Today we’re going to discuss the new tax policies, the changes being made, and how this will impact the market going forward – Enjoy! Add me on Instagram: GPStephan
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Now, as far as my perspective, I find most of these policies reasonable. The Backdoor Roth IRA Contribution is something that should have been closed a long time ago. Disallowing Accredited Investments SEEMS to be with the intention of PREVENTING the Roth IRA from being used as a tax shelter, rather than a retirement vehicle…and, for the vast majority of people…this won’t impact them.
As an investor….the Capital Gains Tax at 25% seems to be a little much…because, just an onion…there LAYERS to Rich People…and, I don’t quite think most people understand the magnitude between varying levels of wealth.
For example, in most of these policies…the person earning $400,000 per year is treated the EXACT SAME as someone else making $500 MILLION DOLLARS per year. Now, don’t get me wrong…I’m not dismissing the significance of $400,000 per year…but, the difference between that and $50 million is the same as a comparing a person earning $1000, with another person earning $125,000….let that sink in.
The most difficult part, on my end, is that we absolutely have a growing disparity between the RICH and the POOR, that was very much exacerbated by a K-Shaped Recovery that brought to light quite a lot of issues. Unfortunately, in this case, it seems like there’s the narrative that “The Rich” are Greedy, they’re extracting value from the other 99% without providing an equivalent value, and they’re otherwise demonized from TAKING what could belong to someone else.
Although, I have to say – with money, it’s never a 0 sum game. I think a lot of the mistrust and hate towards “the rich’ is totally separate topic from whether or not each tax bracket pays their fair share, and that’s certainly up for debate.
So, even though I’m in favor of higher taxes, I personally believe two things should happen: One, lets separate people earning $400,000 from the people earning $40 million dollars…and, two, there should be a higher progressive tax policy that slowly raises these percentages over time, depending on how much you make.
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Idiotic leftist don't understand you can't tax INCOME that doesn't exist. Leveraging debt is not the same thing as taking a payroll check every two weeks. No you do not pay more taxes than rich people. They don't pay federal income if they aren't taking any INCOME. They pay taxes AFTER they sell their shares. It's smart and legal. Nothing "wrong" about that. Leftist are to moronic to understand the difference between income and assets.
Tax them! We need a French revolution here in US!
What if the companies having too much cash would distribute more of that extra cash as extra income to their employees, say, walmart increase salaries instead of their employees needing to rely on food stamps ?
I feel like we as americans who are not business owners or partners in a large company should pay less. And even better. We shouldnt have to go to prison for it either. I shouldnt go to prison for tax evasion over 800 dollars. But someone who didnt pay over 125k and higher in taxes should.
I shouldnt have properties that I worked hard for get levied and the damn government put a lien on my house or car.
I should pay no taxes. People below 85k shouldnt pay anything. And those who make less than 30k should be exempt. This is not about paying taxes for the government programs. This is about keeping the common man under control.
I don't like the idea of paying taxes, therefore I just don't. Buy Monero or Bitcoin anonymously with cash & then ignore the IRS.
makes huge amounts of money in the real estate market, doesn't pay for stock images. tsk tsk tsk
As a lefty I actually really agree with you here.
When we say tax or eat the rich, we're not talking about the hard-working millionares who have grinded and saved for a long time, we're talking about the very few, very powerful hundreds of millionares or billionares with terrifying influence and the ability to coast without contributing much more to society.
Government wastes 90% of taxes, we should just pay for every thing we use every roads a toll road, every schools private, every service paid for. Anarco-capitalism consumers have more power then "votes" companies already rule the world through government get rid of the government.
If you lived in CA and moved to a state with no income tax, then complain about taxing the rich, you're a fucking hypocrite.
the stupid rich can always laugh all day what a yoke
If you are frugal you dont even need 400k a years to have a very happy life.
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There are two things we can’t escape in life …. death and taxes.
