@PepGuardiolan @PeterSchiff @ewarren And then they tax you on the value of your home after the renovations and then when you sell it. That is why taxing net worth is idiotic.
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Tee Gulish
15.4K posts
Tee Gulish
@TeeGulish
A constitutional originalist. Leaning more right as I get older. Love strategy wargaming.
Pennsylvania Katılım Mayıs 2015
125 Takip Edilen558 Takipçiler
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A wealth tax on the top .15% of the richest families would generate $6.2 trillion in revenue.
That could pay for:
Universal childcare
Millions of new homes
Slashing child poverty
Medicare for people aged 55+
Universal paid family leave
Tuition-free community college
And more.
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@SDElfrink @PeterSchiff @ewarren I don't trust the government at all, but a tax on net worth is not the issue. Look at the social security balance and how they tapped that to pay for programs we couldn't afford. Taxing people to have more unsustainable spending on the assumption we just tax people into oblivion?
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@VJKUTZ @JohnnyRocket353 @PeterSchiff @ewarren Then adjust interest rates, but a tax on a total net worth would risk destabilizing the whole system. When people have to pull money out to pay the government? Overspending on programs we have seen the government not be capable of such thing.
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@TeeGulish @JohnnyRocket353 @PeterSchiff @ewarren That’s what the wealthy do. They borrow against their holding at very low interest rates vs selling stocks as they would then have to pay tax on that.
It’s called screwing the American people for your own greed.
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@JohnnyRocket353 @Jon86454933 @PeterSchiff @ewarren It's not feeling bad for anyone, it's what is fair. When you renovate your home and the value goes up you pay the tax on that new value before your house is sold. Is that fair?
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@Jon86454933 @TeeGulish @PeterSchiff @ewarren There is absolutely nothing you can say to me in this convo that is going to make me feel bad for billionaires, or that would ever make me think the government taking a chunk off the top is stealing from them. So I'd just skip all that.
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@JohnnyRocket353 @PeterSchiff @ewarren Then it's no longer unrealized, it is a realized gain and should be taxed properly. There are loopholes that definitely need to be closed, but on overall net worth would take money out of the system if they don't have the actual liquid.
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@TeeGulish @PeterSchiff @ewarren If you're taking out a loan against your "unrealized gains" to buy a 400m yacht then you have most certainly realized a gain. That is the crux of the issue the Left wants to solve.
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@missD53577909 @GuntherEagleman @ewarren On unrealized gains. Elon Musk might have a few million in the bank but the majority of his wealth is tied to stocks/bonds as well as company performance. How can you take what is unrealized/immaterial?
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@TeeGulish @GuntherEagleman @ewarren Do you realize her wealth tax is not on yearly earned income? It is on an individual’s net worth.
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@criticalhitsTV @jondelarroz @grok Is the US one of the largest net exporters of petroleum products in the world? Despite still being a net importer of crude?
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@TeeGulish @jondelarroz No, you do not. But if you're right then problem solved. We should see Trump withdraw any minute now because the strait is no longer needed. Right?
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President Trump claims the tankers that left the Strait of Hormuz are now filling up in America:
"Boats are sailing up, heading to OUR country, big, beautiful tankers. We're loading them up with oil, gas, and everything else! It's a pretty beautiful thing to see."
Was this the plan all along?
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Honest question, isn't this solved by the Capital Gains tax? It seems the Left conflates earned income to unrealized gains. My example is renovating your home. Valued at $250k, and you do upgrades on that home and now valued at $400k. They want to tax that $150k immediately as earned income.
It holds then to stocks/bonds/etc that when the valuation changes and goes up, despite having no tangible wealth increase (unrealized) they immediately want to tax that as earned income despite it being immaterial.
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@ewarren Except that wealth is now doing more to raise the living standards of the poor and middle classes under private ownership than it will if confiscated by government. Your plan is not only bad economics, but it's also immoral and unconstitutional.
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Fraud is bad yes, but you're an idiot.
Are you talking about earned income or unrealized capital gains? Capital gains are already taxed up to 20% depending on income bracket and if high enough earner an additional 3.85% wealth tax.
So let's say the total gain is $10 million dollars when sold it is taxed 20% so 2 mill then the 3.85% so a further $385,000. For a total tax paid of $2,385,000. Which counts towards earned income.
