My Thoughts On Paying Higher Taxes (Joe Biden Response)
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- Опубліковано 8 чер 2024
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THE NEWEST TAX PROPOSAL:
00:00 - Paying Higher Taxes
01:52 - 44.6% Capital Gains Tax
03:54 - Total 59% Capital Gains Tax
04:57 - 39.6% Top Federal Income Tax
06:21 - Creating Videos with InVideo AI
08:02 - The 25% Wealth Tax
11:40 - Removing Unlimited 1031 Exchange
15:35 - Tax Stock Buybacks (Lower Stock Prices?)
17:12 - Higher Corporate Taxes (Lower Wages?)
19:05 - My Thoughts On Paying Higher Taxes
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neat
It's not about higher taxes. It's about taxing proper things. A good start would be a wealth tax on all assets owned at the end of the year at their current value whether you sell the asset or hold the asset. Do that, and the price of assets would drop. This would let more average working people afford things like houses for example. This would also reduce the need to go into major debt to own things as an individual. And it would help with the overall debt of the country.
I hope everyone else is enjoying the government taking our money and sending it over seas!
Rich guy that made his fortune as a price arbitration middle man for other people's housing is upset he is expected to pay his fair share into society. Truly incredible times we live in.
The sources are obscure, dubious at best. So the Wall Street Journal isn't reporting on any of this shocking news? Bloomberg is on the list, but it's just bond yields and the Fed Rate. Nothing at all to do with the crux of what Graham Stephan is trying to put over. This is like putting a stock photo of Warren Buffett above your article on the best snake oil investments. It's a fake display of integrity. the fact that Graham pulled this stunt should make you suspicious.
This election year you have to be extra cautious. The Russian FSB is working really hard to sucker Americans into not voting or voting for Trump (who already said he doesn't support Ukraine or NATO.) It's a lot cheaper and easier for Russia to undermine our elections than it is to win the war they started. I don't think Graham is part of this, but that's why the Russians call them poleznyy idioty (useful idiots.) He's clearly trying to drum up support for Trump and the Republicans.
Being a US tax payer is like being in a relationship with an unattractive gold digger.
LOL, perfect line.
Always nice to have two of those in your life
If you're not buying Byte, youre missing out on the next Shiba Inu. Ask Grok about Elon's AI dog and you will realize why.
Compared to almost every other country…it’s just a gold digger…
I’m left speechless
The government will always ask for more water to fill the bucket rather than trying fix the hole in it.
You are correct there.
Perfect analogy.
Not only does the bucket have holes in it but they keep drilling more holes; while complaining there is never enough water in the bucket. But at least the politicians get to line their pockets and become rich. Aint corruption great.
Absolutely. Wreckless spending.
They PUT the hole in the bucket.
The government taxing unrealized gains is the equivalent of me claiming my sperm as dependents
😂😂😂
😂😂😂
So if the govt can tax unrealized gains, can I write off unrealized losses?
Fn golden 😂
Haha nice!
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What do you think sets AMS89H apart from other projects? It seems to be dominating discussions lately
This is good project from Amazon
Much better than all those shits altcoin with no utilities
thanks for sharing, I just bought it
very promising
Full transparency on where our tax money goes is by far the best thing for the US citizens
War.... that's where it goes
not gonna happen, the DOD has failed several times to show where our trillions of dollars goes. But hey, at least they are trying imma right?
@@MaxwellsAxiomNo…it goes to social security, Medicare and Medicaid. Then defense and INTEREST on US debt are about 10% each. War isn’t even close.
@RaymondTusk74 you tell me who's living better retirees soley on SS, people on Medicare, or defense contractors?
@@MaxwellsAxiomIn your mind, is that an intelligent and relevant response? You claimed the majority, perhaps just the bulk of the budget is defense spending. It’s not. It’s around 10%. The post suggest the rich aren’t taxed. They are. They pay BASICALLY ALL OF THE TAXES. So respond with knowledge, not childish questions.
And we fought a war over a 2% tax....
Actually we defined our independence but now the imperialist Britain is in bed with Israel as is Canada and of course big Israel….amerika
Actually the elites got.held back by the King to not go past the Mississippi. That's why the Revolutionary War started. Lay off the kool-aid
Yeah, just a 2% tax. Nothing else you're forgetting to mention here...
