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SUMMARY OF BIDEN'S TAX CHANGES: 1. Raise capital gains tax f...
SUMMARY OF BIDEN'S TAX CHANGES:
1. Raise capital gains tax from 20% to 39.6%, highest since 1978
2. Top tax rate raised from 37% to 39.6%
3. Corporate tax rate raised from 21% to 28%
4. Self employment tax raised from 3.8% to 5.0%
5. Increase IRS funding by 15% on top of $80 billion from the Inflation Reduction Act
6. 25% minimum tax rate on households with $100 million+ net worth
7. Elimination of tax break for crypto investors
8. Elimination of carried-interest tax break
9. Increase stock buyback tax from 1% to 4%
These changes come as the United States has battled 5%+ inflation for 21 consecutive months and housing affordability is below 2008 levels.
1. Raise capital gains tax from 20% to 39.6%, highest since 1978
2. Top tax rate raised from 37% to 39.6%
3. Corporate tax rate raised from 21% to 28%
4. Self employment tax raised from 3.8% to 5.0%
5. Increase IRS funding by 15% on top of $80 billion from the Inflation Reduction Act
6. 25% minimum tax rate on households with $100 million+ net worth
7. Elimination of tax break for crypto investors
8. Elimination of carried-interest tax break
9. Increase stock buyback tax from 1% to 4%
These changes come as the United States has battled 5%+ inflation for 21 consecutive months and housing affordability is below 2008 levels.
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pennypincher : dead on arrival!! Republicans will not allow such robbery of the American people.
Violets pennypincher : have you watched the Republicans lately? most are in bed with the Democrats
pennypincher Violets : yes, but not on this!! they are united and will put forth their own budget, and then the game begins.
Cardinal-BagHolder : I dont know what all the bitching is about, biden said he would raise taxes and stupid MF voted for him anyway to spare them from mean cheeto man tweets. You ask me, they are getting what they deserve. If you didn’t vote for that joke in office, then I do feel for ya!
Biff Cardinal-BagHolder : Exactly
Clueless Noob pennypincher : If you think that any of politicians are good, or one party is better than another - think again.
None of them give a flying F@ck about people.
All of them and their promises are horse
TeslaSmurf : That would DOUBLE Nancy Pelosi’s family taxation. She’s one of the most powerful democrats… it won’t pass.
M1ke1229 Cardinal-BagHolder : amen
70847617 : you have to pay for that ridiculous deficit at some stage
MonkeyGee : one word summarize it all. RETARDED
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