• 2 Posts
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Joined 1 year ago
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Cake day: July 1st, 2023

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  • I didn’t see a question in your original comment but I can answer a bit.

    A lot has been said about the proposal to tax unrealized gains. One of the issues is that this is how the super wealthy are able to keep their taxes low. A not insignificant amount of their wealth is tied up in the stock market. This sits as an unrealized gain(or loss) but, because of the large amount of their holdings, they can take out loans using it as collateral at near 0% interest. This loan is tax free, and reduces their tax burden at the same time. Closing this loophole for them is a big one. Why do you think the majority of the compensation C Suite executives are given is in stocks? It’s for this very reason.

    Now the backlash on the proposal to tax unrealized gains is fair when you look at what is considered unrealized gains. With inflation, house values are generally always going up. That increase IS an unrealized gain. And don’t be mistaken, the fact that we accept 2% as a general year-over-year inflation number means that inflation is an accepted financial policy of the United States.

    That’s why the proposal to tax unrealized gains starts at an already high number. I think it was in the $400,000 range, but I am not certain.

    Piggy backing off of this, a lot of the super wealthy bury their money into real estate. The idea of increasing real estate taxes on purchases based on the amount of home(s) you have has been circling around. I like the idea.

    Closing the loopholes surrounding Private Foundations that they start up is another. Here’s an article that best articulates what’s wrong with these. https://www.propublica.org/article/how-private-nonprofits-ultrawealthy-tax-deductions-museums-foundation-art

    Finally, we need an IRS that is funded and staffed appropriately, and to actually ENFORCE the tax code.


  • One of the biggest budget issues with the F35 program is that maintenance and repairs must go through private industry. Corporations just continuing to milk profit at every level. https://www.defensenews.com/air/2023/09/22/gao-blasts-contractor-led-f-35-maintenance-as-costly-slow/

    There was the semi-recent report following the plane disappearance in the Carolinas that pointed to the battle readiness of the F35 program being lower than is acceptable (don’t remember the percentage thrown out there), and a lot of that is due to the corporate side of the deal. Parts are not readily available when needed, repairs are going slower than we are used to, and this is on top of using newer technologies in an effort to PREDICT future conflicts.

    I hope we have learned our lessons from the F22 and F35 programs. New tank designs for the successor to the M1A2 Abrams are popping up. We cannot allow future programs to continue to favor corporate profits to these levels.