@@VoodooPanda1doesn’t change the fact that Americans in this day and age are pushovers. Taxation without representation and legalized bribery in the form of lobbying what you think the founders would have done in this day and age?
The tax wasn't the issue, it was the not having any representation among the legislative body levying that tax.
Please tell us your thoughts on UA-cam scams.
20+ year Tax Attorney here . . . very well done! Great analysis and explanation of a very complex area of law.
The unrealized gains tax proposal is what I find most insane about this bill. You can't tax a sale that hasn't happened yet!
They've tried this before, isn't going anywhere
@@GrahamStephan Its not meant to go anywhere either. Just pre-election populism
It's a way to force the ultra wealthy to do something with their money other than park it in assets. As I understand it is only over portfolio sizes exceeding 100MM dollars. Obviously not affecting your normal person. People with that net worth are causing a massive imbalance in the world and they need to be changed.
Property tax is similar, for better or for worse
Maybe limit it to taxing money borrowed against gains on publicly traded stock.
Government be like “reduce spending?!, nah, we’ll just raise taxes and keep spending.”
buying votes with other people's money
My thoughts exactly.
*Prints TRILLIONS*
*Sends billions to foreign countries*
"Inflation is high? Lawl, too bad, pay more taxes!"
They print money. No need to tax more. They literally just want us all to be broke/slaves to the system
@@JeikuAnimeReview What should they cut?
GIVE ME MY MONEY BACK STEPHAN!!!!!!
This has nothing to do with raising revenue and improving the economy, this is just about punishing people who have more.
No its about kicking out the ladder from any one trying to rise their socioeconomic status.
It’s about improving the middle class
@@connerswigart5397 Taxing the rich more will do nothing to improve the middle class.
@@RLSteve of course it will can you explain why it wouldn’t? Look at the 1940-1960s(highest wealth tax) there was massive public investment, income inequality shrunk, companies were more incentivized to invest back into the system, and there was a strengthening of the middle class
@@connerswigart5397 More money alone doesn’t solve the problem. It’s about regulations. Example, why is there a shortage of housing? Because foreign investors are buying up all the properties. Why is healthcare so expensive? Because of administrative bloat. The middle class may be shrinking, but the upper class has been growing bigger. We have a bigger upper class than we used to.
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tax on UNREALIZED gains for average investors is an INSANE Money Grab . Its not like the Gov is efficient at using using taxes .
How much money do you think average investors get from capital gains every year? Lmfao
Only applies if your net worth is over $100 million. Plus any payments are credited against the final tax bill. Still, it screws things up royally without really addressing the fundamental issue.
Best bet was always tax reform by reducing its complexity and closing loopholes, not adding in more to complicate everything further.
@@AlexanderTheGoodEnough In the beginning of income tax. That's how they sold it. Said only for the rich. Then used salami slice tactics to tax everyone
@@AlexanderTheGoodEnough Credited? And what happens if you sell for loss? Do you really think they will return your "credited" money immediately? Or it will be a slow painful boiling process?
This won't even effect the creator of this video. You need a portfolio worth over $100 million for it to happen to you. That's still an easy life and not worth shedding any tears over.
You don’t pick sides because you don’t want to get canceled LMFAO
it don't matter, this administration needs to go.
@@siphonicdanox And what do you think the other side will do? trump increased spending every single year he was in office from obamas spending. He pushed the fed to keep rates low, even suggested negative rates, passed a horrible tax plan. What in his last admin makes you think he will fix anything? What will he do to fix anything? Please, be specific on his plan.
I just want to say thank you for the work that you do. This is extremely beneficial. This is what people need to know, need to understand, need to be aware of. Lastly, always go with your gut, this is one of your best content!
Primary residences should be exempt from capital gains taxes
I never even thought about that. I 100% agree. Especially if you lived in the home for a long while. Maintaining it, and paying property taxes along the way. Thanks for your insight. Very good idea.
They are for over 400k
@@spyichooseyou 250k for single filers, 500k for mfj.
They are and in Canada they are too. I don't feel bad about the wealthy being taxed more.
They shouldn't be taxed at all. Even so, they should only be assesed at their last sale value, not appraised values. This is why so many people, especially elderly, end up losing their homes.
