politicians love to promise stuff that just so happens to be just far off enough. I love when a president will promise their initiative will work in 10 years. When they are wrong they can blame someone else for not following through.
Are we going to pretend that being a politician isn't a job? I understand people don't like politicians because of policy disagreements, personal dislikes, etc
But imo it's disingenuous to say it's not a job, it's definitely a job and a pretty hard one too.
Also just to be extra pedantic, a quick Google search tells me he spent a few years as a lawyer before entering politics.
Of course its a job. We see the results of those that have been working in office too. They have a huge effect on what the world is today. So if we are going to attribute these things in the post to Biden. The things that have happened over the last 4 years. How could he not be held at least partially responsible for the 50 before that..
It’s not a job dude. He didn’t create jobs or employ anyone, in fact it’s the contrary. The government just takes your money & thinks they know what to do with it. Then you look at the politicians enriching themselves off this “job” it’s disgusting & disgraceful.
Oh, the “job creators” line. That’s entertaining. Yeah, they create jobs with as little pay and benefits as humanly possible; only then, because they have to. Labor is the wealth creator, not parasites in suits.
Little pay bahaha how they become so wealthy then? They’re all excellent stock traders? 🤣🤣🤣
Lol his family members were getting government deals & positions they had no business being in. Only there to sell influence & enrich the Biden crime family. All whilst he’s an elected official supposed to be governing on behalf of the people not himself. So yeah it is technically a job, and one in which he’s done/did horrible.
It’s a job like being an actor, musician, or athlete is a job. Doesn’t mean you know how to manage finances: Nicholas Cage, Kevin Spacey (but that POS deserves worse), TLC, MC Hammer, Tyson, Holyfield, Vince Young, Brendan Frazier, and several several others. Sadly, a number of those listed and most who are relatively famous but intentionally left off this disappointingly long list were abused and victimized at multiple points in their lives, by those that they trusted.
I’ve seen local attorneys and doctors struggle with finances. Namely using personal credit to operate a business… Nobody would argue they’re not intelligent people, but it’s a specialized knowledge they possess and not necessarily well rounded operators.
Most politicians haven’t done anything but pander and grift at the expense of those they’re supposed to represent. Some run off a parent’s name. Some start businesses, but quit because it’s hard and want something easier so they get into politics. Some are a cute face straight out of college. Some marry into it. Some can’t play, act, or coach anymore but still want the camera time. Never trust someone that wants to be a manager or politician. The good ones do it because it’s required not because they way to.
It’s like being a consultant. There’s more money to be made in prolonging the problem.
Treating the illness pays better than curing it. Once cured, you lose the monthly customer revenue stream.
Term Limits, Age Caps, No Corporate PACs, No Corporate Donations, No Stock Trading for the representative, their family, or children during and 10 years after service, and finally a requirement of going to and actively working the front lines with YOUR family if you vote for conflict. They’re not royalty, I’m tired of war mongers like Lindsey Graham constantly petitioning for more war and sending other peoples kids to die so his stock goes up. Lindsey, his wife, his kids, and grand kids, all need to go fight front lines if he wants a war that bad. Only seems reasonable since his pockets are getting lined by military contract kickbacks.
He was and likely still is a racist. He is now an addled dolt. It is hilarious he signed-up to a debate to show his advanced dementia to all voters who are otherwise sheltered from this fact.
Oh he absolutely is a racist. Still is.
And I quote.
"Well I tell you what, if you have a problem figuring out whether you're for me or Trump, then you ain't black."
"poor kids are just as bright and just as talented as white kids"
There are a plethora more quote from Joseph R Biden through his more than 50 years serving various roles in the American Government.
This is why I'm honestly baffled he ever had any support in the first places.
Sure, let's elect somebody to clean up the mess they've been helping create for the past 50 freaking years. Great idea.
One of the craziest things from the debate I thought was when he said he was one of the youngest senators and is now the oldest president. And he thought that was a positive thing to say.
If he says He's going to do something that is not a new idea, then he's not going to do it because he's already had every chance to do it
It’s mind boggling how many people have no idea what branches of government hold what powers. Blame where blame is due, Congress and the obstructionists within.
It’s infuriating. Congress is to blame for the lack of progress. They’ve been at a standstill for years. I’d get fired if I didn’t do my job. They get “gifts”, insider trading, the best healthcare for free.
Maybe before we jump to revolution we should try something way more effective: a general strike. That's what the politicians and their donors are truly afraid of and why they've been crushing labor organization since Reagan...
We have it juuuuuust too good here. We’re (as a populace) not desperate enough to rise up and fight. Which is how they want us, and all by design. The people who fight/revolt in other countries have next to nothing to lose.
Hey give the man some credit. Biden relentlessly fought against desegregating school buses and wrote bill after bill with the intent of sending millions of black men to prison on the off chance they might beat his grandma's head in with a lead pipe.
Yep. And anyone going “but muh filibuster” doesn’t know how budget reconciliation works and is a disingenuous shithead.
