How Kamala Harris’s $4 Trillion Tax Plan Will DESTROY The Economy
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- Опубликовано: 24 сен 2024
- Patrick Bet-David explains how the Kamala Harris $4 Trillion Dollar Tax Plan could impact you in this informative video. Understand the implications and stay informed!
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The average person has never been so poor. Millions of families are struggling financially as living expenses hit the highest levels in more than four decades. Over 60% of our country lives paycheck to paycheck and about 40% earns poverty wages. Even after working all their lives, more than a quarter of older people have no savings and many believe they will never be able to retire in dignity, while around 55% of elderly people try to survive on an income of less than 25,000 a year.
Biden is worst thing that happened to us
TRUMP 2024
Given the prevailing market conditions and the potential risks associated with the current economy, I would recommend refraining from investing in stocks for now. Instead, it would be prudent to consider retaining a portion of your assets in gold. Alternatively, seeking advice from a financial advisor could provide valuable guidance in this matter
Fantastic! Can you share more details?
I was guided tho..Julia Hope Marble. walked me through the ropes majestically i'ts my ultimate pleasure.
It's the wasteful spending, not the taxes. $42 Billion on "broadband internet" & little/no progress. Press F
Wasteful spending, inefficiency… taking the smallest wages for income tax. Just to have a big agency of people shuffle paperwork to get it back. Giving large city contracts to companies that inflate cost on the public for personal gain. The owner of a local company took half, the rest covered the materials and laborers. Basically 100% inflation on the cost that would be better divided to all the workers not given half to one person for essentially nothing but landing the contract for work.
They use our tax dollars to fund the Ukrainian war. Whoever supports this is an enemy to people that want to live a normal, peaceful life.
It’s called corruption and pocketing money
Recall the top 1 percent ? Well think hard because it may come with the next 2 percent if Trump gets enough donations and a pardon or two.
F
This entire segment should be broadcasted on every major news network in the world.
Do you actually think those loony left media outlets would actually tell the truth and facts?
That what happens when a politician, who has no background in economics and finance, runs a country like a clown.
Come on now! She was raised as middle class and her neighbor was a small business owner. Tons of experience!
@@brianoconner3090 Atlas is gonna shrug SO hard if this ever gets out into action.
That's why people are calling her Marxist
@@alirezaabbasibizzareadvent3169people are calling her that because it’s true if you look up who her dad is, what he studied, and when you actually pay attention to what she aligns to.
@@mjov6655 Don't forget she also took care of her lawn.
That Tax Plan is really scary, I assure you 95% of the Kamala’s voters are not aware about the risks that plan imposes if implemented, short/mid and long term. As a Legal immigrant coming from a Socialist high tax country (Brazil) I have to say, that can be the beginning of the end of this great country. Next step would be to grow the government exponentially, making everything worse. I am here for 5 years and I am watching it closely, I have to say that I am SUPER concerned and even thinking about a plan B for my family already. God bless this country.
They cheated the election in 2020 and installed a demented vegetable that couldn’t even last 3.5 years. I am scared what’s stopping them from cheating the 2024 election and imposing all their communist policies on innocent Americans.
Totally agree.
Kamala voters are too busy decorating pride flag and coming up with new pronouns. Economy’s the last thing on their minds.
95% of kamala voters dont even exist
Relax America will be fine. You guys literally print the dollar while the rest of the world scrambles for it. Even if it fails. America will be fine.
I'm a tax professional at a big name tax filing agency and what people don't understand is "trickle down Economics". There is no such thing as JUST tax the rich, because working with rich people's taxes everyday they are going to try and cut cost somewhere else if taxes get more expensive. it's how a business works, you tax all billionares the cost will TRICKLE DOWN to the average person, they will pay the price so heavily. Our economy is already strained, credit cards at an all time high, auto loan delinquency soaring and THIS IS HER PLAN? It's complete insanity.
Being a tax professional and being an expert in economics are two different horses. trickle down economics is a invalidated myth.
@@cybernikolaus expenses always trickle down, savings don't.
@@cybernikolausyou ever think and wonder the companies will try a loophole like they do always. If you tax the Rich heavily. It will force them to off shore more, workers will get fired/moved, they won’t invest heavily to improve their productivity, they will cut ads and people like content creators will take blow of their revenue goes down cause the companies ain’t doing much ads on platforms.
