Tax Expert Breaks Down Kamala Harris's Tax Plan (FULL DETAILS)

[@karltondennis]

What do you think of Vice President Kamala Harris’s Tax Plan? Share your thoughts below!

[@carmineglitch]

She's gonna destroy the country with these tax plans

[@Glogb3100_records]

I'm voting for her I'll need that in the future

[@rls-ryan]

Vote Trump, and we won't have to worry about Democrats increasing Taxes again.

[@anthonys1965]

​@@sonyahall4733 you actually think kamala came up with that plan ? 😂 Guess what, she has been in office for almost 4 years and your life has not improved, infact i would guess it was probably way better when gas, food, housing, insurance, literally everything else was cheaper under Trump the first time and thats with every single person fighting him the whole way, wake up.

[@netdragon256]

I am a millionaire with a few million in assets and probably will be growing substantially over the next 5 years to 10 years to at least $10 million due to my investments . However, I take offense at a b******* statement that millionaires and billionaires create the jobs. They just happen to be lucky enough to be in charge of the companies that create the jobs. Sure, we work our asses off but so do 50 to 100 million other people and for most of us saying we're self-made is a stretch. I could take risks because I had a high paying career to fall back on and also wealthy relatives.. And you better believe I needed it sometimes getting things going because you usually have to fail a few times before you're successful as an entrepreneur. Yes, there are rags to riches stories but that's really the exception. There's No reason that someone needs to have a net worth of $100,000,000 and that kind of incentive is way over the top. You Don't think some entrepreneurs would work their butts off for even 1 million in net worth? You better believe it! Some will just do it for the game and nothing else. So this is all capitalist fear-mongering.. I don't ever think the threshold should go below 10 million (inflation adjusted), but a 100 million wealth tax seems just fine to me. They're just going to sell some of their assets to pay for the taxes and then life goes on. We also need to block them from taking the assets out of the country and they should go to jail if they're trying to dodge taxes. Also, The statement that there's other ways to fix our spending issues. Ignores the fact there's a wealth distribution problem that is not a government problem but a corporate greed problem. I may be a millionaire but even I am poor as s*** compared to 0.5% of people. Stop treating the whiny little billionaires special. They can handle anything we throw at them.

[@timfrink9278]

Taxing money you don't have is simply nuts

[@audiolego]

Vote Red

[@paullupo756]

The Communist Democratic party don't care if you have money or not. They want to break you and control your life.

[@ebenudeh2101]

Yea they already tax properties/ homes..

[@edwinking9438]

For those making $100million

[@edwinking9438]

For those making over $100million 🤡

[@tatianastarcic]

I don't like taxes purely for 1 reason, the government makes you calculate your own tax and penalises heavily for doing it wrong. I have no issues paying taxes as a US citizen, however I hate that I have to do the paperwork when the government already has all the info they need. Always struck me as odd.

[@TinaJames222]

I don't regret the numerous financial mistakes I've made in the past since I've learnt from them. But the biggest one was planning my finances without consulting with a licensed financial counsel.

[@nicolasbenson009]

Indeed, I did make use of a financial counselor. As I get closer to retirement, their advice has been really helpful. I thought compound interest on index funds wouldn't be sufficient because I started late. It's amusing how I've done better than colleagues who have more years of investment experience. I've profited more than $886k tax free.

[@sharonwinson-m8g]

Please who is the consultant that assists you with your investment and if you don't mind, how do I get in touch with them?

[@nicolasbenson009]

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Melissa Terri Swayne for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.

[@Vincent-j8u]

Thank you for the information. I conducted my own research on google and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call.

[@Amzgllc]

Taxing unrealized gains is insane. Tell me you want to kill economic growth without telling me you want to kill economic growth.

[@hamsterbrigade]

There is a wealth trigger of 100 million dollars to qualify for the tax. How many people do you know are worth over 100 million dollars? Also, what they're trying to fix is the loop hole where billionaires take out extremely low interest lines of credit on assets like stock and use that to live off. Then they wait for capital gains to kick in to pay down the line, so they never pay income taxes. If you've got a better idea on how to close the loop hole I'm all ears.

[@Amzgllc]

Yes a better idea than something like this would be to get rid of all the waste and fraud that happens in government every day. That alone will save tax payers billions and we’ll have a more efficient government. There is also this belief that the people that make over $100 million and fall in this category will just sit there and take it. This is where dumb ideas like this die because if there is no incentive to have your money parked somewhere you’ll simply move and relocate to another country or location where there is an incentive.

[@romariosmith422]

​@@Amzgllcfacts

[@proftony2761]

@@hamsterbrigadewhy should we close these “loopholes” in the first place?

[@tttigggerrr1]

@@hamsterbrigadei dont think you get it. All start with that and than down to lower amounts where u list all your assets and taxed for any u realized gains. Hanse marxist.

[@TheodoreMateo3h]

Tax laws can be so complex, and it’s super helpful to break them down like this. Understanding how different policies can impact our finances is crucial for making informed decisions.

[@GraziaMacahilas]

Making profitable investments during this time of political change can be risky without that insight. For me, working with an adviser is the best first step to navigate these complexities and make informed choices.

[@DeborahMicheal6k]

I think having an investment advisor is the way to go. I've been with one because I lack the expertise for the market. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks know.

[@CharlotteNoah3]

Hmmm this is quite interesting, Please can you leave the info of your investment advisor here? I’m in dire need for one.

[@DeborahMicheal6k]

Nicole Anastasia Plumlee can't divulge much. Most likely, the internet should have her basic info, you can research if you like.

[@CharlotteNoah3]

I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get.

[@joanstump285]

Sad but people don't vote based on the future they vote by listening to the news. How crazy is it to be tax on Future.

[@StopStrugglingNow]

You already are taxed in the future. $1 trillion a year in interest payments for deficit, plus growing deficit. Sure, give more tax cuts and tax breaks to increase the deficit even more while the 150 million working Americans will be paying it back. Solution?

[@justinwegner1532]

@@StopStrugglingNow Yes, Interest on the national debt is indeed a significant concern, but it’s not quite the same as being taxed on unrealized gains. Interest payments are a consequence of borrowing and deficit spending, whereas taxing unrealized gains is about assessing value before it is realized. Both impact the economy, but they do so in different ways.

[@StopStrugglingNow]

@@justinwegner1532 Please explain what vehicle you are going to use to pay down the 35 trillion on $1 trillion a year in interest and rises each year, next year about $1.2, following $1.3 or 1.4. Keeps moving up. So, you are acting like a person who has $100m+ in the brokerage account is same as taxing unrealized capital gains for people who don't, that would be fair but we are talking about less than 10,000 americans this can affect. The same people who earn $1.1 trillion and pay $1.9 billion in taxes. I'm sure every american would love to earn $100k and pay $1900 in taxes. Would love to hear where you will get the additioinal funds when 70% of the usa population is living paycheck to paycheck. Cant borrow your way out of it. So, like the roman empire. Your human slave labor runs out of money to the companies, families with the most money. Revert back to 1950's, 60's taxation or go great depression. Make the decision and it better be soon. You have solution, please explain how you would pay down interest payments, never mind about the rest. Next years Subsidies

[@mattyghost3409]

​​@@justinwegner1532Both plans aren't good... Raising tariffs on foreign entities already to what we have across the board would cause inflation

[@nataliewalters2759]

I would say that and they don’t base on policy just based on what they here or are “feeling”.

[@rouano1]

Taxing unrealized gains should be enough to sink her Presidential campaign. If you vote for someone who wants this, you're completely nuts.

[@timmoore9736]

There are a whole lot of people who have "money envy" and would spit everyone just to see those people lose money. We can agree that is nuts - and those folks are.

[@ImGerald]

except her voting base doesn't know what that means, and most likely doesn't apply to them

[@wed3k]

But trump is a "threat" to our nation and democracy 😂

[@Methodical2]

I'm in MD and the race between Hogan and Alsobrooks is, from what I understand, is very relevant as it may decide who holds the senate. Tax on unrealized gain plan is enough to make people vote for Hogan so the Republicans hold the house and senate to stop any of her madness if she were to win. I would never ever vote for this crap.

[@Dr.Octogon]

It would help that we had a candidate worth voting for as an alternative. Not worried about this tax policy as it would never pass Congress.

[@Zeegs037]

Government needs to be held accountable for balancing the budget.

[@ryanlink8699]

And all their “lost” money every year. How they lose billions by accident? Every freaking year.

[@extravagantnews1799]

Budget is always balanced. Focus on the spending

[@Embae92]

Tell that to the one who has filed multiple bankruptcies among other things and still served as leader of our free country.

