(04-26-2021, 04:36 PM)HURRICANE!!! Wrote:

(04-26-2021, 03:29 PM)Senor Fantastico Wrote: https://taxfoundation.org/biden-capital-...tax-rates/

Oh that.  Not that big of a deal - market swiftly reacted to the news but bounced back up once people had time to absorb the fact that it only impacted people that earned over $1m per year (not including cap gains) AND it still needs to be passed by the Senate which is unlikely.

It's a huge deal if you are really invested.  That "50% gain" that you made on a stock melts away.  That multi-generation farm that you might have worked on your entire life pretty much "melts away" when the owner passes away and you inherit it.

The hundreds or possibly thousands of dollars that you supposedly have made with your day trading is confiscated to pay for the "new green deal".

(04-26-2021, 06:24 PM)Senor Fantastico Wrote:

(04-26-2021, 04:36 PM)HURRICANE!!! Wrote: Oh that.  Not that big of a deal - market swiftly reacted to the news but bounced back up once people had time to absorb the fact that it only impacted people that earned over $1m per year (not including cap gains) AND it still needs to be passed by the Senate which is unlikely.

In addition to raising taxes for those earning +$400,000, raising estate taxes, and raising corporate taxes. 

Hard pass!

Exactly.  I suspect that you probably "earn" +$400,000.00 per year with your operation.  Nobody is looking at the cost to run the operation.  I know farmers that "earn" a lot of money but when it comes down to the cost of operating they actually have a very modest income when all is said and done.  I also know people that own small businesses that are in the same situation.

Some people equate income to equal "wealth".

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