Sure small business can rise but they will take the hit too if the unrealized game tax happens to them too.
It’s pretty obvious that it’s going effect every business.
I say it’s worse than printing money cause with inflation you can stable it in the future. With this well it just makes loopholes on companies and force them to do something crazy.
You need to interview KH
@russsle Clinton did it and so did Obama!!!
Single biggest reason NOT to vote Harris
The border is way worse than this. There are many reasons not to vote for her, the tax plan is not tops on the list by a long shot, even if it is bad.
It would probably help cool off this crazy market so who knows. Can't say anyone I know is to worried
Trump plan would definitely hurt us with his big rich tax breaks
@@livelyartichoke1543
Cool off the market?
That's putting it mildly😂
The single biggest reason begins with her continued unconditional support of a war criminal but then Trump will double down on that.
Its like when Michelle Obama and Oprah Winfrey gave us lectures about how the rich are not paying their fair share... let that sink in...
The sad and scary part of that is that there are many people out there that swallowed that BS...can't believe how ignorant people can be.
same as we have to reduce our "carbon footprint"..who got here to tell us in private jets adn limos.
I mean trump only paid around $700 in taxes. But he a millionaire. Sooooo
😂 camel eye of the needle than rich..heaven. is true but still kamala will destroy the economy. And the extra money wouldn't be spend the national debt. If the government was debt free 9 years x 4 is 36 trillion they could spent more in the 10th year without the enormous interest on debt.
@@keystorm8598I'd love to see a source for that. Lets get Bidens, Kamalas, and Killary's as well. thats called knowing how to file your taxes effectively and using the tax breaks.
Many ppl thinks that business owner doesn't pay any taxes. Not true..i am a business owner and I pay my fair share of taxes and I have 8 employees that has stable income and not living on the street. It's not the business that is the problem, is our crooked gov.
Exactly! They wanna make the rich seem like the bad guy when they all got a different agenda, why “ Punish” the rich for making their living?
The future problems that our corrupt government will do is to limit us from getting rich.
They're the top 1% of the 1% and wants everybody else poor so that they've no competition.
All of them are working together and the perfect example for this is Blackrock/Vanguard.
Who basically owns half of the world's biggest companies already it's their monopoly game.
If you come with the cure to cancer with some new technology they're the ones
who will buy you out and only keep for themselves meanwhile let the world suffer.
Only they get the best care of everything as they've created the difference between
rich vs poor by stealing from others in this case the majority of all who pays taxes..
Like Patrick said they can say they want to build a new power plant it's gonna cost
and everyone is automatically paying through tax system money including funding wars.
By wars I mean war in Ukraine it's them against Russia, China who they are against.
Trump has to win or there will be civil wars and war will be all over Europe!
That’s what happens when the ppl give all the power to the government 🤷🏾♂️
Dumb take
Thats what happens when the e leet infiltrate the government
Both government and also people can have crazy ideas …People and government have to work in unison …neither can have total power to control everything. Just think of it as a husband and wife. They are supposed to compliment each other not take advantage of each other. Giving handouts to people without them doing nothing to earn it is bad and also taxing people into oblivion is equally bad
@@FactsMatter999 Yea too much for the people will basically lead to the thing you are trying to avoid in the first place, for example a company owning everything basically a government
@@novazz5111 this is why even in the Bible you couldn’t be a king and a high priest at the same time. If you are a king with the power to call yourself a high priest then you could easily declare yourself God and make everyone worship you. If you were a priest that can also be a king (a pope) then you get the inquisition …both are equally disastrous. There needs to be a balance of power in all aspects of human life. When a business has all the power you get Ticket Master who can legally ab$ use at will both the artist and the fan base without any repercussions
The answer is not more taxes, its less tax and less government. People are crazy
Lol, that exact mindset is the reason Republicans F everything up every time they're in power
exactly...if Goldman Sachs supports Harris and her plan, that should be reason enough to vote against her...
Cause cutting taxes for the rich people is good for the poor 😂
Our government is so bloated with useless spending and useless positions. The federal government is the biggest corporation with over 3 million employees. We need to cut back on federal spending and government jobs.
@@venicebeachsportsnetwork6677
Cut or raise, what really matter is what the gov does with the money. They are wasting it especially with the free stuff for illegals and wars. Democrats are about more and more gov and spending so is that what you advocate for?
Make 100 videos on this please.
