Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
DaRude
on 23/04/2021, 02:23:14 UTC
⭐ Merited by JayJuanGee (1)
I take it the Biden lovers here still love him after threatening to double capital gains tax, right, because it's gonna go to a "good cause"?

https://www.msn.com/en-us/money/markets/biden-to-propose-capital-gains-tax-of-396-to-fund-education-and-child-care-reports-say/ar-BB1fWevE


Probably why your corn is worth a bit less at the moment.

I like how you conveniently left out "...for those Americans earning more than $1 million" part, is that what they call fake news??

Let's see, looks like there were 154,094,555 Individual income tax filed, out of those 541,410 is the Number of returns with AGI $1M or more (TY 2018). If my maths are right that's only 0.3% of tax returns.
https://www.irs.gov/statistics/soi-tax-stats-tax-stats-at-a-glance

Now i'm sure that there are a lot of issues with taxation etc, but tell me again how the fuck shit that's only effecting top 0,3% is what we're supposed to worry about? What if it was only effecting those hedge fund owners making over $10MM/yr, would you still feel the need to protect them?

154,094,555 Individual income taxes, collected $1,942,182MM, that's an average of $12603/return. Worst case, single filer with no dependents and standard deductions would need to earn over $89k/yr to be a net contributor. I feel for Bob and his ranch, but perhaps he can limiting his cap gains to $999k/yr for few years and the point is moot