đ¨ 25% UNREALIZED capital gains tax by Kamala Harris?
Yesterday I dropped a post about this insane proposal and today I want to add some more info around the topic:
The federal income tax was introduced in 1913. and it required a constitutional amendment (16th). ie, federal income tax was unconstitutional before 1913.
Furthermore, the tax only applied to the top ~1% of earners. 99% of the population paid no tax. and the tax rate for the the 1% who paid any tax at all was only 1-7% depending on their tax bracket.
Over the following century federal income tax rate evolved to the point where not only the majority of the population owes tax but also the highest bracket rate went from 7% to nearly 40%.
Lesson? if they can impose wealth tax for ppl worth $100m+, they can and they will eventually impose wealth tax for everyone. and if they can impose wealth tax on unrealized cap gain, they can and they will eventually impose wealth tax on ur total wealth, period.
itâs a slippery slope. stupid and evil ideas need to be killed in their infancy.
Study history. Speak up and stand up for yourself. Don't let this madness take over.
The "You will own nothing and you will be happy" gang is taking it pretty far.....
#kamalaharris #elections2024 #elections #donaldtrump #tax $BTC