I was always tought no country has ever lasted over a 30% tax rate .
America has for over 100 years has had a tax rate over 30%
Sweden tax their rich 35 percent.
This is the most ridiculous, insane claim I ever heard anyone make. WTF???
Definitely want more videos like this. You keep us well informed.
In Germany we pay so much taxes that it drives me crazy. You earn 100$ : 20% of VAT, then 50% of that for income tax, then you have to pay like 15% trade tax, plus special payments like the IHK, and even when you make money with your taxed money they have taxes for that to. I will be so happy when I leave Germany. Can’t stand this any more
That's nuts 🤯 with that said, I love visiting 🇩🇪 , you have a beautiful country.
Don’t forget that when you finally get to put your hard-earned coins on your bank account and buy something you will also pay "hidden" taxes that is essentially an increase in price from the vendor to pay taxes from
The taxes and living expenses are so high that I got paid an additional 30% just to break even with what I’d make in the US. All my neighbors thought I was rich because I rented an average apartment as a 25 year old and had a car too. By their standards, I was rich.
That’s exactly what the globalist shits are trying to make the us into. I pretty much agree with how the Argentinean president says it.
sure, but you have 'free' healthcare...lol!
No reason the government should make more than the person who made those capital gains. What is the point of investing or working if you give that money way to the government.
Yeah the Government takes zero risk of the investment but gets the benefit of the gains? Sounds like robbery to me.
Yep, strips all motivation when the government has their grubby hands over half what you make. Why bother anymore.
The federal government doesn’t “make money” from taxes. It makes money by printing it and spending it. It takes the money back when it taxes.
The federal government is, in a very real way, a big part of reason why the stock market is so huge right now in the first place. Thank the Fed’s policy of 10+ years of 0% interest and massive stock purchases for juicing up your portfolio.
@@stevo-dx5rr The Fed isn't actually a part of the federal government. It's a separate entity much like the IMF and the World Bank.
Don't put investing and working in the same sentence. Investing requires no effort.
Honestly this is the first video of yours I have clicked on in over a year or so so I’m here for this type of content.
We need to cut the government by 50% or more, and cut the budget by 75%
Only if the government focused on reducing costs of operation and had fiscal discipline instead of finding ways to take it from the common person to fund their reckless spending.
This is a key point that never receives the proper amount of attention unfortunately
The problem is, the government has no incentive to reduce operation costs because its not their money that they're spending, its ours. If the financial stability of the government was directly tied to THEIR income, we'd quickly see a change in behavior. as far as im concerned, there should be an amendment that states that if the government over spends in a given year, that extra money is taken from government employee salaries starting with congress.
Exactly the US government needs to go on the Dave Ramsey plan or something because the government is horrible with our money!
Well it’s not like this will change who you’re voting for anyway so why would they? when they know for a fact there’s no consequences for their actions?
they take it mostly from the wealthy and super wealthy and the common man pays very little of the tax burden. rates don't matter , it's actual dollars paid and the top 10% pay most of the dollars
If I'm paying over 50% taxes (this is already way too much) I don't care where I'm living I'm moving
DING DING DING this!!!!
It depends. If you own a popular restaurant in a great location then moving would also take you from your source of profits.
The taxes used to be over 90% for high earners and they just found a way to increase expenses and / or interest costs so that their earnings would be much lower. Paying back debt, increasing wages, taking advantage of a discount on a needed merchandise and purchasing more than needed early on.. Amazon hasn't paid taxes in years because they put all of their money back in the business, found R&D etc.
If you’re in Zionist America best of luck.
@@HepCatJackno, the highest bracket was that high. No one has ever spent 90% of their income on taxes. It’s only the upper part of their income. That’s how marginal taxes work
@@HepCatJackyeah its all about tax deductibles.
Great segment. Keep videos like this coming. Getting the truth out there is so very important
Probably one of the best videos I’ve seen on the channel! Thank you Sr.
Tax increase is pointless. It’s never enough.
Spending just consistently outpaces revenues
It's not pointless when you realize the goal is simply to impoverish the populace. We're not dealing with a desperate robber who'se just trying to feed his family, we're dealing with Ted Bundy.
If it were up to some in government they'd be taxing us at 95 percent of our income. The money the get will never be enough
Government needs to stop funding bs
Yep… are government will never pay back our debt.
