The Harris Doctrine

#203
#203
Thunder Good-Oil said:
It’s just stupid. I don’t know why the government servants can’t focus solely on growing company profits and employee wages. That is how to make the economy thrive. It generates more income taxes than a wealth (envy) tax ever could.

Taking investment capital away from those innovating, growing businesses, and hiring employees is just plain dumb.
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I don't think their main concern is doing what's best for the US. I doubt those in govt would admit error when faced with it. They have control and want to keep it. They want to pick winners and losers.
 
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#210
#210
FortSanders said:
Harris has proposed a 25% tax on unrealized gains on capital assets. A capital asset is anything including stocks, bonds, gold, houses, 401ks, etc. She has also proposed increasing long term capital gains at 44.6%

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Taxing our way to prosperity. Anybody that thinks this a good idea is dumber than dumb.
 
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#212
#212
LibertyVol said:
Taxing our way to prosperity. Anybody that thinks this a good idea is dumber than dumb.
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Its basically mark to market for the whole economy with money due on the gain. A corporation could be sitting on $100s of billions or more of unrealized gains which they will have to pay year 1. These assets could have been bought a 100+ years ago. Large corporations would have to immediately start fire sale especially on stuff that isn't productive but someone could assess.

Basically it would most likely be the end of property rights as we know it and probably the whole system. If they can tax the unrealized gain i.e. not income than why can't they tax the unrealized losses? If they can tax a theory, I see no reason why they can't tax the loss as well.
 
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#214
#214
utvolpj said:
Dimon has Trump's ear and he is also calling for increased taxes without cutting spending
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There isn't much anyone can do, we're winding down the current cycle of attaching interest to the medium of exchange i.e. reset. The federal reserve was able to punt it from 2008 but at some point the levee will break.

If the U.S. drastically cuts spending, the system will collapse.

Human have no ability to demand/supply at an exponential rate long term, we're way past the nature reset point now. Basically, using an equation that requires God like power with finite resources and humans. Humans will lose like they always do.


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#219
#219
#223
#223
Still had the subscription issue. Found the interview with PBS for anyone having the same problem as me.

www.pbs.org

Jamie Dimon on how economic inequality fueled political polarization and what can be done

From trade to diversity to immigration, many U.S. corporations are navigating a divisive political climate on a range of issues that impact their businesses. The CEO of the nation’s largest bank, Jamie Dimon of JPMorgan Chase, has been speaking out about some of these. Judy Woodruff spoke with...
www.pbs.org www.pbs.org
 
#224
#224
FortSanders said:
All of this, including the proposed confiscatory tax on capital assets and increased capital gains taxes, are precursors to demands for reparations. If we pay reparations to Indians, why not pay reparations to blacks?
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I expect to receive my fair share of reparations. One of my Scandinavian great grandfathers died in a construction accident while building infrastructure 115 years ago. That dam in Minnesota didn’t have a safety net to catch him when he fell.
 
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