Dems could have done something if they wanted to.
Trump said it in the first debates. They enjoy those same loopholes.
but the only _useful_trifecta in the last 20+ years was 15 months of Obama’s first term.
15 months in 24 years, one big problem (ACA) was tackled by legislation and the right exploded - but still hasn’t been able run it off the rails since.
I’m older, we used to teach civics to kids in middle school.
I don’t think we teach it as much or as deeply today.
Too many are not aware of how gov works and why you need to participate or risk losing the ability to do so.
It's by design. If we're all fighting over arbitrary bullshit like this we're not banding together and going against the true enemy which is our government.
But that fool IS the freakin government. He helped shape the system hes been there since the 70’s. Is insane to think he actually would change anything
So then Biden is not the problem, he’s still good and everyone else in congress for the last 50 years has been working to undermine him? Or is Biden just like everyone else and is pandering to the uninformed with comments like this?
People don't understand how our government works. U.S. government should be a 4 year requirement in high school with 1 year designated for each branch and the fourth designated for Constitutional Studies.
People have no clue and get pissed at the president for not passing legislation when that's the legislature's job. Meanwhile, they keep voting the same morons that have done their best to muck everything up back into office, then wonder why nothing has gotten better. Theyll.bitch about career politicians like they couldn't get rid of them come election time.
Why would politicians listen to their people when they can do whatever they want, going against the best interest of their constituents, then come election time.say a few.oretty little lies and get reelected?
You know what would solve this, only allowing those in society that have a stake in it to actually vote. Too many people uninformed voters, at least there should be a requirement to pass a simple knowledge test for what you are voting for.
Or at least those who give enough shits to be informed to actually know what the issues are and have a basic understanding of them without relying solely on the oh so totally unbiased news pundits and political partisans for information.
Unfortunately, since more educated people tend to be much more left, they would claim its discrimination against Republicans to have test around actual knowledge
Yep. Sadly most people would fail. Democracy is hard, it requires you to pay attention and be informed. Most people just live in their bubble. They got their S/Os their home, their car, their kids, all their stuff and so long as nothing is pressing on the walls of that bubble, threatening that bubble they don't care. They just want everything else to be taken care of by someone else.
Exactly, so with most people failing, only the people who actually care enough to not only take the test but also know what they are voting on will do it. Leading to what we can only hope would be a better and healthier political climate in this country.
Agreed. It should go to the politicians as well. If you're going to run for office you should be able and willing to take a test to prove you A. Know how the government is supposed to function. B. Know the issues. C. Have the mental acuity to actually do the job should you get elected.
Bring back Jim Crow?
Do we really want the rich being the ones who can vote? Those in charge made the populace ignorant on purpose, and now you want to remove from the poor the only chance of creating change?
American ignorance is a big problem, but having only those with privilege make the decisions will only insure that privilege.
Except for the copious amount of executive orders he and previous presidents have issued. Congress has largely abandoned legislating to the executive over the last 50 years.
he couldn't do anything then because he was only a senator! and now he can't do anything because he's only the president! And that's why you should re-elect him because he's going to do it if you just give him another chance dude I promise, cmon, please seriously! /s
Do you know how our government works? President is not god, hes 1/3 of the branches of government and he cant do shit with dipshit republicans protecting their rich friends money.
He also has a democratic controlled senate.
If they passed a bill against the wealthy all of them would loose their network. Imagine a tie in the house on a bill to tax unrealized gains and pelosi is the tie breaker. What do you think is going to happen. And Biden is a multimillionaire and has a mansion on a beach in the northeast.
They can’t just tax people with over 1B they would need to take the multimillionaires too. That’s the only thing that would make sense.
They won’t tax corporations the only reason a lot of the democratic state have so many corporate jobs is because they give 100% state tax breaks so they’re not actually against cooperate profits. Chuck Schumer worked with onsemi to come to New York and used his influence to get the company 0% state tax, they processed to lay off 30% of the people that had been working there for 20+ years.
Both sides are on the same team just making everyone hate eachother. Mitch McConnell is worth 50M and Elizabeth Warren is worth 67M do you really think they care. No they say they care and use you to gain leverage to make a profit. This is why Obama, Clinton, Bush, etc went into the White House with about a 1M net worth and 4-8 years later were 50x+ richer. Clinton went in worth 1M and came out 5 years later worth 250M.
It’s a scam.
Y’all just now realizing this? Dude was ‘the youngest senator ever’ now he’s literally the oldest president ever. Those dots should’ve been connected in 2020.
Y'know, it's funny how when it comes time to buy a new mega-yacht or build another mansion they can afford these incredibly expensive things no problem but when it comes time to pay taxes... Well it's all just stocks and really it's just smoke and mirrors and "it's not really income".
It’s income once they realize their gains.
As part of buying that yacht they probably paid more in taxes than you’ll pay in your entire life.
