Biden Train Wreck
- Thread starter TigerGrowls
- Start date
Even @scotchtiger might pull the lever for Trump if this is the case.
Whoa. This is just ridiculous. I'm actually debating the amount of shares I sell in a secondary offering this month, and I may increase the amount based on this risk. A substantial amount of my comp is tied up in options that could be realized in the next couple of years, so its imperative we stop this kind of un-American nonsense.
I won't vote for Trump, but I will continue voting for other Republicans so that Congress can hopefully block shit legislation like this.
Biden capital gains tax increase
The capital gains tax rate for long-term capital gains, assets held for more than one year, is at most 20%. Capital gains are the profits you make from selling or trading an asset. The tax rates that apply to a particular capital gain (i.e., capital gains tax rates) depend on the type of asset involved, your taxable income, and how long you held the property before it was sold.Biden’s FY25 budget proposal would nearly double that capital gains tax rate to 39.6%. That proposed capital gains rate increase would apply to investors who make at least one million dollars a year.
Funny enough, our labor union business segment was just folded into my organization.
Oh for fvcks sake. The income tax increase has been broadly championed by Biden, but now there are 3 taxes in addition to that he wants to levy on American families (these 2 plus cap gains above):
Biden's FY25 budget proposes to increase the Medicare tax rate to 5% from the current 3.8%.
Medicare tax
President Biden is proposing a tax increase for people making more than $400,000 a year to help shore up the Medicare program. That income threshold would be based on wages, salary, and capital gains.Biden's FY25 budget proposes to increase the Medicare tax rate to 5% from the current 3.8%.
Capital gains taxes on real estate: 1031 like-kind exchanges
Biden's FY25 budget would also close what the administration calls the “like-kind exchange” loophole. Under current 1031 like-kind exchange rules, real estate investors can defer paying tax on gains from certain real estate deals as they keep investing (reinvesting the proceeds) in that real estate.McGarvey has been making the rounds on all the morning talk shows and wow is he singing Biden's praises. Says he's the most important labor president since FDR except unlike FDR, Biden will meet you on the worksite and split a ham sandwich with you on a crane. You can tell he genuinely loves the guy and he even made an ad for him.
Certainly a good angle for him to play in the contested rust belt.
