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Tax cuts for Billionaires (Read 1033 times)
Karnal
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Re: Tax cuts for Billionaires
Reply #15 - Sep 28th, 2024 at 3:53pm
 
Mortdooley wrote on Sep 28th, 2024 at 8:53am:
Karnal wrote on Sep 28th, 2024 at 12:52am:
Mortdooley wrote on Sep 27th, 2024 at 9:57pm:


Mort, if Memo's living in her little house, and going to her little Bible study and everything, she doesn't have to pay a cent.

Never has, never will.

You know this, why are you pretending?



It isn't the law of the land yet but Kameltoe hopes to change that. Oh, and memaw has to pay property tax just like the rest of us although with on over 65 exemption her taxes can be held at the same rate as when she turned 65 regardless of how high they go for the rest of us.




Over 65, Mort. And worth less than $100 mil, which is when Karmala's proposed tax on assets kicks in.

Quote:
"It's not going hit the little guy, and they're not going after houses. They're going after mega-fortunes for founders of these dot-coms and other technology firms."


https://factcheck.afp.com/doc.afp.com.36EV7JB

Now I know you're aspirational, even in retirement. But I doubt you'll ever have a few hundred mil lying around. Nor does Memaw, who"s just a sweet old lady with a house.

You're regurgitating fake news, and you're doing it deliberately to skew an election. Pretending a proposed tax on billionaires is going to take little old ladies' houses is ludicrously fake. It's done in such bad faith it makes one wonder, is this all you've got?

Where's all the great kick-ass policies to sort America out and make it great again? Instead of posting krap, why don't you post about them?
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Karnal
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Re: Tax cuts for Billionaires
Reply #16 - Sep 28th, 2024 at 4:22pm
 
aquascoot wrote on Sep 28th, 2024 at 10:15am:
the reality is that if you give more money to the people at the bottom, they will buy more drugs and tattoos and mag wheeels and KFC and you (as a country) will get no benefit .

if you allow an entrepreneur (like musk) to hang onto that money, he will build a business and create jobs and help the balance of trade figures and you will get a lot of benefit




say i have a super fast racehorse that earns my farm a heap of cash

should i give every horse the same feed, the same veterinary care, the same attention?

if i do that super fast horse will contribute much less and i will have less money to buy feed for all the slow horses and old horses and sick horses.

far better to pour your energy into elevating the best and then we call benefit

as my recent thread established  "rich people are just better people"

poor people , especially the third or fourth generation poor are generally assholes and selfish pricks.

i would support giving resources to new migrants as they can be very ambiotious and have untapped potential

but if you are 3rd or 4 th generational welfare takers, giving you more is rediculous.

much better to give it to new aspirational migrants (especially the chinese and the indians) or leave it with the established stars


The first thing Musk did when he got Twitter was fire the majority of its workforce. The company's been losing value ever since.

The economy is built on people buying things like drugs, tattoos, mag wheeels and KFC. That's what a free market is - people spend their money on stuff they want.

The alternative is command economies like the former Iron Curtain. There, the government decided what people get. This definitely had its benefits - such as universal housing and employment - but it wasn't sustainable to control millions of people who wanted things like Levis and Wham cassettes.

Governments don't provide care to racehorses or businesses, dear. Racehorse owners and businesses employ contractors to do this for them. Government-backed winners rarely last the distance. History is filled with the carcasses of East India and Dutch East Indies Companies.

But good to see you spruiking the big fella's message. Not only have you captured his protectionist ideals, but you've synthesized this with his newfound bromance with Elon and his Nazi-influenced Racehorse Theory.

Where you're off-message, Aquascoot, is the immigrant stuff. If you're in MAGA, you're not technically allowed to say that. Your DL's pitch is Great Replacement Theory. That's where the people you mentioned are being sent in to replace the white man. This is a globalist conspiracy by the leftards to make everybody Mulatto and consent to their socialist One World control.

Having views like yours on immigration place you well outside the tent. You need to understand, dear, the big fella's movement is not a broad church - far from it. Dissenters are put on the RINO list and exiled, usually with death or rape threats.

The big fella demands total control. There is one leader, and that's it. That's what MAGA is.

