Kamala Harris's 2025 Tax Plan EXPLAINED
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- เผยแพร่เมื่อ 13 ก.ย. 2024
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can you please cite your research?
i cannot find anything where harris had said any of this. news outlets are saying it but she has not. cnbc has even said that she wants to price fix but she has not said this either. it appears to me that everything you say she said is made up. however, if she had said what you say she said then i agree with your assessment of what she did not say.
@@godnunez I can witness to what he’s saying, and she is given no real outline of any real plan. It seems that she’s just parroting other peoples plans. I have a humble maker podcast myself. I’d be happy to have you on as a guest and we could talk about this. If you like I can show you the footage that I’ve seen as far as what she said and it’s not really a whole lot remember, she’s not meeting with the Price at all. She’s not not engaging with regular people. She’s only doing it from a stage. Does that speak to you?
What a bunch of misinformation and fear-mongering, this is pure rubbish... The proposed capital gains tax increase and unrealized gains tax would only apply to those with high net investment and taxable income, over a million dollars.
Kamala cast the deciding vote to tax tips...
@@DavidFlorez even so, it is STILL WRONG and WILL trickle down to middle class!!
Pay more taxes because Washington does such a good job managing money.
That my whole bit of it! Why does the government need more money? They can't manage the money they steal from us as it is! Ron Paul was right!
Because Washington loves to grow, and new money giveaway programs help it grow.
Most people love Govmnt FREE money. Few understand the big picture.
Dmn fools couldn’t manage a balance sheet to save their life.
Gunna be honest bro Ottawa (canada) does an even better job
@@revellations7741 Good ol' Turdeau
How do you tax on unrealized gains, then have the nerve to tax on it again when you pull it? This is a market killer.
And most of the money people invest is post-tax, so she's badicslly saying, "If you have money, I deserve it."
Which is theft in every other context.
How many people does this affect?
@@DeathsInverse Just about everyone.
@@charlesmartinjr3971 how does it affect me?
@@DeathsInverse today, likely not many. In a decade after the bar for entry has been lowered to an amount of money that most people don't have in the bank but enough people have because they paid into a 401k or pension for several decades, it will affect a good bit more. It's like how income tax was a temporary thing for the super wealthy back in the day. Same game, different colored pieces.
taxes are already out of control.
My employer is taxed for employing me and making money, the shoppers pay tax on the products in the store, I pay tax on receiving my income. (And you wonder why prices are going up...)
Then say I take what's left of my income and I go buy some nice shoes, I pay tax on those shoes. A few weeks later, I'm not that happy with them anymore, and sell them on ebay to try and recover 90% of my money spent. Someone then pays tax Again on that same pair of shoes buying it from me. I again pay taxes on the 'income' for selling them.
And what about bigger things. I buy a home, I pay taxes on it every year for the rest of my life. Its not just a one time tax thing, no- I gotta keep forking up money every year for the privilege of working hard to keep a roof over my head.
BUT THIS IS THE MOST FREE COUNTRY ON EARTH.
MY FOOT!
We need to bring taxes back down to a level that makes SENSE. Consumption! Tariffs! Shortselling stocks! All the other layers of taxing and taxing what's already been taxed needs to End!
If democrats had their way they'd tax us 100% and spend what they need on what they want.
Then whatever is left over would be spread out among the population. We wouldn't need much because they'd take care of our basic needs like food and home.
However whatever was left over would shrink down to virtually nothing and soon our basic needs wouldn't even be met. However they would all be living very well as they'd make sure they got their luxuries before our basic needs were met.
Welcome to Venezuela. Welcome to socialism.
Don't forget inflation! Inflation is its own form of taxation as well. When the government prints money to pay for things it can't afford, that inflation hits your bank account.
This was tge most frustrating realization I had as an adult. It's pushed me to a libertarian mindset/perspective and I'm wondering how bad it has to get before people ACTUALLY commit to change and lowering government control to access to every aspect of our lives.
Giving government more of our money is like giving a junkie more drugs
I like that line! I’m going to use it!
Nope, it is worse, because the Junkie will only destroy himself. But the government will use some of the money to activly make problems with you.
Maybe our government will overdose?!
Ehhhhh a junkie knows what to do with drugs, the government doesn't know what to do with money lol
You mean giving money to a junkie
Never believe a politician. Always assume it will be worse.
I'm not American, but looking at this, I would wonder why the hell anyone would vote for Kamala!
Because they hate Trump.
Because they've been blinded by hate.