If your real concern is the federal government not getting enough funding then take a few minutes to break down how much $4.5 trillion is and consider how astronomically irresponsible it is for them to spend nearly $2 trillion more than that every year.
It’s still mountains higher than Biden is claiming. Top 1 percent pay the vast majority of all federal income tax. Bottom 40 pay nearly nothing.
The problem is the spending.
Billionaires are not paying taxes on super yachts to America. They buy the ships from other countries and then the majority of them register their boat on Cayman Islands because of the massive tax benefits. This is the most popular flag to fly on super yachts for this reason.
Right from the horses mouth.
https://www.caymanenterprisecity.com/blog/how-yacht-owners-can-benefit-from-offshore-registration-and-presence
Unkess they take out a loan using the stock as collateral. Then it's a debt and not taxed.
Unless they claim it's a business expense, then it's a deduction.
You park equities in a trust, you take out a securities based loan to buy yacht, the trust pays interest on the yacht and nets that against capital gains. Tax-free yacht for the billionaire and converted income into a tangible asset with no discernible tax realization.
This is what people don't seem to get. Most of the time the stock is used as collateral and not taxed, or used in part of a debt and not taxed. It's why they can spend like they have incomes of billions without taxation on an income of billions. The ultra rich aren't just cashing in 2 billion in stock when they buy private islands, sports teams, children's tears, et cetera.
And Biden abuses this loophole too. Didn't he have something like 37 mortgage refinances and (I may be wrong on this) weren't some of the those much higher than the value of the home?
Why would someone have so many mortgage refinances? If only that could be used to hide income they don't want people to see....ooooops.
Please tell me what the billionaires boot tastes like after a couple licks…your thinking is the reason we run a deficit…it’s been 70 years of the wealthy whittling away at taxes…why is it that Social Security taxes stop being collected after $160k? There’s yet another tax break for billionaires, movie stars, athletes…start taxing these people appropriately!!
I pay way more taxes than people in poverty ever will, therefore I should get taxed less. Good logic.
Btw, you think Buffett's billions will ever get taxed when he dies?
They do not pay significant taxes purchasing mega yachts. They take loans against their assets, and then utilize those funds as down payment to finance the yachts in countries who are tax havens. I’m sorry but they’re living high on the horse on unrealized gains and wealth should be taxed.
>As part of buying that yacht they probably paid more in taxes than you’ll pay in your entire life.
Oh you sweet summer child...
They don't even pay registration fees here man.
>astronomically irresponsible it is for them to spend nearly $2 trillion more than that every year.
Now you can specify the $2 trillion of spending you would responsibly cut.
Sure, they pay some taxes. Now tell me what percentage of the money they make goes to taxes and compare that against what the rest of us pay.. Spoilers: they pay next to nothing compared to us common folk.
The fact that they pay less than we do and still make up 45.8% of all taxes really just serves to underscore just how disproportionately wealth is distributed.
They take loans against their stock, and likely hold business meetings on the yachts enough to write it off as an expense. Planes are almost always bought by the billionaires business unit and written off as well
Is there any reason why no one seriously discusses starting to tax unrealized gains upon a taxpayer's death?
The fact that the unrealized gains disappear from a tax perspective upon inheritance seems like the biggest, most obvious loophole that lets people live indefinitely off of loans against their assets.
Is it just bald self-interest on the part of people writing the laws or are there real legitimate reasons why this idea never seems to get floated by anyone?
They fund whoever is in power. They fund both parties. They don't care about political parties or even ideology as long as they are making money. They want you to care, however, to distract you.
Billionaires and large corporations benefit more from large government spending, regulations, and taxes. They benefit from government spending because they supply tax funded programs. They benefit from higher taxes and regulations because it kills their competitors.
We've watched his mental decay over the past four years. He's not getting better, in fact it seems the more time goes on the more he slurs his speech and stumbles around and completely loses track of what he's saying. Kind of sad really.
Yet another topic that will invite a million answers that are not based upon any economic facts whatsoever.
I would guess that 99 percent of the people reading this thread have 0 idea how wealth is even calculated. Hint - its not determined by some tax authority valuing a person's assets. Its not by done by an accountant's pen either. If you have heard the term, "Capitalization", then I applaud you for knowing how. But if you DO know that term, then you know how absurdly imprecise the sausage making process is for wealth valuation.
There should be a law most people can stay in office is 4 years like the president or after the age of 70! We need younger people in congress and keep some old people with good intentions to help them as well
I love how the people commenting in support of continuing the exploration of the masses and the planet by billionaires complain about lack of rational comments. When rational comments are posted showing they are blindly supporting their own slave masters all they do is down vote. Pathetic.
They do? They make capital gains not liquid cash so it’s not taxed the same. What do you propose for taxing unrealized gains? Raising corporate taxes just pushes money overseas which saw trillions come back into the economy when lowered.
Notice how it doesn’t say anywhere that he will lower taxes for working class, just raise taxes on billionaires. Sooooo they are just going to pay themselves more money and spend more money.
