Official LRC Kamala Harris for President Thread

seattle prattle wrote:

Ghost of Disco Gary wrote:

Kamala's policies so far:
Price Controls- A Marxist policy which has failed throughout history. These idiots never learn.
28% corporate tax- corporations will flee
44.6% capital gains tax- YUUGE disincentive to invest
25% tax on unrealized gains- Gov robbery.

This is how you bankrupt our nation. Insanity.

Trump will win the election, BIGLY!

Some background needed here.

The 44.6% tax on Capital gain is for the most part just an extension of the Biden's proposal, and would need congressional approval, which is frankly unlikely.

The 25% tax on unrealized capital gains would be on the "ultra-wealthy", and is also not likely to pass.

While the corporate tax rate is currently at 21%, it has been significantly higher than the 28% being proposed by Harris. Apparently, the Corporate Tax Rate in the United States averaged 32.08 percent from 1909 until 2024.

seattle prattle wrote:

Ghost of Disco Gary wrote:

Kamala's policies so far:
Price Controls- A Marxist policy which has failed throughout history. These idiots never learn.
28% corporate tax- corporations will flee
44.6% capital gains tax- YUUGE disincentive to invest
25% tax on unrealized gains- Gov robbery.

This is how you bankrupt our nation. Insanity.

Trump will win the election, BIGLY!

Some background needed here.

The 44.6% tax on Capital gain is for the most part just an extension of the Biden's proposal, and would need congressional approval, which is frankly unlikely.

The 25% tax on unrealized capital gains would be on the "ultra-wealthy", and is also not likely to pass.

While the corporate tax rate is currently at 21%, it has been significantly higher than the 28% being proposed by Harris. Apparently, the Corporate Tax Rate in the United States averaged 32.08 percent from 1909 until 2024.

WinstonSmith wrote:

seattle prattle wrote:

Some background needed here.

The 44.6% tax on Capital gain is for the most part just an extension of the Biden's proposal, and would need congressional approval, which is frankly unlikely.

The 25% tax on unrealized capital gains would be on the "ultra-wealthy", and is also not likely to pass.

While the corporate tax rate is currently at 21%, it has been significantly higher than the 28% being proposed by Harris. Apparently, the Corporate Tax Rate in the United States averaged 32.08 percent from 1909 until 2024.

Extending a stupid proposal is still stupid.

Taxing unrealized gains is absolutely idiotic.

The corporate tax rate prior to Trump's tax cut was 35% which was the highest in the G20. 21% is still higher than several G20 countries.

seattle prattle wrote:

Ghost of Disco Gary wrote:

Kamala's policies so far:
Price Controls- A Marxist policy which has failed throughout history. These idiots never learn.
28% corporate tax- corporations will flee
44.6% capital gains tax- YUUGE disincentive to invest
25% tax on unrealized gains- Gov robbery.

This is how you bankrupt our nation. Insanity.

Trump will win the election, BIGLY!

Some background needed here.

The 44.6% tax on Capital gain is for the most part just an extension of the Biden's proposal, and would need congressional approval, which is frankly unlikely.

The 25% tax on unrealized capital gains would be on the "ultra-wealthy", and is also not likely to pass.

While the corporate tax rate is currently at 21%, it has been significantly higher than the 28% being proposed by Harris. Apparently, the Corporate Tax Rate in the United States averaged 32.08 percent from 1909 until 2024.

seattle prattle wrote:

WinstonSmith wrote:

Extending a stupid proposal is still stupid.

Taxing unrealized gains is absolutely idiotic.

The corporate tax rate prior to Trump's tax cut was 35% which was the highest in the G20. 21% is still higher than several G20 countries.

It is part of a broader strategy to address income inequality and seeing the the wealthy pay their fair share.

The tax on unrealized cap. gains is tricky because there is this "inheited cpaital gains tax loophole" by which inherited stock holdings get a stepped up cost basis for the inheritor, and all that appreciation by the original holder of the stock evaporates. The tax on unrealized capital gains would be one way to address that loophole.

And again, this is just a tax on the ultra-wealthy, and by that, I gather we are talking levels that apply to only a very few.

WinstonSmith wrote:

seattle prattle wrote:

It is part of a broader strategy to address income inequality and seeing the the wealthy pay their fair share.

The tax on unrealized cap. gains is tricky because there is this "inheited cpaital gains tax loophole" by which inherited stock holdings get a stepped up cost basis for the inheritor, and all that appreciation by the original holder of the stock evaporates. The tax on unrealized capital gains would be one way to address that loophole.

And again, this is just a tax on the ultra-wealthy, and by that, I gather we are talking levels that apply to only a very few.

How exactly are people who pay more tax per HOUR than you will pay in your entire life not paying their "fair share"???

filly wrote:

Newname wrote:

Although not a Trumper, I'll answer.

If we are lucky, his election will:

End our endless support of the Ukraine war.

Lessen the censorship we have been facing.

Reduce the likelihood of being locked down and having experiment meds forced on us when the next pandemic they are cooking up gets foisted on us.

This deserves a second response. Trump was the cause of your third point, it happened in 2019 and 2020, when Trump was president. What in your head makes you think the only person to ever let it happen in history is the best choice for preventing it going forward?

WinstonSmith wrote:

Taxing unrealized gains is absolutely idiotic.

Rscotus wrote:

WinstonSmith wrote:

Taxing unrealized gains is absolutely idiotic.

Brett Kavanaugh says you are an idiot. In this case foreign held investments by rich individuals who used the "unrealized" gains to secure "realized" loans to purchase more income sources with "unrealized" gains. So, to use that money "unrealized" as collateral you must pay taxes on it. If you leave it be, there is no problem. Once taxes are paid you are NOT taxed on that money ever again, ONLY on future gains (just like taxes on interest, a one-time tax).

Link:http://www.kiplinger.com/taxes/unreali...

seattle prattle wrote:

* The 25% tax on Unrealized Capital Gains as proposed by Biden would only apply to "individual with incomes and assets exceeding $100 million".

Link:www.forbes.com/sites/greatspeculations...

EL EL wrote:

Newname wrote:

Reduce the likelihood of being locked down and having experiment meds forced on us when the next pandemic they are cooking up gets foisted on us.

filly wrote:

This deserves a second response. Trump was the cause of your third point, it happened in 2019 and 2020, when Trump was president. What in your head makes you think the only person to ever let it happen in history is the best choice for preventing it going forward?

I need a better response for this.

We had lockdowns while Trump was President.

How would electing him again prevent that?

If you say the states did the lockdowns then, are saying he will be a dictator to prevent it next time?

I don’t get the point here.

Sally Vix wrote:

seattle prattle wrote:

* The 25% tax on Unrealized Capital Gains as proposed by Biden would only apply to "individual with incomes and assets exceeding $100 million".

Link:www.forbes.com/sites/greatspeculations...

So .... Elon Musk owns about $100 billion in TSLA stock. His tax bill on unrealized capital gains would be about $25 billion. How will he pay that $25 billion bill? He will have to sell TSLA stock and then will have to pay more taxes on realized capital gains. Then TSLA the next year falls to half of its price the previous year. So Musk owns $75 billion of TSLA stock but the government will have to pay him on the loss of unrealized capital gains. So the government has to pay him. How long will they keep the money before they submit the refund? Will they owe him interest?

Dutch Sprinter wrote:

Republicans can trash talk Kamala all they want, but just remember, they could have run with Nikki Hailey.