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Better to pay down the debt, so we don’t have to keep paying billionaires interest on the debt they own. Speaking of which, TAX THE BILLIONAIRES to pay the debt!
I'm sure those will show up right after the DOGE checks 😂. He's only saying this because the Supreme Court appears they may rule that Trump didn't have authority to impose tariffs and everything collected may need to be refunded. The Trump Admins arguing the case stated Americans are the ones who pay the tariffs which makes it a TAX - that falls under the jurisdiction of Congress. Remind me now who's the fool again?
Here’s an idea. TAX THE RICH!
u/PuzzledArrival Whoever is giving you advice on opening a BACKDOOR ROTH IRA is very confused. I completed these transactions annually for clients. First, you don't need to complete a backdoor Roth IRA if your income limits allow for you to just open one. (Income limit listed below.) Second, if you do need to open the ROTH via the backdoor you cannot have other IRA accounts when you do it because you will run into the pro rata rule (you can research the very few ways to avoid the pro rata rule.) Third, the actual way to open a backdoor ROTH involves opening a traditional IRA account and depositing your AFTER TAX, NON-deductible contribution (Leave the deposit as cash.) On the same day open a ROTH IRA at the same broker and leave it empty. As soon as the next day or when your TIRA deposit check clears (varies by broker) convert the ENTIRE traditional IRA to a ROTH IRA. Make sure the TIRA is completely empty and request that the account be closed. Now, you have a Backdoor Roth IRA and now is when you invest your funds. Remember: You cannot deduct the traditional IRA contribution on your tax return, but you must include it as a non-deductible TIRA contribution on your taxes. Make sure to inform your tax preparer that you have created a Back Door RIRA. FYI- You can repeat this process every year. The 2025 MAGI limit to open a RIRA is 150,000 for single ppl. Honestly- I believe the back door Roth IRA loophole should be abolished! The Roth IRA was created to give lower/middle income earners an opportunity to save for retirement, but, of course, the tax attorneys & CPA’s came up with a loophole for their wealthy clients to work around the law. Best wishes!
Whoever is giving you advice on opening a BACKDOOR ROTH IRA is very confused. I completed these transactions annually for clients. First, you don’t need to complete a backdoor Roth IRA if your income limits allow for you to just open one. (Income limit listed below.) Second, if you do need to open the ROTH via the backdoor you cannot have other IRA accounts when you do it because you will run into the pro rata rule (you can research the very few ways to avoid the pro rata rule.) Third, the actual way to open a backdoor ROTH involves opening a traditional IRA account and depositing your AFTER TAX, NON-deductible contribution (Leave the deposit as cash.) On the same day open a ROTH IRA at the same broker and leave it empty. As soon as the next day or when your TIRA deposit check clears (varies by broker) convert the ENTIRE traditional IRA to a ROTH IRA. Make sure the TIRA is completely empty and request that the account be closed. Now, you have a Backdoor Roth IRA and now is when you invest your funds. Remember: You cannot deduct the traditional IRA contribution on your tax return, but you must include it as a non-deductible TIRA contribution on your taxes. Make sure to inform your tax preparer that you have created a Back Door RIRA. FYI- You can repeat this process every year. The 2025 MAGI limit to open a RIRA is 150,000 for single ppl. Honestly- I believe the back door Roth IRA loophole should be abolished! The Roth IRA was created to give lower/middle income earners an opportunity to save for retirement, but, of course, the tax attorneys and CPA’s came up with a loophole for their wealthy clients to work around the law. Best wishes!
**Tax the rich and corporations.** I ask you this. Would that pay package still be reasonable if corporations and the rich paid the fair share of taxes into the system as they should be doing for a system that built the economy that allows them to thrive? “But they already pay so much into the system.” Gee golly gosh it’s almost like that’s the entire point of the fucking system we had created in which has been so thoroughly dismantled at this point that it would be a mockery to call this economy anything else than what it is. **Trickle Down Economics.** I’m not even asking for wartime compensation packages like the 1940’s. Give me 1970’s tax rates and call her good. But this is ridiculously horse shit that the top…. TOP TAX RATE in the USA is 37%. Corporate is under 40 as well. You’re gonna try telling me that isn’t trickle down economics?