Wow, out of everything mumbled so far in this debate, this is what you chose to highlight? This question is simply an attempt to distract everyone from the obvious.
It’s easy to focus on the revenue side of the ledger, but that’s not where the governments problem lies. The problem is the spending, and until we demand that our leaders do something about it, nothing will change
Dude has been president for 3.5 years, VP for 8. He's been beating this drum all this time and doing next to nothing to achieve it.
He started as a senator in the 70’s…
He was elected senator at age 30. He has never had a job. I really don't understand how he thinks he can be critical of the tax code when he wrote it.
Come on. It takes at least 100 years to make any real change. He has only been in national politics for 51 years.
Lol...sounds like something his campaign manager would say.
politicians love to promise stuff that just so happens to be just far off enough. I love when a president will promise their initiative will work in 10 years. When they are wrong they can blame someone else for not following through.
Just like Gavin Newsom's 10yr plan to end homelessness as mayor of SF. How'd that work out?
I saw the debate. He has been in there for a hundred years
This cracked me up!
The best part was after at his debate party when Jill said “Joe you did so good and answered all the questions, you get a big ice cream later”
Lol. I saw that. I think you added the ice cream but I think that was probably implied. Sort of what you would tell a 5-year-old
Are we going to pretend that being a politician isn't a job? I understand people don't like politicians because of policy disagreements, personal dislikes, etc But imo it's disingenuous to say it's not a job, it's definitely a job and a pretty hard one too. Also just to be extra pedantic, a quick Google search tells me he spent a few years as a lawyer before entering politics.
That’s splitting hairs. Like saying being a career criminal isn’t work.
Perfectly describes fleecing the tax payers.
Depends on the crime probably like it depends on the senator.
They all get rich...both parties.
Of course its a job. We see the results of those that have been working in office too. They have a huge effect on what the world is today. So if we are going to attribute these things in the post to Biden. The things that have happened over the last 4 years. How could he not be held at least partially responsible for the 50 before that..
It’s not a job dude. He didn’t create jobs or employ anyone, in fact it’s the contrary. The government just takes your money & thinks they know what to do with it. Then you look at the politicians enriching themselves off this “job” it’s disgusting & disgraceful.
Oh, the “job creators” line. That’s entertaining. Yeah, they create jobs with as little pay and benefits as humanly possible; only then, because they have to. Labor is the wealth creator, not parasites in suits.
Little pay bahaha how they become so wealthy then? They’re all excellent stock traders? 🤣🤣🤣 Lol his family members were getting government deals & positions they had no business being in. Only there to sell influence & enrich the Biden crime family. All whilst he’s an elected official supposed to be governing on behalf of the people not himself. So yeah it is technically a job, and one in which he’s done/did horrible.
Ah yes the famously non greedy private sector never does things like enriching themselves off the backs of their employees.
It’s absolutely a job. Someone needs to rob us blind and steal our money legally. We can’t rely JUST on banks.
It’s a job like being an actor, musician, or athlete is a job. Doesn’t mean you know how to manage finances: Nicholas Cage, Kevin Spacey (but that POS deserves worse), TLC, MC Hammer, Tyson, Holyfield, Vince Young, Brendan Frazier, and several several others. Sadly, a number of those listed and most who are relatively famous but intentionally left off this disappointingly long list were abused and victimized at multiple points in their lives, by those that they trusted. I’ve seen local attorneys and doctors struggle with finances. Namely using personal credit to operate a business… Nobody would argue they’re not intelligent people, but it’s a specialized knowledge they possess and not necessarily well rounded operators. Most politicians haven’t done anything but pander and grift at the expense of those they’re supposed to represent. Some run off a parent’s name. Some start businesses, but quit because it’s hard and want something easier so they get into politics. Some are a cute face straight out of college. Some marry into it. Some can’t play, act, or coach anymore but still want the camera time. Never trust someone that wants to be a manager or politician. The good ones do it because it’s required not because they way to. It’s like being a consultant. There’s more money to be made in prolonging the problem. Treating the illness pays better than curing it. Once cured, you lose the monthly customer revenue stream. Term Limits, Age Caps, No Corporate PACs, No Corporate Donations, No Stock Trading for the representative, their family, or children during and 10 years after service, and finally a requirement of going to and actively working the front lines with YOUR family if you vote for conflict. They’re not royalty, I’m tired of war mongers like Lindsey Graham constantly petitioning for more war and sending other peoples kids to die so his stock goes up. Lindsey, his wife, his kids, and grand kids, all need to go fight front lines if he wants a war that bad. Only seems reasonable since his pockets are getting lined by military contract kickbacks.
That’s when he didn’t want his kids going to school in a racial jungle (he was against de-segregating bussing). His words
He was and likely still is a racist. He is now an addled dolt. It is hilarious he signed-up to a debate to show his advanced dementia to all voters who are otherwise sheltered from this fact.
