Home Forums Hunting & Shooting Hunter's Campfire Biden's billionaire tax

Good Democrats like Warren Buffet, Jeff Bezos, and Mark Suckerburg are gonna owe quite a chunk of money to the IRS if it passes. A minimum of 20% tax on any unrealized gains on any kind of asset.

It probably won't pass but if it did, does anyone think that when all the money is tallied, it will be a net loss for them?

I don't. Otherwise, they would not have voted for it.

I would rather be in favor of a Billionaire's Beating.

Several billionaires per year are selected from a weighted (by wealth) random draw and beaten with rattan switches on live teevee/youtube. Not to death, but definitely to hospitalization. Hire the guy who whooped that shoplifting American teenager a few years back. Saw the results and was impressed.

We need to implat FEAR back into our rulers, one way or another.

It involves a lot more than just billionaires.

There’s some ‘step up in basis ‘ tax issues involved that can affect lots of folks.

So if your investment goes down in value will the government issue you a check? Didn't think so.

People will find other ways to hide their assets. The honest people will end up paying anyway.

It will never pass[nor was it presented with any thought of passage], just a ruse to distract the masses from the horrible job Joseph is doing.

Bad, bad Billionaires!

Everything is their fault !

Rest assured that there will be plenty of loopholes for the wealthy Democrats. They won't be cutting down their money tree, those who donate big to keep them in power. This is all playing games to dupe the real people.

There's a pile of laws on the books that "will never pass".

How many that primarily affect the uber wealthy?

If it passes I assume there will be a clause in it that exempts members of Congress.

$400k is now a billionaire in Biden's clown world, which actually means anyone; even the 48% who don't pay federal taxes. Corporations don't pay taxes, they just pass those on to the end user. This, on top of the 50 to 250% price increases on food, gas, etc. are how the so-called poor are taxed.

Example?: https://www.youtube.com/watch?v=PuzXdbirgf8

Grain of sand on the beach…….

So, does this mean the “billionaires” will have to dump tons of their stock, every April, in order to come up with the cash to pay the taxes on their otherwise “unrealized gains”???

“Unrealized gains” is about the stupidest thing, ever, in the history of taxes.

Why don’t they just start taxing every person who buys a $200 million lottery ticket for $40 million, as well???

How the hell is the Govt gonna keep-up/refund all the taxes paid, when those gains AREN’T realized??

Yes, and the main problem as I see it, is that there would have to be so many shares of FB, Berkshire Hathaway, Amazon, Tesla, and Microsoft sold to pay the taxes that the market would crash and us poor suckers holding those things in our 401ks would get killed again.

This billionaire/corporate tax is just a ruse and will die.

It will never happen, but a flat tax on all earnings for “everyone” is what I prefer.

If you think this won't gradually seep down to us regular folks, you don't know history. The billionaires will find ways around it, and us regular folks will feel the pain. They know this, and it is done on purpose.

A tax on unrealized capital gains will destroy our free enterprise/capitalism system..... or I should say be the final killing blow

The Dems have a majority in the House and with the VP, a majority in the Senate. If it doesn't pass, it is because the Ds don't want to pass it.

How is this ^^^part written?
Value of stock/fund X on 1/1/XXXX vs. 12/31/XXXX ?

If this passes the rich will sell off what they will be taxed on, correct? What will all that do to the working family's retirement investment? You can bet your last dollar that those in congress will be setting themselves up to not suffer any loss and helping their buddies that keep the cash flowing into their pockets.