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October 26, 2021
Elon Musk Blows Up on Joe Biden's Tax Scheme: When They're Done Taking His Money, They're Coming for OURS...
Democrats' favorite untruth is that all their plans will be paid for just by taxing millionaires and billionaires. Well, it used to be millionaires and billionaires. Then many Democrats became millionaires, so they only want to tax billionaires. Their latest scheme to pay for Joe Biden's list of socialist, soggy dreams is the "unrealized capital gains tax." When you cash out stocks, the money you made--the REALIZED gains--gets taxed. Democrats want to tax you before you realize those gains, then, I'm assuming, keep taxing you while you still unrealize them. Of course, they say this is just for billionaires.
Anyone who knows how to history or math doesn't believe that. One concerned citizen drafted a generic letter in opposition and tagged Elon Musk in the tweet.
For USA citizens opposed to the unrealized capital gains tax proposal by Senator @RonWyden , here is an example of a tactful and diplomatic letter template I made. You can use this or make/post your own. It's important to write your elected reps.
cc: @JeffBezos @elonmusk pic.twitter.com/6BUDptr1Qq
— Rick McCracken 🇪🇺🫖💋🤗 (@RichardMcCrackn) October 25, 2021
"Although the proposal targets billionaires and not myself, the government of elected representatives have a track record of scope creep when writing new taxes. I anticipate that any new unrealized capital gains taxes will slowly make their way down to middle-class retirement investments over the next several years. It will start with billionaires, then eventually millionaires, then the modest investments will get hit possibly within a decade."
I'm not a billionaire or a millionaire, and this would affect me. Not even in ten years. There would be a massive selloff before the tax went into effect that would cause all stocks to go down, including yours and mine. I'd rather that not happen. One, when PENN hits $300 Dave Portnoy promised me a yacht party. And two, as someone who is closer to retirement age than he is not closer, I'm counting on my investments.
Elon Musk, who is a billionaire, responded to the tweet and said the obvious thing Democrats would prefer never gets said out loud.
Exactly. Eventually, they run out of other people's money and then they come for you.
— Elon Musk (@elonmusk) October 26, 2021
"Exactly. Eventually, they run out of other people's money and then they come for you."
Case in point:
The original 1913 income tax was 1% for people with incomes above $3,000 (about $80,000 today) and 6% on $500,000 or more ($13 million). About 3% of the population was taxed. Just keep that in mind when Democrats lie and say the wealth tax will remain targeted at just the top.
— Ben Shapiro (@benshapiro) October 25, 2021
No one aside from other low-information Democrats believes Democrats when they say they will ONLY tax billionaires. Or that their plans won't cost commoners like you or me anything. They are all-in on repeating that same lie every chance they get. It's a pretty sizable lie, too. A big one, even.
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