I think what bothers me most about the media surrounding taxes and all the political figures that advocate for changing the tax code is that any sort of rule that allows for lower taxes in certain circumstances or provides some kind of tax advantage is ALWAYS deemed a "loophole". The word loophole implies that those that take advantage of any available tax benefits are circumnavigating the law in some way to get an unfair advantage. These "loopholes" are literally written in the tax code and their sole purpose is to lower taxes 🤦♂️
They’re also written in the tax code so that multimillion dollar politicians can take advantage of those loopholes!
What’s the ‘loophole’ that people make 35k, 50k, 75k, 100k a year are not taking ‘advantage’ of then?
What’s the secret those people are missing?
@@nachoisme People in that income range can buy an EV to take advantage of green energy "loopholes" for example. Spend money on EVs vs equal priced gas vehicle would result in lower overall tax therefore lower rate.
@@gorkyd7912It’s funny you think someone making 35 or 50k can afford a Tesla to get that tax break. Even a person earning a 100k could be tight depending on other circumstances.
…and that’s my point though…in order to get tax ‘breaks’ you need to earn money and generally the more you earn the more you can take ‘advantage’ of the breaks.
@@nachoisme The EIC comes to mind. Or the standard deduction, which at $35k is most of your taxes. There's also itemizing deductions which may or may not help, depending on your situation. You can claim dependents to lower your taxes, too. File jointly. Get some livestock to get an ag exemption. Invest in a retirement account. The "loopholes" are exactly like those--the gov't decided to incentivize certain behavior like having kids, buying a home, getting married, farming, buying EVs or solar panels, etc. Also, for good or bad, I know a lot of people making under $100k with expensive cars, so I don't know why you're acting like the idea of getting an EV is preposterous.
I don't really comment on video but I just wanted to Thank you for talking about this and putting so much research into this!
i feel like they're trying to punish billionaires but don't realize how unfair this is to ordinary people.
Inflation is insane. I'm working more overtime than I've ever worked trying to save for a house. My dollars earned are worth less than ever before because of inflation. And now they want to raise taxes on me on top of it. No thanks.
Imagine if these companies that have SO MUCH EXTRA profit were to…idk…hear me out…give their WORKERS raises instead of buying back their shares or continually pay out bigger and bigger dividends? It’s odd that Graham didn’t mention “giving workers a pay raise” as one of the options corporations had. He deliberately omitted it. It’s hard for someone like you or me to feel bad for someone who is going to have to START paying the same tax rate WE’VE been paying forever lol
Unless you’re making over $400k a year, this doesn’t affect you.
@@nobordersfilmwrong.
@@chaddwickg5276do go on, enlighten us..
@@nobordersfilm 5:13. The brackets on the left are the brackets that would go back into effect if they eliminate the Tax Cuts and Jobs Act. The only tax bracket that didn’t go up is the 10% tax bracket. Every other bracket goes up. Either you didn’t watch the full video, or struggle with comprehension…if @belisarius is working overtime, they are not in the 10% income tax bracket by definition. It’s not exactly rocket science
Is it fair or is it punishing people for making money?
The problem with a 1031 exchange: Suppose you have a paid-for residence and a paid-for smaller house you've been using as a rental unit. You get older and think it would be expedient to sell your main house and downsize to your smaller house. The tax code penalizes you heavily for doing so; you may not be able to afford to go to the other house you already picked out and paid for.
Why couldn’t you sell your primary, take the $500K MFJ exclusion (or $250K exclusion if filing single), then move into the rental in that scenario? Your capital gains tax would at least be significantly mitigated that way. You’d probably be able to purchase another rental property with the net proceeds too if you want to continue generating rental income in retirement.
@@GrantBuehrer-oo3yz what is an MFJ exclusion?
@@loisavci3382 MFJ is short for “married filing jointly.” The first $500K of capital gains on the sale of a primary residence are excluded for married taxpayers filing jointly ($250K exclusion for single taxpayers). For example if you bought your primary home for $200K and sell at after it’s appreciated to $600K, your $400K gain would be nontaxable since the gain would be less than your $500K exclusion provided that you’re file jointly with your spouse. In other words, the 1031 exchange isn’t necessary for most taxpayers when it comes to selling their primary home since the statutory exclusion makes the sale effectively nontaxable in most cases. As a quick disclaimer, though, the same example I used above would result in a $150K taxable gain for a single taxpayer.
