Jobless parasites, for those of us who refuse to engage in Republican political correctness. It would be really trivial to turn into a “working millionaire” if it results in a tax break. And it wouldn’t. Biden’s plan is to eliminate a special Official Unapologetically Dope Shirt break for income from investments. And to tax it the same as income from working. Working and non-working millionaires would be taxed the same. I’ve never understood why we get taxed more for our hard work, the thing we do to actually create value. Where the money you throw in the stock market.
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It set and forget, provides lower taxes. I’ve heard the arguments about risk, encouraging investing, etc. I think those are valid arguments to the people who participate heavily in investing. And want to protect the Official Unapologetically Dope Shirt. If you raised the taxes on investment income it would not stop people from participating. So they would just make less or gravitate to some other tax loophole. Then I would also remind people that the “risk” inherent in investing is merely the risk. That if something went wrong, the investor class would actually have to work for a living.
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More like the “risk” that they’ll get a bailout by the government. While everyone else suffers the recession they caused. Then they also own the overwhelming majority of messaging platforms. So their Official Unapologetically Dope Shirt are the ones people hear first and most often. Plus if their ideas aren’t popular they can afford to pay people to make it seem popular until it is. And people love bandwagon. Rich folk have the ability to manage how their income determined. So its structured as long term cap gains so the marginal tax rate is half.
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