Biden wants to increase taxes on all you rich working peeps.

[Rez Exelon]

I have been at the bottom. My wife was at the bottom. Life ain't fair and the world is mean.

Didn't realize "comrade" would offend you, I'll refrain from using that.

I've been at the bottom too --- but I'm also able to realize that I had more benefits to get where I am now than JUST my brain and the labor of my body. And I don't care about the term --- I care about the fact that you think it necessary to toss what appeared to be a derogatory term out for no reason. It undercuts any argument someone might make when they feel the need to toss something like that out.

 

[Blue Heeler]

This is expected from any Democrat ... they need to tax the poop out of everyone to pay for the free stuff they buy votes with.

People who voted for Biden ... from the guilt ridden to the loser underacheiver, will deflect away from the fiscal cost of his plans to whine about Trump and with that, use their whine as a virtue signal to their half baked loser friends (to add) and comrades.

 

[RickN]

He is a Democrat. Increasing taxes is what they do.

 

[Rez Exelon]

Those are some crazy numbers. 1st the profit being used is 25%. What time frame is that? 1 year, 5 years, 10 years. The comments seem like $50,000 is just going to magically appear. It doesn’t work like that.

The difference in 20% vs 40% in this example is the difference of making 20% vs 15%. For an average person that 5% may not seem like much. The difference in earning 15% vs 20% over 20 years on $200,000 is $4.4 million or ending with $3.3m vs $7.7M.

There’s an opportunity cost that investors or anyone will have when the money is used for one thing, there could be a cost by not using it somewhere else.

.gov taxation policy is used to pull intelligent investors around by the nose ring. Do you realize an individual can report loses every year with rental properties? What other business can you do that, none!. Essentially the .gov is paying you to lose money as you grow wealth. As long as there’s cash flow to live on, you are golden. You can retire a millionaire and pay very little in tax over your life. Unlike having a job and getting a paycheck that’s taxed as much as possible.

There’s a reason people stay poor. Follow the liberal mentality. It won’t matter how much money the .gov gives them, they will never succeed waiting on someone else to make them rich.

First off, it's called simplified numbers, so no they will not be rooted in reality. I don't get how you are saying 20 vs 40 is the same as 20 vs 15 so maybe your example could bear some clarification.

What I will say though --- is that whether after 20 years I have 3.3 million, 4.4 million or 7.7 million I bet I could live pretty comfy. I'm comfy right now with a lot less than that.

 

[SlugSlinger]

First off, it's called simplified numbers, so no they will not be rooted in reality. I don't get how you are saying 20 vs 40 is the same as 20 vs 15 so maybe your example could bear some clarification.

What I will say though --- is that whether after 20 years I have 3.3 million, 4.4 million or 7.7 million I bet I could live pretty comfy. I'm comfy right now with a lot less than that.

The 20% vs 40% tax rate equates into a investment return of 20% vs 15%. And unfortunately, we cannot count on those kind of returns year after year.

Here's an example of investing $5,000 in the stock market and growing exponentially at 10%, 15% and 20%. Check out the difference in earning a compounded 15% vs. 20% over 35 years.

 

[SlugSlinger]

The trick to gaining wealth is not spending money.

That's why the "experts" say never borrow against your retirement account. Any hiccup will stop the exponential growth.

 

[tRidiot]

Raising taxes on ANYONE isn't going to fix the problem. Raising taxes on millionaires isn't going to fix the problem.

The problem is overspending what we can afford. Period.

Right now we're printing money to artificially prop up a lifestyle and system that cannot continue.

Tax all you want.

I'll tell you, if you overtax me, I will stop working extra, stop buying extra, stop spending, saving and investing extra. I am one of those who will cut it back, flip the bird and walk away. Atlas Shrugged style. Uncle Joe and the Gang can keep printing money all they want. We're already seeing the pains of hyperinflation beginning... this isn't going to fix it.

 

[tRidiot]

That's why the "experts" say never borrow against your retirement account. Any hiccup will stop the exponential growth.

Sadly, so will a massively devalued national currency.

 

[SlugSlinger]

Sadly, so will a massively devalued national currency.

That’s going on right now. A lot of the money from the stimulus checks are going into the market. Driving the market up while the value of the dollar is dropping. In real terms, I suspect the market is remaining flat. And if someone is saving money in a bank account, they are losing real purchasing power!

 

[TedKennedy]

That’s going on right now. A lot of the money from the stimulus checks are going into the market. Driving the market up while the value of the dollar is dropping. In real terms, I suspect the market is remaining flat. And if someone is saving money in a bank account, they are losing real purchasing power!

Yep. Pretty soon the communist dream of equality will be real for the majority of Americans. Fat, stupid and poor.