Big Blitz Posted August 14, 2022 Share Posted August 14, 2022 Link to comment Share on other sites More sharing options...
All_Pro_Bills Posted August 14, 2022 Share Posted August 14, 2022 4 hours ago, Big Blitz said: List of Tax Hikes Just Passed by Democrats - middle and lower incomes hardest hit - but we saved earth! Below is the list of tax increases included in Democrats’ tax-and-spend spree now passed by both the Senate and House: My personal favorite: $74 Billion Stock Tax Which Will Hit Your Nest Egg — 401(k)s, IRAs and Pension Plans When Americans choose to sell shares of stock back to a company, Democrats will impose a new federal excise tax which will reduce the value of household nest eggs. Raising taxes and restricting stock buybacks harms the retirement savings of any individual with a 401(k), IRA or pension plan. Union retirement plans will also be hit. The tax will put U.S. employers at a competitive disadvantage with China, which does not have such a tax. Stock buybacks help grow retirement accounts. Raising taxes and restricting buybacks would harm the 58 percent of Americans who own stock and more than 60 million workers invested in a 401(k). An additional 14.83 million Americans are invested in 529 education savings accounts. Retirement accounts hold the largest share of corporate stocks, accounting for roughly 37 percent of the outstanding $22.8 trillion in U.S. corporate stock, according to the Tax Foundation. In 2017, corporate-sponsored funds made up $4.45 trillion in market value; union-sponsored funds accounted for $409 billion; and public-sponsored funds, which benefit teachers and police officers, added up to $4.25 trillion. When companies perform stock buybacks, these investors are the ones who benefit. A tax on buybacks could dissuade companies from conducting this action and negatively impact retirement savings. https://www.atr.org/list-of-tax-hikes-just-passed-by-democrats/ I always suspected the primary objective behind corporate stock buyback programs was to increase the value of option-based executive compensation. Link to comment Share on other sites More sharing options...
Over 29 years of fanhood Posted August 14, 2022 Share Posted August 14, 2022 6 hours ago, Big Blitz said: Cult Link to comment Share on other sites More sharing options...
Doc Posted August 14, 2022 Share Posted August 14, 2022 They lie about everything else, why not the bills they pass? 1 Link to comment Share on other sites More sharing options...
B-Man Posted August 14, 2022 Share Posted August 14, 2022 Calling B.S. on White House Claims of No Increase in Audits for Middle Class. https://pjmedia.com/uncategorized/rick-moran/2022/08/13/calling-b-s-on-white-house-claims-of-no-increase-in-audits-for-middle-class-n1620733 . Link to comment Share on other sites More sharing options...
B-Man Posted August 15, 2022 Share Posted August 15, 2022 . Link to comment Share on other sites More sharing options...
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