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I want to agree with you here, and yet I can't fully. Whatever system we have will be somewhat gamed, but its become now a bit of a ridiculous joke. If everyone in America can pledge stock and take out loans or carry forward forever, there is never a taxable event. There needs to be a way to bring back equity to the system and overtaxing at the $400,000 mark as Biden is proposing is not any better as it still leaves everyone at the mega level untouched as they have tiny incomes relative to their net worth. Buffet is giving away 99% of his net worth anyway, so are many others -- 100% of us are going to die. Is this the best we can do for humanity, really? I don't know if the government is the best steward of our funds, maybe it is more local, but the USA looks really bad next to us here in Europe. I used to think that Europe was taxed very high, but really the opposite is true. Americans pay other taxes that end up being so much more expensive for crap services like healthcare and schooling, while we have awesome infrastructure and great mass transit.
Absolutely absurd. If the government was a startup company, investors would stop funding it because they are wasting our funds and have no idea what they are doing (or worse, they are doing it on purpose). Rather than judiciously allocating the budget, the government persistently milks its citizens for more money, facing no repercussions for its continuous fiscal recklessness. They have no disincentive to keep doing so...
Taxing unrealized gains is so moronic I thought a six year old came up with it. Every day our government exceeds expectations for how clueless they are. Bitcoin to $1m here we go.
The surge in annual interest expenses on US debt, now at $1.1 trillion, reflects a concerning trend exacerbated by soaring debt levels since 2020. Tax proposals, including taxing unrealized gains, spark outrage as citizens face potential financial strain, highlighting the complexities of fiscal policy and its implications for the economy. This is alarming but I guess the government knows that and do not care how it’s citizens may respond
Hey Pomp, everyone talks about raising taxes, inflating the money and cutting expenditures as the only ways out of the problem, but the other option is to grow (real) GDP faster than the debt. Easier said than done of course, but why aren't more people talking about incentives and policies to stimulate growth?
With the people our country votes into office, can we really expect any better?!? There is so much troubling about the current state of affairs on both sides of the isle in DC - where to start?
I want to agree with you here, and yet I can't fully. Whatever system we have will be somewhat gamed, but its become now a bit of a ridiculous joke. If everyone in America can pledge stock and take out loans or carry forward forever, there is never a taxable event. There needs to be a way to bring back equity to the system and overtaxing at the $400,000 mark as Biden is proposing is not any better as it still leaves everyone at the mega level untouched as they have tiny incomes relative to their net worth. Buffet is giving away 99% of his net worth anyway, so are many others -- 100% of us are going to die. Is this the best we can do for humanity, really? I don't know if the government is the best steward of our funds, maybe it is more local, but the USA looks really bad next to us here in Europe. I used to think that Europe was taxed very high, but really the opposite is true. Americans pay other taxes that end up being so much more expensive for crap services like healthcare and schooling, while we have awesome infrastructure and great mass transit.
Absolutely absurd. If the government was a startup company, investors would stop funding it because they are wasting our funds and have no idea what they are doing (or worse, they are doing it on purpose). Rather than judiciously allocating the budget, the government persistently milks its citizens for more money, facing no repercussions for its continuous fiscal recklessness. They have no disincentive to keep doing so...
Taxing unrealized gains is so moronic I thought a six year old came up with it. Every day our government exceeds expectations for how clueless they are. Bitcoin to $1m here we go.
I just wrote an article related to this subject, you guys might want to check it out if interested.
https://open.substack.com/pub/thepanoramapress/p/raise-taxes-or-print-more-money?r=3hyaiy&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true
The surge in annual interest expenses on US debt, now at $1.1 trillion, reflects a concerning trend exacerbated by soaring debt levels since 2020. Tax proposals, including taxing unrealized gains, spark outrage as citizens face potential financial strain, highlighting the complexities of fiscal policy and its implications for the economy. This is alarming but I guess the government knows that and do not care how it’s citizens may respond
We want more discipline to cover for our high taxes
Hey Pomp, everyone talks about raising taxes, inflating the money and cutting expenditures as the only ways out of the problem, but the other option is to grow (real) GDP faster than the debt. Easier said than done of course, but why aren't more people talking about incentives and policies to stimulate growth?
In other news:
With the people our country votes into office, can we really expect any better?!? There is so much troubling about the current state of affairs on both sides of the isle in DC - where to start?