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But the middle class usually sides with the ultra wealthy and not the poor. Why? Because the middle class can’t see the money being taken from them by the ultra wealthy. But the middle class can easily see the money being taken from them by the poor, by looking at their tax bill.
The states with the largest middle classes(cost of living adjusted) are universally red states. Utah, Iowa, New Hampshire, North Dakota, Florida, Texas, Idaho, Nebraska. The states who went from red to blue, Connecticut, California, New Jersey all lost their middle classes. Taxes are the ultimate middle class killer.
Form what I understood tax deferred plans like 401K would be tax deferred, and not be taxed when you contribute money to them, but like I said that would be taxed when you pull money out.
Qualifying tax deferred contributions reduce one's taxable income. It has nothing to do with the maintenance and transaction fees (including taxes and other overhead expenses incurred by the plan's/account's investment manager/administrator) paid by the investors.
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Like I said these kinds of proposals are DOA, since they fail in Congress. Unfortunately other kinds of tax hikes like 25% Trump tariffs (which you support), are not reviewed by Congress, and hence to into effect immediately.
Yes, it will fail. But that doesn't change the fact that Bernie is counting on people (especially his supporters) being too stupid to realize that he wants to tax them all on their retirement pensions/accounts at least twice on the same investments to pay for it. If tariffs bother you, don't buy affected imported goods. That's a choice you're completely free to make on your own.
Bernie, claims wall street has to pay for student loans, but wants to pay that through a tax on Wall Street which results on every 401K being taxed!
Bernie needs to go back to a real school for a 101 in accounting!
Aside from that, who9 will be motivated to study in College as having fun and getting 4 years of the best time of your life, results in the same result...no study loan and zero motivation to study!
When you give a free phone, free car, etc. to young people, they are less careful with the item then when they pay for the same items, themselves!
That was 30 years ago, the case and still is the case.
It is repulsive to listen to the left wing non sense to basically tax us up our eye balls for free stuff for Antifa and other people who are too lazy to do anything.
Do you know for a fact that 401ks would be taxed?
Even where I live, deep south TN, has seen the advantage of education. You can now get a two year degree here at no charge.
The states with the largest middle classes(cost of living adjusted) are universally red states. Utah, Iowa, New Hampshire, North Dakota, Florida, Texas, Idaho, Nebraska. The states who went from red to blue, Connecticut, California, New Jersey all lost their middle classes. Taxes are the ultimate middle class killer.
Correct, because the upper classes aren’t paying their fair share in those states. So the burden falls on the middle classes.
Location: New Albany, Indiana (Greater Louisville)
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I used to strongly support Democrats social welfare plans but the things they propose are pie in the sky and totally unaffordable. If Bernie won I think a recession would immediately begin.
Yes. Any account that has equities/bonds and other investments (and that includes pensions and 401K/IRA/etc. retirement accounts) will pay the transaction tax at least twice on the same investments. Once when the investments are purchased, and then again when the investments are sold to change the structure of the investment portfolio's ratio or to generate the cash needed for scheduled pension payouts and other retirement withdrawals.
Yes. Any account that has equities/bonds and other investments (and that includes pensions and 401K/IRA/etc. retirement accounts) will pay the transaction tax at least twice on the same investments. Once when the investments are purchased, and then again when the investments are sold to change the structure of the investment portfolio's ratio or to generate the cash needed for scheduled pension payouts and other retirement withdrawals.
This is exactly how I’d come to understand his tax as well.
Even where I live, deep south TN, has seen the advantage of education. You can now get a two year degree here at no charge.
Absolutely as Bernie wants to tax Wallstreet through every transaction made. Which includes any and all transactions made by investments of 401K, IRA's, etc.
So Bernie's "stupid" kindergarten level accounting/finance knowledge, doesn't include accounting/finance 101!
Therefore the tax to pay for this is transferred to middle class, lower income, etc.
There is not such free stuff as these dumb Dems try to sell to Dummies!
Most people are too smart to fall for this transfer by tax payments and increasing tax after tax.
My best "decision" was to move here as I was part of the dummies, as all socialist countries, make it sound like your part of Western society and not a socialist country.
Hardly anyone in Western societies, have any clue. You don't get pay checks as all taxes are already deducted and income is automatically deposited into your account. That's why as an employee, I thought my health care was free, until I became an employer over there.
Our eyes opened further by moving here and that happened over time as at first your more of a tourist and everything is great. Now things are still great, but only foreigners who work here year round, pay taxes, and live the American life, will understand the difference. Every tourist or recent new immigrant will make statements based on their new life and believe that's how it is and that they know it all...
But the middle class usually sides with the ultra wealthy and not the poor. Why? Because the middle class can’t see the money being taken from them by the ultra wealthy. But the middle class can easily see the money being taken from them by the poor, by looking at their tax bill.
Nope. The reason is simple. The middle class sides with policies that give them the best opportunity to actually become wealthy, which typically means conservative ones. Liberal policies simply mean that everyone (outside of government work anyway) is universally poor.
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