@@GrantBuehrer-oo3yz If you sell your primary residence, you pay taxes on the full appreciation (minus the cost of improvements you made to the property). The exception is that you can exempt any portion of that appreciation that you spend on buying another residence. If you already fully own your rental property and move there you lose that tax exemption.
Don’t worry, just invest more into Yotta
Very big bugs are happening today!!!
It is exchanging for almost 9x...
I just showed in a viddd
I really appreciate the fair assessment of all the proposed changes
Business owners will have to raise their prices and landlords will have to raise rent
With the feds being this hard, I can see why cartels exist. They don't have to pay taxes.
Yessir
There’s always a tax in life, my friend.
And churches. Lots of churches.
Blood taxes...
Cartels do pay taxes. That's why they launder money.
It reminds me of trying to exercise your way out of a bad diet. It's easier to not eat a candy bar than it is to burn 300 calories on the treadmill. I wish government spending was perceived the same way. I totally agree with you that it's those of us who are W2 employees (especially higher income earners) who end up paying the highest taxes because people who are making their income through investments have the flexibility, time, and know how to avoid taxes.
The human body is so efficient with movement, that exercise is a waste of time if it’s for purely weight loss. I’ve had to explain this to so many people over the years who think that they’ll walk for 20 minutes a day and then automatically be in a 500 calorie deficit
@@itskelvinn It's incredible, right? And studies have shown that we when we burn a few extra calories, we often end up eating enough extra food to offset what we've burned.
Very well said! The government is acting just like the person pigging out at a buffet saying we’ll burn it off when we start at the gym Monday!😅
The problem is that a lot of government spending goes into things that circulate directly into the economy. We have a huge social society and Medicare bill, but if we cut that spending, we not only screw over people who worked for it, we cut the money they put into the economy.
The issue is we cant reduce spending. The past borrowed so much from the future that it fucked us over. Also lets not mention all the states with low taxes but then expect the federal government to subsidize them.
This was one of your best and most informative video's yet! I loved it.
Great video man! This stuff needs to be said! Awesome job.
Graham really told the government to start a budget 😭😭 23:05
They do. It’s gotten far to big and unsustainable
Stephan/Ramsey 2028!
Rice and beans congress. 24:45
From telling us to start one to telling the govt 😂 he’s back to his roots!
The honesty at the end of the video regarding the exhaustive research is heartfelt. Looks like a lot of preparation (and reading/digesting) went into this one. This video summary is much appreciated!
Can you give an update on your experience with Yotta? Today they pretty much announced they aren't a bank anymore.
"Imagine being forced to sell shares to pay taxes on something you don't intend on selling anyways." Many of us don't have to imagine, we already have to do this because we earn our stocks through working for employers and those stocks are taxed as income.
Or we work 30 years to pay off our house and then have to sell it and be homeless because the local government taxes property based on market value which went up.
I've never worked for a company that gave stocks as a bonus, but aren't your withholdings taking bonuses into account?
@@crusherven they literally force sell your stock to cover the taxes. I also wouldnt consider it a bonus since it accounts for half of most software engineers’ income. My point is, people who work for a living get screwed by our current tax system while people who sit on their investments get preferential treatment for no good reason at all. There is a reason wealthy people are trying to convince the masses that this is a bad idea and that reason isn’t exactly altruist… it is pure greed.
Sitting on your investments adds zero value to society and makes the rich richer and the poor poorer. It should not be rewarded by policy.
@@nothing12392 If it accounts for half of your income and it's taxed at the lower (20% max) rate, isn't that a good thing? Besides, keeping money invested *is* good for society. If people keep on selling, the value of the stock falls and the company is unable to expand, or may even have to lay employees off.
@@crusherven you aren’t understanding what I am saying. My stocks are force sold to pay my tax rate on earned income which is the top bracket. I make a lot of money, I’m not poor, but I believe people who are wealthy should pay the same as people who work for their money.
Government should reduce headcount by 50% and go from there.
Wouldn't even be a drop in the bucket. The real waste is in our "defense" spending. We the people get raked over the coals by defense contractors
@@jess_o to the tune of being more expensive than the next oh I don't know 65% of the damn planet combined.