So good job getting the talking points out, but try to stay on message, okay?
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Mortdooley
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Re: Tax cuts for Billionaires
Reply #17 - Sep 29th, 2024 at 12:47am
 
John Smith wrote on Sep 28th, 2024 at 10:10am:
Mortdooley wrote on Sep 27th, 2024 at 9:07pm:
[quote]
The family home is capital. On any balance sheet of net worth the family home is usually the most valuable asset.


Did you make that up morty? I've never once seen a balance sheet with a family home listed as an asset.  Cheesy



I am no longer surprised at the lack of economic knowledge  your side has since they mostly function on emotions. The equity everyone has in their home is part of their net worth. As the dollar loses value homes are one of the assets that is considered increasing in value. Hence, unrealized capital gains.
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Karnal
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Re: Tax cuts for Billionaires
Reply #18 - Sep 29th, 2024 at 1:03am
 
Mortdooley wrote on Sep 29th, 2024 at 12:47am:
John Smith wrote on Sep 28th, 2024 at 10:10am:
Mortdooley wrote on Sep 27th, 2024 at 9:07pm:
[quote]
The family home is capital. On any balance sheet of net worth the family home is usually the most valuable asset.


Did you make that up morty? I've never once seen a balance sheet with a family home listed as an asset.  Cheesy



I am no longer surprised at the lack of economic knowledge  your side has since they mostly function on emotions. The equity everyone has in their home is part of their net worth. As the dollar loses value homes are one of the assets that is considered increasing in value. Hence, unrealized capital gains. 


Homes are not part of taxable worth. Only incomes, business and sales are taxed, you silly old thing.

Your home can increase in value to over $200 mil - that's the proposed threshold. If you didn't declare it as a business asset, you'd never have to pay a cent in tax.

This isn't you being dumb, Mort. It's you telling fibs. Knowingly, deliberately, and stupidly.

After all, you think we're too dumb to look it up.

You.
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Baronvonrort
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Re: Tax cuts for Billionaires
Reply #19 - Sep 29th, 2024 at 1:07am
 
Karnal wrote on Sep 28th, 2024 at 4:22pm:
The first thing Musk did when he got Twitter was fire the majority of its workforce.


Yes he got rid of all those useless woke leftards with a massive reduction in employees.

He wants to do the same with the government Trump has offered him a position on Department Of Government Efficiency.

Elon would be perfect for that he gets rid of the bloated deadwood.

The new President of Argentina is getting their economy back on track he started by abolishing all those useless woke departments that cost the government a fortune.

If only we had someone who could do that here.  Roll Eyes
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Karnal
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Re: Tax cuts for Billionaires
Reply #20 - Sep 29th, 2024 at 2:08am
 
Baronvonrort wrote on Sep 29th, 2024 at 1:07am:
Karnal wrote on Sep 28th, 2024 at 4:22pm:
The first thing Musk did when he got Twitter was fire the majority of its workforce.


Yes he got rid of all those useless woke leftards with a massive reduction in employees.

He wants to do the same with the government Trump has offered him a position on Department Of Government Efficiency.

Elon would be perfect for that he gets rid of the bloated deadwood.

The new President of Argentina is getting their economy back on track he started by abolishing all those useless woke departments that cost the government a fortune.

If only we had someone who could do that here.  Roll Eyes


He's offered Elon billions of dollars in personal tax cuts, dear. That's what you get when you're a big Trump donor.

One of his biggest donors, Miriam Adelson, earned her millions worth of donations back - with interest, a medal of honor and a new Israeli embassy to boot, as requested. Here's what he's planning to give donors this time:

https://www.independent.co.uk/news/world/americas/us-politics/trump-campaign-don...

When Elon cut staff at Twitter, hate speech, fake news and the dissemination of child porn went up. Ad revenue tanked. So far, Musk has turned a lucrative flagship social media company into a white elephant. Musk himself lost $24 bil on his $33 billion investment, with most of his fellow investors losing around 70% to date.

https://www.washingtonpost.com/technology/2024/09/01/musk-twitter-investors-unde...

Not sure what you mean by all those woke departments in Argentina, dear. Milei's ambitions have been thwarted by Congress. Despite around 24,000 government retrenchments, inflation in Argentina has lowered by around 8% under Milei - to 284% a year.

If we had someone to do that here, our economy would crash. Our inflation rate is 2.7%. Australia has had the longest unbroken record of economic growth in the world.