You heard it here first folks, No TAX on TITS! That's right, fake tits are now tax free
Okay, which one of you asshats put TAX on the big board?
burry knows its just a ONE TIME TAX BILL.
How long til people realize it was a ONE TIME TAX BILL???
You mean the TAX on Americans.
That's why Rockefeller did what he did. Paid up life insurance policy. Family members borrow against it. Then the borrower buys life insurance payable to the foundation. Once dead, the foundation collects TAX free death benefits. Self banking. Made his wealth last longer than anyone I know of from that era.
this man literally said "at least buy leaps so that you pay LONG TERM CAPTAIN GAINS TAX instead of short term gain tax" and then immediately said "thats how rich people pay no taxes" never go full retard fellas
Wow without the TAX change, META would have fucking crushed
Every last one of them TAX HIKES!!!!!
$5k of my ROTH into BYND. LETS FUCKING GO. TAX FREE SQUEEZE.
WTF, TAX, WAR- the most murican tickers
Trade in you Roth IRA TAX free Withdrawal what you deposit NO Penalty Need cash ? Take out a collateral loan against you ROTH IRA at 5.75 interest When you take out a loan Government have to print it When there’s more supply less valuable it is When dollar goes down assets go UP Your intrest is paying its SELF Be like the RICH avoid paying taxes 🤭 DXY
The top 1% pay 40% of FEDERAL INCOME TAX. But since they have 80% of the wealth, doesn’t it follow that they should pay 80% of federal income tax? Besides that, the poor, working class, middle class and even upper middle class pay a far higher % of their income in all the other taxes - property tax, sales tax, gas taxes, etc. If Elon Musk had “only” 40 billion dollars instead of 400, would that affect his lifestyle in the slightest? Of course not - but maybe he wouldn’t be able to buy elections so easily. It’s just so bad in so many ways for so few to have so much, while so many struggle to make ends meet.
Our idiot president gives his Argentina friend Javier government $20 billion of OUR TAX DOLLARS for a bailout while he continues to wreak our economy, job market and healthcare and then Javier smartly TURNS AROUND and sells his Country’s soybeans to China putting our farmers PUT OF BUSINESS!!! How any president be so hateful of our American Farmers?
*Truth Social premarket post @6AM* #CRAPTO WILL HAVE ZERO TAX FROM NOW ON 🇺🇸🇺🇸🇺🇸
ITALY TO CUT INCOME TAX, COSTING ABOUT €9 BILLION OVER THREE YEARS, ACCORDING TO OFFICIAL [https://x.com/FirstSquawk/status/1978137122344173653](https://x.com/FirstSquawk/status/1978137122344173653)
Bro this is such bullshit. How can Silver bulls keep getting away with it? There's no fucking deeps, going for 9 green WEEKLY candles in a row! Meanwhile all my shit is dropping down to the core of the earth. AND I HAVE 50k OF TAX DEBT PAYABLE NEXT MONTH I HAVEN'T TAKEN OUT THE CASH FOR FUCK
I saw a mention of tax...TAX! What's the tax on this money? Seriously! If sold at a 126% gain, what's the tax implication?
It’s not a tariff, it’s The TRUMP NATIONAL SALES TAX. That’s the true nature of it.
America First means Americans and our Needs first!!! Give me back my TAX DOLLARS!!
gives countries OUR TAX DOLLARS to buy weapons there, I fixed it for you
there is a famous photo on Reagan and a graph that was in no way accurate its this one [https://www.upi.com/News\_Photos/view/upi/0741ad502132da219d0bcc284421c3b5/PRESIDENT-REAGAN-USES-A-GRAPH-TO-ILLUSTRATE-HIS-TAX-CUT-PLAN/](https://www.upi.com/News_Photos/view/upi/0741ad502132da219d0bcc284421c3b5/PRESIDENT-REAGAN-USES-A-GRAPH-TO-ILLUSTRATE-HIS-TAX-CUT-PLAN/)
* EV sales surge in third quarter as EV TAX CREDITS expire*
Two things. If you have existing stock or assets that can sell off to pay back the loan if things go kaput, and youre certain you'll likely make back your money AFTER TAX, go for it. If your interest is 7 percent and your tax bracket is 20 percent, you'll need to get back 9 percent or more roughly. That's not hard to do if you invest in stable stocks with good history and good potential, but unh is not one of them.
remember a roth investment account requires you to actually purchase a stock, else the money just sits. but if you were to max out 7k/year (or whatever it gets raised to) and dump it into VOO that means not only the gains on the investment but NO TAX when you cash out that IRA. not a bad plan at all.
