WARNING: U.S. Taxes Are About To Go Up (How This Affects You)
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- เผยแพร่เมื่อ 4 ก.ค. 2024
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Chapters:
00:00 Intro
00:03 United States Taxes Are Going UP?!
02:15 Elon Musk Really Wants That Paycheck
04:08 Fabric!
05:36 Weekly Market Update
06:39 The End Of Alamo Drafthouse Cinema
08:41 The Future Of Alex Jones
10:44 New Set!
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Why is the policy always increase taxes and not decrease useless spending?
Their #1 priority is getting voted in again in the election cycle. Taxes on people with a lot of money is popular and cutting things to balance the budget is unpopular
What spending do you consider useless?
Medicaid, it costs the federal government over a trillion dollars a year and does nothing.
American culture/mindset/excessive optimism of spending being “good” for the economy, govt incompetency/power flex. Inability to say no
Because the interest outweighs the revenue. We will never have less debt again. That means taxes will only go up
Government went heavy on the taquitos
Taxing unrealized capital gains... can't wait to see that ridiculousness unfold.
I would if they’ll credit back the unrealized losses too lol
What does "unrealized" mean?
@Madamchief something that is not yet reliazed, due to not having its basis converted (Cost basis).
So if you are holding an investment, government can tax you if market price goes up even if you do not sell it. However if it loses value you do not get any deductions.
@@Gstunfisk 🤯 including property??
@@Madamchief it could be yes
We need Caleb to financially audit the IRS. The world is not ready to handle that amount of taquitos.
I’d worry about his blood pressure during that audit.
The IRS easily provides some of the best ROI when it comes to government spending. 😂
1.Increase taxes
2.Send money to foreign countries
3.???
4.Profit
They profit directly from step 1. Step 2 is just there to rub salt in our wounds.
I think what drives me insane is you only look at the money going out while not taking into account the money and value that comes in from the place we hold in the world due to our money and influence
Except they’re in $34T debt. 🤦♂️
3 = invest in international stocks
Honestly the amount of money that goes to foreign countries is very small compared to the amount spent on irresponsible people who refused to save for their own retirements and health needs.
I love that “week over week” is abbreviated “WOW”. It makes it sound so much more exciting
🤣
I kept reading it as WOW lol. It's like I could stop my brain from doing it.
I hear the "WOW" sound effect from Fairy Tail
I’m glad it’s a new set and not being forced to become a member to keep seeing content
Enjoying this format you’ve created Caleb, no drama, short/digestible (ideal time length), entertaining/interesting
Yes, tax cuts absolutely should be extended. Folks have been struggling to make ends meet for over 3 years now and increasing any other expense (or taxes) at this time would only make the situation worse.
They don't care, they want to destroy this country and we just keep voting these jokes back in.
Tax cuts for corporations?
@@Madamchief everyone, but yes even for corporations. I’m not really fond of Jeff Bezos but I’m fine with Amazon getting tax cuts.
@@Amzgllc for real! 10% of bezoar's income could fund healthcare for everyone 🤬
Maybe consider cutting spending at least until the pentagon can pass its audit for once.
Love the shortened intro!
I’ve got no problems raising taxes on corporations and lowering taxes for individuals… but I’m an individual, so may be biased 😂
Exactly, tax the corporations
We should just treat capital gains tax as normal income tax and then raise it for the higher brackets. Research shows it solves the deficit since a lot of tax loopholes stem from the rich paying themselves mostly with investment instruments. Taxing corporations and treating organizations as people leads to bad legal downstream affects like allowing them to lobby congress
@@ornettebreaker They will just raise prices. We have to cut spending! Stop paying for people who refuse to save and budget for themselves.
Caleb + team, you are awesome and this show is too. Straight up news with no bullshit.
Thanks so much! -Mika
We need a tax system to decrease wealth inequality. To do anything else is not enough
Letting you keep more of your earned income so you’re not working for free 1/3 of the year would be a good start.
@@SeiyaSoiya-un4jjRaising taxes in corporations and the wealthy would be a better place to start.
@@TheJerry93
Why, so more of them can move overseas? How’s that been working out over the past 50 years?
@SeiyaSoiya-un4jj The last 50 years have certainly shown us that lowering their taxes hasn't worked,
It won't be as easy to leave the US as it is European countries that have implemented high taxes on the ultra wealthy.
But it trickles down!! 🤪
This is a great extra channel
Yes keep reduced taxes on lower income household, yes raise taxes on corporations, yes reduce loopholes for coroporate taxes, yes regulate ceo compensation packages. Yes start shopping locally at smaller businesses to support actual people. Profit.
Facts
Thank you.
