We’ve heard a lot of negative things from Democrats and the media regarding the Republican’s tax plan, but where’s the Democrat’s plan? The fact is, they have nothing official. They did say they’d like to increase the Capital Gains Tax and lower the amount of money where an Inheritance Tax would kick in. The following are just a few problems with some of the Democrats’ ideas regarding changing the tax code:
1) Why would we want to discourage investments? The stock market is doing great and jobs are being created at a good pace. Increasing capital gains taxes, like Democrats want to do, causes people with wealth to find other ways outside of the U.S. to invest. Some would rather just keep their money in the bank because it could be worth more there then on the outside getting taxed over 50%.
If people are unjustly hit with additional taxes for investing their money in our country, they can work it to where none of us benefit from the wealth they've accumulated. The heavy-hitter tax attorneys in their world are making around $1,000 an hour so they're perfectly fine with sitting around negotiation tables for years at a time, talking about how great their knowledge is of the judicial system. Needless to say, the government doesn’t have a stellar record as a respected adversary when it comes to higher-end laws in reference to legal codes and standards.
2) Democrats want to go after the inheritance tax. Could you imagine a scenario where your parents worked their tails off to keep the family afloat including paying taxes every step of the way (up to 75% because of income, personal property, property, sales, etc.), and the government wants to tax you for receiving money you are due that has already been taxed. I find this disgusting.
There have been many cases of small family farms who don't have much annual income but have assets (i.e. land, tractor, etc.), so when the children receive their inheritance the government only cares about the value of the things they're getting. In other words, the only way they could pay the inheritance taxes would be to sale the assets; of course the family farm would no longer be in business if this happened because they wouldn’t have the farm equipment necessary to work the land.
I grew up in farming country and auctions were common as these families needed money to pay the government. If my parents would've kept their small farm this is exactly what would've happened to us kids. This is the kind of thing our forefathers would've gone to war about. These recommendations by Democrats are the epitome of tyranny.
There’s more than the above as Democrats want to increase taxes on the rich. Good luck finding out who they say the rich are or the tax brackets they want to assign. Good luck getting them to say how much additional tax revenue would be generated by taxing these rich people and whether it’s enough to offset new line-item expenditures for things like paying for abortions, college educations, paying off college debt, medical care, etc.
If Democrats really want everyone to pay their fair share why aren’t they on board with a flat tax with no deductions? Someone making $100,000 with a 20% tax rate would pay $20,000 and someone making $40,000 would pay $8,000. Have you ever asked yourself the question, why don't they want a flat tax? It's because they don't really care about everyone paying their fair share it's just a vehicle to pitch the poor versus the rich. It's for political fodder to get them elected in acting like they're fighting the good fight for the disadvantaged, marginalized, oppressed, etc. It’s a game where the elites think we’re a bunch of idiots because some of them think we really believe what they’re saying.
Democrats know the above truths regarding taxes, but they choose to divide the country instead. Therefore, I'm constantly saying they've become more dangerous to our country than terrorists.
1) Why would we want to discourage investments? The stock market is doing great and jobs are being created at a good pace. Increasing capital gains taxes, like Democrats want to do, causes people with wealth to find other ways outside of the U.S. to invest. Some would rather just keep their money in the bank because it could be worth more there then on the outside getting taxed over 50%.
If people are unjustly hit with additional taxes for investing their money in our country, they can work it to where none of us benefit from the wealth they've accumulated. The heavy-hitter tax attorneys in their world are making around $1,000 an hour so they're perfectly fine with sitting around negotiation tables for years at a time, talking about how great their knowledge is of the judicial system. Needless to say, the government doesn’t have a stellar record as a respected adversary when it comes to higher-end laws in reference to legal codes and standards.
2) Democrats want to go after the inheritance tax. Could you imagine a scenario where your parents worked their tails off to keep the family afloat including paying taxes every step of the way (up to 75% because of income, personal property, property, sales, etc.), and the government wants to tax you for receiving money you are due that has already been taxed. I find this disgusting.
There have been many cases of small family farms who don't have much annual income but have assets (i.e. land, tractor, etc.), so when the children receive their inheritance the government only cares about the value of the things they're getting. In other words, the only way they could pay the inheritance taxes would be to sale the assets; of course the family farm would no longer be in business if this happened because they wouldn’t have the farm equipment necessary to work the land.
I grew up in farming country and auctions were common as these families needed money to pay the government. If my parents would've kept their small farm this is exactly what would've happened to us kids. This is the kind of thing our forefathers would've gone to war about. These recommendations by Democrats are the epitome of tyranny.
There’s more than the above as Democrats want to increase taxes on the rich. Good luck finding out who they say the rich are or the tax brackets they want to assign. Good luck getting them to say how much additional tax revenue would be generated by taxing these rich people and whether it’s enough to offset new line-item expenditures for things like paying for abortions, college educations, paying off college debt, medical care, etc.
If Democrats really want everyone to pay their fair share why aren’t they on board with a flat tax with no deductions? Someone making $100,000 with a 20% tax rate would pay $20,000 and someone making $40,000 would pay $8,000. Have you ever asked yourself the question, why don't they want a flat tax? It's because they don't really care about everyone paying their fair share it's just a vehicle to pitch the poor versus the rich. It's for political fodder to get them elected in acting like they're fighting the good fight for the disadvantaged, marginalized, oppressed, etc. It’s a game where the elites think we’re a bunch of idiots because some of them think we really believe what they’re saying.
Democrats know the above truths regarding taxes, but they choose to divide the country instead. Therefore, I'm constantly saying they've become more dangerous to our country than terrorists.
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