We need to educate America on this!
100% agree , WOW we all need to get more educated like this to make informed decisions and Vote for true prosperity and health (on every level) ✨️ 🙏 🇺🇸 🕊
It took me over 3 years to get a simple overpayment refund from the IRS.
Imagine paying unrealized gains, then taking a huge loss and then trying to get your money back from the government. GOOD FUCKING LUCK!
@@Thepippinator2 that is so true...dangerous territory to take money that you may have to give back later...good luck to the American people if Harris wins
and it took me 10 days. So there is that...
@@ztuner7765 Have you ever received and/or responded to a CP2000 before?
That's happening in Brasil. Taxes and more taxes to pay for the absurd government spending. And companies are going broke.
So it's not only in Nigeria 😊
Ditto for KommieFornia.
I was in Brazil and I noticed that most airports are stuck in the 70’S
It looked like the government doesn’t make any infrastructure improvements. Brazilians are so involved in fitness and how they look and how they present themselves to others.
Harris lacks the exposure to tackle the economic situation of this country. Trump is more open minded to trying out new things. At this point I don't know who will win. Am I better off re-investing into Gold as it seems stocks are a little too unstable right now?
Knowledgeable Investors know where and how to invest their money to reduce risk and maximize returns. See a market strategist with experience if you are unable to manage these market conditions.
The issue is most people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt, no offense. In general, Financial Consultants are ideal reps for investing jobs, and at firsthand encounter, since Jan.2020, amidst covid outbreak, my portfolio has yielded massively in ROI, summing up to 7-figures as of today.
Mind if I ask you to recommend this particular coach you using their service? Seems you've figured it all out.
I work with "Monica Shawn Marti" and we've been working together for almost four years and she's fantastic. You could pursue her if she meets your requirements. I agree with her.
I really appreciate your useful advice. I was able to set up a call with her and confirm her identity. She seems incredibly knowledgeable, and I hope I'm able to connect with her.
I have a family member who works for the government, and said they will vote for whoever raises their salary. We as a country need to shrink our government.
The amount of people sucking on the tit of government is disgusting! Our government is bloated and corrupt. We need to take the power back and vote for politicians who will shrink our government and disband our wasteful government institutions!
Unfortunately, that's the way a lot of Americans think these days. It's a narcissistic view with no consideration for the good of the country and they don't even realize that if the country fails they'll go down with the ship. Stupidity and greed are not a good combination.
Great point!
@californiacavemandastardly6538 don't most people vote for their own best interest???
@@sevensages5279no only people in 3rd world countries
People, you may not like Trump, but we can not afford another 4+yrs of this economy. Please vote Red 🗳
Not even an option... Kamala is the doom and gloom of whats to come. We can avoid it by just taking your feelings and say shut the fuck up. Vote Trump
EXACTLY
We are in this economy because of trump. Get your head out of the sand.
Spoiler alert the economy's already fucked
Pat you need to run a $1000 a day ad to this video between now and November so people actually see this and hopefully see sense.
Taxing unrealized gains is absurd. Imagine you plant 10 acres of corn, and halfway through the season, the government demands the yield from 4 acres. If a blight then wipes out 7 acres by August, the government still expects that yield, regardless of your loss. They would take from the 3 acres left and might even seize more land to cover the shortfall “you will own nothing and will be happy”
Wow. Not good
That’s not how it works but ok
@@Alexandria-hq1uyplease explain then 😉
@@Alexandria-hq1uyWell tell us how it works then😂
@@stevefisher962C’mon give the Liberal a break, they’re still trying to figure out what woman is
Stop the insanity! Vote Trump 2024!❤️🇺🇸
Trump is THE
insanity
😂😂😂
@@sevensages5279cackala is psychotic.
only a fool would vote for Trump......I don't like Harris, but she's better than trump.....I repeat, only a fool would vote for trump
@@sevensages5279he's the Insanity you need without ALL the stupidity you've been getting the last 3.5.yrs
Absolutely ❤❤❤❤❤
The problem is that here is already no free market. Every corporation gets bailed out by the taxpayer, too, and handouts and special rules. They somehow make even more money after failing, while normal people just fail.
Yeah, I'm a tax pro with an economics degree. This is utter insanity. If you were trying to come up with a way to destroy the economy you couldn't come up with a better way.
it's all part of their plan!
Currently there are more 401k millionaires than ever before , Mr. tax man!!!