Wow you watched one youtube video and wondered that. You dont pay much attention, especially concerning the other candidate do you
@@monistaf3783lmfao “bLiNdeD bY haTe”, only people who are blind are Trump supporters who cant see how corrupt & damgerous he is
@@Jerbraskapeople were financially better under the “other” candidate. Even some democrat politicians saw this and decided to not support their own party. This administration is killing America.
Taxing unrealized gains is essentially a property tax, which implies that the government owns your assets like how the local government owns your property.
Good insight ❤❤
And that is communism
@@Dasutin406that may be the first time I have seen someone use the term communism correctly
Good point. Except that tax on property sometimes yields some services.
At least the local government can claim it pays for services like trash and schooling. What service is this other than "we won't shoot you" tax.
Her tax plan sucks
Trumps is better ….. cuts for the wealthy 🎉
@@Gettin_chunky just like her voters
@@AvtarSingh-hq8mx just like her 😉
@@jakefrost8017Just ask Willie Brown 😮🍆
You think? Vote for Trump and you get to keep your money!
Basically.... vote for Trump. I'm a tax professional. Trust me, you don't want to support Harris' tax proposal. Her tax proposal is essentially "If you're poor, you will stay poor forever".
And if you aren’t poor, just wait until she gets done with you.
Right, cause Trump wants everyone to be able to attain wealth
Trump 2024
…and if you’re not poor, you soon will be….
What do you mean my a “tax professional?” What exactly do you do and what is your title?
She voted to tax tips. Trump stated that he wanted to eliminate them. Now, she is saying she would eliminate them.
Copy cat kamala.
The hypocrite will say whatever she thinks she need to say to get votes.
Just to get vote and when she gets the vote she wont do it
Trump is a liar. 🎉
Trump has said a lot and not done them… Kamala has done the same.. there is no gotcha when both are liars.
That’s right . Give the government more money to squander away..like Art Laffer says…he has never seen a country tax its way into prosperity.
I agree. Get ready to see prices increase exponentially. Someone has to pay and its going to be the average person, even if the owner pays first.
Although I agree on not wanting an increase on taxes, the U.S has prosperity due in big part due to taxes
@@soniclevi9256 I wouldn’t call 35 trillion in debt prosperity.
@@JD-ir2sb That’s because the government spends more than they make. If they spend less than they make we wouldn’t be in so much debt.
@@sanauj15 correct..mismanagement of funds..so why give them more to mismanage. Leave it in the hands of the people or entities who know how to make it grow.
Ridiculous, we are already taxed too much. What a joke.
More than doubling the long term capital gains is insane, wtf. Taxing unrealized capital gains is borderline criminal..
It won't affect you unless you have more than $100 million dollars.
@@hojo70haha! People with over $100M aren’t going to stay to get ripped off. They can live anywhere. So you kick the super wealthy’s money out of the country by taxing them more than elsewhere and what happens to our economy. You gotta think past the obvious.
It will because when they pull out, th little guy will be left holding the bag. If you know what I mean.
@hojo70 it doesn't matter. It's still stupid. It's not right. The government is stupid with our money anyway
@@hojo70Exactly...the trumptards are whining about it as if they make million of dollars 😂😂
in other words, don't vote for her.
yep
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You know how it goes with these tax plans. It starts off as "high net worth individuals" and then quickly becomes "everyone"
Is that why "everyone" is paying 32% federal tax? Seems like that "high net worth" tax bracket has been in place for quite some time. Try again.
@@mattpenn3972 Yes, EVERYONE pays income tax. Not just the wealthy. You must not understand tax brackets. Maybe get a grown-up to help you.
@@canny8228 Not what I asked, is it? Let's just say that we agree that the corrupt, broken, evil current administration has somehow managed to treat "high net worth" people from the upper tax brackets differently from everyone else. Kisses!
Because high net worth individual becomes "everyone"
Is that why tronald dumps tax plan cut taxes for the rich permanently while the working class tax cuts expire???
Really impressed with how unbiased you were in this video. Very difficult to not rip this plan apart when describing it bc of how absurd it is.
This is what the internet is suppose to be . Just report the shit and leave out the hate,bias and anger . That said I can’t consider voting for this plan
Complain about the rich "powers that be" that uses their money to manipulate the market in their favor to become wealthier then when a plan is proposed to target said powers people complain about it too... SMH
@@grahamjl766you think they don’t have ways around that?
@@SteveEagles You don't like how things are now right? Don't let perfect be the enemy of good.
@@grahamjl766 with this plan I’m out roughly 10k/year so no I don’t like it.
It always starts with "high-income individuals", but then when they find out that doesn't give them very much, they have to come to the rest of us.