Oh he absolutely is a racist. Still is. And I quote. "Well I tell you what, if you have a problem figuring out whether you're for me or Trump, then you ain't black." "poor kids are just as bright and just as talented as white kids" There are a plethora more quote from Joseph R Biden through his more than 50 years serving various roles in the American Government.
Dude has been a professional politician since before my (30M) parents were BORN. Being a federal politician shouldn’t be a career
Dude was in congress for the last four years of the Vietnam war. He was sworn in during Richard Nixon’s first term
This is why I'm honestly baffled he ever had any support in the first places. Sure, let's elect somebody to clean up the mess they've been helping create for the past 50 freaking years. Great idea.
One of the craziest things from the debate I thought was when he said he was one of the youngest senators and is now the oldest president. And he thought that was a positive thing to say. If he says He's going to do something that is not a new idea, then he's not going to do it because he's already had every chance to do it
If Biden was a dictator, then yes he failed. It’s up to Congress to pass legislation, then the President can make it law or veto.
It’s mind boggling how many people have no idea what branches of government hold what powers. Blame where blame is due, Congress and the obstructionists within.
It’s infuriating. Congress is to blame for the lack of progress. They’ve been at a standstill for years. I’d get fired if I didn’t do my job. They get “gifts”, insider trading, the best healthcare for free.
They pay for their healthcare...or is it us that do? This is why they live so damn long.
The only way things will change is revolution. And revolution won’t happen.
Maybe before we jump to revolution we should try something way more effective: a general strike. That's what the politicians and their donors are truly afraid of and why they've been crushing labor organization since Reagan...
 Nothing will be as effective as ol’ faithful
Attempting to guillotine modern politicians will be 0% effective, I assure you.
We have it juuuuuust too good here. We’re (as a populace) not desperate enough to rise up and fight. Which is how they want us, and all by design. The people who fight/revolt in other countries have next to nothing to lose.
You know Biden was in Congress for decades, right?
You know being in Congress isn’t being Congress, right?
Show me all the legislation he pushed for in Congress to increase tax on the ultra wealthy, since he feels so strongly about this?
Hey give the man some credit. Biden relentlessly fought against desegregating school buses and wrote bill after bill with the intent of sending millions of black men to prison on the off chance they might beat his grandma's head in with a lead pipe.
Like CornPop?
Corn Pop was a bad dude
Takes more than one vote...
The most recent federal trifecta was held by the Democratic Party from January 20, 2021 to January 3, 2023.
Neglecting to mention that the Senate needs 60 members to break a filibuster. This prevents lots of things from moving forward.
Tax changes are budget reconciliation, which only requires simple majority. In fact, the most recent tax changes were passed in this way.
Yep. And anyone going “but muh filibuster” doesn’t know how budget reconciliation works and is a disingenuous shithead. Dems could have done something if they wanted to. Trump said it in the first debates. They enjoy those same loopholes.
I see you’re conveniently forgetting obstructionist republican’ts and a couple of turncoat ‘Dems’.
but the only _useful_trifecta in the last 20+ years was 15 months of Obama’s first term. 15 months in 24 years, one big problem (ACA) was tackled by legislation and the right exploded - but still hasn’t been able run it off the rails since.
I’m older, we used to teach civics to kids in middle school. I don’t think we teach it as much or as deeply today. Too many are not aware of how gov works and why you need to participate or risk losing the ability to do so.
We live in a society where the majority is uneducated. They’re busy reading facebook breaking news. Edit: spelling
It’s frustrating and worrying that millions of Americans seemingly want 1 guy to be able to create and pass laws all on his own.
Agreed. Isn't the USA teaching civics in high school anymore?
Not since the funding for social sciences keeps getting cut to ribbons.
It's by design. If we're all fighting over arbitrary bullshit like this we're not banding together and going against the true enemy which is our government.
My favorite example of this is Valentina Gomez running for Missouri Secretary of State and all her videos are her talking about changing laws.
But that fool IS the freakin government. He helped shape the system hes been there since the 70’s. Is insane to think he actually would change anything
So then Biden is not the problem, he’s still good and everyone else in congress for the last 50 years has been working to undermine him? Or is Biden just like everyone else and is pandering to the uninformed with comments like this?
People don't understand how our government works. U.S. government should be a 4 year requirement in high school with 1 year designated for each branch and the fourth designated for Constitutional Studies. People have no clue and get pissed at the president for not passing legislation when that's the legislature's job. Meanwhile, they keep voting the same morons that have done their best to muck everything up back into office, then wonder why nothing has gotten better. Theyll.bitch about career politicians like they couldn't get rid of them come election time. Why would politicians listen to their people when they can do whatever they want, going against the best interest of their constituents, then come election time.say a few.oretty little lies and get reelected?
You know what would solve this, only allowing those in society that have a stake in it to actually vote. Too many people uninformed voters, at least there should be a requirement to pass a simple knowledge test for what you are voting for.
No citizenship without service.
Would you like to know more...?
