@JacquelineCord Would have loved to seen him a Cyclone with him wrestling for the hometown juco ILCC Lakers. But will cheer for him to succeed at Little Rock.
If you’re a single-issue voter on the economy, Kamala’s proposed tax on *unrealized* capital gains is a good reason on its own not to vote for her - and Republicans should be hammering this point much harder. Under Kamala’s plan, if you have an asset that the government says has appreciated by $1 million in value, you’ll owe $250,000 in taxes - even if you don’t want to sell it, and even if you *can’t* sell it.
That means you’ll be forced sell assets at fire sale prices even when you don’t want to sell, which depresses asset prices, which in turn spirals like a domino effect - because others are forced to sell those same assets at the same time. There’s no better way to trigger a market crash & economic depression, and startup founders will have to refocus their already-scarce bandwidth on esoteric tax planning instead of focusing on business growth.
Sure, they say the tax will initially only apply to people with a net worth of over $100 million, but the truth is a market crash and its effects will hurt ordinary Americans the most. And history shows that any new tax that begins with the so-called “ultra-wealthy” eventually finds its way to affect those who would never imagine describing themselves as such. Kamala’s megadonors will be able to pay expensive tax accountants to structure around it anyway, but it’ll be everyday citizens left holding the bag.
@BEisenhart To me this depends on what you consider thriving and barely getting by, which is different for many ppl. Combined salaries just over 100k, 2 kids in daycare. We pay our bills, cut down debt, put money into college funds/savings and still have cushion . Lifestyle is key!