[@vc6984]

Not just balance. How about reducing the budget by getting rid of so much waste and payments out to people who should not be grifting off the U.S.citizen. Having a surplus would be amazing.

[@keagan5379]

Exactly, so much funding is wasted every year and yet people think the solution is to tax everything and the kitchen sink

[@James-r4b4b]

It's criminal,we had a war in this country for being taxed without representation,and now we are back in that same boat ,

[@VienerSchnitzel69]

??? Wtf are you talking about, every single state has representation in the federal government.

[@mrcrackdonald_1]

That’s the difference: you DO have representation this time, you can vote against electing this person in office. Back then they didn’t have this right.

[@Eden-qh4el]

No taxation with shitty representation

[@redhunnid5142]

IT IS CALLED VOTING YOU COULD NOT VOTE BACK IN THOSE TIMES BUT THE UNITED STATES ALLOWS FOR YOU TO DO IT IN MODERN SOCIETY

[@IamTheLocalHam]

​@@VienerSchnitzel69representation?? We haven't increased the number of representatives to keep up with population. From then to now each individual person is 90% LESS REPRESENTED. There is currently 1 Representative for about 43k people

[@veronicavillarreal4194]

I've been a tax preparer for over 10yrs . He is absolutely right in all he is saying . I'm with you..

[@Tetrahfy]

Who cares???? It’s not fair for the poor . We need to tax the rich until it’s fair .

[@williamlovaton8182]

​@@Tetrahfy how much is fair then? Who is going to decide how much is fair?

[@moisesrios7899]

​@@Tetrahfy Grew up poor my entire life many times I was scared I didn't have food to eat taxing the rich won't do anything and wont provide anything for the lower class you are a fool if you think our government takes care of the poor in this country.

[@randymanninen5213]

​@Tetrahfy so over tax the rich until they leave so poverty can get worse sounds great!

[@user-pd7il3xz5j]

​@@Tetrahfyopen your eyes, one aspect is if you unfairly tax the rich, goodbye to their businesses that provide thousands of jobs. Don't be so short sighted. And LISTEN to the video again.

[@vinauttv7167]

Dude, you seem to have knowledge of the economy that most of us don't have. Folks don't realize that the economy is a little more complicated than the average person thinks. Keep it up, you've gained a new follower.

[@BEAUTYnIQ]

same. hes spot on..

[@Brandon-c7v1m]

This is also why half the country is gonna vote for Harris and have no idea how terrible she would be for their wallets

[@virtualwhispers]

@@Brandon-c7v1m Trump is a hell of a lot more dangerous

[@carlosewell3801]

How does he know her tax plan when he just said he didn't know her.

[@carlosewell3801]

Where is he getting he data and where is it so we can check for ourselves because unfortunately, you can't stand on the words of some black folks. All skinfolks are not Black folks.

[@andrewhoover4641]

Taxing unrealized gains would destroy innovation. He’s right , the bar would be lowered to everyone at some point.

[@randomhuman2595]

She said it would just be for super rich people, does this change anything?

[@qugo8158]

​@randomhuman2595 income tax was supposed to be for the ultra wealthy and only temporary. Look where we are now with it. The whole focal point of US history has always been about precedent and how that leaks slowly into other facets of society.

[@randomhuman2595]

@qugo8158 How could you run the 🇺🇸 without any income tax though? Who would pay for Medicare or the schools or the roads or the 🪖?

[@qugo8158]

@randomhuman2595 That's not the argument here. We're discussing how the bar has been lowered in previous instances, such as income tax. It certainly will happen with these unrealized capital gains taxes. Our history has shown us enough proof of that. It doesn't matter what these taxes have been used for. We know eventually, it will work its way down to the middle, then lower class.

[@randomhuman2595]

@qugo8158 The bar was lowered for income tax because it was nesecary to run a proper society. I don't think lower the bar for capital gains tax is nesecary to run a proper society

[@firstcynic92]

Concerning the tax on unrealized capital gains, you also need to ask 2 questions. 1) How often is it paid? If that's paid every year you'll be paying taxes on the same money over and over, making ANY investment a worthless proposition. 2) How will people pay it? The best way to pay it is to sell the unrealized gain. Lots of people selling stocks, properties, and other assets will depress the market for those goods significantly. Even if it's only the ultra wealthy selling, there would be a crash like nobody has ever seen.

[@donnameans1030]

That’s what’s going to happen if she’s elected!

[@dflesh6014]

2) answer is to make a person sell the asset to pay the 'unrealized' gain tax, only to now pay even greater tax on the 'realized' gain!

[@firstcynic92]

@@dflesh6014 Harris administration: We tanked the economy, but we made 3% more on capital gains tax! That extra few billion will fund the government for... a couple of days. And the loss of revenue because of unemployment will fund the government for... no time at all.

[@philipng1127]

It's net gain over the previous year bro. And the tax is on the net gain, not the total of your worth. And you have to have 100mil to have that badge of honor. 100mil investible income year 1 gain 10% = 10mil. tax at say 5% net gain, net worth becomes 109.5mil. Do the math and you will know. If you have negative returns then no tax on that bracket.

[@VienerSchnitzel69]

⁠@@philipng1127 Actually not true, if you’re over 100 mil networth , have negative returns, and you’ve previously been taxed on unrealized gains, you’ll receive money back at the same rate that you pay unrealized gains taxes.

[@gonzmic99]

open the door to unrealized tax gains and it will never end.

[@moneymakingsteven2744]

Exactly

[@randomhuman2595]

Do other countries do it?

[@dyslexcii]

@@randomhuman2595Norway does, but at a rate of 1%. The Neatherlands does at a rate of 1.7%. The key is how low these are, as once it starts to raise higher those wealthy would rather their money go elsewhere. Many European countries used to, such as Denmark, Germany, Ireland, etc, but almost all of them have since repelled the tax as it caused their wealthy to outflow their cash elsewhere while the country still had the administrative costs. An example is the founder of Ikea leaving Sweden as a result of this tax. Basically, it has not worked in past history, and the current ones that do are at a MUCH lower rate than 25%, as that would simply push the wealth out of the market.

[@sealisa1398]

One thing leads to another. It will never stop.

[@CG-vn5xh]

You’re right! The government already screwed up social security, next they will be after my 401k. They was us dependent on them

[@thespeakersoftruth7187]

Her plan has deadly consequences. Also, it's time that people do their homework and understand that the national debt is not the fault of the U.S. population. We're being bamboozled. It's time to take appropriate action.

[@RamonPerez-ft4vr]

The Federal Government debt is the fault of the Federal Government wastefully using tax payer money on stupid stuff. You notice that they don't use their own money. The Federal Government is out of touch with reality. If the Federal Government and the bureaucrats would take half the money that they make each year and apply it to the Federal Government debt, we could probably have the Federal Government debt paid off in 30 years. Unfortunately the Federal Government doesn't know how to balance a checkbook.

[@tiktokshock4652]

We’re just slaves at this point, working to pay for whatever the government wants to spend money on

[@JohnSmith-bs9ym]

People don't though. My liberal leaning wife does not know the first thing about the economy. Only cares about "feel good" things, but literally can't name one policy on either side. I hate to say it, but she is the prime example of why people vote dem lol...

[@thespeakersoftruth7187]

@@JohnSmith-bs9ymLOL. Hang in there. This is an insidious system. One some level, we have to forgive people on all sides. For they know not what they do.

[@johnshaw6702]

I agree on both points. A tax on unrealized tax would probably hurt everyone who is vested in stocks, which is probably anyone with a retirement fund. The government has been wasting money for decades and hiding the amount they are sending to other countries. The so-called trillion dollar COVID bill allowed them to send hundreds of millions to other countries, that's where most of it went. Spending more money is not the solution to all problems, but the government seems to think it is. They also don't seem to know how to turn off the faucet, even after a program is no longer needed.

[@cruisingholiday4996]

I was impressed with the simple explanation you have given to give clarity to the issues proposed. I recently retired after 55 years as a tax accountant and the policies being proposed by Harris are extremely dangerous and would deeply effect the overall economy and households. They would be a disaster for our national economy and every taxpayer.

[@burtonkrichard8898]

No it wouldn’t. Harris’ plan is the only logical solution forward. We have to find a way to stop wealth hoarding. And taxing billionaires into millionaire status is the only logical way.

[@gloriasykes9464]

Accountants and tax lawyers need to speak up!

[@davidtheboa1997]

@@cruisingholiday4996 how are you go into say it’s dangerous and not explain why?

