Biden's capital gains tax proposal
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April 27, 2024, 02:33:41 AM
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  Biden's capital gains tax proposal
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Poll
Question: What types of property should begin having their sale be treated as ordinary income rather than capital gains?
#1
No change (Democrat)
#2
Slaves (Democrat)
#3
All animate property (Democrat)
#4
No change (Liberty)
#5
Slaves (Liberty)
#6
All animate property (Liberty)
#7
No change (Whig)
#8
Slaves (Whig)
#9
All animate property (Whig)
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Partisan results


Author Topic: Biden's capital gains tax proposal  (Read 222 times)
True Federalist (진정한 연방 주의자)
Ernest
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« on: June 26, 2021, 08:35:40 AM »

As you are no doubt aware, Biden's planning to pay for his spending proposals by some changes to the tax code. The one with the most sectional implications is to tax the capital gains on the sale of slaves as ordinary income. Personally, I think revenue needs to raised, but it would cause less sectional friction if such a change applied to all animate property, not just slaves. Also, it seems like this proposal is designed to be as painful as possible to former president Trump when he sells property from his Mar-a-Lago plantation and his other plantations to pay off his debts to avoid being jailed as a delinquent debtor. Moreover, this proposal is going to be a millstone around the neck of Vice President Devi Harris when she runs for President in her own right in either 2024 or 2028. It's going to lose the Whigs the Upper South as much of their income comes from raising slaves for sale further South to States such as Cuba or Nicaragua. On the other hand, subjecting all animate property to this change will hurt the Whigs in the prairie States from Manitoba to Nebraska.

I can't imagine that any of our few Liberty Party members are likely to choose options 4 or 6 over option 5, but I included them for completeness.
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penttilinkolafan
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« Reply #1 on: June 26, 2021, 01:14:32 PM »

None of the above, voted no change.

Simply do a new tax aimed at non-plantation businesses instead. Since agriculture is the basis of economic prosperity, services or industry are parasitic on it and thus should be taxed.

We already tax heroin sales, "buck breaking" establishments, mandingo fights and purchase of prostitute's services so why shouldn't we discourage economic parasitism?
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𝕭𝖆𝖕𝖙𝖎𝖘𝖙𝖆 𝕸𝖎𝖓𝖔𝖑𝖆
Battista Minola 1616
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« Reply #2 on: June 27, 2021, 12:19:18 PM »

Thank God I live in the Kingdom of Savoy where the abominable practice of slavery was banned long ago and even the most fiery leaders of the constitutional Right like Giorgio Meloni consider it a thing of the past, but I voted for option 5 for an American context.
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