I'd say that's quite a good thing , no?????
Yep just dumb people in power wanting a short high.
Another CPA, I, agree with you.
She no tax expert. Someone hands her the Plans and she goes along with it.
how can anyone with right mind can vote for Kamala with all that abortion , gun restrictions and these taxes ,crazy .
And also that she's completely dumb and has no clue what's happening just like her boss
because Americans are not that smart. unfortunately. GOD BLESS
We got a lot of leftist crazies that will vote because of "feelings".
nobody with a right mind IS voting for Kamala. Unfortunately, there are a LOT of lunatics out there.
These are the same people that think America is wicked so it makes sense to try to destroy it.
Pat, honestly you've outdone yourself in this video.
We need viral reels to inform every one of this video ASAP!
The absurd part is when you realize that this 'huge' increase in tax revenue, that is detrimental to the economy, is spent by the government within days.
Every, single, budget is balanced. It is either paid by taxes, or by devaluation of the national currency (from a consumer's point of view: as inflation).
Government Spending is the issue. Full stop.
What happened to the 900 billion that Biden said it would go to infrastructure to upgrade roads,bridges and water lines?
And this would create new jobs. Obama did the same thing for 850 billion. What got repaired and where are the jobs? Where did the money go ?
10% to the Big Guy
Obamas 10 houses. Lol
Have to drag Bittiegeg before congress next year to find out
It’s coming here to SoCal. We just got the green light to start working on power lines
@@usmcortuno 🤣🤣🤣
The people who really need to hear this aren't watching this channel.
True
This is where the 80,000 new IRS agents will be used for.
Lies
Gooood!!!!
@@anthonyesposito7not everyone is a wetback, we don’t need this..
Didn't the Republicons shoot down that proposal???
They have been in control of congress for over 2 yrs now!!!
@@anthonyesposito7you just hate rich people
All those taxes won't even last a year.
Time to get rid of 75% of the spending not more taxes.
Tell that to Donald who exploded the deficit.
Everybody in the world 🌎 needs to see and hear this immediately ‼️
I hope we all know that it doesn't matter who is in the 'top job' because this is a systemic problem -- greed. We have allowed many of our economic sectors, to take advantage of the American people. It's disgusting and frightening for the future of our country. My husband and I will be retiring in the next two years n another country. We are absolutely worried that SSI will no longer be funded. we'll have to rely on his pension, a 403 (b) and a very prolific lnvestment account with my Abby Joseph Cohen my FA. Our national debt is bloating and expanding every month. Our government needs to get spending under control and cut the federal budget.
I'm headed to Thailand or the Philippines in 4 years.What country you moving too?
I know this FA, Abby Joseph Cohen Services but only by her reputation at Goldman Sachs; even though she's now involved in managing portfolios and providing investmnt guidance to clients. I have been trying to get in contact since I watched her interview on WSJ last month
@@EdenaCrisiWell her name is 'ABBY JOSEPH COHEN SERVICES'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
@@AllenDoltI have a sister in Sri Lanka, should be easy for me to settle in
I went from no money to lnvest with to busting my A** off on Uber eats for four months to raise about $20k to start trading with Abby Joseph Cohen. I am at $128k right now and LOVING that you have to bring this up here
Never Never Never vote Democrat....
TRUMP Nov 5th....do it.
🙏🙏Trump, JD Vance, RFK Jr., Tulsi team 2024 💯💯🙏🙏
At the end of the day, it's always the middle class who suffers.
Yeap. Taxing unrealized capital gains is the government's way of covering their managerial abuse.
Own nothing and be happy.
@@dehidaiaperez3680 set maybe okay for you but that's not okay for most people nor should it be forced on us by the extremist government
@@kirk.w.mclaren valid comment I have little money in the stock market if she wins it will take me 3 to 6 years to pay the IRS. Their agenda is, own nothing and be happy.
Absolute insanity
Everything about Marxism is insane.
Holy crap. Why would they want to start a business or invest in anything with taxes like that.
Nobody, people will leave the country to tax haven countries
People should be demanding NO more federal income tax for ALL. TAXATION IS THEFT.
We better not catch you on the interstate.
What are you going to do? Give us a tampon?
@@brandonpurdy7658yeah our poor, starving government couldn’t possibly afford to build roads without income tax 🤡
Realistically, we have to pay taxes! It's just that citizens should have a better say
on how their taxes are spent!
