If you like your retirement, you can keep your retirement

[jamil]

Golly, who could have seen higher taxes coming? I'm sure we'll all get our money's worth.

In before we hear "you didn't earn that" from Biden

Take note of every Biden supporting ********** who told you "No, Biden's tax plan isn't going to raise YOUR taxes. He is only raising taxes on wealthy people." Then when your taxes go up you have a list of people to punch in the mouth.

 

[Slapstick]

Talk about killing incentives to invest in a retirement account but maybe that's the plan, make people more dependent on a Dem controlled government just to survive in your old age.

 

[bobzilla]

Take note of every Biden supporting ********** who told you "No, Biden's tax plan isn't going to raise YOUR taxes. He is only raising taxes on wealthy people." Then when your taxes go up you have a list of people to punch in the mouth.

And many here gleefully voted for this.

 

[Wolfhound]

Anyone know what percentage of the stock and bond market are retirement savings? I am guessing a fairly large chunk. What happens when that percentage is taken out all at once by our dear leaders?

 

[chipbennett]

I have a feeling that I'm going to be very glad over the next four years that 2/3 of my retirement is currently tied up in an ESOP.

 

[OakRiver]

'Act big' now to save economy, worry about debt later, Yellen says in Treasury testimony

Janet Yellen, U.S. President-elect Joe Biden's nominee for Treasury Secretary, urged lawmakers on Tuesday to "act big" on coronavirus relief spending, arguing that the economic benefits far outweigh the risks of a higher debt burden.

www.reuters.com

She raised eyebrows of some senators and Wall Street when she said that Treasury would consider the possibility of taxing unrealized capital gains - through a “mark-to-market” mechanism - as well as other approaches to boost revenues.

A cynic might translate that to: "This is going to be someone else's problem when we're no longer in office"

 

[JTScribe]

What? Do you mean "to be an influencer"?

You voted for Biden. Please explain to me why you are entitled to the money I have saved and invested.

 

[churchmouse]

You voted for Biden. Please explain to me why you are entitled to the money I have saved and invested.

Look back at his posting history. Then you will see through the smoke.

 

[bobzilla]

Look back at his posting history. Then you will see through the smoke.

Not much smoke. It’s pretty clear.

 

[Jaybird1980]

I think there is going to be an "unrealized loss" in many folks future.

Time to stuff the sock drawer

 

[MCgrease08]

Talk about killing incentives to invest in a retirement account but maybe that's the plan, make people more dependent on a Dem controlled government just to survive in your old age.

Now you're catching on.

Anything they can do to get the maximum number of people plugged into the system. The entire entitlement system is built on this goal.

 

[printcraft]

But I want free money for nothing, and free healthcare, and free school, and a big fat raise to flip burgers!

and chicks for free!!

 

[SheepDog4Life]

Take note of every Biden supporting ********** who told you "No, Biden's tax plan isn't going to raise YOUR taxes. He is only raising taxes on wealthy people." Then when your taxes go up you have a list of people to punch in the mouth.

But this will only affect the wealthy!

I've lived long enough to know that "their" definition of "the wealthy" is anyone who makes enough to support themselves and their family without gub'ment help. (no purple)

 

[CampingJosh]

You voted for Biden. Please explain to me why you are entitled to the money I have saved and invested.

I voted against Trump. I disagree with Biden on the vast majority of his policies. I just happen to think Trump was even worse.

I'm not entitled to your savings and investments, and I don't want them.

 

[jwamplerusa]

"Teasury would consider the possibility of taxing unrealized capital gains - through a “mark-to-market” mechanism - as well as other approaches to boost revenues."

Ughhhh; WTF???

is she suggesting the government will just make up a number to be your capital gains, and then tax you on that?

I wonder if all of those communist idiots who voted for these thieving redistributionist fools are starting to get that uneasy feeling in the pit of their stomach that they might not end up as rich as they thought they were.

Wow.

I can see that crashing the market very quickly. I wonder where the assets will go when the market is no longer viable through taxation?

 

[indyblue]

I can think of no better way to start a ********** than taking away peoples life savings?

 

[WebSnyper]

How exactly does one go about taxing unrealized gains... when they can evaporate tomorrow.

 

[MCgrease08]

she suggesting the government will just make up a number to be your capital gains, and then tax you on that?

I could be way off here, but I think this is what Bernie Sanders and Liz Warren were suggesting at the start of the pandemic when they got all riled up about Jeff Bezos.

Here is the Bezos example. Let's say his net worth is $30 billion at the start of the pandemic. Then lock downs kick in and people start flocking to Amazon. Because Bezos owns so much of the company his total valuation goes up (on paper) to $35 billion because it's performing so much better and more people are using it.

Sanders and Warren were screaming that he should be taxed on that $5 billion gain, even though he never cashed out any of the assets he was holding. He hasn't sold anything to trigger the capital gains tax, but they want a piece anyway. Never mind that his net worth probably goes up and down daily, and if the company were to crash for some reason his value could drop significantly.

It's like forcing someone to pax capital gains tax on a baseball card that went up in value from $5 to $5,000 over time, even though the person hasn't actually seen any gains yet because they haven't sold it.

Again, I could be talking out of my backside, but I know Sanders and Warren have pushed this idea.

 

[jwamplerusa]

I could be way off here, but I think this is what Bernie Sanders and Liz Warren were suggesting at the start of the pandemic when they got all riled up about Jeff Bezos.

Here is the Bezos example. Let's say his net worth is $30 billion at the start of the pandemic. Then lock downs kick in and people start flocking to Amazon. Because Bezos owns so much of the company his total valuation goes up (on paper) to $35 billion because it's performing so much better and more people are using it.

Sanders and Warren were screaming that he should be taxed on that $5 billion gain, even though he never cashed out any of the assets he was holding. He hasn't sold anything to trigger the capital gains tax, but they want a piece anyway. Never mind that his net worth probably goes up and down daily, and if the company we're to crash for some reason his value could drop significantly.

It's like forcing someone to pax capital gains tax on a baseball card that went up in value from $5 to $5,000 over time, even though the person hasn't actually seen any gains yet because they haven't sold it.

Again, I could be talking out of my ass, but I know Sanders and Warren have pushed this idea.

No, I think you're dead on.

This is what you get whenever the politicians have worked nearly no honest days in their lives. They are professional politicians / bureaucrats who have never produced anything of value. Their entire worldview is, you have stuff and because I am in the government it should be mine.

And ostensibly a majority of the population of a majority of the states elected these ****bags to govern them. It doesn't help that they're recycling the same worthless slime balls from the last two democratic administrations, who have only gotten farther to the left in the intervening years.

 

[jamil]

Now you're catching on.

Anything they can do to get the maximum number of people plugged into the system. The entire entitlement system is built on this goal.

I'm not sure that's a thought out goal. I think it's more that Lefties think that people have all this money in their retirement accounts and that's not fair. So take their money, put it in the pot, and redistribute it. I think that's more realistically their goal, at least the lefties I've heard talk about it.