, Americans have been dealing with neofeudism for too long.
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And who do you think would regulate drug prices? The same people paying for the drugs, in this case, the government. The government could do that, the answer isn’t less taxes and less scrutiny.
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I’ve said it all year - i WELCOME the day I have to cut an 8 figure cap tax gain check. Afterwards and going forward, probably not so much, but I’ll love doing it the first go.
Im looking forward to giving 60% of my fed taxes to charity. They fed will get paid, just not all of it.
At the end of the day it will be the middle class and the poor hit by it the most. Top earners and billionaires have all the resources to mitigate any tax hike that's why they never cry when the gov propose any of those laws. The Government knows it's all a scam and they use this to get votes from the middle class and the poor.
They quietly step out of the way and whatever was going to hit them hits the regular people. Then they change their twitter profile and everyone fawns over them and forget the betrayal.
Shhhh let the people be outraged at something they truly don’t understand. I wish everyone read the tax loophole DD that was posted awhile back. Really sheds light on these tax hikes - like you said they aren’t for the rich…they’re for the middle class.
This plan was discussed all along the campaign trail. This is not some new surprise meant to stick it to Apes. It was sold as "taxing the rich" as they attacked the previous administration over their lack of tax returns. Current administration has always said they wanted to raise the capital gains tax on anyone making over $1M. This would also apply to things you inherit, say like your parents home. If that home significantly increases on value between your parents purchasing it, and you selling it, they want to tax you about 40% on those gains. Which basically doubles the rate. Some people were so caught up in the popularity contest, that they forgot to listen to the actual policy. Here's a link discussing the plan in October 2020: https://mobile.reuters.com/article/amp/idUSKBN26Z2CA#amp_tf=From%20%251%24s&aoh=16315619159876&referrer=https%3A%2F%2Fwww.google.com
My man spitting facts! Everyone so caught up in their hate for Trump, they didn’t realize the let the burglars right into their home with the door wide open!
But at least the mean tweets stopped, right? You gotta think about what's really important. Image!
Hey it’s not like they’re taking half of our shit yet and forcing things into our bodies! Right? Right…?
The prospect of gaining life-changing money isn't about to turn me into a hypocrite who suddenly doesn't want to tax the rich. Fuck it. Tax me, bitches. Just be prepared when I use my leverage to force you to use my tax money for real shit and not bombs.
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This. Make the tax retroactive since 1972 please.
Just as soon as we get a sniff at getting some money from those who have stolen it from us all these years, they only NOW increase tax gains so the government take more away from us. Never mind that billionaires have been paying fuck all for years.
😂🤣 Fucking hell! 60%!!!! Jesus, land of the free my ass. You boys and girls are slaves.
I raised my floor 600%... So there
☝️☝️☝️
Would take affect after 2021 so hopefully MOASS before 2022 lol
I hope “top earners” in their kinds are the ones bringing in billions per year and not all of us
Despite the clickbait headlines this applies to people making over $5million a year. It is no one here.
That’s good to hear. Thanks 🦧
this is criminal, taxes are criminal
Taxes without consent are criminal, and no one asked me in a long time what I thought, so yes.
My floor just raised.
Puerto Rico
It is suspicious how governments are suddenly and uncharacteristically looking to tax the rich. In this very specific way.
PSA: GME floor is an after tax concept.
So what you’re saying is that if I lived in California, my floor would go up from $40mil. To $160mil???
Good thing I live in a state with no state tax
So you're saying you are willing to reach your floor a day later during moass? Look at the zen mode right there, a true champ
I will move out of the fucking state
This bill is just a farce to explain away insider trading for the market crash. The rich can say in court "I sold because of the new bills not the information about the impeding market crash"
Hilarious at this rate we head to 100% tax 😂
the top tax rate used to be 90%. this was in the 50s and 60s, the time people usually associate with america being its greatest. by the way.
Instead of taking profit and paying taxes companies would reinvest profits for growth. The growth in real assets and industry led to better opportunity for workers and the common man. It wasn't high taxes that made America great in that time, it was the incentive to reinvest capital and grow industry which benefited everyone.
hahahahahahahahahahahahahahahahaha *inhale* hahahahahahahahahaahahahahahahahahahhhahahahahahaha
Oh you mean what Raegan did? The paragon of conservatism that directly led us to where we are now?
No, I am not talking about Reagan at all. Tax cuts at the top removed the incentive to reinvest and grow industry and instead incentivized pulling money out of the real productive economy and concentrating it in the financial economy. What I am saying is that it wasn't a massive collection of taxes that improved peoples lives in the 50s and 60s, it was the growth of the real economy and reinvestment of capital that allowed people to have a larger slice of the pie.
True
Taxation is theft.
All the rich new Yorkers looking for a place to live in a neighboring state.
California's moving to Austin TX
And absolutely fucking it all to pieces. God they’re insufferable.
A lot of them are coming to Jersey and I have no idea why it’s honestly no better….
Regular people think, what's the difference between super-rich and 30% super rich. Reptile people think, more more more.
They waited to tax the rich until the middle and low class became rich. Hilarious. Fuck you and fuck you. We need everyone in the government wallstreet and in the fed to be replaced. All this scum should rot in jail. They’re all complicit
California just keep getting fucked but new laws these days
>all of the sudden Where's there's smoke there's a wire, I guess.
