How Biden’s Re-Election Ends the US Economy

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Joe Biden wants to increase the top capital gains rate to 44.6%. China has very low capital gains, so who do you think will get the world’s business?

Let’s not forget there are state taxes, real estate taxes and fees on everything.

The Daily Mail noted that there are 11 states where Americans will face at least 50% capital gain tax under this plan. If the Biden plan passes, for the taxpayers caught by the new rule, here are the combined state and federal rates taxpayers might pay on their capital gains:

  1. California: 57.9%
  2. New York: 55.5%
  3. New Jersey: 55.5%
  4. Minnesota: 55.45%
  5. Oregon: 54.5%
  6. Maine: 51.75%
  7. Nebraska: 50.44%
  8. Idaho: 50.4%
  9. Iowa: 50.3%
  10. Kansas: 50.3%
  11. Georgia: 50.09%

No matter how much you make, if you own anything, you will pay half to the government when you sell. If you own a home for $500,000, you’ll get half. Do you own stocks? Is your business or pension invested in the market?

In China, if you have lived in a residence for five years, you pay nothing and can deduct losses from your taxes.

How do you think businesses will prosper?

Los Angeles imposed a 5% gross tax on homes sold last year, so no one is selling.

These taxes are taxes on taxes. George III is rolling in his grave, sad that he was born in the wrong century. His taxes would be nothing compared to these progressive communists. George taxed Americans 1. to 1.5%, and we fought a war over those taxes.

If Biden is re-elected, it will be the end because he will raise capital gains, and there is no end in sight. Several Progressives, including Bernie Sanders, said a 90% tax isn’t too much. They think your money is their money.

Biden will do it. He is owned by China.


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