@brandonpurdy7658 As long as the money is going to pay for the interstate rather than Ukraine.
We do not have a revenue problem. We have a spending problem.
No we have a Democrat problem
Everyone saying their broke but how many new cars do you see driving down the road.
@@SwaySznthat’s why they’re broke. Irresponsible spending.
Trump got us 8 trillion more in the hole. Thats almost twice as much as Obama in one of his terms.
This
Patrick! Thank you for using your platform to communicate this so effectively. The repercussions of this could not be overstated
The real gut punch is the fact that this would be ANNUALLY!
Good analysis PBD, government cannot be trusted with more money, in fact we need less government control of OUR money!!!!!!
Florida wants to adopt rent control. Total communists.
The issue with tax is that a 30% tax of $40,000 hurts people way harder than 50% of $40,000,000
If you're paying 30% on 40k you need a new tax professional. Even without kids you’d be paying 15-17%. Add in kid credits and deductions and your getting a return.
If I had a choice to have $70k/it and be taxed or have multiple millions or billions and be taxed I would rather be a multi millionaire.
The trickle down effect of these tax proposals will devastate the working class' and retirees savings.
That’s a key fact that half of the country quickly needs to learn.
An ‘Opportunity economy’ for e’legal immigrants.
SWEET 😈😈😈😈
I wonder where all these elites are planning to move to once they destroy everything
We need to get this out to all Americans!
Just take all our money !😡
That’s where this is going 😡
Unless your worth is at least $100m,
Stop crying 😢😢😢
Remember when Sanders wanted a 90 % tax rate.
Do you have 100 millions doloarrzzzzz. Dumb argument that I see every now and then. Get a book.
The problem is government spending they need to slow the fuck down . But Harris is also terrible.
You can't outax the pace of spending and money printing. Fucking clowns working in the highest positions.
“You will own nothing, and be happy.”
enter the Kum-a-la ‘Good Vibes and Joy’ campaign.
(P.S. 1930’s mustached Austrian painter’s [initials A.H.] campaign slogan just happened to be “Strength Through Joy.” ? ? ).
@@Lightning613 We hired all the nazis so it's no surprise they follow the playbook 1:1. US gov fucked us.
I love how you tell stories so directly-simply awesome!
My question is raising all those taxes to spend on what? If it is to send to other countries or illegals, I will find away to not pay them.
They will have you locked up so fast your head will spin!
I really don't understand the people voting for her after those last 4 years we went through people needs to get over their feelings about Trump and vote for him!
Don’t they will have nothing and be happy
They always be creating “healthy” ideas but never realistic PLANS
This is why those people went to the school system & started the dummying down of schools since the 1960s. It worked! It worked as planned, their plan.
I didn't grow up here in the U.S. I was born into a tyrannical country where free speech & 2A doesn't exist because of control. When children publicly mimicked what their parents say about the tyrannical govt, they're hunted down like an animal and unlivened.
I came here legally which took almost 10 years to go through the process back in my country. I waited there and followed the law of the U.S. and paid tens of thousands of dollars before I was given permission to step foot on American soil while trying to make sure I survive.
People who doesn't see that this current regime along with the last few presidents (aside from Trump) going ways back to the late 1800s when they allowed a group of people who've been banned in over 110 countries back into the U.S. are out to destroy what's left of the country we love.
Trust me, we have to watch also. AI police everywhere
Yuri Bezmenov. The Kalergi Plan.
@channingtaintum Indeed...
How do you tax unrealized capital gains??? That's pure wickedness.
A new sophisticated way Communists have now to steal everything you have worked so hard during your life without being confiscated.
And how do you claim a tax credit, if the stocks lose value in the next year?
@@rongendron8705you wont be able too. Probably only goes one way
People worrying about others' problems 😂😂😂
When you have a net worth of at least $100 m, then you can worry!
People would have to sell off stock or as he said massive layoffs and selling off chunks of companies. It was cause a huge stock market crash and a worse depression than the 1930s. Our country would be finished off.
This should be the most shared video right now.
My sister in law’s response was “I don’t have that type of wealth”…I swear they can’t think further than their nose
Lol, being brainwashed by fear mongering means YOU'RE the one who can't think further than their nose
I work in new york as a union construction worker. I pay 50 % in taxes fuck that !