@@jess_o Interest on the debt is now the second highest expense in the budget at 1.2T. Only social security is more at 1.4T.
@@jess_o Social services is more. Heck, debt interest is more too. Although I'm in the "cut spending everywhere" category. I don't care what it is, cut it.
Yes yes… but they are hiring more especially more IRS agents so they can get more money from us!
Im in the bottom of the middle class and im for less taxes for EVERYONE. Our politicians have a spending problem. We cant fix that by giving them more. We fix it by giving them less and also letting them borrow less from our future. They've spent so much in the last few years it makes my head spin!
No party is for you. Its all about loopholes
Most of government spending goes to chicks, directly or through all the chick groups, so they will never let you reduce spending.
@@mateograndpa1760 "no party is for you".. even though most Americans would agree with you.
@@mateograndpa1760 Did you read the new tax proposals it closes all the loopholes.
59% tax is better than you giving fraudulent advice to your bank Yotta and FTX keep it going people losing millions
lol was looking for this comment. he has always been kinda scummy
Outstanding analysis… Thanks for breaking it down
Give us the AMS66P! I need maximum gainage! For extreme bustism!
Smells fishy, really fishy
I pooped today
Dump it.
Once again, this will unfortunately end up hurting small business owners disproportionately. The $1 million threshold is just way too low.
Mom and Pop with a $3-5 million business do not have access to the same financing/LOC arrangements as someone with a $30-50 million business, let alone someone with $80-100 million in publicly held stocks. Banks are less likely to loan money against the value of the small business, so they are forced to sell and pay a ridiculously high tax rate if they want to retire.
Meanwhile, the wealthier folks can "wait it out" by taking on lines of credit against their pledged assets until capital gains rates come down again.
Business owners are going to leave the nation. This will destroy the poor the most.
That's exactly the point. This is going to corporatize this country to where only extremely large companies will survive. Competition? Lol what's that
Very well said!
@@JamesWillis-yy5px leaving the nation isn't hurting business owners tf? Those small business owners wouldn't even be able to leave because the government raped them of their money to send overseas in the first place
the ultra wealthy will never be taxed, its always the middle to upper class.
Historically, Dividends have always been taxed at a lower rate, because the company paying a dividend is using post-tax money to pay them out (government already got the corporate income tax paid, so what started as $100 profit is now $79, which you get to pay 15-20% more, making it 63.20 to 67.15). I'd always assumed that the lower tax on capital gains was due to a similar reason - preventing some sort of double taxing, or just to encourage investment.
Correct, it’s funny how high people want taxes until it’s them having to pay them. Just look at the politicians, 2020 democrat primaries was a perfect example. Every single one of them wanted the new wealth tax to start at there own worth rounded up, so if they were worth 75 million they wanted it to start at 100 million, if 20 mil they wanted it to start and 50 million and such. Not that it’s not a issue everywhere, I just remember watching those primaries and it going down the list of where they all wanted it to start so I then looked up there net worths and it didn’t take long to notice a patter, simply put it’s a great example as they all made the statements on stage within minutes of each other and all of them agreed on basically everything including that none of them wanted to actually have to pay it themselves.
Great topic on this one, sent the link to the folks to help their understanding
*YT Quick Survey:* For your shared investing ideas, what do you think will be the next Apple/Microsoft in terms of growth?
I think there's a lot of factors that are not pushing towards explosive growth in the same way that 1980s 1990s computer tech software is doing. There's definitely full capitalization on implementation of technologies however I just don't see the asset class itself going as exponential as it once was. That said my personal bet is not against software as in like Adobe or Oracle but more towards hardware manufacturing Nvidia tmsc that the people that actually make the chips. I think that there's a healthy fundamentals of the people that make the the chips are devices run off
Some sort of fringe science technology something to do with graphene.
Thanks for the awesome info. Doesn’t go unnoticed how much work you put into this video.
I appreciate that!
Surprisingly, I really enjoyed this video. The research and explanation were more than sufficient for me as a Luddite to follow along great work.
Keep this up! It’s info we need to know
Regarding the house example. We do pay increased property taxes based on the increase in value of the house. I haven't sold the house and realized the appreciation, but I am already paying more taxes every year because of the appreciation.
