21 thoughts on “News/Politics 8-29-24”

  1. Speaking of Harris and Trump on taxes, Harris will let current tax breaks expire, and Trump will keep them going. For that reason individuals will pay more taxes under Harris. I think some people are not aware of the out of pocket difference.

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  3. “The unrealized tax is only for ultra wealthy, no big deal.”

    Let’s play this out.

    25% unrealized gains on people worth 100MM.

    Bill Gates is worth 132 Billion. Assume his unrealized tax due is about 30 billion.

    He would need to sell 40 Billion in Microsoft shares, pay tax on that, just to pay the unrealized tax.

    That would probably tank MSFT 10%.

    7 million people own Microsoft stock.

    Now repeat with META, GOOG, NVDA, AAPL, TSLA etc..”

    https://x.com/dotkrueger/status/1828981466245808314?t=HOfDRPT1HT6z24fLTyV4zw&s=19

    There’s an old saying…..

    Crap rolls downhill. Same applies here

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  5. But…. muh democracy….

    https://x.com/catturd2/status/1828798194538733594?t=fSPl0fUqrTq9GeXt48mfVg&s=19

    “It’s time for every Republican Secretary of State to keep Joe Biden’s name on the ballot.

    There’s absolutely no difference than what Democrats are doing in Michigan and Wisconsin.”

    ——-

    https://x.com/TPostMillennial/status/1828784660320501837?t=kzmQBPfnrYqwsW8tqDoJQA&s=19

    “Michigan’s Dem sec of state keeps RFK Jr.’s name on ballot, while planning to keep Cornell West off”

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  7. It’s amazing what folks can discover when they stop listening to the lying media and actually look for themselves….

    https://x.com/TheThe1776/status/1828962489197048135?t=ViJZGGIzQtr4zuXZMDJ2gg&s=19

    “This woman came from having Trump Derangement Syndrome to Wanting Trump for President.

    She fell hook, line and sinker for MSM propaganda about President Trump. It wasn’t until she started using TikTok and seeing Trump unscripted and was astonished to find a whole different side of Trump and how he introduced RFK Jr. at his Arizona Rally.: “… He was a decent human being, even likable, definitely funny, maybe even hilarious. This is when I realized there was something to the media creating a narrative and pushing it on everybody…””

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  8. “I don’t think people have fully internalized what a dramatic about-face Kamala Harris just pulled. We were smeared for NINE YEARS that a border wall was racist, anti-American, xenophobic, and fascist. We were called nazis, bigots, and worse. For nine years! Then suddenly, 70 days out from the election, Kamala Harris decides she supports one and it’s crickets from the media.

    The gaslighting is truly remarkable.”

    https://x.com/charliekirk11/status/1828977454473740336?t=neKhsYh9h0uq3485yuSP7Q&s=19

    The media sucks. They’ve become nothing more than propagandists for the Democrats.

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  10. “Media/Democrats cannot allow anyone to ever have an unfiltered view of Trump.

    It’s why they refuse to show his rallies, lie about his transcripts, censored iconic post-assassination photos, doctor videos, melt down about his CNN town hall, and why they demand debate moderators be able to control his speech and interrupt him at will. Even after the debate that ended Joe Biden’s career, they immediately claimed Trump lost and Biden was sharp and focused and not at all dementia-addled.

    They want to entirely eliminate your ability to see or hear from him without an overlay of their deranged screeching. In this instance, the Biden-Harris regime (which won’t even acknowledge the existence of the families of the Abbey Gate 13) tried to ban Trump from even visiting Arlington Cemetery, despite him being invited by the families.

    When that failed, they did what they always do: they fabricated a vicious lie designed to invert reality because reality cannot be allowed if it makes Trump look human. They don’t want you to know that the families wanted Trump there, nor do they want you to be reminded that Biden and Harris got their loved ones killed and to this day refuse to talk to any of them.”

    https://x.com/seanmdav/status/1829182149377040744?t=wUBTUBJ-iOA6bblGqgaiAg&s=19

    Propagandists, not journalists.