The premiums you pay in are TAX FREE distributions. You use post tax dollars to pay for this. Let's say you paid $1,000,000 in premiums, and it grows to be $1,400,000 The $1,000,000 you take out which is your premium is tax free, when you remove that $400,000 you pay taxes on the gains. You know what else does this and is low cost? A Roth IRA. If you make too much to do a Roth, you do a trad IRA then convert it to a Roth. I would have a real conversation with that insurance salesperson.
*"My understanding is that I have to pull all my money out of the 401K account and invest it in my Schwab account. I can invest this money in exactly the same way as it is in my 401K and still earn this 15 or so percent each year. My question is this, how can I invest this money without paying taxes on the investment and only pay taxes on the withdraw?"* Your understanding is partially incorrect. You would establish an IRA with Schwab, and then roll over your 401k balance to your IRA after you leave that employer. There is a process to do this that Schwab can help you with in order to avoid the IRS thinking you "withdrew" 100% of your 401k balance and hitting you with a tax bill for all of it as income. Thus, your 401k assets become IRA assets, where they continue to grow tax-deferred and you only pay tax on withdrawals. NOTE: THIS ASSUMES YOUR 401K IS 100% PRE-TAX, I.E. NO ROTH ACCOUNT. If your 401k is all traditional, i.e., pre-tax contributions plus employer contributions, you would establish a traditional IRA with Schwab and roll it into that. If some of your 401k assets are in a Roth account, then you would also establish a Roth IRA with Schwab and roll the 401k Roth assets into the Roth IRA.
I was gonna say dude got a TAX RETURN. Either he is a trust fund baby with a GREAT accountant or he is most likely just a regular dude with regular dude amounts of money.
The gov now owns a big chunk of Intel and he is pretending to invest on our behalf with OUR TAX MONEY that he stole and put in a sovereign wealth fund that no one in Congress approved
STRIP CLUB GIANT RCI HOSPITALITY CHARGED WITH TAX FRAUD AND BRIBERY OF TAX AUDITOR *THE COMPANY BRIBED TAX AUDITORS WITH FREE LAP DANCES FROM STRIPPERS & TRIPS TO ITS CLUBS IN MIAMI *THE TAX AUDITOR WAS GIVEN UPTO $5,000 PER DAY FOR LAP DANCES AT RCI OWNED CLUBS How can someone possibly get $5k of lap dances daily.
##*THE TAX AUDITOR WAS GIVEN UPTO $5,000 PER DAY FOR LAP DANCES AT RCI OWNED CLUBS Lmaooooooooooooooo, you dirty sumofabish
You gained half the wealth AND have to pay taxes. In no scenario is $37.5 in gains (realized or otherwise) better than $68.50 in gains. You lost half the wealth thinking you are a day trader. Worse in AFTER-TAX terms you will have even less. Every dollar paid in taxes now is a dollar you can't invest. >Statistically speaking, is it better to hold a stock or to keep on trading it daily to earn higher profit? You DIDN'T earn a higher profit. You pissed half of the profits away.
You’re not understanding the comment; at a 37% ted bracket you need to initially EARN over 37% more money to contribute the same total to a ROTH. Because they are POST-TAX funds. Using a simple comparison calculator online will show you that your assessment is incorrect.
The mental gymnastics lol. MAGA are so funny (in a “it’s scary that people like this exist” kind of way). Like… Trump is being misled? The same Trump who fired the BLS commissioner because he didn’t like the numbers? The same Trump demanding rate cuts even though “the economy is booming”. The same Trump who said Tariffs are bringing in “Trillions of Dollars (actually only 28 billion in TAX money). The same Trump who says there is no inflation yet it goes up every month. Yeah… I’m pretty sure Trump knows the numbers. The numbers are a product of his policy. It is by design. Tariffs are not a weapon against foreign nations, they are a weapon against the American people. Some MAGA will eventually get it. Most will not.
