GOP Rep. Likens Biden’s Capital Gains Tax Plan To ‘Putting Somebody In Prison Before They’ve Done The Murder’

While House Republicans struggle to coalesce behind a slate of cuts to justify their promise to slash spending, they’re happily bashing President Joe Biden’s budget as an inflated, woke-i-fied, extremist manifesto. 


This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=1450703

26 Likes

I finally got to post my little dog.

22 Likes

The GOOPS seems to hate people, and they’d sooner see all the babies they want to be born instead of preventing unwanted pregnancies to go hungry when they reach adulthood. Also homeless and friendless would work for them too.

18 Likes

This is my not so little dog who crossed the rainbow bridge, but I think her spirit is still alive chez Blue.

image

25 Likes

“We’re suggesting a tax on individuals earning more than $100 million.”

I like this wokified brandon.

18 Likes

Your little dog is The Princess and the Pea!

17 Likes

Clever quote but helps very few people…certainly those of modest economic means.

That’s why MAGA started out the way they did out the gate.

The fundamental flaw of trying to tax unrealized capital gains in one chart:

For those who don’t recognize it, that’s the bank that just collapsed. So those shares out there have a likely value of $0, from almost $600 last year.

5 Likes

THE REPUBLICAN PLAN IS

SLAVE
LABOR

and put you in prison if you aren’t a good enough slave.

5 Likes

My little one in the picture crossed the bridge a coupe of year ago; I still think of her every day. We have a new one now who is watching me with suspicion.

15 Likes

Murphy pressed on with his metaphor.
“I’m not talking about the wealth of the person, I’m talking about the actual theory of taxing somebody before they’ve actually gained their money,”

Hey, murphymouse, you do realize that lots of folks “gain” their money by taking out loans against their unrealized capital gains, don’t you? Lets say you have stock that has appreciated $100 mil in value. Instead of selling some, and having to pay that hugely burdensome 15 or 20% tax rate (and zero FICA), your brokerage house will gladly loan you $10 mil secured by your stock. Zero tax, though you might have to pay interest (rollover balloon loans, anyone?). Then when you die, you pass that appreciated stock to your kin with a stepped up cost basis based on its value the day you croak.

But of course murphymouse knew that. He’s likely doing it.

33 Likes

“This demand that the rich pay their fair share has got to stop,” Likens said. “These are the job creators! Do you have any idea what effect this could have on luxury yacht sales?”

15 Likes

GOP Rep. Likens Biden’s Capital Gains Tax Plan To ‘Putting Somebody In Prison Before They’ve Done The Murder’

I’ve seen that film… and read the story:

6 Likes

How long did take you to figure out the correct ordering of the pillows?

5 Likes

“This bank must be bailed out immediately!”
— Every. Rethugliklan. Ever.

9 Likes

Just yesterday, heard teevee talking head babbling how taxing gadzillionaires would cost too much for poor folks. Because the economy is connected so tax would trickle down.

10 Likes

Larry Summers ain’t a rethuglican and he was calling for it.

Being a piece of shit isn’t exclusively a thing of the right.

15 Likes

And they still get elected

" The forest was shrinking but the trees kept voting for the Axe, for the Axe was clever and convinced the trees that because his handle was made of wood, he was one of them. " Turkish proverb.

27 Likes

He’s always seemed like one. Elephant in donkey’s clothing?

3 Likes