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  11. This is what propagandists do, run cover for Dems, even if they have to lie to do so..

    https://x.com/greg_price11/status/1829171393176433102?t=Stj0TumivIQWlcOIrAV2Zw&s=19

    “Just so we’re clear: The media has decided that the biggest scandal of the last day is not that 13 Americans were killed in Afghanistan three years ago due to Biden and Kamala’s incompetence.

    It’s not that Biden was rude to the Gold Star families by checking his watch as their coffins came off the plane and by only wanting to talk to them about his own son who died of brain cancer.

    It’s not that Kamala Harris bragged about being the “last person in the room” making the decisions that led to their deaths, that she’s never once reached out to the Gold Star families, and that not a single person was fired for the disaster that occurred three years ago.

    It’s not that on the anniversary of their deaths, Joe Biden was at the beach and Kamala Harris was doing nothing.

    No. The media has decided that the biggest scandal is that Donald Trump showed up to Arlington Cemetery to honor 13 American heroes at the invitation of their families who gave him permission to take pictures of the event.”

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  15. But muh democracy…..

    https://x.com/DefiyantlyFree/status/1829181670534078586?t=6mYCFWQBuiKB88zVaUET9g&s=19

    “California banned voter ID laws.

    Michigan banned audits of election results.

    Democrats in Georgia are trying to remove Election Board Officials for requiring election officials to make sure the number of votes cast matches the number of voters that were given ballots.

    Ohio is investigating a leftist NGO that is sending them stacks of fraudulent voter registration forms.

    The federal government is registering inmates to vote even if it violates state law where they live.

    And the Democratic Party and their state run media are telling you that Republicans are trying to suppress votes-.

    I’m just wondering how delusional and stupid one is not to understand what is going on here.

    See the difference between them and us is that we don’t actually want Donald Trump to win unless he’s elected by the American people, but the Democrats don’t care how Kamala Harris wins because they are the biggest threat to democracy this country has ever seen.”

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  18. “Bill Gates is worth 132 Billion. Assume his unrealized tax due is about 30 billion.”

    That’s quite an assumption, where does it come from?

    The tax is not on net worth. Capital gains taxes the increase in your net worth. So say his worth goes from 132 billion to 145 billion in one year. Then he pays tax on the 13 billion increase, or about 5.7 billion. Not 30 billion.

    Just sayin’.

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  19. Kevin,

    Selling the stock to pay the unrealized gains would also trigger additional taxes, such as the 25 to 40% tax on the stock sell off. It’s triggered automatically, and in addition to her new taxes. There are addituonal issues as well. When you add this in as the economist above did, the number jumps to closer to what he wrote.

    I’ll take the economists, who knows the tax details and implications, word for it.

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  20. The author of that tweet is a Stanford PHD economist.

    Here’s more of what he has to say about her tax plan.

    https://x.com/dotkrueger/status/1828916893564248148?t=kVdsxJJ4PGRdJON-kxKr0g&s=19

    “How Kamala Tax Plan will impact the economy

    1. If a company makes 100 MM preTax, it now pays 21MM in tax, so it will make 79MM after tax. With the tax increase to 28% it will now make 72MM after tax.

    72/79 = 91%. So earnings will go down by 9%. At an even PE, this means stocks go down by at least 9%.

    Since this doesn’t affect Gold or Bitcoin (no earnings), they will appreciate more than stocks.

    2. If cap gains go to 44% from 20%, and a foreign investor makes 1.2x on a company, pre tax, they will now make 11.2% instead of 16%. This is 30% less.

    foreign investors will pull out of us stocks, this will force stocks down.

    3. If the tax on unrealized gains go through, the entire startup and VC industry is demolished.

    Bottom line:

    – stocks will crash

    – employment will fall

    – foreign investors will pull out of the US

    – the dollar will crater, causing inflation on imports.

    – the deficit will widen.”

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  21. “7 million people own Microsoft stock.

    Now repeat with META, GOOG, NVDA, AAPL, TSLA etc..”

    Perhaps 7 million people having a stake in supporting ultra big business (some of them virtual monopolies) is part of the problem . I don’t have big answers to these big problems, but a good first step might be to do whatever it takes to break these mammoths apart. We continue supporting ‘too big to fail’ companies who are often hostile to ordinary Americans and their interests.

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