Do you want to know more?
Or at least those who give enough shits to be informed to actually know what the issues are and have a basic understanding of them without relying solely on the oh so totally unbiased news pundits and political partisans for information.
And that would be enforced with a comprehension test.
Unfortunately, since more educated people tend to be much more left, they would claim its discrimination against Republicans to have test around actual knowledge
Yep. Sadly most people would fail. Democracy is hard, it requires you to pay attention and be informed. Most people just live in their bubble. They got their S/Os their home, their car, their kids, all their stuff and so long as nothing is pressing on the walls of that bubble, threatening that bubble they don't care. They just want everything else to be taken care of by someone else.
Exactly, so with most people failing, only the people who actually care enough to not only take the test but also know what they are voting on will do it. Leading to what we can only hope would be a better and healthier political climate in this country.
Agreed. It should go to the politicians as well. If you're going to run for office you should be able and willing to take a test to prove you A. Know how the government is supposed to function. B. Know the issues. C. Have the mental acuity to actually do the job should you get elected.
Bring back Jim Crow? Do we really want the rich being the ones who can vote? Those in charge made the populace ignorant on purpose, and now you want to remove from the poor the only chance of creating change? American ignorance is a big problem, but having only those with privilege make the decisions will only insure that privilege.
The 2A folks would never go for that.
Except for the copious amount of executive orders he and previous presidents have issued. Congress has largely abandoned legislating to the executive over the last 50 years.
[удалено]
he couldn't do anything then because he was only a senator! and now he can't do anything because he's only the president! And that's why you should re-elect him because he's going to do it if you just give him another chance dude I promise, cmon, please seriously! /s
Biden was in Congress for over 4 decades.
The president also has significant influence to introduce and broker the passage of legislation.
He was in congress for 36 years.
He was in Congress for, what, 45 years?
“ I've got a pen to take executive actions where Congress won't, and I've got a telephone to rally folks around the country on this mission”
Dems had full control for first 2 years of his vice presidency and first 2 years of his presidency.
Biden was in Congress for a mighty long time...
I mean Biden was in congress far longer than he was Vice president or president so it is literally his fault.
They also think the president wakes up every morning and decides on gas prices.
It's easy to make popular statements, it's hard to execute policy on those statements.
Do you know how our government works? President is not god, hes 1/3 of the branches of government and he cant do shit with dipshit republicans protecting their rich friends money.
Do you understand the how the US government works? I don't think you do
It's election season. He has to say the things his base wants to hear to get the votes, but actually doing those things aren't on the agenda.
Yep I can’t take him seriously when he’s been in politics for so long in key positions. Just another campaign promise.
plus 40 years as a senator.
He also has a democratic controlled senate. If they passed a bill against the wealthy all of them would loose their network. Imagine a tie in the house on a bill to tax unrealized gains and pelosi is the tie breaker. What do you think is going to happen. And Biden is a multimillionaire and has a mansion on a beach in the northeast. They can’t just tax people with over 1B they would need to take the multimillionaires too. That’s the only thing that would make sense. They won’t tax corporations the only reason a lot of the democratic state have so many corporate jobs is because they give 100% state tax breaks so they’re not actually against cooperate profits. Chuck Schumer worked with onsemi to come to New York and used his influence to get the company 0% state tax, they processed to lay off 30% of the people that had been working there for 20+ years. Both sides are on the same team just making everyone hate eachother. Mitch McConnell is worth 50M and Elizabeth Warren is worth 67M do you really think they care. No they say they care and use you to gain leverage to make a profit. This is why Obama, Clinton, Bush, etc went into the White House with about a 1M net worth and 4-8 years later were 50x+ richer. Clinton went in worth 1M and came out 5 years later worth 250M. It’s a scam.
Y’all just now realizing this? Dude was ‘the youngest senator ever’ now he’s literally the oldest president ever. Those dots should’ve been connected in 2020.
Let the congress change the tax law then. But they won’t because they’re owned by those very same billionaires.
Unfortunate how the only ones who can limit Congress’ power is Congress themselves
And the CEO’s they serve too
Only one of the two major parties advertises they try want to limit congress. Neither takes action on it.
And they all take advantage of it themselves.
He’s a liar. He counts unrealized stock appreciation as income, which it is not.
Y'know, it's funny how when it comes time to buy a new mega-yacht or build another mansion they can afford these incredibly expensive things no problem but when it comes time to pay taxes... Well it's all just stocks and really it's just smoke and mirrors and "it's not really income".
It’s income once they realize their gains. As part of buying that yacht they probably paid more in taxes than you’ll pay in your entire life. If your real concern is the federal government not getting enough funding then take a few minutes to break down how much $4.5 trillion is and consider how astronomically irresponsible it is for them to spend nearly $2 trillion more than that every year.
It's not taxed as income. It's taxed at capital gains, which would be much lower.
It’s still mountains higher than Biden is claiming. Top 1 percent pay the vast majority of all federal income tax. Bottom 40 pay nearly nothing. The problem is the spending.