Harris says it's only for the rich. Keep in mind that they said the same thing when they started income tax.
Next they’ll try tax on unrealized gains on homes. Homeowners will be seen as “rich” with the rise in prices.
She means the same rich that make very good 👌donations to their campaigns. Riiiiiiight!👍
@@LeadLeftLeon That is exactly what I saw on this, who the fuck can afford to pay 25% of their house worth every single year XD.
You republicans are hilarious. You have nowhere near $100M so please stop shilling for your monetary superiors. It is honestly pathetic.
There has to be a way to start making these multi billionaires pay enough taxes that they can no longer just buy the government. We cannot have a democracy under this system.
If it isn't this tax...then what is the solution?
Taking money from people or entities who understand how money works then giving it to entities or people who don’t understand how it works can only end in another disaster.
So the government can easily collect from this who don’t. Like asking candy from the kids. You won’t get candy from adults
Why not take monet from those who have much more than they need.?
@@MegaeffinGarchomp17following your logic, soon you will be asking for those young people their health is ample, why not taking their health? Or for those who don't care about their life, why not taking their life? This is communism.
The fact that this will be an unmitigated disaster is a feature, not a bug. We are dealing with people who want to cause total societal collapse so that they can then seize power and take over. They want businesses to collapse so that the government can take them over. They want your house to be confiscated for nonpayment of taxes so that the government will own it.
@MegaeffinGarchomp17 who gets to decide that? And how much is too much? You only need two pairs of clothes, one sheet, and one meal to stay alive should the rest be taken?
Why should we punish success, effort, self-restraint, and yes good fortune to reward foolishness, indolence and misfortune?
Also do realize, many of these problems exist because industry has now been made around them, industry whose answer is always more of other people's money.
she’s been in office for already four years and now she wants to enforce this.
The problem we have is our government is spending to much
@johnhundt5179 Where can the Gov't make meaningful cuts???
Our gov is spending too much and corporations don’t pay taxes
@@tiberianexcalibur Government can't really control spending, since most of the money goes to untouchable expenditures: Healthcare, Education, Defense, Social Security.
@@tonespeaks As a good start there's a little sumpin' that rhymes with Shmilitary Shmindustrial Shcomplex
@@tonespeaksthey can start by shrinking government those jobs are paid by the taxpayer. Also they can stop subsidizing college tuition. Raise tariffs on imported goods pay cuts for congress. Reduce military spending, stop all this foreign aid. There is a lot they can do main thing is stop taxing the f out of Americans so that we have the capital to start new businesses
Voting for kamala right after they forced Biden out is like changing your shirt after you 💩 your pants.
If these people only lived in reality!
😂😂😂
😂
🤣🤣🤣
Voting for trump after saying Biden is losing his mind is hypocritical
@@MrBucksutubeyou tried
Nope, she said she was for the middle class, but what she means is she's for the middle class paying More Taxes
Tax on money that you have not realized is like being punished for a crime you only thought about committing. Does not seem fair.
Of course it doesn't seem fair when the filthy rich get taxed more
You don’t even have to think about it. They think that you think about it and tax you.
It only affects those with over $100 million in net worth. It will never affect you as an individual investor.
What often occurs is that wealthy individuals will have many stocks, and instead of selling them, they will use them as collateral to take out loans, thus essentially getting tax-free dollars.
@@BoHughDoes that make it ok though? I don't care if it a billion or a hundred, taxing money you haven't earned it outrageous and greedy.
Anyone that proposes more taxes on anyone should be disqualified.We are already ALL taxed like crazy and our government has gotten us $35 trillion in debt. They are the last people that should get more money
AMERICA IS UNFUCKING BELIEVABLE as a veteran trying to support my family work save for the future this is all disgusting
Kamala: “A tax is a tax which was a tax burden by the past affecting tax we pay today. Your tax will become my tax so I will continue to tax you as I kept your tax.” 😂😂😂
Fact check true 😂
Word salad's are her specialty
😂😂😂
Taxy word salad! Hungry, anyone?!? 😂😂😂😂
The person is an idiot. And anyone voting for it is an idiot!
I doubt that kamala could get her tax proposals through Congress. Let's not put that to the test.
It can’t get past congress and even if it somehow did. The Supreme Court would not allow it. But she will try
I doubt Skamala would be in office if they can't get away with cheating on elections
The democrats would pass it.
Then the war in rich people will happen in a different way. Would you like that?
Agree. Let’s not do this.
I hate all of it. Taking more of my money and providing me nothing absolutely nothing in return.