Thats because of Trump tax plan if you pay that much.
@johngates7681 demonrats were in office right after and they didn't rectify anything.... not to mention I'm white. I dont even count no more according to them !
Kamala "YoU BeTtEr ThAnK A UnION MeMbeR!" 😅🤦🏽♀️🙄
Here we are Kamala!!!
Trump 2024! ❤🙏🏽🇺🇸
yep, that is robbery
Ny is blue budd@@johngates7681
This is what South Africa is going through as well. Tax is way too high and everyone is affected! 💔
Crazy. Even crazier is property taxes due the same thing. Taxing you on unrealized gains!
Actually, even if your home value goes down you still have to pay your property taxes so it's not the same.
excellent point!
@@jimmckittrick6515
When the market crashed in 2008, some were able to have their home reappraised to reflect the loss in value and lower their property tax.
@@jimmckittrick6515 I would think if I sold my house at a higher price the unrealized taxes would step in. Which doesn't sound great.
@@jadl3278Nope, thats a realized gain because you sold it. You buy a house for 50k, 10yrs later let's say it "worth" 100k, they would want to tax that 50k increase in value even though you didn't sell to "realize" those gains. Another example would be a 401k. You don't realize those profits till you retire and start withdrawing, taxing unrealized gains would be taxing the increased value of your retirement fund.
We need a PBD DJT interview
2 goofballs
How would pat ask any questions while gargling trump's ba lls !!!
😂😂😂
Thank you, Patrick, please don't stop what you are doing!
There's a flaw in taxing unrealized gains, say I own stocks for ABC.
I have $100M in unrealized gains for 2023.
Then in 2024, ABC's stocks went down so now ABC is $50M. So I'm -$50M.
So will the government owe me -$50M in taxes I paid last year?
No. They won't. They like to take, not give.
You would have paid 25 mil out of the 100 mil. And I'm pretty sure that's still not an accurate number 🤦
This is the main reason why I can’t vote for Kamala!
Stop lying. You were not voting for her anyway.
You damn sure ain't worth
$100 million ,
so it wouldn't affect you anyway!!
😂😂😂
This will affect the working class too
Very sad but so true, I’ve been democrat my whole life until I realized we have been cheated . MAGA 2024
@@sevensages5279 sadly it will go down to us working class employees like myself. You tax the rich and the rich start laying people off so they can keep a profit and stock price then you realize how bad this is. Look at countries in Europe and how hard it is to become an entrepreneur in a small business. I used to agree with raising taxes on the wealthy until I realized that those high taxes will go down to the middle class. It’s no way around it. Once the rich move their businesses to more affordable places like China or Mexico etc you will find out that those high taxes will be taxes we will end up paying for. Let the free market capitalism run its course not the government controlling everything.
This vid needs to go viral
You're company has to pay taxes for paying you, then you get taxed for the money you make
Whatever large amounts of taxes raised by this plan would be in the short term. As the economy gets destroyed by this terrible plan the amount of tax revenue will significantly dwindle. Not to mention the greatest unemployment to ever be seen.
Hope that this video remains “up” so many can see it and HEAR it!
But she’s the first ✊🏿 black and the first Woman president…. Pat!!!! Common sense doesn’t matter!!!!
😂
First Indian too 🇮🇳✊🏾 Throw common sense down the drain. It’s time to make history.
She would also be the "First" President that neither one of her parents
were American citizens, when she was born! If the US didn't have
"birthright citizenship", she wouldn't be an American citizen, let
alone run for the Presidency!
Way too many people don't use their head, but emotions when they vote😡 Complete ignorance.
@@stephenhan9680 😂😂😂😂😂😂😂
Don't forget Jamaican mahn!!!
The actual problem is the total waste of government spending. Why send $55 Billions to Ukraine while US debt has reached $35 Trillion. There should be a supervision on wasteful Government spending which is totally out of control and now they want to cover it by taking money out of investors pocket. This will discourage investors and bad for the economy.
Do you know how much of that $55 b went to American corporations.....that pay taxes?????
This is why I love his podcast. Makes it simple for everyone to understand.
This is not a tax on the rich. It's on the middle class.
This is scary! Thanks for the info
This type of education should be given in highs school. Education is such a disparity between citizens who believe what they hear vs what they actually research
Taxing “unrealised gains” is just a euphemism for theft.