On the other hand, all gains are TAX FREE!!!!!! (and losses are not deductible)
Scott Bessent Urges a Fair and Independent Review of the Federal Reserve Covering Monetary Policy, Regulations, Communications, Staffing, and Research BESSENT: WHEN THE TRUMP ADMINISTRATION SHIFTED TOWARD TAX CUTS AND DEREGULATION, THE FED’S FORECASTS WERE TOO PESSIMISTIC- WSJ
President Trump says tariffs could replace FEDERAL INCOME TAX. "If you go back to 1913, we were the richest ever from 1850 - all tariffs, no income taxes - to 1913." "Then we went to income tax, then we had the Great Depression!" "This poor beautiful nation was GONE...the tariffs are VITAL to the success of this country."
This idiot and Lunick think taxes will be replaced by tariffs. PROJECT 2025 says to replace income tax with consumption tax, shifting the burden to lower incomes. Dumb Donald and Loony Ludnick are charging consumers and business a hefty tax. US INCOME TAX REVENUE 2024: $2.4 TRILLON Best estimate with rainbow numbers for Tariffs... $300-500 BILLION with a 'B" Not a "T" A 5th grader knows that math doesn't work.
Options are just an extra TAX on your wealth. Government gives money to Banks -> Banks gives money to Market Makers -> Market Makers sell options and collect premiums -> Options expire worthless -> Market Makers give money to banks -> Banks give money to Government
Maybe he could...I dunno....*TAX THE RICH THAT THEY KEEP GIVING BREAKS TO?!*
280e gets removed. This means they can deduct business expenses. MASSIVE TAX BURDEN GONE! Also Fed now recognizes these companies as legitimate legal operators snowballing to other changes. Also 500k jobs just like that added into the job report…. Since they were not ‘recognized’ due to being ‘illegitimate’
>ITALY MAY CONSIDER TAX ON BUYBACKS OF LISTED FIRMS - CORRIERE Debt crisis
Trump thinks nobody ever reads the fine print. It's dishonest what he's telling TAX PAYERS about Intel.
Ok check this out… SPY TAX MADE WAY to your butt.
#DIGITAL SERVICES TAX #what kind of eurotard slop is that #taxes are peak europoor innovation #will penalizing GOOGL for being amazingly innovative and successful #improve the lives of europoors? #NO #because eurochief npcs still cuck European businesses destroying them #still #just tell your citizens "you have 6 days more holidays than americhes" #to cuck them into thinking a 3rd world salary and dead business environment isnt too bad #LOL
#DONNIE IS PROTECTING OUT GOOGLE SHARES #hes protecting us U.S TECH PERMA BOLS #EUROPOOR FUCKS, DROP YOUR DIGITIAL SERVICES TAX #OR PAY THE CONSEQUENCES #YOU POOR FUQ LOSERS
My youngest SON asked me what is FICA TAX I told him it's the FUCKING INCREASED CRIMINAL ASS tax He is NO longer gay and asking WENDYS to remove it from his checks
And what's the status of that now? GM was the only one however, I DO believe they're the only ones with such a requi requirement. Granted they got the biggest I Think. I'm just saying that they received money if they had required ownership etc then that even furthers my point. My point by bringing it up,n was the people complaining about the Intel deal. I just wondered if they were as mad about a similar thing in 2008 lol. Granted as well, one was to prevent the collapse. However they started the collapse and should suffer the consequences. Of course the only people to actually suffer said consequences would be the working men and women. So it's unfortunate that the people are those people's shields. Aways has been, always will be. If you ask me we need to stop bitching about each other and left vs right, stand together. Grab either the pen or the sword and start cleaning house in the entire government, all the corruption, biased laws (for thee not for me), financial loop holes that MMs etc take advantage of, Senate or Congress stock trading, lobbying, hell even corporations and the laws behind them need revamped, fines instead of punishment for doing illegal things some that get people killed, they pay a TAX instead of a real fine. Starting with every dollar of not just profit. But revenue from said activity should be forfeit and if you go Bankrupt Bec of it, so be it.