She will take all the guac.
😂😂
ALL
The government owns the guacamole. You are merely renting it. Now pay your taxes on the unrealized guac.
😂😂😂😂
I'm gonna have to quit my job because I can't afford to pay taxes...LOL!
On the nose, more people swilling government welfare and being permanently poor.
Obviously her supporters don’t understand anything. If they did, they will never vote for her.
Her supporters are focused on killing babies
But Trump never lost to a woman so this should be pretty easy
Trump also proposing NO tax on social security,,,,,, its a no brainer who i am voting for
I think this is very very valuable. But it's my understanding we paid into soc sec before tax is the reason why. But hey their the govt and could write a check to cover it just like they give billions to foreign places. And then change soc sec to after tax to help future people.
Yeah. I’m not a big fan of his personality, but the numbers hurt if you vote for Harris.
@@Turtle3000but Kamala's personality is better ..she's an airhead and a disgusting communist.
I think the issue with believing Trump is having to willfully looks pass all his lies. Not sure how that can be stomached.
@@MrDee001If you listen to mainstream media then I understand why you think he just lies. If you actually research you will find out that Kamala does nothing but lie.
Ill pay the unrealized gain with my unrealized sell so that way they can use the unrealized money to realize the problem with this
Well said!!! LOL :)
Your unrealized self sure is wise! 🤣
The genius in this comment section is overwhelming. Feels like a true conservative space. I want to puke
I'm sure you aren't worth 100 million
The whole "unrealized gain tax" thing is never going to happen. You'll hear claims that "they've figured out how it will work," but "they" haven't. It's the slave reparations of this election. A thing for politicians to talk about, that they feel all the freer talking about because they know they don't have the votes to pass it anyway.
@@DeathsInverse _"I'm sure you aren't worth 100 million"_
Capital gains tax is based on gain on investments, not on the net worth of the taxpayer. Further, the Constitution requires that all taxes apply to all taxpayers equally. So while there can be an exemption amount from any capital gains tax, above that exemption all taxpayers with gain must pay the tax up to their marginal rate based on their gain - regardless of whether they are wealthy or dirt poor or anything in between. It's unconstitutional to charge people different income tax rates based on their wealth, or to levy taxes on those with above a certain wealth threshold while excluding those below that threshold.
In short, if there's a new tax then pretty much all of us will end up paying it. Because politicians can't only "tax the rich," no matter how many times they tell you they will. It's illegal.
For anyone who doesn’t understand that bs house down payment…$25k assistance will equate in a $30k or more price increase on that home that will vault the property tax up.
I usually don't vote because I'm not even pro democracy. But this alone has me voting red across the board.
Unrealized gains tax was the final nail in the coffin me for me.
Do you have a net worth over $100 million? If you don’t the unrealized gains don’t affect you.
So you want our national debt to get even worse? Because trump will increase it way more than Kamala. We need tax hikes, that's the honest truth.
@@SenseiJaeyour error is thinking the government will stop there...
@@SenseiJaeJoe the plumber syndrome. Billionaires got the peasants fighting for them.
@@philg3759The plumber knows he is next. He knows the economy is not a zero sum game. He knows people speculate. He knows speculation is based on incentives. He knows the millionaires will either physically leave or their money leave. He knows private investment (the real one, not the magical public) will decrease, hurting employment and salaries
Kamala Harris is a terrible idea to vote for
Really? Seems like a much less toxic choice than trump.
Given the alternative she's the only viable choice.
@@tzimedcan you explain why Trump is not better?
Lol@@tzimed
Can you? 34 convicted felon & 90 more waiting...are you serious here?@@georgecaballero3405
These taxes are evil!
Wow if only the people knew and understood this no one would vote for her!
Ha! As an undecided independent voter, I think it's a lot of fun to watch the $100M+ elite squirm with even the mention of the unrealized capital gains tax. She might have just earned my vote with that alone!
It won’t affect the $100m-aires. It will trigger major economic catastrophe which will be realized by people who think like you do.
@@mattpenn3972think about cause and effect you can do it it's not that difficult try to use your brain cells
@@mattpenn3972 Does it make them squirm though? People with that much money will have no problem moving out of the US. Depriving the federal government of ALL the taxes that individual would've paid otherwise. In Canada, they recently raised the top tax bracket rates and actually saw a DECREASE in tax revenue because so many people left. In addition, taxing unrealized gains is a sure fire way to STOP people from investing all together, significantly hurting every single sector of the economy, and hurting small businesses.