[@imscaryskeleton5446]

@@davidtheboa1997 because the video explains why

[@2gfc2011]

@@imscaryskeleton5446 The video is just a KZbinr's take, not a scholarly analysis.

[@mjt1813]

Really enjoyed listening to this man. Intelligent and explains things that were easily understood. Thank you

[@GenDominion]

People vote based on their feelings and emotions, and this is now where we are.

[@NubianGoddess15]

People vote for freedom. Tax cuts are not going to help us when we are discriminated against.

[@Cod_Killa23]

What freedoms is trump taking away specifically? I can tell you, a lack of financial freedom is almost the equivalent of slavery. Sounds like she’s taking you freedoms away 🤔🤔

[@davidmeloche3563]

​​@@NubianGoddess15Do you not pay taxes? What freedom is going to be taken away from you if you don't vote for the person who will destroy the economy by taxing things that don't exist yet?

[@tabathahudson6060]

@@NubianGoddess15IF YOU KNOW WHO YOU ARE, then how can ANYONE bring you down by their hatred? I suppose you are speaking of DJT? What has DJT ever down to YOU? During his presidency what exactly did he do to YOU? Anyone? Besides Make America GREAT for ALL of US??? What has The Democratic Party did to YOU? They did NOT ALLOW YOU to CHOOSE Your presidential nominee, they CHOOSE her for YOU, that’s taking YOUR FREEDOM, and making YOU NOT COUNT.

[@NubianGoddess15]

@@tabathahudson6060 Dear Heart, Trump did not make America great for us all. You may be happy because you received a tax break, but the others that may not have a business netting $1 million dollars have suffered. I am not sure how you came to the conclusion that he made America great for us all when 81 million people voted against him in the last election. The majority of the people in this country DO NOT LIKE DONALD TRUMP.

[@rachelmadrone3168]

Wow, youre doing what the mainstream media is not doing. Telling the voters something very important and of substance! Thank you so much

[@cscott5196]

Mainstream media is complicit, they know. PSA: Smith-Dundt Modernization Act of 2012 reversed a previous law that made it illegal to spread propaganda within the US. Once Obama signed in 2012, propaganda became legal in the US as long as it could be reasonably expected that a non-citizen would either read, see, or hear the "propaganda". With the advancement in technology, this wasn't an issue for social media, newspapers, or stations to achieve. When it first happened there were a couple stories that came out but they were quickly quieted within about 6mos. I can't find anything in searches online and online "fact-checkers" will all claim this to be false. However, if you read/suffer thru the legalese of the bill on our govt sites, you'll see it's true. Fun fact: The bill specified the source for the propaganda would be the Secretary of State who at that time was Hillary Clinton and now: Anthony Blinken. The more you know 🌈

[@reidbalzer9514]

like Ramsey says, If you have a spending problem, more money will never help.... they will only spend more.

[@javier.alvarez764]

applies to all women.

[@Shotleythinktank]

@@javier.alvarez764excuse me!? My sister has grown a million dollar retirement fund that could have been double if her husband didn’t spend money on toys, vacations, etc.

[@flch95]

@@javier.alvarez764lol yea it does lol!

[@flch95]

He also said that corporations never pay tax, they just pass it on to the consumer which makes sense.

[@richardmenz3257]

@@flch95all cost are passed to consumer. Only way it isn’t is by breaking up monopolies and making it super easy to start businesses that can compete.

[@rd10]

Probably the best and most honest analysis of kamala’s “economic proposal” out there. Wish more people out there would actually listen and educate themselves on these improvements issues.

[@damonnin7699]

Funny how as I’m watching this video KZbin grants me the pleasure of an ad with Kamala asking for donations… again

[@timothyspradlin8433]

You need to block that s***

[@nabi5864]

Google/KZbin BS left liberal algorithm

[@fernandoserna4849]

marxist At Its Finest and All under deathocrat bureaucrat authority and It's elites And the millions misinformed unaware

[@markgoff3367]

I wouldn't give her a cent.

[@DMac123]

@@timothyspradlin8433 oh if you can enlighten one on how to block the ads on youtube i think we would all love to hear it lol

[@SusanL.-zk5du]

As a small business owner, I’m exhausted from taxation. My business does not sustain over spending and it is not fair to ask my cliental to cover my over spending if I do. It’s a NO vote for Harris.

[@tishabobbitt2624]

😂 awww man I definitely feel you. It's freaking terrible.

[@acr8615]

Ppl will stop going to your business.

[@sherylbarry9143]

@@SusanL.-zk5du then Congress spends it like it’s lotto winnings

[@zedrick212]

and pronounce her name right

[@gruenpunkt]

She wants to DESTROY small business. Every plan she has is designed to tank any small business. New and established, you will PAY more!

[@faith4america]

If unrealized capital gains tax ends up being forced on everyone, that means YOUR 401K could be taxed! Can you imagine paying 25% a year for every dollar your retirement might go up - BEFORE you even get to cash it in? Then, when you’re ready to retire and you go to cash it in, if you manage to save $1 million dollars, there’s a possibility that you’ll be taxed for the increased rate of the capital gains tax - on top of any applicable income tax when you start drawing your retirement. This is terrifying in age when many people are struggling with having enough wealth to ever retire to begin with.

[@patricksmith7062]

They don't want us to retire. They want us to work until we die that's how it seems.

[@benjamincarnes9117]

Sad reality is the majority of people dont even understand this nor conceptualize it. all these woke uneducated college kids voting for feelings instead of economic growth and future success.

[@kdjones5149]

It would only apply to the wealthiest Americans but would still impact everyone else.

[@andrewsheek]

​@@kdjones5149if you think a $1mil retirement account is "only the wealthiest Americans" then you don't know shit. That's blue collar worker retirement money in a 401k.

[@forgipper]

@@kdjones5149 SMH. It’s a Marxist tactic to divide society by class. Be better.

[@VideoAprilSam]

First time listener-loving this. Very thorough-good job! I’m going to subscribe 🙌🏼

[@FrenchysPlaysTV]

"You'll own nothing and you'll be happy" Love the breakdown, up until this point I'd heard a couple of her policies but nothing concrete. Thank you for breaking it down!

[@stevepetty7009]

The opposite. This tax would level up wealth inequality a bit.

[@ThatsRight1776]

@@stevepetty7009 The gini-coefficient went down during the Trump administration in 2017, 2018, and 2019 (pandemic through a wrench in that in 2020 but every country had to deal with that, no matter who their leader was). This was the first time the gini-coefficient went down since 1992. Anybody who is concerned about wealth inequality should be happy about that. And he managed it while lowering about 80% of American's income taxes! I know who I'm voting for.

[@mayawilliams9960]

@@ThatsRight1776 True, but the dollar value of the tax cuts was significantly larger for higher-income earners due to the structure of the tax code. And high income earners benefit more from corporate tax cuts (which were permanent) and from investment income taxation. Due to this there’s been a significant amount added to the federal deficit, the gov might need to reduce funding to programs that low/middle class families depend on. Another thing is how low/middle families compared to high income families use their tax cuts. Low/middle spend a large portion of their income while wealthy families save/invest their tax cuts. This behavior means mean the economic stimulus created by tax cuts was less impactful. Wealthy households received the largest tax break but were less likely to spend their extra income which could have stimulated demand in the economy

[@ThatsRight1776]

@@mayawilliams9960 "the dollar value of the tax cuts was significantly larger for higher-income earners"... well sure, even a smaller percent on a larger amount of money can be a larger dollar value, but the tax cuts were focused on the working/middle class. Other aspects of the TCJA were the opposite of beneficial to high earners with a lot of assets, for example the SALT cap being set at $10,000 limited the higher earners ability to deduct things like property tax on mansions, vacation homes, etc. that was over $10k. TCJA along with Trump's other economic policies resulted in record income growth and a larger share of that income growth being at the low, working, and middle class: "Real median household income increased by $4,400 in 2019, reaching an all-time record high of $68,700. This represents a 6.8 percent one-year increase, which is the largest one-year increase in median income on record. Since 2016, real median household income has increased by 9.7 percent. Income gains in 2019 were largest for minority groups. Real median income grew by 7.9 percent for black Americans, 7.1 percent for Hispanic Americans, and 10.6 percent for Asian Americans (see Figure 1). These one-year increases were all record highs, and the new income levels reached in 2019 were all record highs, as well.As incomes grew, income inequality fell for the second consecutive year. Between 2017 and 2019, the Gini index of income inequality fell from 0.489 to 0.484. Over the same two-year period, the share of income held by the top 20 percent fell by 0.4 percentage points." - National Archives Sep 15, 2020. NOTICE the income held by the top 20% fell, highlighting that the majority of the benefit of increased incomes went to the lower 80%

