Harris Plan Would Bring Tax Increases for Richest 1% and Cuts for the Bottom 99%

Unrealized gains tax. Lets fucking go.

I just get loans on untaxed offshore collateral and write it off as a business expense like everyone else, don't you?

I'm kinda thinking we maybe try trickle-up for a few years.

Unfortunately, the urine based system where richer people pee wealth on less rich people who then pee on poorer people and so on isn't sound economic theory. Call me surprised, and soaked in freedom pee.

Nothing trickles down, we have seen that for decades.

The data is in. Trickle down doesn’t work.

You mean 1%?

Strangely enough, most people will be in the top 5% at some point in their life. But just for a year, when they sell their house. So you're getting fucked 75 years of your life for maybe 1 year of benefit?

I am not from the US so might be wrong, but I think it works the same as in mine. It is because they tax income not wealth (which would be difficult I guess). Elon can probably live on $0 income very comfortably by his standard. More than 1% of income earners will be affected at some point as you age up, inheritance etc. Maybe not 30%

This isn’t Harris “play[ing] the tax card”, the article isn’t even referencing anything her campaign said.

FTA:

The new analysis from the Institute on Taxation and Economic Policy (ITEP) follows its in-depth examination of Trump's tax proposals, which the group found would cut taxes for the richest 5% of Americans and raise them for everyone else.

And directly from ITEP’s “Mission & History” page:

ITEP is a non-profit, non-partisan tax policy organization. We conduct rigorous analyses of tax and economic proposals and provide data-driven recommendations to shape equitable and sustainable tax systems.

Source: https://itep.org/about/

Based on the “equitable and sustainable” piece, ITEP probably slants left, sure, but I’d say that’s far more owing to conservative tax policy having no basis in being equitable or sustainable for the past four decades at least.

That all being said there’s literally no reason to make this a dig at Harris, because, you know, the article isn’t referencing anything she or her campaign has publicly said…

Oh fuck off, go vote for a nazi why don't you

There's a lot deleted here so I may have missed it but I'm just curious, what would you prefer her to say? Like you are totally right that politicians famously make promises they don't keep but would you prefer her to just say nothing? Or to say the opposite? The other guy has a plan that will increase taxes/costs on everyone but the top 5%. Is that better? Should he also not say anything?

You're being a bit obtuse and misleading here, clearly you didn't read the article.

For starters... its not an income level agnostic tax decrease. Its not a flat tax.

Its graduated. Progressive. And it decreases taxes for all but the wealthiest, whose taxes increase.

The group estimated that under Harris' proposals, the poorest 20% of Americans would see an average tax cut of $1,130 in 2026 while the richest 1% would see an average increase of $121,460.

Sad as it is, our political system offers a binary choice.

Would you perhaps prefer the alternative?

EDIT:

If Harris wins, we can also reasonably expect a continuation of the Biden policy of doing that other thing you want, the IRS actually going after people in the 'landlord' brackets for tax evasion.

Has that been as extensive as you or I would prefer?

No.

But the alternative is Trump, who, along with Elon, might just abolish the IRS, or massively defund those efforts.