@@godofganja5111good moved out go lived in Russia see how that work out
Great video Jaspreet! It’s a hard No on tax for unrealized gains, hard No on her entire proposed tax plan!
Are you worth 100 million?
@DeathsInverse once they find a way out of it, who do you think they will tax then?
Income tax was for the rich, but we all pay it now. Do you really think the rich will pay more taxes when they already pay nearly 50% of all taxes? Enjoy your unemployment and great depression.
@@real-ishstraighttruthnocha1687 ahh the "I don't mind taking it from behind from my corporate overlords" argument. Why tax them at all while we're at it, we should volunteer to take some of the burden off them.
@@DeathsInverse no, I'm saying that we don't have the funding to make corporations pay their share. Think about it. If I was Elon and you said you taxed me by almost 50%, I'd leave country. You're talking like America is the only country in the world. Many other countries would gladly not tax everyone to death and roll out the red carpet. We've seen richer people leave the US when things got rough. You don't seem to care though as long as they are as poor as your or I. That's not how economics works best. We're supposed to be smart in purchasing and using our funds. I'm not taking anything from behind because I know how to work and save. I also know how to invest and research. We're supposed to save, invest and start our own businesses ideally so that we can grow and become wealthier. It's not Walmart or Amazon's fault we buy their crap. Stop buying stupid stuff and the rich won't be an issue. The question is simply this. Does the government have a good track record taxing and spending money? You know the answer to that one.
If you think this is taking it from behind, I can't wait to see what you describe the new Great Depression Kamala causes as.
@@real-ishstraighttruthnocha1687i would like for Elon and Amazon to leave the country. See the problem is that they already caused the problem. They brought over goods from other countries, at much lower rates where most American companies can't compete at. If we have a solid number that the government sticks to, as they should- then yes we will suffer as a country, but we will come out of the depression with much better products/ more trustworthy companies.
Great...Let's make taxes even more confusing ...and HIGHER!
Tax to government is like an alcohol to an alcoholic person, they'll keep asking for more.
Say NO to Kammunism
NO f no.
Real
Why shouldn’t we help our citizens and expect people who live in luxury to contribute more?
@@shawnpatton3795 They won't. they will just quit your country
@@shawnpatton3795 you are a clown if you actually believe in that garbage
She opposes price gouging, yet wants to price gouge everyone with tax increases.
The taxes alone disqualify Kamala for me
Kamala tax rate would equate to approximately $1600 less take home pay a year for a salary around 80K a year. Just what we need less money in our pockets!
Dont forget the ramp up in welfare spending so that bottom category will actually pay negative taxes XD
You forgot to add that Trump tax cut was permanent for corporations and temporary for citizens. So you know where his priorities were and are!!!
And with inflation...
If the unrealized gains tax gets passed it will never stay at the $100M threshold; I guarantee it will become watered down to where everyone will eventually pay unrealized gains no matter the amount. Much like social security was once voluntary and with Obamacare you could keep your doctor. Corporation tax increases are also a sham because the corps will pass all tax increases down to the consumers who buy their products. Corporations never pay more in taxes; consumers pay more for the products to offset the corp taxes. Why can no one see these are all bad things?
---> "Corporation tax increases are also a sham because the corps will pass all tax increases down to the consumers who buy their products. Corporations never pay more in taxes"
Actually, you are mostly wrong. There is only so much a corporation can offset to the consumer before they cut into their sales. Reduced product sales is a bad thing for a company as retaining and storing supply becomes costly. Some products may have a shelf life, which is even worse. Companies always do best when people are buying more, even at reduced prices. Never under-estimate what the consumer is willing to pay. When a company cannot offset any more of their costs to the consumer, they cut jobs internally. They shrink departments. They phase out less desirable products. They reduce expenses.
As someone who has worked as hard as I have to change my life, was homeless and now a home owner. I'm hoping and praying she does not get in. My wife and I make enough to cover our bills and eat decent, not steak and lobster dinners either. If our taxes go up we will struggle more than we are now.
if you struggle enough you might qualify for the immigrant benefit. that's where strangers live in your house because ... erm... well... its a benefit. yup.
I'm here to help.
Same here. Pulled myself up from nothing, homeless and literal starvation, and these envious bastards want to take everything I’ve busted my ass and sacrificed for?
She sucks. I’m not voting for her!
Well, don't just "hoping and praying" ... go vote Trump! Plus go get others to vote Trump!!!
Do you invest in a 401K or other IRAs?
This is a really good idea! It would work with a 100% success rate at having companies move headquarters overseas and the US losing out on 90% of the taxes!