[@ThatsRight1776]

@@mayawilliams9960 "And high income earners benefit more from corporate tax cuts" - Please explain why you think this, because its generally not true. Assuming you work in the private sector, you are most likely employed by a corporation like I am, correct? Lets say that corporation pays me $65,000/year of income and you $350,000/year in income... neither of us are taxed based on the corporate tax rate so what makes you think the higher income person benefitted more from a corporate rate cut. "there’s been a significant amount added to the federal deficit, he gov might need to reduce funding to programs"... this is also false, since the TCJA was implemented the federal governments tax revenue has gone UP significantly and funding (spending) has gone up significantly. Spending has gone up too much, that's why the deficit increased. "wealthy families save/invest their tax cuts. This behavior means mean the economic stimulus created by tax cuts was less impactful. Wealthy households received the largest tax break but were less likely to spend their extra income which could have stimulated demand in the economy" - This assertion is based on Keynesian economic theory and really isn't true in practice because it ignores the supply side of economics. If the wealthy are investing or saving money, that impacts the economy as does spending on groceries, clothes, or whatever else. If they are investing in something, that creates demand for whatever it is they are investing in, whether its physical materials, businesses, the stock market, real-estate or anything else. Even if they just put money in the bank (which wealthy people don't do when interest rates are very low like they were), banks need to have a certain amount of money in them to be able to lend money. Banks are required to hold a minimum of 10% of their deposits in reserve, banks are allowed to lend out the remaining amount, the other 90%. Also, if you're stimulating too much demand without investment, you don't get enough supply and prices go up.... (i.e. if everyone is buying a ton of goods, but nobody is investing in the businesses that create the supply of goods, prices go up which hurts the poor/working/and middle class the most).

[@epixentertainmentinc5963]

Thank you for educating your followers. Too many people don't have an understanding about basic economics.

[@StopStrugglingNow]

You still have a misunderstanding. The tax Kamala is talking about is not based on net worth. Its based on $100m+ in an asset class. You don't like corporations buying $250m worth of homes? Over $100m, 28% tax. You like billionaires blowing up rockets receiving subsidies. tax cuts. tax breaks? Who have billions in stock, they borrow against. 28% tax on stock accounts over $100m+. How will you pay down $1 billion in interest yearly and principal 35 trillion deficit and counting? Solution, please

[@guambroker]

Including Kamala

[@rouano1]

@@StopStrugglingNow You're not understanding the situation at all. Go educate yourself and come back.

[@StopStrugglingNow]

@@rouano1 What did you miss? You know one of the 10,000 people in America that has $100 million in an asset class? Educate yourself. Doesn't apply to anyone else. Then educate yourself how America will pay down $1 trillion a year in interest, plus principal, plus current tax bill due. Educate me please.

[@rouano1]

@@StopStrugglingNow I know you're really not so ignorant as to believe that the super rich are the only ones who'll be affected if this stupid tax law goes into effect. You couldn't be or maybe you could.

[@thelmamccoy4917]

Taxing unrealized capital gains is utterly ridiculous 😑

[@hamsterbrigade]

There is a wealth trigger of 100 million dollars to qualify for the tax. How many people do you know are worth over 100 million dollars? Also, what they're trying to fix is the loop hole where billionaires take out extremely low interest lines of credit on assets like stock and use that to live off. Then they wait for capital gains to kick in to pay down the line, so they never pay income taxes. If you've got a better idea on how to close the loop hole I'm all ears.

[@chrisbrannan8031]

@@hamsterbrigade income tax started as a tax on the 1 percent, now every have income tax. so now they want to tax unrealized gains on the 1 percent. one thing I know is liberals love spending other people's money, so eventually they will tax everyone's unrealized gains.

[@Luis-qm2bo]

@@thelmamccoy4917 apparently it's already done with property taxes it an estimate. It leads to trying to stop people from making houses an asset to profit out of just be housing

[@jasonshumake777]

@@hamsterbrigadeas he stated income tax was originally only for the top 1 percent but now everyone pays it.

[@idkjacob420]

@@hamsterbrigadewatch them leave the us and take their wealth with them.. watch them sell off their stock to pay for unrealized gains and screw my retirement account.. watch this stupid policy screw us

[@sunsetengineers]

Thanks!

[@michaeldean1906]

Some people can’t make it right now, but will vote for 4 years to be even worse! Can’t fix stupidity!

[@Toody49]

And people don’t understand that if businesses have to pay more taxes, we are going to be charged more, as the consumer, when we buy their products because businesses have to make that money up somehow.

[@jonathanschell964]

Sorry this is why I’m not voting. Trump isn’t fit to run the country and I don’t have faith in Kamala. I’m tired of choosing the “lesser of two evils”. When are we just gonna get good candidates? Our two party election system doesn’t work. We need more options to choose from.

[@donnameans1030]

@@jonathanschell964 you best love this country more then you hate Trump! I don’t want tax on tips and I don’t want taxes on ss! Plz plz vote for Trump get us out of the mess Harris and Biden has gotten us in! Be smart vote for the one that is best that’s Trump

[@jonathanschell964]

@@donnameans1030 nope, I won’t. Sorry you can’t tell me how to vote, or to vote at all.

[@jonathanschell964]

@@donnameans1030 tips and ss are income and income gets taxed. Sorry if the tenants of basic economics elude you you…

[@tamparei]

The fatal flaw of the common voter: believing that giving the government more money from pockets that aren’t theirs will actually end up helping them. Fueled by jealousy and hate of those better off than themselves - and rather see people “above them” punished rather than voting to decrease taxes for all so all are better off. If the government was efficient at all, our tax brackets could easily be 6-12% instead of 12-50%. We need to reduce spending and reduce taxes to do better economically as a whole. Increasing spending and taxes does the opposite

[@KT-ul8je]

Genius level thinking. Soooo hard to get folks to vote in this direction.

[@Luis-qm2bo]

I'm sure the reason the government isn't as efficient as it could be is because we have lobbying and super pacs that influence politicians to only be effective in the interest of the wealthy. If the 4:27 government was efficient in meeting your basic needs then by your logic you wouldn't have a problem in taxing more. Would you?

[@tamparei]

@@Luis-qm2bo the reason it isn’t efficient is complex. At the heart of it, it’s the motivations and system. Politicians get paid by being elected. Their terms are short relative to a salaried job. They will make policy that will get them votes, most policies increase spending. So politicians are incentivized to spend. Oh, and they make even more money if they use their influence for: affiliate marketing, sponsorships, insider trading, colluding etc. So how much can they get done, and done efficiently, if their terms are short (so much of their time is revolving around campaigning to stay elected) and create spending to get votes for their job security regardless if it’s good or not for the majority. To your second point, no I would not be okay with the government taxing me more by providing basic needs. I’m more efficient with my time and money than the government, as most people should be even average people. I don’t want my basics covered and have higher taxes. I would rather we reduce taxes across the board, reduce government spending, have government voted for and their jobs kept by staying within their budget, and use taxpayer money to benefit the tax payers and this country (US citizens).

[@Luis-qm2bo]

@@tamparei to the second point with regards to you being more efficient than the government, you and most people in America are more likely to be homeless, crippled or in crippling debts. I understand that you'd like to be tax less if you super rich or for everyone be tax less. It be more efficient if everyone money to be used in covering your basic needs because they are needs not wants. To your other points I think some of these problems could be fixed by elongating house representatives to 3 years instead of 2 years, having more accounts on the job to reduce fraudulent spending, have stronger spending in investigating fraudulent acts and getting rid of citizens united and trading in Congress. Anyways make sure to vote especiallylocal elections if you'd like to see change nearby. 😋👍

[@tamparei]

@@Luis-qm2bo Nothing is free - increasing taxes to pay for “basic needs” costs more money than if people produce their own basic needs and not pay the increased taxes. The only people that benefit from a socialist system is the bottom few that don’t want to work enough to get by. We can sit and argue about it but you and I won’t change each others minds. That victim mindset though, will absolutely keep you poor.

[@CherryDempsy]

Truth! Many people don’t look into policies and history. Thank you breaking this down. Many of our friends say this won’t hit our level. Yeah, ok.

[@wackadoodle4446]

If they tax unreleased gains on the rich they will pull out of the market and everyone’s 401k will be destroyed

[@StopStrugglingNow]

yeah, fact check yourself. 1st premise is incorrect. Unrealized is only asset class that a person is holding $100m+ in. You will be worth well more than $100m to do this. Do your own research.