Literally everything you've said in your post is contradicted by the facts. If an investor took your analysis and invested accordingly, they'd lose their shirt.
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Mortdooley
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Re: Tax cuts for Billionaires
Reply #21 - Sep 29th, 2024 at 8:37am
 
Karnal wrote on Sep 29th, 2024 at 1:03am:
Mortdooley wrote on Sep 29th, 2024 at 12:47am:
John Smith wrote on Sep 28th, 2024 at 10:10am:
Mortdooley wrote on Sep 27th, 2024 at 9:07pm:
[quote]
The family home is capital. On any balance sheet of net worth the family home is usually the most valuable asset.


Did you make that up morty? I've never once seen a balance sheet with a family home listed as an asset.  Cheesy



I am no longer surprised at the lack of economic knowledge  your side has since they mostly function on emotions. The equity everyone has in their home is part of their net worth. As the dollar loses value homes are one of the assets that is considered increasing in value. Hence, unrealized capital gains. 


Homes are not part of taxable worth. Only incomes, business and sales are taxed, you silly old thing.

Your home can increase in value to over $200 mil - that's the proposed threshold. If you didn't declare it as a business asset, you'd never have to pay a cent in tax.

This isn't you being dumb, Mort. It's you telling fibs. Knowingly, deliberately, and stupidly.

After all, you think we're too dumb to look it up.

You.



So, you are saying that home owners don't pay properly taxes where you come from. No city, county or school taxes?

What's one more on memaw as well as the rest of us,  we will call it the annual unrealized capital gains tax. I can definitely seeing it become law if Kamletoe is installed.
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greggerypeccary
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Re: Tax cuts for Billionaires
Reply #22 - Sep 29th, 2024 at 11:10am
 
Baronvonrort wrote on Sep 29th, 2024 at 1:07am:
Karnal wrote on Sep 28th, 2024 at 4:22pm:
The first thing Musk did when he got Twitter was fire the majority of its workforce.


Yes he got rid of all those useless woke leftards with a massive reduction in employees.

He wants to do the same with the government Trump has offered him a position on Department Of Government Efficiency.

Elon would be perfect for that he gets rid of the bloated deadwood.



Bloated deadwood like Donny Dumb Dumb?

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Karnal
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Re: Tax cuts for Billionaires
Reply #23 - Sep 29th, 2024 at 2:10pm
 
Mortdooley wrote on Sep 29th, 2024 at 8:37am:
Karnal wrote on Sep 29th, 2024 at 1:03am:
Mortdooley wrote on Sep 29th, 2024 at 12:47am:
John Smith wrote on Sep 28th, 2024 at 10:10am:
Mortdooley wrote on Sep 27th, 2024 at 9:07pm:
[quote]
The family home is capital. On any balance sheet of net worth the family home is usually the most valuable asset.


Did you make that up morty? I've never once seen a balance sheet with a family home listed as an asset.  Cheesy



I am no longer surprised at the lack of economic knowledge  your side has since they mostly function on emotions. The equity everyone has in their home is part of their net worth. As the dollar loses value homes are one of the assets that is considered increasing in value. Hence, unrealized capital gains. 


Homes are not part of taxable worth. Only incomes, business and sales are taxed, you silly old thing.

Your home can increase in value to over $200 mil - that's the proposed threshold. If you didn't declare it as a business asset, you'd never have to pay a cent in tax.

This isn't you being dumb, Mort. It's you telling fibs. Knowingly, deliberately, and stupidly.

After all, you think we're too dumb to look it up.

You.



So, you are saying that home owners don't pay properly taxes where you come from. No city, county or school taxes?

What's one more on memaw as well as the rest of us,  we will call it the annual unrealized capital gains tax. I can definitely seeing it become law if Kamletoe is installed.


Now you're just pretending.

I'm telling you the proposed tax is a business asset tax that kicks in at $200 mil, not a "property tax". I've provided you with a link showing this categorically, how people are going around spreading this fake news, and you continue to do it.

Now, the Superior Man would say ah and stop trying. The chode? He's another matter.

Lives of pure garbage, innit.
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Mortdooley
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Re: Tax cuts for Billionaires
Reply #24 - Sep 29th, 2024 at 8:55pm
 
Quote:
Far less than .01% of taxpayers cleared the $100 million net worth threshold to pay unrealized capital gains taxes as just 9,850 Americans were worth that amount or more at the end of 2023, according to estimates from Henley & Partners and New World Wealth.