People with money aren’t patriots. The poor of our nation makes up the majority of the 0.4% active duty military members. Active duty members risk or sacrifice their lives lives but the rich can’t sacrifice profits for their luxury cars, boats and aircraft?! What the F is our expectation of an American?!
Not good because we will completely be dependent on other countries. We still need our own corporations here in America. We need to take care of our own country.
@@genesis1716 by licking their boots and being grateful for the scraps that fall off their tables?! No thanks.
Why would our government want to discourage us from saving or investing?
In Canada we pay 67% Capital Gains Tax. We aren't allowed to have money.
A small price to pay in order to pay a high price!
Canada’s gains should not be there unless gains are adjusted to inflation…no politician is talking about because people don’t understand this
They also increased the amount that is not taxed at all. This doesn't affect many people and the people it does affect can afford it.
Keep voting Trudeau.
@@laundrygoddess4 still, why would people start a new idea business in Canada where, IF they are super succesful, they are going to end up being punished for it in the end? This is the reason many companies decide to start their company in the US, especially where taxes are low, because who loves paying (high/very high) taxes?
Tax on unrealized gains is bound to crash the market !
Taxing money you have not made yet is a frightening idea. Anybody that thinks this will stay on only the ultra high net worth people needs to remember that the income tax was never intended to be levied on the common person
@@lowermichigan4437 If a person has 100 mil then they will probably make a lot of more money in the future. May as well tax it before they figure out how to hide that revenue.
The 25% tax on unrealized gains scares me the most out of all her policies. It would mean the economy would crash like 90% overnight as all the big companies in the S&P would relocate to countries with better business policies. It would also likely mean that no one would be able to retire in America anymore. Extremely terrifying thought. She needs to lose. The stakes are way way too high.
Higher taxes means we will make even less money, and assisting homebuyers with cash will make prices of homes to spike and continue to be less affordable.
It’s as if she’s trying to further destroy the Middle Class.
What middle class!
Taxing unrealized gains is wild 😂
Imagine having a business that does really well and has a good year. You would have to SELL shares of the company against your will to pay it. It’s absurd!
@@ledzeppelin1212NVDA having to sell shares to cover that tax burden on a year like this one would utterly crash the market. And that’s just one company!
Yea give my money to new home buyers when I didnt get crap for buying my first house
Almost right, give our money to new homebuyers who are so finnancially unstable they cant save up a downpayment for a house. This leads to lots of people who SHOULD NOT BUY A HOUSE getting into debts they will inevitably fault on causing serious issues.
They will give it to illegal aliens and foreign governments to money laundry it back to their bank accounts.
@@afterthefact6708 house price will increase 25k$ 😂😂 then what will be the difference. just people will get trap on a house 😂😂😂? which they can't afford. just they get excited because they are receiving 25k$ for buying a house 🎉🎉🎉🎉 and thats a clear trap
@@surojsarkar6054 I agree, its sub prime lending all over again. If you cant save up enough for a down payment you should not be buying a house.
Not just any buyers it’s for illegals
people who are self-aware are NOT voting for Harris. Too bad half the US isn't
I will never understand why people support corporate tax increases. Corporations collect tax revenue from their customers and pass it on to the government. A corporate tax hike is an increase to the consumer in the form of higher prices.
Corporate tax is a percentage of profits. Regarless of pricing they will still pay the same rate. Prices are a result of market competition and they have fucked us on that by allowing corporate monopolies to control pricing.
It sure is. It all trickles down.
@@johngalush8790 corporations are not the enemy. We are all interconnected.
People are financially illiterate and can't think themselves out of a paper bag.
This tax plan sucks. I don’t like making doing business difficult especially during a downturn in the economy.
People bragged about the Simpsons' prediction with Lisa and Kamala, and I knew right away that it would imply a tax hike 😂
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@@mattanthoney967 if that’s your response then you wasn’t paying attention to this video at all.
@@mattanthoney967stay on the lib plantation then. Your choice
@@mattanthoney967You keep voting for your own takedown then 😂
@@SmokedPaprikas u must've been dropped on your head to be bothered by a mistake on a comment
Giving free 25k down payment is the dumbest idea... The money will just go to the producer , not the consumer as the next day house prices will go up by 25k.. the very fact that Kamala is proposing this shows she doesn't understand how capitalism works
Don’t worry, it sounded like it’s only for first time homebuyers that are first generation… which doesn’t apply to most Americans. Certainly not me 😂
You would be a fool to vote for Kamala.
So based on the trajectory, a 100% tax rate is coming, at some point...