Youre welcome
@@calebhammeryourweekinmoney the scary part is if They liquidate Alex Jones personal Twitter handle...... I fear big corporations will use it to stop free speech in the future. IT's a terrible precedent that we should all be voicing our opinions to stop.
Uuu, the new set is pretty! Will you keep the plant though lol
Caleb, when are you audit reviewing the United States?
Financial audit but the guest is- the Federal Government
Vanguard DID vote in favor of the package
Say what you will. Alexius Jonus as lead singer of infometal is hilarious
I don’t think I make enough money yet to be charged for capital gains in an investment account. This goes over my head because it seems like every investment opportunity costs more every year.
A lot of wealth has been transferred to the top 1% and while I am not a fan of the government intervining, wealth inequality is definitely increasing to crazy levels and that cannot be a good thing for society as a whole, so some taxes are required. Some inequality, sure, but things are getting out of hand. Educating the public about finances, as Caleb does, I believe also helps with wealth inequality.
100% with you on this! I'm fine with people and corporations making a lot of money, but like you said things have gotten out of hand. And if they keep this path it will even be bad for them.
so the solution is to help other people become wealthier not to artificially manipulate the wealth of the 1% with higher taxes that will have effects on everyone not just the people it has a direct effect on, and why do you think the government is better at spending than businesses? we pay 600 BILLION a year in interest charges and your solution is to give the government more money? we need a small government with less money and less power taxes hurt everyone
Yeah seems like Caleb's interests have changed now he'd making 7 figures
@@ornettebreaker I highly doubt Caleb is making 7 figures, would be surprised if he even close to those numbers. Hope he gets there tho!
@@Max78912 large corporations got a fat tax break 6 years ago, it didn't do much to help on the working class side. They did record amounts of stock buybacks, that only help them an the shareholders. I don't recall them dropping any prices, an recently they have been raising prices like crazy.
It's easy to increase taxes on large corporations and the rich without doing stupid stuff like trying to tax unrealized gains. It's also super easy to lower spending by reducing military budgets even a tiny bit. It's only made complicated because all of the people who can affect the conversation are rich so they don't want to act against their own interests.
I'd rather reduce spending on things like Social Security and Medicare. At least the military keeps shipping lanes safe, and is a bulwark against countries like China and Russia. I have no interest in funding social programs for Boomers who made this mess, or others who refuse to save and budget for themselves!!!
Military spending is one of the lowest expenditures. It's only 3% of GPD.
@calebhammer can we get a financial audit of the Fed? 😂
well he was right about the frogs
Luxury tax please
This is why you use your Roth accounts!
Tax the rich/corporations and implement strategies/policies to improve the middle/lower class.
Taxing corporations will just make them raise prices. I'd rather cut spending on programs that help boomers who made this whole mess.
we honestly really shouldn't tax large companies, money is better spent by the private sector when it comes to economic growth, It's not that I love billionaires, it's that I don't trust our corrupt bloated government to use that money effectively considering we've been gaining debt so fast our interest payments are now more than the defense budget, we need to clean out Washington and cut cut cut government programs before the social security for everyone under 30 dries up
I saw that Forbes piece on that address to the speaker of the house or whatever, 400b of Medicare directly linked to obesity related complications! Insane. Something needs to be done to actually get weight loss going and stay off.
Here comes the drugs to compensate our unhealthy lifestyles
There should be zero personal income tax on the first $250k in earnings. (Not investments) Capital gains should be higher for those with incomes in excess of $500k.
Stock buybacks should be outlawed
Did you get demonetized on the video?
Not yet! 🤞🏻-Mika
America: Let's cut the national debt.
Dems: Okay let's raise taxes on millionaires and corporations.
American guy making 67k per year: *tears* "You're going to raise my taxes. Just as soon as my hypothetical plumbing business becomes a major franchise and takes over all the pooping needs of America I'll have to pay more in taxes. I won't have any money to eat!" //gets in 80k truck with 1200$/7 year note//
literally why do they think this will affect them🙄 i swear people choose to be ignorant
@@oliviaxx9022 they all think they're going to win the lottery tomorrow.
Make sure to get those Roth contributions/conversions in before the change!
Do people pay taxes trading stocks?
The situation with Elons pay package is beyond currption and the biggest threat to democracy and capitalism, it's a disgrace that the judge ruled how they did.
The tax burden is unfairly put on people that actually work for a living. It makes sense to raise taxes on people who make their income off on owning assets instead of contributing to society / the economy.
Owning assets does contribute to the economy and society.
Tax credit card companies
They'll just increase prices/interest rates/give less rewards.
Nobody is coming to save you.
How can people say your economy sucks when the market keeps going up and your unemployment is low? Add in that inflation is slowing and I think you're doing ok.
The national economy is fine... Their personal economy is not.