Quote:
The Biden administration estimates the unrealized capital gains tax would generate about $503 billion in tax revenue from the government’s 2025 to 2034 fiscal years.


Biden has given more than that to keep wars going around the world!


A unrealized gain is anything the government says it is. Another tax on business just causes businesses to raise prices, even if it doesn't tax your home directly it will still take money away from you. 100 million is just their starting point, if passed it would work its way down to every asset in the country.

Survey says most people who don't pay any income tax believe the rich need to pay their fair share. I think the poor need to pay their fair share, if not in taxes than with their labor. We pay some people more not to work than a job will pay them to work. How can you not see that is wrong?


Why don't any of you support government just spending less than it takes in?
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Karnal
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Re: Tax cuts for Billionaires
Reply #25 - Sep 29th, 2024 at 9:43pm
 
Mortdooley wrote on Sep 29th, 2024 at 8:55pm:
Quote:
Far less than .01% of taxpayers cleared the $100 million net worth threshold to pay unrealized capital gains taxes as just 9,850 Americans were worth that amount or more at the end of 2023, according to estimates from Henley & Partners and New World Wealth.


Quote:
The Biden administration estimates the unrealized capital gains tax would generate about $503 billion in tax revenue from the government’s 2025 to 2034 fiscal years.


Biden has given more than that to keep wars going around the world!


A unrealized gain is anything the government says it is. Another tax on business just causes businesses to raise prices, even if it doesn't tax your home directly it will still take money away from you. 100 million is just their starting point, if passed it would work its way down to every asset in the country.

Survey says most people who don't pay any income tax believe the rich need to pay their fair share. I think the poor need to pay their fair share, if not in taxes than with their labor. We pay some people more not to work than a job will pay them to work. How can you not see that is wrong?


Why don't any of you support government just spending less than it takes in?


So your case here is that candidates proposing an asset tax on the top 1% of businesses - a proposal that has majority popular support - secretly plans to extend this plan to a "property tax" on the family home.

Is that your final answer, Mort?

Lock it in?
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Mortdooley
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Re: Tax cuts for Billionaires
Reply #26 - Sep 29th, 2024 at 11:57pm
 
Clearly this subject is beyond your ability to understand it. This is just class envy and an attempt to punish success. If implemented it will cause many companies to leave the country and others to pass the cost on to the consumers in higher prices. You should spend about one hundred hours listening to Dave Ramsey and maybe you will see how wrong you are. You definitely need a major education in economics.
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John Smith
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Re: Tax cuts for Billionaires
Reply #27 - Sep 30th, 2024 at 7:03am
 
Mortdooley wrote on Sep 29th, 2024 at 12:47am:
John Smith wrote on Sep 28th, 2024 at 10:10am:
Mortdooley wrote on Sep 27th, 2024 at 9:07pm:
[quote]
The family home is capital. On any balance sheet of net worth the family home is usually the most valuable asset.


Did you make that up morty? I've never once seen a balance sheet with a family home listed as an asset.  Cheesy



I am no longer surprised at the lack of economic knowledge  your side has since they mostly function on emotions. 



You mentioned balance sheets, not me you dumb arse. Can you show me a balance sheet with the family home on it?
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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.
 
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John Smith
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Re: Tax cuts for Billionaires
Reply #28 - Sep 30th, 2024 at 7:05am
 
Mortdooley wrote on Sep 29th, 2024 at 11:57pm:
Clearly this subject is beyond your ability to understand it.



Explains why you have to make up what it affects Grin Grin Grin
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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.
 
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Karnal
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Re: Tax cuts for Billionaires
Reply #29 - Sep 30th, 2024 at 7:53am
 
Mortdooley wrote on Sep 29th, 2024 at 11:57pm:
Clearly this subject is beyond your ability to understand it. This is just class envy and an attempt to punish success. If implemented it will cause many companies to leave the country and others to pass the cost on to the consumers in higher prices. You should spend about one hundred hours listening to Dave Ramsey and maybe you will see how wrong you are. You definitely need a major education in economics.


You've just conceded you don't know the difference between a tax on business assets and a "secret" tax on the family home, Mort, so you're hardly the one to preach.

But do you know? You don't mean it, we all know that. You're just telling fibs.

After all, how could anybody be as dumb as that?

Class envy. How cute.
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