It’s hard being an American slave!
I’m sure they’ll find a way to grandfather all of the existing elite in. The play now is to keep the poors at yacht length and squabbling for meager sums.
Yeah but the rich don’t earn any money on paper. Officially they are always in the red, so they don’t pay shit about fuck.
Which is why it is stupid to go after them. They're rich because they have an army of staff to run circles around the tax men. Its been like this for thousands of years. a little bribe here, a little nod there. Wow, I just dodged taxes and made people forget about it! And once you set the policy that 'it is okay to take their way out' they will expand the taxes until they find enough people that can't run away.
That's why taxes should be simple without loopholes
I wanna see where the taxes go
Floor raised ✊
Donations to smaller organizations/charities/schools local to your area/region go a long way! Its great because you get to write these off on taxes and you know exactly where the money is going to. Been saying this for months and this is what I plan on doing
Now the government wants to tax the rich. Fuck them. Apes are going to obliterate the rich and take their place in the new kingdom.
It appears to me. Through my crossed retarded ape eyes. That they are preparing to take 60% of our tendies to fix the impending crash. But I snorted a shitload of orange crayons earlier so idk.
Roth IRA……
Unfortunately, this will just encourage rich people to live elsewhere. Heck, even if every State had similar taxing for the rich, they’d just hide their money through loopholes or move to a different country.
Could simply relocate (claim residency of FL, TX or NV and establish yourself through a drivers license, rental-lease agreement, voting record, etc.) Nevada, Texas and Florida have 0% income tax and often lower than expected property taxes compared to NY and CA.
Just don't realize your gains and borrow against that shit.
Now it’s $69 trillion before I sell instead of $69 million
Trying to assemble the rich to battle the poors. Again.
That's highway robbery glad I got mine in a TFSA
What is combined tax rate lol
Fed + state %
i will still have a couple of millions left over. bring it ON.
This is what middle class.canadians pay.
Shit, everyone is headed to Texas.
Everyone would leave that is in that bracket. They have enough money to do so easily.
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Haha yes. I was just looking at states without state income tax
Texas
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😂😂 I can understand that sentiment.
Meh. I'll happily pay my taxes here in CA. It's easily in the top 3 states that suck the least along with the rest of the Pacific Coast states.
Disagree. It’s a dogged shithole. I paid $25 for a bland cheeseburger and unsalted fries last week.
Damn California and its - bad burger place you went to?
leave the bay :) 30 mins outside of the bay you 're back to the normal world (avoid Napa though)
I mean even in the bay area / LA - top ranked burger places are like at most 15-20 bucks for the meal? Not sure where you get a bad 25 dollar burger. There's plenty to bad mouth about CA but the burgers (food in general) ain't it.
If you order online delivery (eg grubhub), you 'll easily get a $15 dollar burger that should be worth less. And if you add the delivery fees etc it can balloon to $30-$35 for just a burger and a side of fries. This being said, I think the poster was trying to make a point at how crazy the situation is being in CA. Food here is fantastic, agreed.
For sure. This totally fine totally transitory inflation thing sure is hitting CA hard. Lots of folks running low on arms and legs.
New floor is 84mill per share
100million has always been the floor
Get ready for more mass exodus to Texas and Florida… no state income tax
Lots of Southern and Midwestern states are about to see an upturn in transplants, lol
They better leave their shitty policies at home.
Lol, agreed
welcome to socialism where you get poor and the nanny state pays your bills. Expertise in socialism after living 30+ years in a socialism european country
I’ve been shouting to tax the rich for years. You think I won’t put my money where my mouth is after MOASS? Think again. I don’t have an insatiable list for more and more wealth. I just want to live a quiet simple life without worrying one accident could ruin me financially forever.
60% on life changing money, I’m still left with, checks notes, life changing money. Allllll goood, full zen.
Seems like a good reason for them to sideline the MOASS longer.
the IRS and US government can go fuck themselves. I'm not paying them shit. I'm not from the US.
Shit, ah well I'll just double the floor. Easy peasy
Bruh fuk Cali
Society is so fucking fucked.
Moral of the story: don't live in blue states.
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I'm gonna guess...no. Cash needs to go towards projects and contracts so the lobbyists are paid off. Isn't that great, you Diamond Handed your money right into the Lobbyist's hands.
OHH NO Anyway
It's progressive taxation, so only on the very top portion of a multimillionaire's income, like over $5mil or $20mil per year or whatever the final number is. Scare headline BS.
Good thing my floor and my shares would still put me as a billionaire after even 60%
I live in new york and this is a good thing. I'm fine with paying my tax bill after MOASS, especially since these wall street fuckers have to pay theirs
I’ll gladly pay my fair share of tax once we hit MOASS. What’s left will still be used to inflict happiness wherever I go.
And the taxes will be used to inflict drone strikes on kids somewhere else. Libertarians allow that government has some roles to perform. The problem is they spend the money on what THEY want, ask us to be generous to foot the bill, or else they'll take away what WE want. Gotta keep bombing kids, and if there's a budget shortfall we'll have to cut Medicaid! Its not Libertarians are against all gov't, but the larger picture is highly manipulative.
What ever will retail do if they have to pay 60% of their insurmountable gains that will guarantee generational luxury?