Heard a McD ad on the radio the other day for 2 cheeseburgers and a basket of fries for only $8. In 2019, that same order would’ve been less than $4. Inflation may be slowing, but the damage to the economy has already been done.
Deflationary monetary policy is extremely difficult to pull off. Between the two candidates we have this year, I believe only one of them *might* be able to achieve USD deflation through increases in U.S. energy exports.
@@zedalvea841 exactly. And that is likely their own doing
@@EveningOfficer deflation is not a good thing for the economy. You always need a little inflation to keep the economy going. Deflation leads to more layoffs and economic instability. Corporate greed is the issue.
@@laundrygoddess4please stop, it hurts to roll my eyes this hard.
Maybe the government should spend less, and shrink in size. Just a thought!
Absolutely!!!
Graham Stephan FTW ❤😂
Bold of you to assume we pay taxes…
Am I the only one who looks forward to these and watches them every morning lol
Appreciate it!
Taxes will increase in 2025 for individuals after the job cuts act expires
2026
There used to be only one way to stop all of this....
Those new IRS agents were hired to go after the middle class, unlike what they claim.
US Tax rises dont affect me
(im british)
Hi British!
The US gov’t just got a reduction in credit rating. It’s clear there’s a problem with gov’t overspending. Having a tax increase right now is like enabling a spending addict.
Taxing unrealized gains is the craziest thing I've ever heard. I'm by no means well off or Rich, but it's nice to have a path forward to possibly one day becoming well off or Rich and taxing capital gains more than they already are and unrealized gains essentially puts a glass ceiling for everybody. Taxes are theft
Iirc, the tax cuts Trump passed had a pretty flat structure and they were never sustainable. They should let them lapse and pass new progressive cuts that are strategically better aligned with the corporate tax changes and our current economic landscape.
How about instead of increasing taxes, cut these politician pay. Gods know that they all have insider knowledge when it comes to investing, so why pay them high salary
You could cut Congressional pay to $0 and that would barely budge spending.
@@pakaza12 might as well do it then
How DARE you insinuate Venom movies are flops. I hope your beloved Alamo Drafthouse turns into AMC next
We literally showed every “major” movie besides venom for a reason, caleb and I love tom hardy lol -Mika
@@calebhammeryourweekinmoney sounds like some back peddling there, Mika 👀
Doesnt matter, cant afford to pay my taxes anyway. Living bare bones and inflation is destroying my life. fuck
FJB. We already pay enough taxes. They need to stop funding both sides of every conflict and sending the whole world into chaos.
You do realize that under Trump tax program the working class taxes expire, but not the wealthy and large corporations. Biden doesn't want to raise taxes on any household making less than $400k, but Trump does.
We're funding Russia?
@pakaza12 , yeah. Biden has been allowing Russia to funnel their oil through India to avoid the sections.
In some cases we were actually buying their oil.
Add to that Biden shut down American oil and gas sector with executive orders on day 1 in office to kill new leases.
That drove the price of oil up, helped Russia fund their war, and fueled inflation in the USA.
Pure stupidity.
Just spitballing here, why not CUT SPENDING???? We do not have an income problem.
The bulk of spending is on things people are afraid of cutting, like Social Security and Medicare
NO MORE FOREIGN AID
The argument 'if we should be increasing taxes' should only be held after the argument of 'how efficient those taxes are being used.' Of every $100M spent, what percentage do you honestly believe is going to that specific purpose?
People in the comments complaining about tax increases like they are billionaires
You serious? I am no were close to rich and 1/3 of all my money goes to the government. I do not think that is a little bit of taxes.
We complain about taxes because we are not billionaires. We need every single bit of money that we can
we need to cut spending not increase revenue, as long as we still operate in a deficit more taxes aren't gonna fix anything, and a lot of the cost to corporations will *shocker* be passed down to consumers. So no, I will not support increases in taxes for anyone or anything while our government burns 600+ billion a year on interest payments because our greedy leaders can't balance a checkbook
Sir when corporate taxes get raised 99.9% of the time that cost is added into the products you buy.
people like you who think tax increases for corporations will only affect corporations and not consumers are incredibly ignorant and dangerous to this discussion, please refrain from voting until you learn a tiny bit about economics
Holy Russian bots Batman!
Corporate taxes are passed onto consumers I do not understand the inability to grasp this while I watch people demand the taking of other people’s money
It's the same people that think they can tax themselves into wealth.
But yes, they are always passed on. They can raise prices, reduce head count, etc. It's like people think "a business" is just this magical thing that has somehow their money in it and they'll just magically pay. Somehow, if you raise expenses for a business, they don't do the same thing a consumer does when bills go up: they make cuts and compensate.
The "just tax them" mentality is just ignorant greed.
Then where do we stop? I mean I get what your saying but when they got a 13% tax cut last time they didn't drop prices. I think a 15% minimum tax would have been fair?