[@wackadoodle4446]

@@StopStrugglingNow so the wealthy will sell stocks in the miillions to pay a criminal tax and it won’t have any impact on the share price and investments such as IRAs and 401k? lol

[@nicka-trade8052]

​@@StopStrugglingNowI can tell you don't get involved in the stock market.

[@CrystalLovesChrist]

@@StopStrugglingNow they said the same thing about income tax in the 30s and yet here we are……

[@JonathanCiepiela]

Crazy cause I had no idea that you could be taxed for gains that you haven't even made yet. I'm kinda new to all this but this was a great piece of information to have. Appreciate ya👍

[@AF_1892]

You shouldn't. What a dumb part of legislation. Im not paying gains on imaginary profits.

[@andrewcruz3837]

@@AF_1892if harris wins you WILL be you have no choice lmao

[@masonhumphrey]

This is not what would happen, her plan was only for those who 100 million or more, not you haha.

[@Laurtew]

As a small business owner, if my costs (including taxes) go up, my prices have to go up or I have to cut my spending (such as the quality of my ingredients or laying off employees.) If I can't pay my bills or if I'm just working to pay them, I won't stay in business. I can close my business and go to work for someone else, where I'd put in less effort and risk.

[@neapolitaniceream6645]

But isn’t she doing something to help small businesses? Just asking cause I’m pretty sure she announced it at one of her Rallies or whatever.

[@suedi-annhamilton6032]

​@neapolitaniceream6645 No.....these people are politicians.

[@JordanWoolfolk-lx6zt]

Increase taxes for more wasteful spending

[@Romns1513]

Precisely all that democrats ever do

[@criscross7362]

I couldn't agree more with you. I am sick and tired of having to pay for defence, GI Bill, veteran services, oil subsidies, farmers subsidies, grants, and the list goes on and on and on and on and on.

[@dmoffitt1914]

Wasteful spending is what moves the economy under capitalism.

[@princeothello5802]

U can bankrupt a country being Fiscally responsible.

[@Welovehorrormovies]

Yup, trillions of dollars sent to Ukraine 🙈

[@LK-mo8bj]

I can't understand people who prioritize race, gender and abortion over economic stability and staying out of nuclear war. This tax means you can never build wealth and must work until the grave because your savings will never allow retirement.

[@CG-vn5xh]

Totally agree.

[@jash6244]

That's why I'm thinking about buying my tent now because if Harris becomes president I'll most likely be homeless with alot of other people in America so I guess it's better to be prepared just in case because this is a very scary world we all live in God help us all .

[@mayawilliams9960]

Trumps tax plan also has many faults

[@VienerSchnitzel69]

This tax plan only directly applies to people making over 100 million. No one else will be taxed on unrealized gains.

[@IVEREIStan]

@@VienerSchnitzel69 doesn’t mean other people are unaffected

[@cindyray3379]

Thank you for diving into this topic! Very helpful!!

[@CameronFussner]

These frequent tax code changes are disrupting my long-term investment strategies. Are there ways to structure my investments to be more resilient to potential tax code modifications?

[@williamDonaldson432]

I honestly think America needs a completely restructure of their political system. It is just not working. Trump and Biden being elected out of 300 million people to run the country is evidence for that too.

[@foreverlaura-fq4eu]

This is why the US should elect more progressive politicians, who know how to manage budgets and give us (yes, pur country's initials literally spell out that pronoun) much better tax credits in return for better public education and better public healthcare. but since these are nonexistent, my husband and I are being guided to finance our retirement and healthcare through a diversified investment portfolio

[@Bellaelena549]

How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?

[@foreverlaura-fq4eu]

Annette Marie Holt is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

[@Ron-cg2hf]

If you fire all Democrats, tax policy will become more stable.

[@justinmathias2495]

Basically folks vote for Trump, unless you wanted to destroy this country

[@StopStrugglingNow]

Tax cuts, tax breaks is not good for your unrealized tax bill. $1 trillion interest only on deficit paid by who? Then principal of $35 trillion. how will this get paid. If you are giving the people who make the most, tax cuts, tax breaks, subsidies? 1980 trickle down tax cuts started 50yrs later 70% - 80% of usa population living paycheck to paycheck and wondering why. Listening to this kind of stuff with no solution. Cause solution means taking those blowing up rockets what they received in tax cuts and tax breaks instead of putting the burden on 150-200 million Americans to pay their share. How does the rich earn $1 trillion, 1000 billion dollar stacks of money. Only pay $1.9 billion in taxes? Thats like you earning $100k and paying tax of $1900. Who will make up the difference? Yeah, sustainable for who?

[@izzybizzy3650]

It’s for people making over 100 million. I seriously doubt you have to worry about this. Tax the rich !!

[@justinmathias2495]

@@izzybizzy3650 you are correct in your assumption but when income tax first started it was only on the top 1%ters, now we're all paying it and we all know history repeats itself sweetheart

[@izzybizzy3650]

@@justinmathias2495 you understand that you have to have capital gains in order to be taxed ? If you don't have any investments you'll probably never have to worry about this. 🙄😒 Tax the rich !!

[@StopStrugglingNow]

@@izzybizzy3650 It's better, have to have $100m+ in lets say brokerage account. Or own $100m or more in real estate. Solves corporations buying 100's or thousands of homes. Purchase price can't be disputed or approximate value. Pay down deficit somehow. From top 1%, less than 10,000 people have $100m in an asset class

[@marijanedoe]

this video was so helpful! as a young voter who is still just beginning to learn what all this stuff really means, this was very clear and easy to understand! love it!

[@Tetrahfy]

Don’t believe him he’s paid by the RNC .. it’s corporate greed causing inflation . Award winning economics say that Trump will tank the economy and Kamala will GROW IT .

[@Sataka23clips]

Vote trump after 4 years your life will be good but if you vote kamala you will end up homeless

[@ThomasPrart]

Brush up on history and economics as much as possible of you want to make well informed decisions.

[@bigarj2]

This is a great breakdown.

[@lc6521]

Thank you for breaking down Kamala's crazy tax plan and point out how it would affects ALL of us at some point.

[@edwinking9438]

Yeah cause taxing the Wealthy is bad 🤡🤡🤡

[@lc6521]

@@edwinking9438 Not just the wealthy..taxing on EVERYONE in time!!! Go back and watch again.

[@johnshaw6702]

Probably sooner than you think. When they sell their stocks to pay the tax, anyone holding stocks personally will probably feel it right away. Mass sell offs of stocks has a major effect on the stock market. If they had an unrealized tax of 100 million they may have to sell 250 million worth of stock, which will require them to pay a realized tax of 50 million, which may lead to selling more stock to pay that, etcetera... Basically they could end up selling over 30 million (edit) worth of stock to pay all the taxes resulting from the original unrealized income tax. Good news, they probably wouldn't have to pay that tax again for sometime, but then it would start all over.

[@todddavis5433]

​@@edwinking9438how will taxing the wealthy help you?

[@jeant10]

Well, Trump's outrageous tariffs plan will tax all American's right out of the gate causing even someone living on $60k to get punished with a $4k per year tax through induced inflation of basic goods one needs to live on. Don't buy the BS the Chinese pay for it. They don't. You the consumer pays for it on the resulting inflated prices of goods. Tariffs are what destroyed the economy and middle class under Hoover and would do the same under Trump for the same reasons.

[@9amMoonwalker]

Setting the wealth tax high; then encouraging people to become wealthy "entrepreneurs" is Diabolical 🥴

[@nickmeeks3061]

Exactly lol How people don't see the irony amazes me

[@joyspillsthetea6128]

Comment of the year 😂😂😂😂

[@garryharris9098]

Then, creating more money and making it worth less causes everyone who makes a decent living seem wealthy, but you can't buy any more than people in the 60s did making 3.00 dollars an hour.

[@9amMoonwalker]

@@garryharris9098 💯

[@geraldos9094]

I think it’s all setting us up for a case of “unintended consequences”. Write a bill to tax the rich, then add a few tax loopholes for them to get out, the media isn’t going to press Kamala on the failed policy and will quickly dissolve in a microwave news cycle.

[@definitelynotlebronjames443]

⁠everyone talking about the capital gains tax being for 100M net worth individuals who owns apartment buildings? What about the company you work for? Grocery companies? Material manufacturers? Etc? High net worth individuals who will pass down this loss to the consumers and employees by decreased wage growth and higher prices.Simple economics

[@yojojo3000]

Thus the need to either stimulate competition for the better, or better yet, get the FTC to break up the monopolies that shouldn’t exist

[@cscott5196]

And it's not just 100M. Do people realize that how income taxes started - "just for the ultra wealthy". Then within a couple years, everyone was getting taxed. When they talk about the top 10%, they're talking about people making about 140k per year - that's who they mean when they say the "ultra wealthy" you guys! Stop believing the interpretations media does for you & read the fine print for yourselves. Media is not on your side, none of them are!

