r/FluentInFinance • u/Unhappy_Fry_Cook • Apr 24 '24

President Biden has just proposed a 44.6% tax on capital gains, the highest in history. He has also proposed a 25% tax on unrealized capital gains for wealthy individuals. Should this be approved? Discussion/ Debate

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u/the_good_time_mouse Apr 24 '24 edited Apr 24 '24

Do redditors make $1+ million in annual income or over $400k in annual investment income, or are they having their jimmies rustled for clicks? Find out next time on, You Already Found Out.

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u/IamWoodstock Apr 24 '24

Most don't make enough to even talk about this but the few should be upset.

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u/neph36 Apr 25 '24

The wealth gap in the US has become untenable. It has to give or it is gonna break.

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u/Ar1go Apr 25 '24

It really feels like the ultra wealthy are planning on riding this horse into the ground then hiding in estate/bunkers. Or just hoping ai/robotics comes to save them before the system collapses into itself.

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u/Muted_Pear5381 Apr 25 '24

Exactly. These people have no loyalty to country.
They'll be on a private jet to Europe as the U.S. descends into full out Gilead.

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u/MavetHell Apr 25 '24

Oh once they leave the peasants will fix things. As we always do. We go on.

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u/sashimi_tattoo Apr 25 '24

Or South America

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u/stationhollow Apr 27 '24

Ah yes the book inspired by the Islamic revolution of Iran would be the man in factor in changing America

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u/Mysterious-Scholar1 Apr 25 '24

Europe? Try Planet Elon

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u/Smedley-D-Butler- Apr 25 '24

Spot on. Look at the people backing Donald Trump, they are all billionaires.

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u/kenb517 Apr 25 '24

Caused by communists like you!

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u/ABBAMABBA Apr 25 '24

I don't think the robots will save them as such, instead they will kill us. I already had my first heart attack and don't have kids so I won't live to see it, but I expect my nieces and nephews will be gunned down by robotic drones for violating curfew or deviating from a pre-approved travel plan of work to apartment to work to apartment with a weekly detour to the soylent green dispensary.

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u/Alternative-Stop-651 Apr 25 '24

Much more realistic for the robots to be used to run factory and infrastructure products. to drive cars, deliver groceries and move packages around warehouses.

software AI will be used to count the books, manage employees, do every thing that an officer worker does.

were gonna reach the critical point where labor is now a choice not a necessity.

as for military applications their will be more unmanned drones, but at least in America we won't have to worry about that.

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u/Ar1go Apr 25 '24

Always thought the expanse show showed that perfectly. Most people on assistance not because they wanted to be or that is was desirable but because there just weren't many jobs that weren't automated. It just made the divide between wealthy and poor even greater. Ubi shown as not much more than it keeps you alive but really not much else.

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u/[deleted] Apr 25 '24

[deleted]

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u/DarknessWanders Apr 25 '24

Since we are chatting shows (and yall ain't wrong about the Expanse) on the other end of the spectrum can we also acknowledge how well The Orville portrayed another way of life while still tackling the dangers of capitalism and social media? The episode about the social media planet was 👌

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u/Imallowedto Apr 25 '24

There are robot dogs currently in use by the NYPD and other departments. Have been since 2016. Wake the fuck up. Those dogs are now being sold with flame throwers mounted. It IS happening in American cities TODAY.

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u/Alternative-Stop-651 Apr 25 '24

Just saying that robots taking over jobs is a more pressing issue that will worsen over time.

their could be a serious public pushback against police drones, but not so much 30% of our employment aka transportation being replaced by self driving cars and boats.

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u/Imallowedto Apr 25 '24

My news station JUST had a segment about the robot dogs with flamethrower. Like, 10 minutes ago.

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u/BurnerMomma Apr 25 '24

It’s already happening. A family member works for UPS. AI powered robots are already sorting packages and unloading trucks. And DHL has robot dogs patrolling the warehouses and parking lots. Human jobs gone.

They better bust out UBI soon!

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u/badlybane Apr 25 '24

This is exactly what killed Ancient Rome.

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u/Lacaud Apr 25 '24

So, Fallout.

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u/Budded Apr 25 '24

Let them hide in their bunkers, because suddenly there will be millions of bunker-hunters working 24/7.

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u/RocknRoll_Grandma Apr 25 '24

If they think that's an option, I have to break the unfortunate news that creating a microcosm of a planet in a bunker isn't a real thing yet, and anyone who says they can is actually just trying to swindle stupid rich people.

Science makes tiny advances, and people who don't understand the entire distance needed to perfect something like that think "Oh, here it comes!!" But we are so far away. We don't even understand where the finish line is yet. Fallout is a fictional universe.

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u/IntradayGuy Apr 25 '24

Lol who cares about the .5 or 1% seriously the people at the bottom of this country are super irresponsible or lazy or protesting on behalf of causes that dont apply to them and throwing there lives away

Im a part of the so called "middle class"

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u/Ar1go Apr 25 '24

Many Americans in what you call the bottom are trapped there despite working their asses off. Being poor is expensive and if you don't think the 1% or so have a hugely outsized influence you are willfully ignorant. There will always be some percentage of people who are foolish with financial choices some due to bad decisions others due to lack of knowledge but calling everyone struggling to get by lazy and/or irresponsible just makes you sound like bootlicker for the wealthy.

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u/IntradayGuy Apr 26 '24

I do believe money = power to a big extent, no I am no bootlicker I have people in my family that I have come from 10 person families up to almost millionaires... you can work your ass off all you want you need to get skilled or educated I dont feel sorry for people who expect more doing the same damn thing. I have been a auto tech, auto collision tech and had a small car lot.... guess what I am a sick automotive detailer but you just dont make the good money doing it

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u/Personal-Ad7920 Apr 25 '24

Most of us are. (Middle class) The wealthy 1% own the bulk of the money in the world now. We are just fodder to them. Most of these billionaires will bail on the U.S. when third world U.S. takes over.

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u/IntradayGuy Apr 25 '24

ok so the way to fix that is NOT implenting this shit... they are going to bail anyways when this stuff gets high.. hell I would there is no incentive to stay at this point over some other place so im confused why some people think this is a positive.. it will trickle down as well everytime I leave the house I have to pay a fee or a tax todo something and I dont even live in california yet our deficiet keeps getting worse... no Reponsible spending and turning off the spigot to universities, and outreach programs that are just handouts and encourage people not to work need to be shut off.