Our current secretary of the Treasury, Janet Yellen, is busy trying to find a way to tax wealth without calling it taxing wealth. She has eyes on taxing unrealized capital gains. What this means simply is taxing people for money they have not earned or received. That’s it in a nutshell. That definition should leave even those who have never had a course in accounting or finance shaken.
Not only is Janet Yellen considering this, but the Democrat party is on board as well. Democrats claim that it is needed in order to pay for their agenda. You know — the one that President Biden says pays for itself. The idea of taxing you for the income you have not made is also a policy speaker of the House Nancy Pelosi proposes. Apparently, there is some confusion here.
Looking at this from my point of view, I recalled a picture of Casey Stengel, nicknamed “the ol’ Professor,” when he was the manager of the New York Mets in 1962 — a team considered the worst team to ever play in the major leagues. He had his hat off and scratched his head with the caption: “Can’t anybody here play this game?”
Think about how absurd this idea is. Imagine if an Internal Revenue Agent showed up at your house and said, we decided that you have to pay tax on the money you never earned. Aside from how insane that sounds on the surface, one need only ask: “If I didn’t receive or earn that money, with what do you expect me to pay the tax?” That, in a nutshell, is the entire problem.
This is not the first time the government and corporate officers have made this insane mistake. Our “smartest guys in the room” types keep proving they are anything but. There are more than enough lessons from history that show for a fact how ridiculous this idea is.
…
- THAILAND DECLARES DEATH CON 3 ON PFIZER
- SOMETHING HUGE IS COMING
- Israel is forming a military coalition to attack Iran (USA and France are already in)
- Project Veritas was shut down for asking the right questions
- We Are About To See The Biggest Escalation Of The War In Ukraine So Far
- Elon Musk: “It is a serious concern -> The damage done to the credibility of AI by ChatGPT engineers building in political bias is irreparable
- New Zealand Reddit Users Can’t Figure Out Why They Keep Getting More Sick and For Longer: “this time the phlegm is so bad it’s difficult to breathe…
- Don’t Be Stupid – The U.S. Economy Actually LOST 2.5 Million Jobs Last Month
- We Just Witnessed An Economic Sign That Hasn’t Happened Since The Peak Of The Great Depression In 1932
- Rishi Sunak – ‘We want to rewire the entire global financial system for net zero’
Views: 5