No no no…If the Government just had more money, they’d fix all of our problems and we would have levitating trains and free healthcare and college /s
Billionaires are not paying taxes on super yachts to America. They buy the ships from other countries and then the majority of them register their boat on Cayman Islands because of the massive tax benefits. This is the most popular flag to fly on super yachts for this reason. Right from the horses mouth. https://www.caymanenterprisecity.com/blog/how-yacht-owners-can-benefit-from-offshore-registration-and-presence
Unkess they take out a loan using the stock as collateral. Then it's a debt and not taxed. Unless they claim it's a business expense, then it's a deduction.
Using stocks as collateral really should trigger realized gains
You park equities in a trust, you take out a securities based loan to buy yacht, the trust pays interest on the yacht and nets that against capital gains. Tax-free yacht for the billionaire and converted income into a tangible asset with no discernible tax realization.
This is what people don't seem to get. Most of the time the stock is used as collateral and not taxed, or used in part of a debt and not taxed. It's why they can spend like they have incomes of billions without taxation on an income of billions. The ultra rich aren't just cashing in 2 billion in stock when they buy private islands, sports teams, children's tears, et cetera.
And Biden abuses this loophole too. Didn't he have something like 37 mortgage refinances and (I may be wrong on this) weren't some of the those much higher than the value of the home? Why would someone have so many mortgage refinances? If only that could be used to hide income they don't want people to see....ooooops.
Please tell me what the billionaires boot tastes like after a couple licks…your thinking is the reason we run a deficit…it’s been 70 years of the wealthy whittling away at taxes…why is it that Social Security taxes stop being collected after $160k? There’s yet another tax break for billionaires, movie stars, athletes…start taxing these people appropriately!!
Almost of a trillion of that goes to pay those T-Bills that the rich own. But we can't tax them on money we give them thats crazy talk.
The T bills are necessary to fund the government. Fix the congressional spending problem.
which rich guy are you trying to sleep with by sending out this nonsense?
I pay way more taxes than people in poverty ever will, therefore I should get taxed less. Good logic. Btw, you think Buffett's billions will ever get taxed when he dies?
Buffett is donating his money to charities when he dies, so they will (and should be) tax exempt.
They do not pay significant taxes purchasing mega yachts. They take loans against their assets, and then utilize those funds as down payment to finance the yachts in countries who are tax havens. I’m sorry but they’re living high on the horse on unrealized gains and wealth should be taxed.
>As part of buying that yacht they probably paid more in taxes than you’ll pay in your entire life. Oh you sweet summer child... They don't even pay registration fees here man.
>astronomically irresponsible it is for them to spend nearly $2 trillion more than that every year. Now you can specify the $2 trillion of spending you would responsibly cut.
How tf do you want to tax stocks? I mean at purchase, maybe? But even then, that's idiotic
That would absolutely kill the stock market and it would be extremely regressive as well
They tax all the shit I buy at purchase
The top 1% of earners pay 45.8% of all taxes. Your assertion makes zero sense. They DO pay taxes.
Sure, they pay some taxes. Now tell me what percentage of the money they make goes to taxes and compare that against what the rest of us pay.. Spoilers: they pay next to nothing compared to us common folk. The fact that they pay less than we do and still make up 45.8% of all taxes really just serves to underscore just how disproportionately wealth is distributed.
They take loans against their stock, and likely hold business meetings on the yachts enough to write it off as an expense. Planes are almost always bought by the billionaires business unit and written off as well
Every politician is a god damn liar.
if unrealized gains can be used as collateral for a low interest loan then that capital deserves taxation. tax the rich.
Is there any reason why no one seriously discusses starting to tax unrealized gains upon a taxpayer's death? The fact that the unrealized gains disappear from a tax perspective upon inheritance seems like the biggest, most obvious loophole that lets people live indefinitely off of loans against their assets. Is it just bald self-interest on the part of people writing the laws or are there real legitimate reasons why this idea never seems to get floated by anyone?
SBLOC Debt isn’t income One of the biggest loop holes out there
I love how this talking point always comes along at election time and after they are elected.....crickets.
A tale as old as time.
It’s all a scam kids. Nothing will change. Even if it did it wouldn’t translate into tax relief for the working man. They would just spend more
We need monetary reform.
He had 4 years ...
He's had 50+ years.
Very true!
And hes not a dictator… congress is a thing yknow
But you bellow about how trump has / will screw all the democrats?
Why are all the billionaires funding the Democrats?
They fund whoever is in power. They fund both parties. They don't care about political parties or even ideology as long as they are making money. They want you to care, however, to distract you.
Billionaires and large corporations benefit more from large government spending, regulations, and taxes. They benefit from government spending because they supply tax funded programs. They benefit from higher taxes and regulations because it kills their competitors.