That would be full mask off, back to work peasant, you get your subsidized shit housing and welfare food and you like it! Hell some people are already living like this.
Communism
I like how taxes have just become this automatic rate hike that we have no say so in when it’s OUR money and OUR government.
Unrealized gains tax is ultimately what makes me say no. They will treat it like income taxes. It was only for the upper class then in five years the middle class and upper class till eventually, we all do it.
Exactly! This is so ridiculous
Also this will have a direct effect on the average person. All this money going to taxes or investment withdrawals will reduce R&D, hiring, or in fact increase layoffs. So don't be fooled into thinking the average person won't feel the effects.
I'm still waiting to hear how any of this will positively impact Americans. Every one of these proposals aside from the child and tips taxed HURT Americans. we can't let this happen.
I dont agree on tax credit myself. People choose to have kids, the tax payer should not foot the bill. I do agree on tips not being taxed.
Taxes on unrealized capitol gains is nuts 🌰
Insanity… I must be living in bizarro world…
I feel exactly the same way. She has to lose, the stakes are way too high.
Paying taxes is one of the dumbest things a citizen in a free country can do. Quit filing.
They already take it directly out of your check, if they make a mistake, that is on them.
So she isn't just taking away the capital gains discount for keeping the investment a year, she is raising it to almost 50%? I mean, before, it just went to ordinary income tax rate. So retired people will lose half of their investment returns on money not in retirement accounts? That is crazy! How are people voting for this?
What are you talking about? The plan only affects people with a net worth of 100 million. Y'all are losing your minds over nothing. Neither you or I will ever have 100 million dollors worth of assets.
I thought that was just for the taxing of unrealized gains?
Nope I just watched it again, that is only for the unrealized gains. This will affect everyone!
@@nevincuff3621 Geez man don't be a simpleton. The mega rich run the gov. They'll walk this policy down into your tax bracket within a few years. The mega rich will get their loopholes out of it. But you won't.
@@stephanieb5um no! 🤦🏾♂️
I don’t understand how anyone that has amassed any wealth would think this is a good plan. I’m not wealthy by any stretch of the imagination, but going from 20% capital gains to 44.6% will devastate most anyone that has money invested into the market.
Let me just give the government half of my money, jesus XD
How many times have you ever heard of politicians say they're only taking water out of one side of the bucket
You skipped what corporate taxes will actually do to the lower and middle class. If Trump's corporate tax rate was 15%(I think) and kamala's raising it to 28%, businesses will just raise the cost of their goods and services.
Also directly damages middle class people's retirement. Nobody has a pension anymore. Everyone has a 401k. Like it or not, if US corporations don't do well, none of us are going to do well.
This is 100 percent right. But let's not forget, she's going after price gouging. Lol what a joke
I'm not paying $6000 for every woman that Chad knocks up. He can pay his own child support, and leave my income alone !!
The child tax credit is a nonrefundable credit so you can only get back what you paid in, the money isn’t coming from other tax payers.
@@ninjatreefrog9346Wrong!! Three kids equals 18 Grand even if you don't work.
@@denniscosban6145I saw on social media on how plenty of people want to get pregnant and get those tax credits. They think 6,000 is going to be enough when inflation is happening and cost of living is rising.
@@denniscosban6145 wrong!
He's not wrong. I've gotten it before automatically just by filing taxes@@julienalexander6113
It’s not a tax problem.. it’s a spending problem
Thank you for this break down
They spend we pay
You're free to go away to where you feel you are treated best.
@@njay4361if government spend it correctly, I believe regular citizen like me will not have issue. Now we need to make money to support “illegal invaders” as well, and war that is none of our business.
@@njay4361people are entitled to their first amendment right.
Go to Russia or China and see how you get on. The middle and lower classes need a lift, we don’t need more tax breaks for corps and rich people.
@@njay4361 If you like the idea of over taxation and a socialist society you are free to go away and live there where you would better fit in.
Taxing unrealized gains without reimbursing depreciation in value would essentially mean that the investor bears all the loses and the government reaps all the gains. That’s LITERALLY the definition of a zero sum game and would completely devastate the stock market!
Wouldn’t the stock market crash if she gets into office? Everybody would be selling to get out of paying that extra 20%
She would be the president and not a queen simply getting elected does not guarantee her policies will pass the house or the senate.
That's only if you have over 100million in assets.
@@Whitebishop89 yes but all the big money is what moves the market all this little retail investors don’t even make a dent in the stock market price, but all these millionaires and billionaires selling will
@@Whitebishop89it would tank the market as billionaires sell shares to cover taxes. It would crush 401ks and the little guy very quickly.