[@definitelynotlebronjames443]

@@yojojo3000 there are thousands of property companies in the USA. Many of these exceeding 100M in assets. These aren’t monopolies. Amazon is a monopoly. In this example the Capital gains tax would only negatively affect the average person. This is going to affect Office leases, apartment buildings, etc. all of which the effects would get passed down to employees and renters.

[@willflores8052]

Trump would bring so much chaos back with deportations and is tariffs, this hypothetical is almost irrelevant.

[@Lisa-my5sy]

@@willflores8052deportations need to happen

[@michaelnitake2534]

Excellent synopsis and summary. I learned alot from this podcast Brilliby

[@dannykanchanarin4295]

Did you forget Kamala cast the deciding vote to make tips taxable to begin with.

[@kilikdudley]

Dang, I didn’t know that. She’s so fickle

[@peggychamberlain9515]

Yes she did!!

[@nataliewalters2759]

So I guess it was not good when Trump wanted to do it but good enough when she suggests it.

[@sherih8879]

She’s a copy cat copying Trumps idea policy 🤬

[@ShadowSiegeX]

CORRECT!

[@jesusortega5679]

Also. Corporate taxes will just get passed to the consumer. Raising prices on products in order to pay said taxes!

[@johnkurst8493]

Name any time in history this was not the case, Businesses pass on cost. Are you suggesting businesses simply not be taxed?

[@Outlawjumptfoff]

Its disgusting she is going to RUIN OUR LIVES

[@larryjergeod8301]

It's a trump idea!

[@PCHernandez86]

@TitoJackson-t7dIf they pass it, it will eventually hit people that don’t make $100M… It’s always happened, and this will raise prices to keep their companies valued higher. Taxing is already a joke, but taxing higher hurts us no matter the level of wealth you have.

[@Sataka23clips]

​@TitoJackson-t7dthe company you work for makes 100million it will be taxed you will be fired so that the company makes less than 100million. Ask your self why jeff bezos is not worried thay know they safe they want small companies. To die small.

[@safeman1x]

@@PCHernandez86 “its always happens” man I don’t live my day to day life on scary boogey man assumptions. Thats just a scare tactic. Trumps tax cuts screwed me over too and I live in the mid west and have one W2

[@PCHernandez86]

@@safeman1xYou live in the Midwest. That’s your fault for staying in an area that hurts you. I haven’t been a W2 employee in many years. You don’t like paying taxes, learn to stop paying taxes. Put blame on yourself for not learning and not making more.

[@jttrauth4494]

Doesn’t the increase on capital gains tax have to be approved by congress?

[@DonaldMark-ne7se]

The utilization of after-tax money and tax-free growth makes opening a Roth IRA very advantageous. Through a careful guidance of my FA, I did not pay taxes on my withdrawals of $2.86 million when I retired.

[@Crystal__sage-b7k]

I don't regret the numerous financial mistakes I've made in the past since I've learnt from them. But the biggest one was planning my finances without consulting with a licensed financial counsel.

[@Nicole_Andys]

For the average person, the strategies are fairly demanding. In actuality, most professionals who have the necessary abilities and knowledge to complete such occupations do so successfully.

[@GavinRay_q9x]

Indeed, I did make use of a financial counselor. As I get closer to retirement, their advice has been really helpful. I thought compound interest on index funds wouldn't be sufficient because I started late. It's amusing how I've done better than colleagues who have more years of investment experience. I've profited more than $886k tax free.

[@Crystal__sage-b7k]

Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?

[@GavinRay_q9x]

Carol Vivian Constable is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@darrellbrown9475]

Democrats goal is for common person to never be financially independent, never be able to retire, never be able to pass wealth to your children.

[@AChillin01R]

How is that? Please explain that?

[@alexandrasophia24]

@@darrellbrown9475 You got that right. To destroy America being America into the New World Order.

[@JohnDoeUMAL16]

@@AChillin01R Do you pay for gas? Groceries? Do you own a house or pay taxes? If you do any of these then the reason is right under your nose and you're too naive to see it.

[@solstice3410]

Well, I do understand that both parties have pro & cons. That statement is nonsense & I am sure u know it. The Democrats are the party for social welfare for those that have less than “the 99%” & republicans the party of Corporate Welfare given by government bailouts for Companies too big to fail for the people that have more than “the 1%”. So you have to ask yourself which are you? When you can honestly answer that question it could be a pivotal the epiphany moment of self.

[@AChillin01R]

@@JohnDoeUMAL16 Yes to all those questions. See what? AGAIN TRICKLE DOWN ECOMONICS DOES NOT WORK. How many years do we have to keep doing it until we all see it DOES NOT WORK.

[@tomlaureys1734]

Good grief people never learn from the past. French president Francois Holland raised taxes to 70% and all of the wealthy people fled the country. One of the most famous wealthy people who fled was actor Gerard Depardieu. The policy failed and France had to reverse it to entice the capital to come back into the country. If you tax capital gains the people with that Capital will just invest the capital in a different country. When you do that other countries get the capital they need to grow and make their country wealthier while your country loses capital and your country gets poorer. Study history politicians. Stop being so economically ignorant.

[@Arouth249]

Just consider the possibility that it’s all being done on purpose.

[@tobiakilo3413]

I blame the kamala fanatics, just eating up whatever she throws their way without doing any research.

[@blessingknowseverything9609]

I’m saying

[@EO1025]

But when you say TAX the RICH & WEALTHY!! You get votes from clueless people, they do it to get votes.

[@eastcoastgrowshow8495]

This is a great video. Thank you for your input and I whole heartedly agree

[@robertclaro8738]

Gettings a break to start, then getting killed with high taxes after your business is going reminds me of a drug dealer method to get you. "This first one is free, the next one you pay with your life."

[@nickmeeks3061]

Excellent analogy

[@SpokenIntoExistence]

Exactly

[@Smitty556]

Exactly

[@Igniting-Moments]

😅😅😅

[@bobg.3206]

All of her tax proposals will immediately and most deeply affect the working class regardless of income level. Taxing the wealthiest Americans will not even make the interest payment on the national debt, and they will take their money elsewhere. Corporations don't pay taxes-they never have. Those costs are passed along to their customers-the rest of us. Raising taxes on the wealthy and corporations is a way for the government to look good by going after the wealthy while raising taxes on the rest of us without having to publically vote for a tax increase on the working class. We need a government that does less with less. I know I manage my money better than they do, and I don't believe they will pay down a dime of the debt. There will simply be a slew of new social programs and more funding for the ones already in place to keep the right people dependent and voting.

[@michaele1028]

Like Trump tariffs on import goods!

[@Igniting-Moments]

Well said!

[@kimberlybrett354]

So true!

[@cscott5196]

​@@michaele1028lol, if those tariffs were so bad, why hasn't Biden reversed them in the last 4yrs? Biden reversed a bunch of Trump's border policy thru exec orders his very first day in office but he's left the tariffs in place. Guess they're not that bad, eh? 😂

[@VienerSchnitzel69]

That’s why Harris has proposed the unrealized gains taxes AND price ceilings. Corps and CEOs get taxed a bunch more than they have been, and they’re forced to take that decrease in profit by not allowing them to price gouge.

[@owler69]

"It is much more important to kill bad bills than to pass good ones" - Calvin Coolidge.

[@drewmcpheeters3424]

One thing I haven't heard mentioned is if the unrealized capital gains tax takes effect, it could force some of those people to sell of stocks to fund the payment of those taxes. This will likely cause the value of those stocks to fall because whenever you have someone selling of a large amount of stocks, the price falls. This will hurt the other people that own these stocks, including institutional investors.

[@mbhbusiness8778]

We're NOT with her!

[@braydonwirth5487]

She is not with us*

[@yurymta4681]

Trump ❤

[@alanbyrd1940]

Nope, not with her at all

[@alanbyrd1940]

@@Embae92Who takes out a baby at the 9th month? Google “Life Dynamics.” Incredibly disturbing.

[@Tetrahfy]

Why

[@morganlowen5394]

EVERYONE needs to watch this video!! Great job!! I'm sharing this!

[@williamgillion9673]

In the past when this happened, many companies move out of the U.S.

[@cliftonsalaam]

We shouldn't support the companies that would leave!