@@YuccaTrash79 I think a private business would spend that extra money to grow the economy better and faster than the government, you think ceos are greedy? wait till you hear about what politicians do.
@@Max78912 while I agree with you that politicians are greedy, CEOs have shown us recently that they are just as greedy. With the tax cuts from the last administration they got, they posted record stock buybacks. Which just pushed their stock prices up. Corporate tax rate should go up and corporate money needs to come out of elections campaigns. It's a vicious cycle that both sides just feed each other but ultimately costs the tax payer the most.
@@YuccaTrash79 I think the problem you have is that you're jumping the gun and presuming a level of taxation but only to an unknown and arbitrary end. Guesswork isn't going to get anyone anywhere. You have to start from the ground up. Macro to micro.
The first issue I would bring up is that taxing more does not lead to more wealth in an economy. Consider Bastiat's "Broken Window Fallacy" and "The Seen and Unseen".
Secondly, economics is descriptive, not prescriptive. Anyone proposing prescriptive economics is going to run afoul of numerous fallacies.
Economics is first and foremost, human action, not physics with repeatable cause and effect but there are general patterns. Lowering a corporate tax rate is not necessarily going to lower prices (for reasons I can get into if you want) but raising the costs of doing business such as through taxes is most assuredly no means to lowering prices.
It's all very simple but it is an expansive issue so it's hard to condense into a short comment and I'll fill in as best I can if needed.
First
Love your stuff Caleb! Hire me to be your construction manager for build outs on your rental properties and the media business!
Nice
Elon met their goals and they were ambitious goals. That's all that needs to be said.
watching people talk about money here makes me want to return to the farms and steal land from the rich just to plant food and make off grid housing on their grounds and become an movement pioneer
Don't steal land from anyone, you're better than that!!
Fun fact: You can just donate to the government if you'd like... Do it... if you think taxes are so good... Just go do it, leave us alone. It goes to the debt, but that helps future funding of endless war too! Isn't that perfect!
Those who want higher taxes are either not the ones paying them, or they want everyone to suffer with them.
BUT BUT BUT I was told only Trump raises taxes 😂
That's true, these increases were part of the 2017 tax changes
Keep voting blueeeeee . Lol
Time for all those "Well I would be willing to pay more in taxes!" folks to start to pony up.
Tell you what, get in touch and I'll let you pay now. You get the feel better about yourself and I'll pretend to feel shame. Deal?
It’s corporate greed, not the government. The government cares about you so much and would never raise taxes on the 99%. The government is benevolent and supremely loving. The the corporations that are evil. All hail daddy government. ❤️❤️❤️❤️❤️
Has to be satire. No way it isn’t lol
@@TheSomewhatDarkSoul Troll account.
vote Trump (or repub in general) and you won't have higher taxes
Just as long as you remember that the golden age that republicans want to return to, had a 90% tax rate for the wealthiest Americans
@@lVlegabyte You guys always take everything so literal and even get the history wrong. 1. while a lot of republican politicians are complete shitbird liars about lowering taxes save for a few, people generally on the "republican" side actually want lower taxes with no 90% rate on anything. The opinion isn't tied to an area or copying every aspect of it. You may as well say that anyone who wants lower taxes also wants to ban refrigerators in favor of ice boxes.
2. No one actually paid 90% in taxes. Not even close.
Vote trump and you won't have higher taxes if you have higher income
Aren’t the gradual increases on taxes for the middle class written into the 2017 tax bill that Trump spearheaded? It only put permanent tax cuts for corporations.
@@mikep1530 100% spot on. I believe next year our taxes go up per Trumps tax plan.
Yes!! Extend the tax cuts!! It has helped so much and the Government needs to cut spending, not try to suck more from us!! Vote Republican!!
For the Elon stuff, government and the left need to F off! its the companies choice, he hit those goals, let them pay him!! Its not tax payer money, so shut up outsiders.
Cut programs and more people suffer. Tax people and corps who can afford it isn't a bad solution
TRUMP 2024
Every segment has it's own T-shirt. I actually don't mind as they are each a work of art. Gorgeous.❣ 🤌🤌🤌
Tell people to make their car and mortgage payments 2 weeks before the due date to save on half the interest
This only works the first month you pay early. After that, your interest will still be the same as paying at the due date.
It might be time to do some research about amortization schedules.
Extra payments matter, not timing the payments differently within the month. If you want to save on interest: make a higher down payment, choose a shorter loan term, and/or make extra payments early in the loan term so more goes to principal faster.
@@thebosshouse you're both wrong. I put this hypothesis at work and it cut down my friends interest in half on his car loan payments and because of the early payments, the $110 original interest was cut in half to $55. Don't be a slave to the lender