Property tax is levied by local government, bro.
And in any case that shouldn't be a thing either imo. Value is just interpreted. One mans junk is another mans treasure. Seems pretty stupid to me.
@@hanglu1335 was the argument you can't tax unrealized gains? Because if so, a lot of people should sue the local governments for repayment if you can't.
The issue is houses go up faster then inflation and faster then your wage increases. So it's not right to pay more property taxes each year if your wages don't increase by just as much. That's by effect a higher % tax rate to your income.
Thank you so much for including AMS66P the last time.
Smells fishy, really fishy
Thanks for showing the guts to make this video. Kudos to you. This video earned my subscription.
This is the best take I've heard regarding this situation. Well done!
As a CPA I will tell you now that unrealized gains will never be taxed
Why not? It's a huge loophole. Most everyone knows their unrealized gain amounts. I'm an accountant. I never had the time or need to take the CPA test.
Many years ago the tax collector visited homesteads and tax was levied according to the value. My grandpa was a tax collector back then (aka government man). I wouldn’t put a move like this off the table just yet.
It shouldn't be in a sane world but never underestimate how stupid the government can be
@@larryjones9773 How is it a loophole? That makes zero sense. If you are still holding a stock you are exposing yourself to RISK. I think the problem is that everyone on the left is bitter that other people are willing to take more risk than them. If Bezos never sells stock, yea, he's not going to pay taxes, BUT he's also taking the risk he'll lose 50% of his entire wealth in a recession/depression or if something were to happen to the company. Democrat politicians seem hellbent on taking money via taxes vs. letting recessions tighten the wealth gap...we always have a massive spending spree vs. an asset price reset WHICH IS GOOD FOR THE MIDDLE CLASS. Same thing happened with Elon...he could have sold all his stock at 3xx share price...now it's below 180...he lost a ton of money this year. You can't punish people for being ok with risk...that destroys the incentive to take risk over time lmao and then we will turn into Europe (really crappy economy) but we won't even have their great food, buildings, etc.
Property tax is unrealized gains
Be careful Graham, suggesting a full audit of the government might get you the same treatment of a Boeing whistleblower 😂😢
Deficit spending isn't "excessive". It's fine.
Great information, learned a lot from this video 👍🏼
If you don’t have capital gains you think the tax is to low. But once i started investing it pissed me off that the government gets a percentage when they took no risk. Not to mention invested with money (my salary) that was already taxed by the government.
You only get taxed if your investment produces capital gains. You get a tax deduction if you have a capital loss. And, the capital gains tax rate is a preferred rate (0% on the first $47,025 for 2024). If your investments are in a retirement tax deferred account, you don't pay taxes on your contributions, until withdrawn during retirement. Plus, you don't pay taxes on any gains, until withdrawn during retirement.
If you want to never pay taxes on your investments, invest in a Roth IRA. You will, however, have to pay taxes now, on your contributions to a Roth IRA.
Ignorant and angry.
@@larryjones9773 Did you watch the video? They want to change that so you're taxed on 'wealth' not 'income' or 'profit' meaning you will have to pay tax on all investments BEFORE you sell them and actually make any money. This will prevent lower income investors from actually being able to invest.
Once against screwing over the little guys while claiming to go after the rich.
@@LizThomas-dp7sr Biden's plan to tax unrecognized capital gains will only impact about 1,000 Americans (those with over $100,000,000 of investments). Relax, you aren't impacted.
Every time you drop a video it’s a gem!!
Thank you!
Thanks for sharing Graham
This was great. This is exactly the type of content i want to see.
AMS66P for me.... Great to see it going up.
Smells fishy, really fishy
lol
I love the laid back approach to your videos, they are so much more enjoyable to listen to
Very excellent and accurate Info.
Thank you for this.
Thanks for breaking all of this down in a way that makes sense 🙌🏻
This is actually helpful. Continue with these videos
I've been waiting for Tax increases Video! Yesss😂😂😂😊
FJB
They have been printing trillions upon trillions of dollars and people think that there is no consequences to that? Now youre seeing how they will be paying for that insurmountable debt.
I’ve watched other videos on this, but they don’t quite break it out like you do. Thanks Graham!
