President Joe Biden wants to increase capital gains tax to an astronomical 48.4%. This could be BAD for investors.

    Biden’s Top Marginal Capital Gains Tax Rate Would Be Highest in OECD


    https://www.realized1031.com/capital-gains-tax-rate

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    39 Comments

    1. WHY SHOULD ACTUAL WORK BE CHARGED MORE TAXES THAN PASSIVE CAPITAL GAINS? Do you really think that’s right?? I mean working people being charged more taxes for actually working, than investors sitting on their asses, is fucking WRONG. Get out of the crypto bubble people.

    2. Ya but you have to be a millionaire for that to hit you lol. It’ll cause a panic dip I’ll buy though 😎. I’m not rich so this doesn’t affect me unless I start making millions down the road. Plus it’ll get negotiated down probably by 50% of the increase wanted. I think it’ll land in the 30s after it’s worked out in negotiations. But either way I don’t make enough to be affected by it lol

    3. What is the income tax? When did it start and where did it come from? The income tax started back in 1913 when Congress imposed the first modern income tax after the passage of the 16th amendment to the US Constitution which the amendment is referred to as the income tax amendment. The Constitution grants Congress two types of powers of taxation. One is the power of direct taxation always requiring the rule of apportionment and the second power is indirect taxation always requiring the rule of geographical uniformity.

      Since Congress never had the authority to impose the income tax on the average guy living and working in any one of the 50 states of the Union and the 16th amendment did not Grant any new taxing powers to Congress according to the United States supreme Court in 1916, the question then becomes who did Congress legally impose the income tax on according to the actual statutes and regulations we have today under title 26 USC?

      The answer is plain and the answer is simple. Congress did impose an income tax on non-resident aliens and foreign corporations deriving US domestic source income and US citizens residing abroad with foreign earned income. A US person in US tax law is not someone who just earns money or makes money from an investment a US person is explicitly someone who has control, receipt, custody, disposal or payment of any item of income belonging to a foreign person that is subject to withholding.

      I challenge anyone here to show where the law actually makes the average guy or should I say the average citizen of one of the several States liable for an income tax upon their own money.

      Yet we will continue to talk about Congress raising taxes on income without ever discussing who it is that Congress has actually imposed the tax on. I swear citizens of this country when it comes to the income tax are their own worst enemy, not caring what the truth of the tax actually is but following the mythological dogma of the so-called experts. Congratulations for winning the dumbest idiot Darwin award and being ignorant against your own best interests.

      Anyone interested should read a book entitled income tax shattering the myths by Dave champion it is the go-to resource on the topic.

      There's a lot more to say about this except this is too long of a topic to discuss in one YouTube comment. Any questions ask I will respond to anyone who does

    4. well it looks like everyone is going to be opening a Mexican bank account very soon and a small property to skip taxes . such a short sided move everyone is just going to jump ship . fuck compliance when the machine is out to get you .

    5. Impressed how many R’s making over $1M per year and debating leaving the country in this chat. Guess those colors do bleed when you tax the wealthy. 🤡 🤦‍♂️ Good riddance 👋

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