Janet Yellen wants to raise corporate and income taxes…

[Mick]

…but not wealth taxes.  Sorry, GR.  She also wants to increase the capital gains tax.  Also favors central bank supported digital currencies, an interesting idea.

https://www.msn.com/en-us/money/markets/yellen-favors-higher-company-tax-capital-gains-worth-a-look/ar-BB1dTUlF

https://finance.yahoo.com/news/yellen-signals-interest-backing-digital-164843289.html

• This topic was modified 5 years, 1 month ago by Mick.
• This topic was modified 5 years, 1 month ago by Mick.

[Legend]

Oh, taxes are going up. No doubt.

but not on the middle class. Never.

____________________________________________________________
Sic transit gloria mundi (so shut up and get back to work)

[rjnwmill]

Timing is everything now, isn’t it Mick?  Michael Burry of 2006-2008 fame around our last financial dislocation, took to Twitter over the weekend. He’s not a fan of Biden/Yellen economic theory.

"Prices in Germany were steady, and both business and the stock market were booming. The exchange rate of the mark against the dollar and other currencies actually rose for
a time, and the mark was momentarily the strongest currency in the world" on inflation's eve.

— Cassandra (@michaeljburry) February 20, 2021

Here's a toast with one last pour, may it last forever and a minute more;
Good fortune seems to you have sung, to live and love way past long

[rjnwmill]

Here is the Burry link to a theory piece that analyzes historical inflation “pandemics”.

 

Here's a toast with one last pour, may it last forever and a minute more;
Good fortune seems to you have sung, to live and love way past long

[Beeg_Dawg]

I caught a little bit of Burry on the radio during my 10 minute commute.  (Brutal traffic tonight.. )

He added that wealth was made on speculation, not savvy investing.  The little guy never had enough to invest, and the wealthy just got wealthier.

Does that strike a chord……

 

[gpn38]

Biden”s tax plan would increase corporate taxes to 28%. Personal income taxes to 39.6%, and he would tax capital gains ( long and short) and dividends at the marginal tax rate for anyone making over $400,000. That is why the clusterfuck in Georgia was painful. They can do this through reconciliation.

[Beeg_Dawg]

My tax plan – based on my old school believe taxes are for funding government operations, not social engineering. –

Tax all income the same. That is, don’t make a distinction about where the money comes from.  Wages, tips, investments, inheritance- everything.  I would exempt all income from Federal tax below $40k.  Assets like family farms or small businesses would be exempt from the tax calculation.  My thinking is to not force the family into a quick sale (or any sale if they wish to keep the farm or business). Proceeds from the sale would be taxable income when they sell.

Way to simple……

 

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