08/23/2024
Just started reviewing the Harris/Waltz 5 Trillion $$ tax plan and it is undescribable, the devastation it will cause the economy can't be fathomed. Will be devastating to farmers and ranchers with the proposed tax on unrealized gains in the value of real estate, and anyone with mutual funds, stocks, IRA and 401k accounts having to pay taxes on the growth of their accounts whether they are withdrawing money or not, potentially paying two separate taxes on the account in the same year. They are touting that taxes on those making 400k or less won't be affected but that only applies to taxes on income, they will still be subjected to these new and different taxes that aren't considered earned income.
Then there is proposed increase on capital gains to as much as 39% that's a killer on real estate sales. These are just they first few highlights that made me stop and take notice, more to follow as I dig deeper into this dung heap.