Maybe not saying the tax should happen but I dont think it would really move the needle
They need to eliminate all individual taxes and stick with tariffs.
You really think a tariff would pay for our bloated military?
25 years ago, this tax plan would have been unheard of. It is dangerous.
Corporations would raise their prices and pass down this tax to consumers. So when you raise taxes on corporations you raise taxes on us.
Then no one will buy their products and competition will flourish.
@@aceyageyes you will you won’t have other options it will be a raise by all corporations across the board where will you get your milk and eggs and electronics etc build them yourself? Start a farm?
This is a load of shit.
Our national debt is out of control and we are in fiscal collapse. Raising taxes does nothing
We arent
What's that Timmy? The sky is falling?
The problem isn't the debt itself, the problem is rising deficits year after year, that are outstripping economic growth during a period of expansion to boot. That could be brought under control by freezing spending at current levels and moderately raising taxes, but then people would cry about how important their pet program is and how we need to increase spending on X. As if the federal government is the only entity that could possibly address X.
Taxing unrealized gains is unbelievably stupid
This is so they move more of our hard earned money into their bank account!!!! To make sure the vacations they're taking are more plush !!! 😅
Get her out of here
No, don’t go back with Trump
@@yo3rdtier128 oh ya I’d haaate to have 1.90 a gallon gas and closed borders again
@@yo3rdtier128you blind?
@@theshamanist113 yeah, when covid was in full affect and nobody effin' DRIVING! OMFG... I CAN'T WITH YOU PEOPLE 🤦🏾♂️
@@julienalexander6113 no in 2019 gas was under 2.00
I don’t care how rich or poor you are. Unrealized gains is robbery.
No more dividends being distributed is what in hearing
So what happens if you buy a stock it goes up a bunch. The government takes a bunch of taxes then the stock crashes in your sell for a loss. You paid a bunch of taxes on the stock that you lost money on.?
Exactly the problem
Are you worth $100 million? if not then you don't have to worry about it.
Nothing like getting taxed multiple times on the same amount of money XD
@@10Boxing
it doesn't matter HOW MUCH a person is "worth"...
It's simply *PROBLEMATIC*
@@10Boxing That's what they said about the US Income tax back in 1862. In 1913 the working class were tagged. You will be tagged too. The ultra rich run the gov. They'll walk this policy down to your tax bracket. Then you're poor forever. No way out. The ultra rich will be fine, they'll get their loopholes out.
She should not be allowed anywhere near the white house
Recession incoming
Haha...that's cute. Very funny...it's more like a total economic collapse.
Already at recession.
Just because the democrats charged the definition when it made them look bad does not mean it is not happening.
Come on, people. We need to give more of our money to the government, because it has been proven to help make our air cleaner and food healthier.
Clearly. Now, it's been proven that our food has extremely questionable chemicals in it! Working as intended. Keep giving more and more taxes for your hard work to the wealthy elite.
Hahahaha ah hahaha hahahaha
I would prefer to have no income tax, no corporate tax, no capital gains tax, and certainly no unrealized gains tax.
Replace all of those with a higher import tax.
This is going to make things so much more expensive, watch. It's going to be an economic downfall of epic proportions.
You think Trump’s 10% blanket tariffs won’t have the same effect? The only reason his first round of tariffs didn’t strangle us immediately was the stimulus checks he gave out.
@SenseiJae lol. The stimulus was due to the CoVID19 lock downs. Which were terrible for our country btw. Under Biden-Harris we had UNPRECEDENTED (and still do) inflation. We have multiple new proxy wars including sending Billions and billions of our tax dollars to Ukraine. None of which happened under Trump, nor would have happened had he been re-elected. Biden-Harris own thier trash record. FACTS.
@@SenseiJaeI can tell that you aren’t versed in worldwide economics. You need to look up what other countries have been doing with their tariffs. Trump’s plan is a direct response to that, even though his tariffs aren’t as high as some of them.
Lots of "derrrp none of you have 100 million" comments. Lets translate.
You have a couple thousand invested in coca cola (ko). Warren buffet has MILLIONS. Warren sells off to avoid this tax. What do you think happens to the stock price when a massive sell off occurs?
A lot of average folks lose a lot of money that was for their retirement.
It’s great though that the liberal voters keep falling for this tax talk though ya let’s tax the rich and corps
Stop spending money overseas. You won't have to worry about raising taxes.
Yeah, that's going to crash the stock market hard.
Good it’s overvalued. Back to a true meritocracy where you actually have to do something to get rich.