The rich shouldn’t pay anymore taxes. They pay enough already. The problem lies in the federal government that blows out the spending and makes promises to the citizens for free stuff. So this will lead to the whole “tax the rich”. How about the federal government learn how to budget and shut down a lot of the useless government programs we don’t need. In short the government sucks at everything.
you look very green in this video
So basically make the tax brackets get into the pockets of the people who are still making so much more than compared to those making 400k
You know this government has made a conservative out of Graham…
Just do what I do, I have a full time job and a side business that makes most of my income and I didn’t register my business either so the IRS wouldn’t have any evidence of me making side money. I try and get everything in cash, I have a fire proof and water resistant safe out back underground (sort of) and the IRS won’t see a dime of MY money.
As long as no laws are broken then I have no issues here. Congress should change the laws instead of bitching about it.
I wouldn’t have a problem with taxation if the government was responsible when it came to spending, but they want to tax tax tax without reducing their spending.
We need a wealth tax!
Americans acting like they pay a lot of taxes. How cute.
Ot maybe the hole deal is not going after 100 people making 40 million a year. Maybe the deal is disguised as such and the goal is taking more taxes of 40 million people making 400 K a year.
Make a video on taxing unrealized gains
i always find it funny that its called greed to want to keep what you worked for but its not greed for someone to want men with guns to coerce you to give that money to them so someone who didnt work for it can get and spend the money. democrat clown logic lol
dems dont understand economics.
maybe Graham cant raise the price of his product (well his YouTube vids anyways) but most other companies can and will if their taxes are raised.
so bob the business owner makes 1m a year after taxes, and he enjoys it, but the democrats want to pass a bill that makes it so his income is way less than 1m even though his company continues to thrive and grow. bob enjoys his 1m a year income and he says "screw the government, i control what my income is, not them", so bob raises the prices of his products and services. so bob is happy still making 1m a year even though his taxes were raised. you know who isnt happy? the poor and middle class who are now paying way more for everything… you dont need to be an economist or psychologist to figure out this basic stuff.
honestly why cant democrats figure this out?
what rich person is going to be like "oh welp the government just cut my income by a large percentage and there is nothing i can do about it"? the answer is none of them, because business owners are generally alphas that control their own fate, and they have the control to raise their prices… dont even come at me with the argument that "well if they raise prices then they will lose customers and go out of business" because its a bogus argument.
have you stopped buying food because the prices have went up? unless you're some 100% self sufficient farmer the answer is obviously no.
Why do people avoid bringing up politics when politics affect our lives more than anything?
My biggest problem with the tax the rich statement is the "rich" are the job creators. I don't have the exact figure, but a majority of small business owners file as individuals, so they look like millionaires on paper but in reality they are employing up to 50 people. The large companies can take the hit, but the smaller ones simply cannot. It only helps eliminate the remaining competition the large companies have, thus making them even bigger
Raise $110 billion over the next decade only to spend $2 trillion in poopoo government spending. Seems legit
I think politicans reprint money. I believe they take alot of tax money and do whatever they want with it and literally waist our tax dollars on whatever they want. Also, the rich do not use our programs or welfare. So….
…
Exacerbate. Only one t
Raising taxes when the economy is struggling is never a good thing. Even Bill Clinton understood that and by the time Obama decided to raise taxes the economy had largely recovered.
Plus the libs assume that people got the money laying around sitting in vaults like Uncle Scrooge McDuck to swim in it's never that way it's invested in businesses in Property Holdings venture capital etc. You start punishing wealth creation the people are going to stop producing and the whole economy comes crashing down…
They need to stop talking about taxing the rich and start taxing the larger majority of the population some because the rich are only so much of the population whereas the middle-class and working-class are sitting in the wagon while the rich are pulling it
Taxing the rich isn’t going to lift the poor.
It just seems like the government is trying to make it harder for middle class and lower class people to become rich
what a bunch of idiots. block the mega contributions, not the regular $6k.
This is all a moo point. Just get rid of all income (earned or investment) taxes for everyone and we don't have to worry about all this BS. Taxation if theft, plain and simple.
14:08 – 14:14 – This EXACTLY why we have you Graham, more regular, non-money savvy people should sub to your account & get educated : )
Thanks for showing me this IRA trick though you gave me another way to give a middle finger to the federal government!
Taxation is theft in general it doesn't matter who the government is taking money from. It's all road piracy.
Had to live off gov payments after I finished school, started working again recently and I've just discovered I'm making less money then I was before after tax due to extra expenses.
So yeah tax the rich