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[–] derram 0 points 1 points (+1|-0) ago 

https://archive.fo/sJlqD :

Trump Administration Mulls a Unilateral Tax Cut for the Rich - The New York Times

'WASHINGTON — The Trump administration is considering bypassing Congress to grant a $100 billion tax cut mainly to the wealthy, a legally tenuous maneuver that would cut capital gains taxation and fulfill a long-held ambition of many investors and conservatives. '

'But if her original purchase price was adjusted for inflation, it would be about $300,000, reducing her taxable “gain” to $700,000. '

'If a high earner spent $100,000 on stock in 1980, then sold it for $1 million today, she would owe taxes on $900,000. '

' That would save the investor $40,000. '

'Steven Mnuchin, the Treasury secretary, said in an interview on the sidelines of the Group of 20 summit meeting in Argentina this month that his department was studying whether it could use its regulatory powers to allow Americans to account for inflation in determining capital gains tax liabilities. '


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[–] vargrx 0 points 1 points (+1|-0) ago 

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[–] cyclops1771 0 points 0 points (+0|-0) ago 

Capital gains taxes are paid by everyone the same.

This is mote propaganda of class warfare.

I just finished reading Anne Applebaum's book Red Famine - I highly recommend it - and watching the actions taken by the Soviet state to crush it's political opponents is the exact same playbook being used today by the same left to crush it's political opposition. The only difference is that the Soviets dealt in grain while today, they deal in dollars.

There is an old 60's hippie song that always threw me as being backwards.

The line is

Tax the rich, Feed the poor

Until there are no rich no more

This seems absolutely backwards to me. Wouldn't we want it to be

Until there are no POOR no more ???

That's when I realized that the whole idea is to reduce all to being Poor. Once everyone is poor, you control them 100%. Without the rich to get in the way, the state has total control - they can cut off food, they can confiscate at will, they can decide to overtax one place over another in order to destroy any opposition.

These people are using the proven policies, strategy and tactics of their heroes - Soviet Russia.

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[–] heretolearn [S] 0 points 1 points (+1|-0) ago 

middle class is dying out. rich are getting richer. poor are getting taxed to death. sorry I don't buy it.

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[–] cyclops1771 0 points 0 points (+0|-0) ago 

Interesting. I don't think the middle class is dying out. I think the middle class is outspending their wherewithal to buy a 3000 sq. ft. house, leasing new cars every 3 years, dropping $400/month on phone and internet, when they could live just as easy in a 1200 sq. ft. house and drive a 1999 Dodge Caravan just fine. It's all a matter of perspective, I suppose.