Rich Americans Face Biden Tax Hike With Anger, Denial and Grief
(Bloomberg) -- Charles Myers was sitting in a first-class seat on a flight from New York to Dallas when his phone started blowing up Thursday. News had just broken that the wealthiest Americans could soon face a tax rate as high as 43.4% on gains from their investments.
“Raising capital gains taxes hurts the capital markets,” he said in a text message. “Better to raise the personal top marginal rate and estate tax. Leave capital gains and dividends alone.”
Myers has raised funds for Joe Biden, and wasn’t shocked by the White House’s plan because it was part of the president’s campaign. But the donor doesn’t think that 43.4% rate will make it into final legislation.
As the plane descended, he added: “Over-taxing success is un-American.”
(Their usual blah blah blah B.S. about disincentivizing the "job creators".)
13 comments:
OMG!
They are already very very wealthy and still don't want to do their part for the good of ALL Americans.
What I used to say: they pay their pound of butter the same than us but it's more like a small drop in the ocean of their income.
As many Americans are struggling to even put 3 meals on the table of their family, their concern about this new tax is outrageous.
JiEL - I totally agree! It's thoroughly disgusting.
tax should be based on what you make. Why should a poor person pay the same taxes as a billionaire? They are only upset because they are fuckin greedy bastards. But they have no problem spending $75,ooo or more on a car, or $6 mil for a mansion. People with wealth like Elon Musk and such will never spend half their wealth in this lifetime.
This country is getting ridiculous.
Hi, I log on to your new stuff on a regular basis. Your humoristic style is witty,
keep it up!
Mistress Maddie - I feel your sentiment. However, you are really a low-ball spender. Those car and mansion prices are peanuts to the super rich. But you are right: this country is getting ridiculous.
Anon@5:00pm - Thanks.
Cry me a fucking river!
Such liars. If they don't invest in the economy... they make no money. So F that argument. It's time we call them on it. The only people who profit from not taxing the rich? The rich. Eat 'em. Despise their greedy, grubby, fatty hearts.
Unknown@7:40pm - Absolutely.
uptonking - I'm right there with you.
Oh, my poor brother has been on a vulgarity-ridden rant that turned the air blue over taxes on capital gains from a stock sale. Poor, poor guy. See, he's not rich enough to be hit by Warren's proposal, and he's not poor enough to get any of the stimulus money. He has the tax increases of '25, '27, and '29 his hero pushed through to look forward to. The poor baby.... LOL
whkattk - What a bummer. NOT.
The fuckers can cry me a river!
Unknown@9:19pm - Absolutely!
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