Don't day trade - the market outperforms in the long run every time After paying off any high interest debts, Max out 401k and Roth with your regular income (PRE TAX), use the inheritance to cover differences in your expenses, open a ROTH, contribute $8k this year (the yearly limit). Put another $8k in a high yield savings and jan 1, 2026 put it in the Roth. The rest - invest in a few mutual funds and do nothing. Wait at least 3 years to avoid high cap gains tax. It may become a down payment or funds to start a business later when you're wiser and more experienced. Throw away some money on a trip or experience instead. Do something the retired you won't be able to. Squandering the gift of TIME and MONEY is stupid, don't waste it.
Or TAX THE RICH! Believe it or not we already have ways to capture private equity without exposing the public to major market risks and political fraud. Tired of these fucking morons playing games and trying to defraud our entire country!!!
No, u don't. That's the mentality that you have been fed. $2mil in S&P 500 getting average 7% with inflation, you're getting 140k per year! Depending on where this 2mil is, that could be TAX free!
This. Dude won't admit shit. He'll take credit for shit he didn't do. Blame others for problems he caused. And then lie out his teeth while his cult sucks his cock. **"THE ECONOMY IS GREAT NOW! ALL NEW HIGHS IN THE STOCK MARKET. ALL NEW HIGHS IN THE REAL ESTATE MARKET. ALL NEW HIGHS IN THE GOLD MARKET. AMERICAN GOODS SELLING AT ALL TIME HIGHS. HIGHER INCOMES. HIGHER TAX REVENUE. ALL BECAUSE OF ME. EVEN THOUGH SLEEPY JOE BIDEN AND THE CROOKED DEMOCRATS GAVE ME THE WORST ECONOMY OF ALL TIME WITH HIGH BIDUNEMPLOYMENT, HIGH BIDENATIONALDEBTS, AND HIGH BIDINFLATION BIDENCESSION!!! BUT I MADE AMERICA GREAT AGAIN! THANK YOU FOR YOUR ATTENTION TO THIS MATTER!"** Release the EPSTEIN FILES.
JFC. It’s called taxation. It’s a tax. It’s not revenue sharing. It’s a TAX. Perhaps my reading skills are lacking, but the last time I read the Constitution it was pretty fucking clear where taxation orients from. “But the US citizens don’t pay for the goods sold to China.” Perhaps, but the company is seeing an immediate loss of 15% on all sales — I will be curious to see how taxes on overall sales end up calculated.
TAX THE RICH! *🥭 taxes richest company on the planet FUCKING COMMIES!
150 billion in tariffs means a TAX ON US! Imagine how weak you must be to worship the Conservative Party that wants MORE TAXES
Hundreds of billions of (AMERICAN TAX PAYING CITIZEN) dollars are pouring into our country’s coffers. The president is literally robbing the country and celebrating it as a win for America!? Wtf happened to society??
I am no economy expert, but this is how I understand how it works. The tariffs are a tax on imports. So if a country has a 15% Tariff enforced on it, that is an new tax billed to the US entity that imports goods from that country. So to simplify: Company A sells seashells for 20 Dollars. The best seashells are from the country of Seashell Island. Normally Seashells from Seashell Island cost Company A 10 Dollars. Trump places as 30% tariff on Seashell Island. Company A now has to pay the 10 Dollars + the 30% tariff. What used to cost Company A 10 Dollars now costs 13 Dollars. Seashell Island still gets 10. The Government now gets 3. Company A could either eat the 3 Dollar tariff and still sell Seashells for 20 Dollars, but their profit margin is less. Company A could pass the cost to the consumer and raise the price to 23 Dollars so they still make 10 Dollars per seashell. At the end of the day Company A likely raises the prices a little bit, and both Company A makes less money per Seashell and the customer pays a little more per seashell. Seashell Island doesn't pay a dime, and the government gets the extra money. Tariffs are a TAX on businesses. Businesses always pass the cost of doing business to the costumer. That is how regular people end up paying for the tariffs.
Yay tariff /TAX payed by the importer….. US… can’t fix STUPID….