[@SweepAndZone]

Some things that sound good in your head aren't as smart said out loud, this is one of those times. ​@cliftonsalaam

[@MMT_M1]

@cliftonsalaam lols what do you expect? All businesses are for profit! Taxing them more will hurt their businesses; this is a lose lose situation, since they’ll move it to other countries, invest there more, leading to more layoffs and unemployment.

[@cliftonsalaam]

@MMT_M1 Is it fair that a lot of companies don't pay most of their labor a livable wage? Will a lower tax rate remedy that situation? It is definitely possible, but most companies have been greedy and cannot be trusted to be fully invested in our nation so I say make them pay either through higher wages, job creation or higher taxes! They have choices.

[@THExRIOT1865]

⁠@@cliftonsalaam the companies that will be paying higher taxes will get that money from somewhere. Raising the cost of goods even further.

[@tractordirt]

This is a fantastic video…extremely clear explanation and analysis!

[@jreh3811]

Not voting for Harris.

[@Tetrahfy]

Why

[@nightinxgale7083]

@@Tetrahfy He watched the video lol

[@keepussafeUSA]

Her tax plan fills me with NO Joy! No Joy at all.

[@Sataka23clips]

Vote trump its that simple

[@copascribe7472]

😂

[@johnlewis1383]

Raising corporate taxes means a cost increase to consumers! Corporations are not tax payers they are tax collectors! Any proposed or perceived increase is passed through to the buyers of goods and services.

[@jaydoster4653]

Great video! Everyone in America should see this video.

[@nandishmehta]

On taxing unrealized gains: A potential issue is that even though this might not affect households with income less than $100mn, this tax will trigger sell off affecting 401K and retirement accounts of everyone.

[@wackadoodle4446]

Bingo Bingo Bingo

[@tunkluv]

Yes! This has major trickle down implications...

[@dwight897]

Per a 2022 PEW research study, roughly half of all Americans own no investments in stocks. Furthermore, the top 10% of Americans owns 84% of all stocks. 68% of Americans have no 401(k) or similar method of retirement savings. 35% of working-class Americans don't own a residential property. 77% of American households have at least some type of debt1. The total personal debt in the U.S. is at an all-time high of $17.5 trillion. The average American debt per U.S. adult is $66,7721. The most recent debt payment-to-income ratio is 9.8%, meaning the average American spends nearly 10% of their monthly income on debt payments. taxing unrealized gains or the potential aftereffects won't affect as many Americans as you think.

[@dwight897]

@@markallen4630 No, not when considering of the 50% of all American owning stock, their ownerships collectively translate to 15% of publicly traded stocks. The notion of taxing perceived capital gains simply is not a viable issue for the average American. The vast majority of Americans have no investment portfolio nor retirement investments. 99% will definitely fail to qualify for the proposed $100M trigger. Noting your point, I've personally heard the "This plan de-incentivizes the wealthy to invest" spewed since the Ronald Regan administration in the 1980's, which touted Regan-nomics or trickle-down economics. An economic philosophy that has only succeeded in substantially increasing the wealth. That Being said I do agree with cost reduction, however as we know a successful balanced budget is not exclusively within the power of a sitting president, as the federal budget requires congressional approval. Personally, I would rather a presidential candidate illustrate agenda items within their control vs proposed agenda items contingent upon congressional approval .

[@definitelynotlebronjames443]

@@dwight897​​⁠everyone talking about the capital gains tax being for 100M net worth individuals who owns apartment buildings? What about the company you work for? Grocery companies? Material manufacturers? Etc? High net worth individuals who will pass down this loss to the consumers and employees by decreased wage growth and higher prices.Simple economics

[@perezm714]

What will help reduce the national deficit is LESS GOVERNMENT SPENDING.

[@sitsababasson3130]

Factual

[@NubianGoddess15]

And start with getting the rich to pay their fair share.

[@rayannwashington7568]

​@@NubianGoddess15they pay the vast majority of the tax revenue.

[@cscott5196]

​​@@NubianGoddess15 the top 10% pay more than 75% of all federal taxes. How much exactly is "fair"? 😒 Unbelievable how many people like you believe the wealthy politicians who have been spending trillions upon trillions of our tax dollars on everyone except Americans yet because they tell you it's the "rich guys" fault, you're ready to chase them down with pitchforks. You know who those 10% people are? People who make 140k and above. We don't actually have this huge population of ultra wealthy like they want you to believe. Many of our ultra wealthy are our celebrities and... POLITICIANS! Guess what else? The US charges corporations higher tax rates and individuals much lower tax rates than most other countries, yet people still screaming because instead of just Googling and comparing, they listen to the emotionally driven propaganda from the media and decide they must be mistreated. Educate yourself and stop being a victim.

[@supremecaffeine2633]

​@NubianGoddess15 the top 1% alone pay almost 50% of the taxes.

[@Mytube8I]

I’m voting Trump based on this video. Kamala’s tax plan is absolutely INSANE.

[@danistevenson06]

Thank you! As a new homeowner. I thank you for

[@Sataka23clips]

Thank you man 🎉

[@reggiereg1785]

Can't believe you even considered voting for her after the last 3.5 years of this administration .

[@boxingexpert5427]

​@danistevenson06 Have you guys heard jd vance say we should pay higher prices for good because we're "woke"?

[@petergonzalez5239]

Obama left him with a great economy, and Trump screwed it up, Biden/Harris had to clean Trumps mess.

[@charlesbusch8739]

Does the plan include the expanded standard deduction that ends this year and does it get adjusted for inflation?

[@antilogism]

2025 is the last year of the large standard deduction and it's 2.7% more than this year.

[@mrcadacio]

It’s indeed socialism… 😢

[@loganjeffrey2283]

Worse it’s marxism

[@republicunited2183]

@@loganjeffrey2283 Worse, communism because we're on the path.

[@cscott5196]

Have you heard the lefties screaming at the people who have come here from communist countries & are trying to warn others, only to be told "You have no idea, there's never been a communist or Marxist country in the history of the world!" I'm just over here like 😳 Well played, Dept of "Education". Also, "Unburdened by what has been..' or whatever that word salad is, is actually a popular Marxist incantation used by not only by Marx but also by Mao.

[@RayW....]

​@@loganjeffrey2283communism

[@dominicochoa9925]

​@@loganjeffrey2283 Kinda but not really. Marxism is a social function to prepare the economy for socialism based on increased division among social groups. Marxism is a tool for economics but it isn't an economic policy

[@AnitaAbeyta-v9g]

Voting for Trump! Unrealized tax increase is scary, since we have lived in our home for over 50 years!!! Our home is worth significantly more than we paid for it.

[@wendyhinckly7044]

They want to obliterate generational wealth! They want us owning NOTHING!

[@charlesnoname]

Must be nice to have a home that is worth more than $100 Million!! If you're doing that well, my guess would be you'll be fine.

[@dreadshells5611]

​@@charlesnoname you ain't watch the part where he explains that taxes are hard to repeal and historically only increased in scope until most Americans are taxed. IE income tax.

[@cscott5196]

​@@chadsharpe7213 all by design, the govt has worked for years to undo our Constitution and the protections pur founding fathers had set in place for us. We saved up cash to pay for our land but we'll never truly own it, the govt can take it whenever it wishes.

[@gruenpunkt]

​@@charlesnonameWoohoo-Here’s to 6 Months of Stellar Payment History! We

[@SS-qr5qk]

The BEST video of truth about unrealized gains tax but also the reality that it will apply to everyone someday. Yes, “where is the line?” 👏🏻

[@roadworkahead418]

I have a question about unrealized gains. Can the unrealized gains in a stock portfolio, for example, be used as collateral to take a loan?

[@aleks8675]

Can you imagine paying taxes on unrealized gains, then having to pay a realized gains tax on assets sold in order to pay the tax for the unrealized gains.

[@supernova743]

To pay those unrealized gains taxes youll need to liquidate (or sell) some of your investments

[@bitKitty]

Now that’s a GOTCHA question! 😉

[@adenahsea7340]

It’s a way of legally stealing your money.

[@danv965]

If this video don’t speak to our people then we’ll see them struggling more and more. Good video.

[@CamdenVanderlaan]

Tax laws can be so complex, and it’s super helpful to break them down like this. Understanding how different policies can impact our finances is crucial for making informed decisions.

[@georgei266]

This is like the movie Minority Report. Get arrested for crimes you have yet to commit

[@princeothello5802]

The IMDb is how the Biden-Harris runs the government.