For another example lets say your home is valued at $250,000 and you do renovations and upgrades and the new value is $400,000 they want to tax that $150,000 unrealized gain immediately as earned income. Notice what's wrong?
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@ewarren Stopping the FRAUD in our government could pay for all of that and more without taxing anyone anymore.
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Are you talking about earned income or unrealized capital gains? Capital gains are already taxed up to 20% depending on income bracket and if high enough earner an additional 3.85% wealth tax.
So let's say the total gain is $10 million dollars when sold it is taxed 20% so 2 mill then the 3.85% so a further $385,000. For a total tax paid of $2,385,000. Which counts towards earned income.
For another example lets say your home is valued at $250,000 and you do renovations and upgrades and the new value is $400,000 they want to tax that $150,000 unrealized gain immediately as earned income. Notice what's wrong?
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@Marloh_R He is nothing like Christ or the church left behind on Earth, and I say this as someone who is neither Catholic or Christian.
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Trump is nothing like Christ or the Church left here on Earth, and I say this as someone who is neither Catholic nor Christian. The value system that Christ endorsed is antithetical to whatever Trump is doing. And I say this as someone who voted for Trump in 2024, because Harris was absolutely the wrong choice as well.
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This image does NOT depict Donald Trump as Jesus.
The original post was shared back in February by @NickAdamsinUSA, and it shows President Trump carrying out God's work in healing and restoring our nation.
Context is everything, panicans—here is the actual original post for your reference:
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I am not appreciating how entwined the Church and State are becoming after this. We can all admit that Trump is nothing like Christ or the mortal church left behind. And picking a fight with the Pope doesn't seem like a constructive thing to do, but let's not wade to deeply into bringing the affairs of the Church into the institutions of the State.
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As a Catholic, I find it abhorrent that the President of the United States would publicly attack the Successor of St. Peter. Donald Trump is flailing. His war in Iran has led to the death and injury of American servicemembers and the death of Iranian children. He will attack anyone or anything to try to protect himself, even the Church that millions of Americans find faith and comfort in every day. The American people deserve a president who understands the consequences of his words and takes responsibility for his actions.
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Separation of Church and State firstly. Secondly he is nothing like Christ, does not embody the virtues of Christ on the Church left here on Earth. I am neither Catholic or Christian and I find this deeply offensive. The mental gymnastics of his most ardent supports defies logic. How can you support this?
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🚨 President Trump just posted this powerful painting on Truth Social.
Trump stands radiant in a red robe, laying hands on a sick man while surrounded by American symbols, the flag, eagles, fighter jets, the Statue of Liberty, and everyday heroes.
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@dom_lucre I'm not Catholic/Christian by any stretch of the word and Trump embodies none of the virtues that Christ would want. And as Pope? They are men and men are flawed things. Arrogance and pride leads to a fall. I voted for Trump because I refused to vote for Harris.
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Is it possible that President Trump depicted himself as a Pope and not Jesus? The Truth Social post came shortly after he made a statement against Pope Leo.
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@NickAdamsinUSA I'm not Christian/Catholic at all and this is in bad taste. Trump is nothing like Christ. I am coming to regret my 2024 vote, but if there were a better candidate than Harris running against him.
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@jondelarroz Admitting they were wrong is antithetical to their worldview.
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What I would do if I were in charge of Star Trek (but seriously):
Solicit pitches from writers who have never worked on Trek, episodic format, no legacy characters, no explicit sequels/prequels. Pick the best pitch, hire a diverse cast/crew, let 'em make their show. That's it.
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I voted for Trump because when I compared him to Harris I believed he was a better candidate. Did NATO and trade balance need to be addressed? Yes, but in the way he did it? Not so sure.
I am not Catholic, nor am I overly Christian. Separation of Church and State and all that good stuff. Why pick a fight with the Pope? There are a lot of Catholics in this country. Did we need to start a war with Iran right now? Why did we back Orban and not the democratic candidate?
At this point as a person who voted for Trump only in 2024, I support his removal from office. Not just because he released an image of Trump as Jesus. But for all the geopolitical nonsense he has started. Get him out of office immediately.
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