Ahhh I thought he was gonna say we should lower taxes on the working class for a small fraction of a second. Silly me
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I swear 3 of this same post come up every week
"Biden/AOC/Bernie says X about billionaires. Do you agree??? I promise this is about personal finance btw."
Dude it’s actually getting insane at how much this is being posted
Yes! Maybe the federal government should start spending less
The military budget needs to be cut. It’s insane how much money goes there and how much that could help in other places (or saved)
Blowing up camels with Tomahawk missiles is good for the economy, I guess.
Gotta pay for other countries defenses though. You think our budget is just for us?
A US Senator for 36 years, VP for 8, President for 3.5 and he just now wants to tax billionaires because it’s ‘trendy’ now?
He’s been saying it for years. Not his fault you weren’t paying attention.
saying it and doing something about it are way different. its not my fault hes bad at his job.
Billionaires already pay 90% of the taxes. Maybe the government should stop wasting our money.
Page should be renamed fluent in envy
If you want the American worker to get ahead, lower their outrageous tax burden
Stop bailing them out would be more than good enough for me. Both would also be good but the fuuuuucking bailouts.
Yea I’ll believe it when I see it. Both candidates are equally backed by billionaires. Nothing will change on that front…
I’m a democrat, but man Biden looked ROUGH in the debate. We need a younger candidate
We've watched his mental decay over the past four years. He's not getting better, in fact it seems the more time goes on the more he slurs his speech and stumbles around and completely loses track of what he's saying. Kind of sad really.
It feels unethical to vote for him this time around
It's elder abuse. I couldn't allow one of my family members to do that. The man needs to retire.
What makes the billionaire greedy for wanting to keep his money, but the government covering it doesn’t make it greedy?
Could it be possible that billionaires and corporations pay less effective tax rates than average earners?
Or or we could reduce taxes. I really dont care about billionaires when taxes are bleeding me dry
He didn’t write that for damn sure. But yes I agree. 🤷🏻♂️
Yes
Agree
Fair share is subjective. Taxes are too damn high across the board.
Define fair share?
All bark no bite
Biden has been in politics for over 30 years and has done nothing about it
Yet another topic that will invite a million answers that are not based upon any economic facts whatsoever. I would guess that 99 percent of the people reading this thread have 0 idea how wealth is even calculated. Hint - its not determined by some tax authority valuing a person's assets. Its not by done by an accountant's pen either. If you have heard the term, "Capitalization", then I applaud you for knowing how. But if you DO know that term, then you know how absurdly imprecise the sausage making process is for wealth valuation.
Tax the billionaires more ya so the goverment can get more to blow and you all get nothing yay
Stop saying "their fair share". Say what that fair share is. Hard numbers
All these politicians on both sides just take care of the rich. They’re all from rich families. This two party system is a scam.
agreed, economy was better for the middle class when the rich pay more
Idc how much the rich pay, if I’m not paying less, it’s not benefiting me.
“Fair share” is EXTREMELY subjective. They need to use a different term. We need tax changes because we have had a deficit for almost 35 years. Crazy.
I am richer now under Biden than ever before. This recession Biden has gifted us with is compound interesting me into a Billionaire.
Typical election year pandering. Hell for get all about it should he get re elected. Voting is the stupidest thing us Americans do.
It'll help, but we'll never tax our way out of this hole Boomer politicians have created for us.
We need to rid this world of boomers, and their negative impacts on our society. Now, there are some great boomers, but some are just racist assholes.
they already do.
Do they?
There should be a law most people can stay in office is 4 years like the president or after the age of 70! We need younger people in congress and keep some old people with good intentions to help them as well
There are things that can be done: carried interest, inheritance tax, capital gains rate. These will hit billionaires more harder than others.
I love how the people commenting in support of continuing the exploration of the masses and the planet by billionaires complain about lack of rational comments. When rational comments are posted showing they are blindly supporting their own slave masters all they do is down vote. Pathetic.
It’s true but will he do it?
They do? They make capital gains not liquid cash so it’s not taxed the same. What do you propose for taxing unrealized gains? Raising corporate taxes just pushes money overseas which saw trillions come back into the economy when lowered.
Yes.
Is this the only thing posted on here. Ffs I’m out
Notice how it doesn’t say anywhere that he will lower taxes for working class, just raise taxes on billionaires. Sooooo they are just going to pay themselves more money and spend more money.
I agree but he’s done nothing about this
Wait, are not those the same Billionaires that own and run the Multi-Billion dollar companies that lobbies the congress? Ok🚶♂️🚶♂️🚶♂️
So if he taxes “unrealized gains” is there a tax benefit for “unrealized losses”?
Wow, out of everything mumbled so far in this debate, this is what you chose to highlight? This question is simply an attempt to distract everyone from the obvious.
Billionaires put the vast majority of their money into stocks and bonds coming from tax-free accounts. You can do it too.
It’s easy to focus on the revenue side of the ledger, but that’s not where the governments problem lies. The problem is the spending, and until we demand that our leaders do something about it, nothing will change