So where is all this money going? Let’s see some bookkeeping showing money going into the US Treasury directly from foreign governments. I won’t hold my breath. I will get ready to pay more for things though. After all, WE pay the tariffs, not the foreign countries. The TRUMP TAX.
SALES TAX. AMERICANS will be paying BILLIONS of DOLLARS in added SALES TAX thanks to Trump.
Tax sheltered account!? Let me get this straight, you have your nest egg bet on one highly volatile company, you’re at a loss on paper, and you’re asking if you should withdraw from a TAX SHELTERED account, assuming with penalties, to pay down a mortgage? You understand this is akin to betting your net worth on a roulette wheel, correct? TLDR: Hire a fiduciary.
I’d make it 10000%… take that money, flip it, build 10,000% houses… that’s cash flow… use it as leverage boom now you have a million billion dollars… now open up a Whole Life policy… BOOM you’re your own bank TAX free, borrow from yourself, flip it, pay YOURSELF interest, double your cash flow, buy another million houses, buy another tariff, buy another life policy FUCK IT FAKE YOUR OWN DEATH the whole system collapses under the economic value of your insurance policy. That’s what I’d do at least.
There is a difference between your own team vs firing people because they dont bend the knee to your every whim. Firing the person who reports job stats doesnt mean jobs start suddenly appearing out of nowhere. He wants her gone because it bruised his ego and now hr can put someone in to manipulate the stats so he looks good. There was no issue with her till now and she was a Biden appointee. So if thats the case why was she still there when the previous job reports were looking fine? Trump wants complete control over all things in the government because he wants to be a dictator, he even said so during his 2nd campaign he will be a dictator on day 1. And you do realize his big beautiful bill will kick approx 15 million off healthcare system, many who have disabilities, elderly and children and approx 50k every year will die. But yet the ultra wealthy will get massive tax cuts they dont need at the expense of lower and middle class Americans dying, losing their benefits, paying much more for goods because tariffs are and IMPORT TAX WE PAY FOR. But if none of that bothers you, what about all the grifting Trump does to his own voters? He literally had a gofundme type page for his criminal and civil lawsuits going on prior to his 2nd election. He sold MAGA merch MADE IN CHINA and claims hes pro US manufacturing. And just the other day, there is a commercial for Trump gold coins imprinted with that convienient pose in front of the american flag when that kid "shot" Trump at a rally. The fact 77 million people voted for Trump when all he does is con them, steals their childrens education from them, rapes their underage daughters, shows Republicans have no values other than "its all mine, no one else gets to have any but me"
***UNH TAX LOSS HARVESTING IMMINENT SO WAY DOWN TO 120s.*** |DOJ finding evidence |UNH Drops to 180s|| |:-|:-|:-| |***UNH failing in Q3 again***|***UNH Drops to 150s***|| |***UNH canceling dividends and Tax Loss Harvesting***|***UNH anchors to 120s***||
You have to be nuts to believe inflation isn't coming. 25% TAX on 'American' cars.... Ford already saying tariffs will cost them at least $1.5 BILLION just this year. [cars ](https://omdia.tech.informa.com/om132391/us-tariffs-could-impact-nearly-3-million-mexicobuilt-vehicles-annually)
PLUS, RAGING Dementia. How did this guy get elected??? Let's just throw another 10% on for LAUGHs. Are you not Entertained by this Raging Incompetence? I've been saying it for years, the Republicans don't have a deep bench, unless you count the vast depth of Conspiracy Nuts, even in Economics. WTF. Like 10% is Peanuts, AND it's Not a US National SALES TAX on AMERICANS!
It would be a different word. Like SALES TAX or EMBARGO
I will never agree with Trumpsters that this TAX on Americans is good for the country, ijs that they have some logic behind how it can be. It's not at all comparable imo to covid increases followed by corporate greed
AGAIN with the misconception of who pays a damn tariff!! If you want the other country to pay you TAX them 15%, not **tariff** FFS.
No, Korea is NOT paying the tariffs. Countries do not in any circumstance pay for tariffs. The consumers will. Americans will pay a 15% TAX on products from South Korea .
Correction. Trump threatens a 100% TAX on all US citizens who purchase items from China.
