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Pelosi upbeat on Biden deal but Manchin pans billionaire tax

9 Comments
By LISA MASCARO, AAMER MADHANI and ALAN FRAM

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9 Comments

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What are all the heavily invested people going to do with their market assets if they have to pay taxes on them while they sit there, having never actually made a profit yet? Historically, taxes have been paid when they are cashed in, and you profit or lose at that point. If you profit, there are taxes. If you lose, there are no taxes.

1 ( +1 / -0 )

And they are cutting the parental leave entirely.

Seems the 1000 billionaires taxed at 80% still can’t pay this social program disguised as “infrastructure”

Elon Musk certainly had an interesting response to this ridiculous proposal.

AOC now said she won’t vote yes unless they add more. If they add more then other people will vote no.

democrat fail and self own of the highest order. Enjoy your empty handed trip mr. President.

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Sanders, the Vermont Independent: “You got 48 out of 50 people supporting an agenda that works for the American people.”

Not exactly as all 50 Republicans oppose it. so actually 48 of 100.

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Nothing like a jealousy tax to fire up progressives, is there? But seriously, it is a stupid and meaningless proposal. It is ridiculous, not to mention insanely difficult, to attempt to tax 'wealth' in the form of unrealized profits.

Plus, all the leftie billionaires can easily volunteer to pay the "Patriot Tax" if they want to. I don't see Warren Buffet standing up to voluntarily pay more tax than he is required.

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Not exactly as all 50 Republicans oppose it. so actually 48 of 100.

Biden and the progressives are not going to get what they originally wanted, just won’t happen. They need to be careful that Manchin doesn’t roll over to the GOP side.

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Still, party leaders are leaving open the possibility that they'll achieve a breakthrough over the next 24 hours, before Biden gets on a plane.

Yeah because you spend trillions of dollars and vote on "framework" agreements with no text, just to give Biden a political win.

Thats not what the American people care about, meeting Biden's flight schedule.

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Attilathehungry

Nothing like a jealousy tax to fire up progressives, is there? But seriously, it is a stupid and meaningless proposal. It is ridiculous, not to mention insanely difficult, to attempt to tax 'wealth' in the form of unrealized profits.

First of all, nobody minds successful people making a lot of money. However, you would have to admit that the wealthy have bigger ability to avoid paying their fair share.

For example, Elon Musk, the richest person in the world, paid less than $70,000 in federal income taxes between 2015 and 2017, and he did not pay anything in 2018.

In the past, the wealthy would be paying back into the community that helped create their wealth in the first place. This is a start to get back to that equality.

1 ( +1 / -0 )

But as Elon says, the billionaire tax only covers about 10% of the 3.5 billion plan. Who pays the rest?

-2 ( +0 / -2 )

Excuse me, the 3.5 Trillion plan.

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