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Presidential Election 2024

Rain Cold said:
This post and the one from Downeast proves a lack of understanding of basic economics, and greatly reduced your credibility on this issue.

Do you think people with over $100 mm have it all under their mattresses? What do you think will happen when Uber wealthy people, institutions, financial entities, etc. have to start paying taxes on all of their unrealized g/l? Lol you've got to be kidding
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I mean I guess they will have to sell one of their 17 yachts and maybe one of there 29 vacation homes. Possibly cancel a few trips to Vegas on their private jets. I’ll put up a little memorial in my home and thank them for their sacrifice every day before I go to work my 45hr a week job 🤷🏻‍♂️
 
Chattownsnow said:
I mean when you dig down

I think they will FINALLY be paying taxes at a percentage that reflects what you and I actually pay. That’s what I think
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I think is a great example of why listening to and voting on msm talking points and headlines is a mistake is why we are in the the sad shape we are as a society.
 
Chattownsnow said:
I mean those taxes would go to things taxes go to. I don’t foresee that really harming multimillionaires a whole lot. I see it benefitting us. Unrealized gains for them are on stocks, ect. That almost never sold and just inherited by whatever firm they own or past on to some other holding company. They make money from dividends and selling and diversifying and reallocated funds based on market patterns and what-not.
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Do you know why nobody F'd with us when Trump was president? Because they know he doesn't BS. Tariffs can work the same way.
 
Chattownsnow said:
I mean when you dig down

I think they will FINALLY be paying taxes at a percentage that reflects what you and I actually pay. That’s what I think
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If it is on corporations, they will just pass all of this down to all of us. They will not pay an extra dime in the end.
 
Chattownsnow said:
Show me? You have statistics? Because I do.

“Before accounting for behavioral effects, the $79 billion in higher tariffs amounts to an average annual tax increase on US households of $625. Based on actual revenue collections data, trade war tariffs have directly increased tax collections by $200 to $300 annually per US household, on average. Both estimates understate the cost to US households because they do not factor in the lost output, lower incomes, and loss in consumer choice the tariffs have caused” https://taxfoundation.org/research/all/federal/trump-tariffs-biden-tariffs/
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Now you're moving the goal posts.

You made the claim that Trump's tariffs would lead to an economic downturn and high infation.

That is, on its face, a baseless claim per historical data under Trump between January 2017 and February 2020.
 
JHS said:
That may true, but they will just pass all of this off on all of us. The Democrats know this. Bottom line is that it is a tax on ALL of us.
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That’s what I’m saying with the tariffs. The cost of goods are paid by the USA companies bringing them in. They raise the price and we pay the difference. That’s why it’s dumb. Harris also wants to create a panel to investigate price gouging by companies, but that’s another thing. The great thing about this tax on unrealized capital gains is that you are right, they will try and pass that on to us. But in America there is competition in a capitalist market. Those owning small businesses and making under 100m a year have a chance to offer goods and services CHEAPER than them or at least competitively. These are people in the USA selling services HERE. Tariffs interfere and make ALL of these people suffer both the 100m makers and smaller business both importing over seas. THATS THE KEY DIFFERENCE.
 
NorthDFWwx said:
Now you're moving the goal posts.

You made the claim that Trump's tariffs would lead to an economic downturn and high infation.

That is, on its face, a baseless claim per historical data under Trump between January 2017 and February 2020.
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Tariffs like he is proposing have never been implemented at the scale he is proposing unless you go WAY back to like the early 1900’s and 1800’s when this was the United States main source of income. Taxes on people were far less. No state or income taxes because most of the income came from these tariffs. Now do that, and keep the taxes we have now? Now you have a problem
 
Chattownsnow said:
That’s what I’m saying with the tariffs. The cost of goods are paid by the USA companies bringing them in. They raise the price and we pay the difference. That’s why it’s dumb. Harris also wants to create a panel to investigate price gouging by companies, but that’s another thing. The great thing about this tax on unrealized capital gains is that you are right, they will try and pass that on to us. But in America there is competition in a capitalist market. Those owning small businesses and making under 100m a year have a chance to offer goods and services CHEAPER than them or at least competitively. These are people in the USA selling services HERE. Tariffs interfere and make ALL of these people suffer both the 100m makers and smaller business both importing over seas. THATS THE KEY DIFFERENCE.
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Fair enough, that sound like it would be good thing.
 
Chattownsnow said:
Tariffs like he is proposing have never been implemented at the scale he is proposing unless you go WAY back to like the early 1900’s and 1800’s when this was the United States main source of income. Taxes on people were far less. No state or income taxes because most of the income came from these tariffs. Now do that, and keep the taxes we have now? Now you have a
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Sandbar said:
Do you know why nobody F'd with us when Trump was president? Because they know he doesn't BS. Tariffs can work the same way.
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They didn’t have to F with us the way to traditionally do because all they had to do was tell Trump he has an amazing golf swing and he was the smartest guy they knew and he would roll over and let them do whatever the hell they wanted. He has literally said it himself lol
 
Chattownsnow said:
They didn’t have to F with us the way to traditionally do because all they had to do was tell Trump he has an amazing golf swing and he was the smartest guy they knew and he would roll over and let them do whatever the hell they wanted. He has literally said it himself lol
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The easiest man on planet earth to manipulate.
 
Rain Cold said:
This is hilarious
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I mean I get your concern and I think most of us have the same concerns but just differ on how we solve them. I don’t agree with you and you don’t agree with me and you probably have some good points in a lot of areas that I may not understand quite as well as you. I’m no expert on economics but I did go to college and take courses on it because it interested me. From my knowledge this is how I see it and a lot of very smart economist see it the same way. I’m choosing to believe them. The people I know saying trumps plans are good… either don’t know anything about the subject those plans occupy, or are major outliers. And I’ve never believed a DGEX map I’ve seen. But they do score a coup every once and a while 🤷🏻‍♂️
 
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