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Biden/Schumer/Pelosi Accountability Thread

Wasn’t there a hearing recently where the take away was we are missing 1 trillion every year from current tax enforcement, probably should start there.
 
Isn’t the proposed cap gains increase only on people making more than $1 million a year?
 
TownieDeac said:
https://www.dailyposter.com/p/dems-somehow-pretend-this-mostly

seems bad
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Hmmm...I agree it’s dishonest to couch SALT deduction limit repeal in terms of primarily helping the middle class. Nonetheless, the limits put in place should probably be either significantly adjusted or eliminated, IMO.

Your link included a reference to this piece, which I’ve only skimmed. But seems like possibly a fairly straightforward way to raise taxes/revenue in a reasonably progressive manner.


A Proposal to Simplify President Biden’s Campaign Plan for Personal Income Taxes and Replace the Cap on SALT Deductions
 
DeaconCav06 said:
I don’t think cap gains moves. It’s one of those “rich people” things that are actually attainable for a large part of America.

I’d bet the corporate rate and individual max rate go up. There was also a very lengthy article in the WSJ this week on increased enforcement for high net worth individuals. That would be a huge step on getting more revenue through the door.
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meh, capital gains tax might be "attainable" to folks, but only 50% of Americans have exposure to the stock market, I believe and the top, say, 10% probably account for like 95% of capital gains (pure guess)
 
Yeah. People from upper middle class backgrounds severely overestimate how Americans interact with the stock market. Most people just work for a living and save what they can.
 
every picture of Biden is the exact same: eyes squinted, two arms out, 90 degrees at the elbow, shoulder square
 
 
@deaconcav06 or other #taxogb: what are you hearing about dividend rates? It has been nice to not have to plan around the disconnect between dividends and cap gains rates. We will have to dust off old slide decks for Zenz planning, etc.
 
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Also read that Marijuana is now considered a racist term, so it is #Canceled. It prefers to go by They/Them Cannabis.

If you didn't know cannabis is pretentious for weed.
 
Based on those poll tweets, much of those changes may simply be because 18-29 year olds are around 51% white nowadays compared to something like 57% white in 2009.

If Biden legalized weed, I think people who already like him would like him more and people who don't like him would continue to not like him while they smoked legal weed. I don't think it would be a massive change, but maybe enough to boost Democrats in close races like Florida.
 
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JuiceCrewAllStar said:
meh, capital gains tax might be "attainable" to folks, but only 50% of Americans have exposure to the stock market, I believe and the top, say, 10% probably account for like 95% of capital gains (pure guess)
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It doesn’t matter. It would be wildly politically unpopular. An infinitesimal number of estates pay any estate tax but it’s politically popular to reduce it because we are -at our core - a nation of dreamers.
 
Do people really oppose the estate tax out of principle? Or do they just not realize that it applies to significantly less than 1% of estates?
 
I think people just react to taxes: bad

seems like a messaging problem re: cap gains taxes -- I also can't find much public opinion data on capital gains rates, any links?
 
If it were an increase on all capital gains, sure. It's an increase on gains over $1M. That affects such a small % of Americans. Combine it with paid family leave and free community college and it would be a popular bill with the middle class. Maybe not politically popular though.
 
PhDeac said:
Based on those poll tweets, much of those changes may simply be because 18-29 year olds are around 51% white nowadays compared to something like 57% white in 2009.

If Biden legalized weed, I think people who already like him would like him more and people who don't like him would continue to not like him while they smoked legal weed. I don't think it would be a massive change, but maybe enough to boost Democrats in close races like Florida.
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Your first point is interesting to consider.

On your second, there are probably some politically disinterested young people who would be moved to a favorable opinion by legalization.
 
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