All these motherfuckers are like TAX THE RICH when the average IRS employee makes $65 an hour. You've got chickens guarding the tyrannosaurus pen.
LISTEN TO ME OR I'LL TAX MY PEOPLE what a master stroke
#POOR TAX #you want more room don't be a fuqing POOR LOL
People really miss the point that tariffs = domestic TAX 15% tax on the EU just means that amaricans are pain 15% tax on EU goods
Dude. YOU PAY THE TAX.
NO tax on tips No TAX on over time, the fuck are you talking about motherfucker? Fucking interest rate about to fall cuz powell gonna get his ass fucked by US the American ppl. Fuck you America haters. Oh no you're not in position to leave? we will help you leave gtfo out the door is south Si senor.
The public needs revenue. The government only needs enough for what's useful to the public. When it's being dumped on stuff that isn't, that taxation is crap. Misspending and poor utilization is not good government. Neither is pulling wealth from the wrong section of the population. The biggest problem is that second part. Tariffs are THE absolute worst method for public well being. Here's a breakdown of US wealth and application of tariffs upon that wealth. You decide if it's the correct approach. This is based on Trump's $9 Trillion tariff dollar target. Now the US has $160 trillion dollars of wealth. It's super easy to get $9 trillion if you want it. You just don't try to get it the literally stupidest way possible, aka tax the hell out of the poor...which is what Trump is doing. [https://scontent-msp1-1.xx.fbcdn.net/v/t39.30808-6/516751295\_24763295266606036\_4270644916555710257\_n.jpg?\_nc\_cat=104&ccb=1-7&\_nc\_sid=127cfc&\_nc\_ohc=gwvX03agGPgQ7kNvwFGmVZT&\_nc\_oc=AdndOwuT6mQBhNvyvK8xrup\_RcUz7Ef3K6KSSZsIyeR6Hq3jm2ZvGPWPA1PHNXzrUKg&\_nc\_zt=23&\_nc\_ht=scontent-msp1-1.xx&\_nc\_gid=5-nqwyL8S1a34OurXcrKng&oh=00\_AfTac7O-iBC6OPvhif1jOGFb\_UhJHjhsLCSvDPfLXZIh1w&oe=688C4AB1](https://scontent-msp1-1.xx.fbcdn.net/v/t39.30808-6/516751295_24763295266606036_4270644916555710257_n.jpg?_nc_cat=104&ccb=1-7&_nc_sid=127cfc&_nc_ohc=gwvX03agGPgQ7kNvwFGmVZT&_nc_oc=AdndOwuT6mQBhNvyvK8xrup_RcUz7Ef3K6KSSZsIyeR6Hq3jm2ZvGPWPA1PHNXzrUKg&_nc_zt=23&_nc_ht=scontent-msp1-1.xx&_nc_gid=5-nqwyL8S1a34OurXcrKng&oh=00_AfTac7O-iBC6OPvhif1jOGFb_UhJHjhsLCSvDPfLXZIh1w&oe=688C4AB1) This is also why the rich LOVE tariffs. It's not a tax on assets. It's not a tax on income. It's a tax on purchases, and person to person, the purchases of the broad spectrum of goods is roughly equal, poor or rich, your burden is roughly 1:1. And if you think the rich do spend more on common goods like milk, cereal, coffee, toasters, toothpicks, whatever, then multiply their burden by 10, by 100, by 1000, it literally doesn't even matter to them if they buy 1000x the goods of the poor. The percent burden is still nothing. If you don't tax assets, if you don't tax income, YOU DON'T TAX THE RICH. And when you tax sales and goods, YOU TAX THE POOR. That's the game. That's why the rich push so hard for flatter income tax and to eliminate the "death tax" which only affects anyone with more than $400m dollars. That's none of us, but it's one tool that actually works well at redistributing wealth. You have all these tax systems the rich are trying to swindle their way out from so the only place tax can come from is the poor through things like sales tax and tariffs. And the poor get exceptionally poor, broke, destitute. The masses can no longer move the industrial complex that is consumerism. Company revenue crashes. Companies fail and disappear forever. The economy crashes. And it all happens because the opulently rich don't want to give up even a tiny spec of their immense wealth. And that wealth is IMMENSE. The game is complacency and ignorance. Tariffs aren't good. Trumps abuse of them aren't good. Income tax is great. It's one of the best tax methods we have. But media have pushed exceptionally hard to get you to believe that "evil" income tax is stealing from you. No, it's the only tax that actually scales, and it should scale harder and heavily burden the exceptionally wealthy. Instead...we have Trump and tariffs, and bankrupting half this nation. If you think that's you doing your part, no, it's not. That's you being gullible. Look, I LOVE getting taxed...when it's the right tax. I happily pay taxes to have the roads in great shape, schools paid for, have social programs in place for those in need, and everything else good taxes offer. I HATE getting taxed the wrong way that unfairly burdens me and everyone else. Tariffs are the worst of the worst, and EVERYONE should be pissed off. There has never been a higher tax placed on you or I in our entire lives than what Trump is doing right now. Never before have you been asked to pay so much and the rich to pay so little of that burden. And if you think that's somehow good, I don't know if I can help you.
