Tax Increases Coming: Across The Board
(Edited)
There are a number of proposals that are coming forward to increase taxes. How about a wealth tax in California? A global income tax? Taxes on unrealized gains?
All of this while the economy is plummeting.
In this video I discuss how money flowing into the public coffers is not good for the markets. When it comes down to it, fear and greed reign in the markets. Anything that ticks them off, can start a slide that could be painful.
Taxing away hopes of an economic recovery is a great way to do that.
▶️ 3Speak
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Yes its true.
I like your black glasses
And speaking style
Unfortunately I can't disagree with anything you are saying. The politicians have become so divorced from reality with the normal people. It can be seen in California when they forced Uber and Lyft to spend millions of dollars to protect their company and the thousands of people who depend on it for income. The unrealized gains tax seems like a horrible idea and I can only see this as their push towards the Great Reset.
I think one of the ways they can tax the system (so people can't cheat) is to tax anything coming into your bank account and I have heard of it in terms of negative interest rates. As much as I would hate it, most of us have some connections to some banks so I feel it could impact us a lot as well.
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The problem with negative interest rates is they deter saving, something that is vitally important for retirees.
Of course, judging by the numbers they havent been doing a good job of that.
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BEER.In Europe we have a lot of taxes, but 'Merica might get a taste of what that's like
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That is true, Europe certainly does.
Also have an economy that grew a lot slower than 'Merica's abysmal growth rate.
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Even though I live in Europe, I keep saying for a few months now, that new taxes are going to appear soon. Our parliament is a new one, elected at the end of December, the government is also new, they were busy till now, fighting for power but now that that's set, they are going to think of new ways to get some money out of our pockets for sure. I'm curious to see what they are going to do regarding crypto.
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If you forbid people to work, give everyone help for NOT working, kill all the hospitality industry and a lot of others... How can you feed the government and bureaucracy, if nobody pays taxes as nobody makes money? Printing money, or raise taxes... This was expected from the beginning...
And other things that you mentioned about additional taxes ideas are just crazy...
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@taskmaster4450le, In a way in this world not even Air is Tax Free. Stay blessed.
In India, there are many taxes including GST and now govt is exploring the option to apply GST in the crypto trade and capital gain tax is already here for the income made by crypto. I think taxes should be reasonable that should not give a feeling like a major part is going to govt only.
Let's see how Biden does for the taxation in US.
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They are going to have to find a way to pay for that "Stimulus" & all that COVID-19 regulation enforcement and all the money wasted on vaccines when existing treatments had already shown to be effective against treating COVID-19.
They also need money to pay for all those free stuff!
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Summary:
Task discusses the recent surges in the stock market, Bitcoin, and Ethereum, alongside major global economic issues such as proposed tax hikes and potential future financial challenges. He delves into the impact of proposed tax policies, market behavior, economic outlook, and the potential consequences of ongoing political and economic turmoil.
Detailed Article:
In this video, Task opens by highlighting the recent significant milestones in the stock market, with the Dow crossing 31,000 and Bitcoin nearly hitting 40,000. He notes the positive performance of stocks and real estate. However, he swiftly transitions to a more somber tone as he delves into the complex global economic landscape and recent events, including the violent incidents at the Capitol.
Task delves into the grim economic reality facing many with proposals for tax increases, mentioning Joe Biden's plan to raise taxes significantly, primarily targeting the wealthiest individuals. He touches upon California's proposed permanent wealth tax, discussions on taxing unrealized gains, and even talks about a potential global income tax. Task expresses concerns about the implications of these tax policies, particularly on the upper middle class.
The conversation shifts towards the market dynamics and the disconnect between market performance and the actual economy. Task highlights that markets can be driven by fear and greed, emphasizing that economic downturns can occur regardless of market surges. He discusses the unsustainability of continuous market growth and the necessity for economic recessions to eliminate inefficiencies within the system.
Moreover, Task reflects on the broader global economic landscape, focusing on the impact of U.S. economic trends on the world. He warns about the fracturing of the economy due to extreme political polarization, highlighting the deflationary effects of violence and uncertainty. Task concludes by reinforcing the idea that economies do not infinitely trend upwards, underscoring the need for market adjustments and the clearing out of economic "garbage."
In essence, Task's analysis covers a wide range of topics, from stock market surges to proposed tax policies, and the broader implications of economic challenges and political turmoil on global markets. He raises critical points about the interplay between market performance, economic realities, taxation proposals, and the need for periodic economic recalibration.