If you can tax unrealised gains, then I’d like a rebate on unrealised losses 😂
Yeah, when your net worth exceeds $100m
😂😂😂
Worrying about $hit that don't affect you!!!!!
Are you really a cuck for billionaires.......???
Taxes are a euphemism for ‘armed robbery.’
This is how you will own nothing--people will not be able to afford the taxes, so will have to sell or default on their properties.
Taxing unrealized capital gains is the government's way of covering their managerial abuse.
Everyone Please SHARE THIS.
American literally CAN'T afford another Biden economy.
Thank you PBD this is amazing information.
The government has fked off what its been given already why give it more of the money we work for.
These are not liquid assets. It is like saying you bought a house and it goes up in value so you have to pay taxes on that increase but unless you sell the house you don't realize that money as cash so you have to find the money elsewhere. I bought my house for 197K and it is now worth 475K. I would have to sell it. There is no way I could afford the taxes.
If this happens, all the billionaires will move their companies an wealth to another country. Bye bye economy
Goodbye. So much for America first
but should it be the working class that is taxed?
@@MalokaJohan yes working class and middle class get taxed more so they are inclined to start their own small business and increase more cash transactions. As an accountant tax is an illusion my friend. It favours the business owners and real estate investors as they contribute "more" to the government through pension and insurance/property tax. The wealthy will just find a way to dodge this by selling a part of their portfolio by year end to save taxes.
@@nobodyspecial115 Thank God if billionaire move. New leaders will be born
This guy has a point but the most important thing of all is that American's taxes should not be going to Ukraine or ANY other country. If all those taxes went to helping AMERICAN people, fixing problems, roads, pensions, health care etc etc it might make sense but to keep taking more taxes to send them abroad thats just nuts
We can do both. America can walk and chew gum at the same time ya know
@@ronniekregar3482 I'm not even American I just think it's unfair. Your taxes are for YOUR country. And tbh it's not exactly like you're country is doing amazingly right now. The focus should be solely on getting yourselves sorted
@@comerunwithmig lol, and just let Putin take over half of Europe?
@@comerunwithmig lol, we've had the best Covid recovery of any country in the world, what are you talking about?
It reminds me why our ancestors left Europe. TAXES!!!!
That is DOUBLE JEOPARDY! You already are taxed when you sell. I can't believe this has to be explained.
Most tax is double jeopardy.
What about actors ?
Being an actor is their business.
Kamala should go after them, too.
@@unknown-x-1777 It's not stocks. No where did it say businesses were going to be taxed more.
This REALLY is one of the many building blocks of „You‘ll own nothing..“
This is the craziest economic plan I've ever seen. How the hell can you tax money people haven't even made?
And you KNOW that they aren't going to give money back when you end up REALIZING losses...
And why wouldn't every wealthy person simply leave the country? This would absolutely annihilate the economy.
You fail to notice that the same rich people for taxing the citizens this way are also people who likely are just milking off as much money as they can before running to some foreign country where they own property and off-shore accounts in once the ship fully sinks. They think they can run on their own personal lifeboats while the citizenry sink with the boat.
@@kamikaze00007 they CAN run to some foreign country!!!! Why would they stay here?
For example, Ireland has a 12% corporate tax rate FFS; and they have a free trade deal with the United States, AND they are part of The European Union. Why wouldn't those with the means just go to Ireland? Why would they stick around to get fleeced by Uncle Sam if they don't have to? And Hungary is in the same position... If you bring i think it's half a million dollars to Hungary and buy property, they'll give you citizenship.
That's because the left doesn't know the first thing about how to invest to make the country stronger. That's why we NEED Trump back in the driver's seat ASAP - to help Make America Great Again.
If it work for your property tax it can work in the market too… plus it doesn’t affect the poor
@@Alexandria-hq1uy Atlas will shrug SO hard.
The rich currently pay something like 80% of all tax revenue that Uncle Sam collects. What do you imagine will happen when all that revenue disappears into other countries?
They don't have to stick around to pay this tax. They have the means to simply leave.
I don’t think people realize how bad this will affect their 401ks. A lot of 401ks are tied to our jobs selected funds. Vanguard fund, fidelity fund, etc. if the fund appreciates which it most likely will, these funds will be forced to sell to not pay the extra tax.
Doesnt matter if they sell. They have over $100m invested under them, so they will have to pass the tax to each 401k owner as a fee.