I agreed with the sentiment that the government should seek to spend money on things that are quote "useful." The issue is that what I find useful may not be what you find useful.
For example, I think an educated citizenship is useful so I strongly support public funding for education, including paying educators well and providing students with debt free education up and through higher Ed. Not everyone thinks that's as useful as I do, so who decides what is useful? What criteria should define "useful?"
Second, the idea of what a return is, is also too vague. I think there is a strong return on universal healthcare - but others see that as a form of waste. Again who decides what a return is in relation to waste?
the government ends up holding the bag in both those cases any way homeless people don't pay bill when the go to the emergency room for a wide number of problems and loan providers get paid either way I would rather cut the middle man or give people the option
It’s called the scientific method.
These added taxes could force a lot of stock holders to sell and the stock market could plunge. Pensions, retirement funds and the investments of retail investors could get wiped out if that happens.
The fact that I, a regular person, get over 20% of my paycheck taken from me is ridiculous.
Always a fan Stephan plz keep up the great work your always full of such great knowledge 👏 thankyou
Although an exhausting amount of information, definitely one of your best videos... 👍
Thanks Graham 🙏
I think this is your best video yet. Very informative and I'm sharing with others
Every cost is passed on to the consumer, that is how a business works.
As long as there are tax loopholes holes , it doesn’t matter how high taxes are raised
W2 earnings will likely bear the burnt of any new tax increases. Business owners tend to have a lot more flexibility.
For the rich, sure.
What this will affect are the middle and upper middle class, who can't afford the tricks but have a sizable enough investment/property to trigger the taxes.
Being punished for being frugal really sucks. I'm driving a 20 year old car entirely out of choice for saving money, and they want a cut of that.
As long as the government keeps increasing spending, it doesn't matter how high taxes are raised.
@@GrahamStephanpretty wild that the only thing you focus on is the shareholders and the actual company, not the paying higher wages to the employees which is better for “money velocity” than giving even more to those who don’t actually spend into the economy. Giving investors more money to hoard isn’t stimulating the economy. Giving a “middle income” earner an additional $10,000 a year, these people would be spending a significantly larger percentage of the additional money. Also would lower the total “gains” on the company, thus lowering their tax bill either way. But god forbid we even THINK about that as an option
The taxes are really meant to wipe out W2 earners. You'll basically have to start a business to make it make sense and cents.
Its really a work of art they way the government continues to misdirect the people's anger at each other for getting tax break's instead of at the government for continuing to spend like the taxpayers are their personal coffers.
Why do you think pride even exists? That group was designed by the 44th specifically to start internal fighting amongst the people to distract us from the future leader’s evil
Or get duped by the wealthy to oppose tax increases on those making over $400k. Funny how that gets ignored by all the finance bros.
We are their personal coffers. They don't care about what happens with us because they are so far disconnected from us they don't have to.
@@nobordersfilmyes let's increase taxes on the wealthy so the government can run a larger debt ratio, devaluing the dollar even further. Then inflation rises again when they print all their dollars and the cycle just gets worse and worse. Like it already does. Why encourage that behavior?
@@nobordersfilm How does a tax increase help when they already fail to spend it wisely? All a tax increase will do is take more from the bottom as margins will be offset at the expense of the workers and consumers. These companies are owned by the share holders who will always want profit increases for share price increases.
Superb video, thorough explanation, excellent!
What I think most people don’t really talk about in these conversations is with the value of money continuously going down before we know it $1 million a year income might be lower middle-class 🤔… eventually almost everybody will be paying it however, the richest of the rich will still and always have a way not to pay. These increases eventually only hurt the working class.
Paying taxes and not knowing where your tax money is going is quite shady. I think thats most peoples gripe.
Where our tax dollars is going is readily available. Google it. Before Google is was harder to track down, but still available.
Graham, thanks so much for your videos and podcast. There is so much information in the 256 pages and immensely time intensive to process. You nailed it! I definitely appreciate videos like this. Thanks again!
Thank you for watching!
The poors should just squabble and invest in Yotta.
Taxing unrealized gains is like getting arrested for a crime you haven't committed yet.
This video was great! I love how well you explain everything
Thank you for the video have a great day
Thank you! You too!
This is why you have millions of subscribers. Your content is so thorough and helpful!
One of my favorites of your videos.