[@TheUnhousedWanderer]

I'm certainly not an economist, but I know human nature. We must concede these points: 1. Capitalism is. It is not going away within one Presidential term. 2. Power and money corrupt. 3. Everyone is capable of greed. If we punish those who employ the poor for being successful, we may unintentionally affect the poor when less jobs are available, or no jobs at all if the company leaves the United States.

[@AChillin01R]

No one is trying to take away Capitalism. You have to admit it has gone way out of control. I have no problem with Rich people. The problem is the tricks they are using to not pay taxes as lower income people have to. That is the problem you just said it. Employ the poor. Anyone being employeed should not be poor. That is teh American dream. Work hard and you can afford a home and the dream. That is not try anymore cause of wages going up at a slower rate than inflation for YEARS not just recently for YEARS. Rich people are making BILLIONS. We need to regulate Captialism. If not it will go way out of hand.

[@alexandrasophia24]

@@AChillin01R crony capitalism is what needs to go. Read the book on Cony Capitalism.

[@Promisent]

@@alexandrasophia24what’re you perpetuating than? Lmao because capitalism is designed for hard workers to earn what they put in for. Many people have become wealthy and became successful from hard work. You think everyone should just be wealthy from a handout? Lmao. 🫠🫠🫠

[@alexandrasophia24]

@@Promisent Wasn't me who stated that. I am for Capitalism not Crony Capitalism. Capitalism is freedom. When did a poor man often a person do a job.

[@AChillin01R]

@@alexandrasophia24 But that is part of what Capitalism is. It is all about profit now matter what you do PROFIT PROFIT. Socialism was created cause of Capitalism. People really forget or not know of this.

[@michaellavigna1356]

Great breakdown. I just don’t get why the media won’t cover her tax plan in depth. Thank you for speaking truth.

[@cscott5196]

Because the media is complicit. If you really want some answers, look into the Smith-Dundt Modernization act that Obama signed Dec 2012. It reversed a previous law that made it illegal to spread propaganda within the US. Some media reported on this when it first happened but very quickly it died down. Propaganda has been legal within the US for more than 12yrs as long as it can be a reasonable expectation that a non-citizen will also see, hear or read it. With today's technology & social media, that makes it legal to spread propaganda through about every news "source". The bill even said who supplies this propaganda: The Secretary of State, who at that time was Hillary Clinton and now: Anthony Blinken. There's so much people don't realize because they never lost their trust in newsmedia.

[@cscott5196]

The media is complicit. If you really want to understand, research the Smith-Dundt Modernization Act of 2012. Obama signed it in Dec 2012 and it reversed a previous law that made propaganda illegal within the US. A couple news stations reported on it when it first happened but the buzz died down very quickly and now the only place you can do any research is within the legalese of the bill itself on our govt websites. Propaganda is now legal within the US as long as there is reasonable expectation that a non-citizen will either read, see, or hear it. With today's media, propaganda is legally spread through news stations, social media, newspapers, etc. The source outlined to supply said "propaganda" = Secretary of State, who at that time was Hillary Clinton and now is Anthony Blinken. It's not by accident or laziness, it's 100% intentional and was planned long ago. People believe media because they're clueless how it stopped being an accurate source of information more than 12yrs ago. Very sad.

[@LegoSciGuy]

I think you did an excellent job explaining the concerns for taxing unrealized gains. Thank you.

[@georgehakimian5949]

I thank this man for his absolutely correct thinking.

[@chellesimmmy2137]

There's no way to be this informed and NOT be totally pissed at that woman's intentions

[@heisenburg2Vj18]

HOW ABOUT WE CUT SPENDING!

[@Bayoucityconstruction]

Too sensible

[@princeothello5802]

U can’t ruin a country by being Fiscally responsible.

[@rayannwashington7568]

Trump tried and dems let the government shut down stone walling.

[@jongress2195]

or giving raises to the laziest group of people in the world - US Congresspeople

[@Squidink96]

First time seeing your channel. First thank you for the informative information. Two, I love that your name is Karlton, it so fits you haha! All love

[@sarahi8455]

I've listened to a few other videos that are similar but I definitely like how you're breaking it down. Thank you for making it relevant to me.

[@adrinetorosyan1909]

She is unbelievable unprofessional and her proposals will make living 10x harder.

[@baxterbrownentertainment]

She wants to make it easier to start a business so she can tax those new businesses at the new corporate tax rate. She's so utterly evil and bad for this country's economy

[@DixonCider1234]

Is the unrealized capital gains tax a one time assessment, or in perpetuity? And then are you taxed on it when you cash out on it?

[@rodneyisaac8668]

Man thank you for this we need to educate people on how money works. If Americans understood how money worked. They would have never voted for Biden and Harris.

[@CarterTrefz]

If you tax unrealized gains, but do not refund unrealized losses, this will create a feedback loop where people will stop putting money into the stock market.

[@Arouth249]

Exactly. The green new deal, the Ukraine war, now this. Everything has been designed to bleed us dry and kill the economy.

[@cscott5196]

Many hedge funds and market whales have already come out to say they'll liquidate everything if Kamala gets in. Which scares me because experience has shown that they'll sell everything before the little guys will be able to get theirs offloaded 😮

[@Tetrahfy]

Who cares???? 🤬Kamala ur next president… deal with it

[@CarterTrefz]

@@Tetrahfy don’t be small minded. If people start pulling out of the stock market, businesses will collapse.

[@CarterTrefz]

@@Tetrahfy you should care for a lot of reasons. But I can see you don’t

[@stevenhill2223]

Anyone who has started a business knows, the most tedious and burdensome challenge is dealing with the government. Anything the government promises requires setting up accounts and online interfaces with websites that are simply horrible to deal with. There is inevitably always a point where you will need to talk to a person to help guide and navigate these very poorly designed websites. It would be helpful to know what Kamala intends to do with the increased revenue produced with these funds. If increased taxation was earmarked for deficit reduction it would mean much more that just another blank check for the government to mismanage.

[@sharonc.2207]

They don't say because it IS designed for mismanagement

[@mydogharlee]

What will it do retirement pension that are in mutual funds (aka stock market).

[@timothyspradlin8433]

So glad someone made this video. I work in Tax and when I heard this... well let's just say I shared his views on this.

[@billsbeardreaction8406]

2:51 that is some nasty work boy to tax someone and something that they might possible make

[@TrishP58]

Thank-you for a simple, clear, explanation of the economic ideas spoken about by VP Harris in recent years. I feel better informed making my choice for president.

[@tricesimo]

"For now, this tax proposal would only apply to families with a net worth above $100 million." So, what new level of bureaucracy would be needed to determine: - What constitutes a 'family'? - What assets are to be considered as part of the net worth? - What debts are to be considered as part of the net worth? - Who will be valuing assets that don't have a liquid market value, such as pieces of art, automobiles, etc.?

[@godisgood789]

I think this answered the begging question? WHO WON THE DEBATE! It definitely was not Kamalla

[@allenchu4326]

Media is so biased . They are horrible

[@47shadows76]

No, it was. Trump got played and allowed the failing Democrats to look rational.

[@cscott5196]

​@@47shadows76 eh, Trump didn't do as well as he usually does but it was absolutely clear that it was 3 vs 1 and had been setup in advance against Trump. If you've been following politics at all, you would've caught a number of very obvious lies from Kamala, including the inaccurate "fact-check" from the moderators against Trump. I wasn't surprised in the least when the ABC whistle-blower came out with her affidavit claiming the debate was rigged. My only response was "ya, duh".

[@cscott5196]

​@@47shadows76 Eh, Trump didn't do as well as he normally does but I don't believe any of us were surprised a few days later when the whistle-blower from ABC released her affidavit claiming the debate had been rigged against Trump. If you'd been following politics at all, it was very noticeable when Harris lied or avoided answering.

[@Lisa-my5sy]

She didn’t win, trump lost it

[@hahahehe5771]

Definitely voting for Trump 2024. MAGA

[@torsten6777]

His next tax cuts will make our country bankrupt, that’s for sure.

[@allenchu4326]

Im voting too. Hope he wins

[@DeloresMcBride-uw7pb]

​@@allenchu4326Me, Three! She's a wolf 🐺 in sheep's clothing

[@larryjergeod8301]

She's middle class, he's "rich", who supports most citizens? Harris!!!!!!!!

[@BrandonCRFC]

@@larryjergeod8301 as she debates in Hermes belts and Tiffany earrings. lol just a different level of rich because she isnt as talented as he is. Envy is a cancer

[@ProdigyMan88]

So how often do you pay 25% unrealised gains tax if you keep your stocks for a few years? Every year?