Everybody worrying about something that affects less than 10k out of 300-320 million citizens!
And the quick, massive selloff will cause a crash like we have never seen before
@@sevensages5279you arent too bright are you?
Did you not listen?
The lack of reasoning skills of leftists to understand cause and effect is insane
@@Julia29853 didn't even watch the propaganda, julia!!!
How much are they proposing to tax those multimillionaires and billionaires.....do you even know???
This just in..... Kamala Harris has agreed to be the lead in a reboot of a decades old classic film. VP Harris has agreed to star in a new version of the popular film "clueless" (sarcasm alert) in my Chris Rock voice " can't wait to see it."
So if the company shares you bought went up by 50% due to a financial bubble or excess money printing, you would have to pay tax on the mis-price. When the shares revert back to fair value you would be poorer than when you started. This is absurd.
no point in investing or buying real estate with a tax like this. As long as their taxing the unrealized gain at a huge 25%, one might as well sell and just pay the regular tax on a realized gain.
@@musictosoothethat would be great, because then they would be paying taxes. Finally
@@kingiam9271lolz you're really not getting it? There won't be an economy left in a few years after this.
@@UltimateGaming-ih right, I knows that's what the rich say every time we talk about taxing the rich. Everyone gets fired and economy crashes 😒
@@kingiam9271 first of all the rich already pay a lot of taxes, secondly I hope Kamala gets elected just to prove me right and teach you a lesson.
I’ve been looking forward to you breaking this down, Patrick 👍
We have the same issue in the UK and have been told by the new left wing government after just 3 months of governing that this October's budget is going to be brutally painfully. Have already stopped the winter fuel allowance for our pensioners. Vote woke go broke!
I think we should all just pull out of the stock market and stop paying taxes. We all work extremely hard and only live so long for our government to give all of our money away to other countries instead of reinvesting it in the United States. This has to stop.
EVERYONE NEEDS TO WATCH THIS!!!!
Only those worth over $100m 😂😂😂
@@sevensages5279those over 100$ M . have tax code team to avoid a lot .
Those worth over $100M who are business owners will pass the tax on to the working class by raining prices on goods and services use common sense
I wish everyone in our country would listen
The unrealized tax as stated here would DESTROY big bizz
And anyone trying to retire in this lifetime
Lol, no it wouldn't..what you're saying is laughable
@@happyappy19931no, DON'T LIE
only those worth a least $100 million!!!
@@ronniekregar3482you arent too bright are you?
If someone is proposing an economic plan that can’t articulate and keeps referring as the “opportunity economy” red flag 🚩 the person is clueless. The US is already $35 Trillion in debt, we don’t want to exacerbate the debt with spendings abroad.
As much as Americans need better and honest politicians y’all also need better and honest media personnel’s
But NON REALIZED GAINS, is NOT only FROM THE STOCK MARKET...If your house increased in value, YOU WILL BE TAXED ON IT, and then , if it goes down in value, as it has happened time and time again, who pays you back on the loss?????????
There is no CASH FLOW to be able to pay it!!!!!
You need to talk about:
HOUSES
CARS
BUSINESSES
ART
JEWELS
WATCHES...
It would be the distruction of the economy because ITS NOT PAYABLE on a CASH BASIS!!!
Fear mongering. The plan said stocks, not assets.
Nope!!! Your permanent residence always was and always will be except. Stop fear mongering
@@brandonpurdy7658it always starts with one item and then they expand it out. They said the same thing with income taxes and AMT but more and more people pay it now than when it was established....
@frank
Hey Frankie,
$ 100,000,000 or more!!!!!
STOP THE CAP !!!!!
@@sevensages5279 Still terrible. It basically places a cap on capital ownership at $100m. If any US-based private business owns more than that, it will rapidly be taxed down to $100m at 25% per year. Everyone who has more than that will immediately move all of their infrastructure overseas to avoid arbitrary "unrealized" taxes, guaranteed.
It will cause the largest outsourcing of jobs in US history. This is very bad for the economy.
Tax Taylor Swift and raise her rate to 50%
Cry harder 😢😢😢😢😢
Surely she would not vote for this.
@@sevensages5279You can cry with Taylor when Trump wins.
Thank you PBD and the Team For This !
Taxing unrealized capital gains is like a farmer eating his seed corn. Very stupid and a guarantee he won't have a good harvest in the years to come.