Just means the already short supply in the states is going to become extinct at affordable cost levels. TARRIFS = MASSIVE TAX HIKES for all of us. Just too many are ignorant but bitching about food prices going only one direction.
Don't you owe taxes on PRE-TAX (401k) regardless when you draw? Doesn't matter if you are retired or not. I thought that at a certain age (72?) the government forces you to withdraw around 4% of the total?
Listen to what (“ButterPotatoHead” said). —>Your employer has to file (1099 tax forms), as well. —>If you do an odd job, for your family member. Ex: (1)you fixed the family members computer/(2)the family member PAID YOU, for fixing their computer/(3)you allocated the money to your bank account. —>Do you think that “your family member is going to fill out TAX FORMS” — that will explain that: “my nephew fixed my computer, and (I/the family member), will pay extra fees to the government TO MAKE THIS ACTIVITY SEEM LIKE A LEGITIMATE JOB.” —>Do you think that your family member will do this? Possibly, but you’re just putting yourself + your family member — at more risk. “ButterPotatoHead said”: Your (employer/family member) has to file 1099’s as well, and (employer/family member) will be subject to taxes.
I do not think there is a legal way to: (1)allocate UNEARNED INCOME to a brokerage account/(2)convert brokerage account assets “into a back door thing.” If you want to invest in a (Roth IRA/tax advantaged account) — I would probably just get a job, that will give you TAX DOCUMENTS. —>401k accounts, are (tax advantaged accounts). Can only allocate EARNED INCOME. —>Roth IRA accounts, are (tax advantaged accounts). Can only allocate EARNED INCOME. ->PS: It is very important, especially in the long run — that you are only allocating EARNED INCOME to these (tax advantaged accounts). ->Brokerage account = you can use any income source to fund it.
To allocate money to a (Roth IRA) — you can only allocate “earned income” to a (Roth IRA). Earned income, from jobs that issue a (W - 2 form/tax form). A traditional job/job that issues a tax document. If you earned income from doing things like: (1)you did something for your parents/(2)you did something for your friends — and you received payment for these things — and this job does not issue you a TAX DOCUMENT —> this type of income source, cannot be used to fund a (Roth IRA). Brokerage accounts = can use (earned income + unearned income + money given to you by family + etc) —> you can use many income sources “to fund a brokerage account.”
Imagine not buying Tesla calls a week out after dropping 10% from expected shit earnings and a loss of EV TAX CREDIT. All it takes is one mango reinstating EV credit
It's not a TAX ON AMERICANS, IT'S A TAX ON JAPAN(ese products) !
JAPAN DOESN'T PAY US TARIFFS!!!!!! You f'ing idiot. Americans pay the import TAX known as a tariff.
Japan doesn't pay the 15% tariffs on Japanese goods shipped to America! It's an IMPORT TAX paid by the importing nation. It is paid by American importers at the US port of entry . . . and that additional cost would be passed to wholesalers who will pass to retailers and ultimately to American consumers. Trump just raised the price of Japanese imports by 15% to US consumers. Only fools would celebrate this self-induced inflation.
What’s this BS about Indonesia paying 19% tariff, Americans pay it, it’s a TAX.
# TRUMP IS THINKING ABOUT NO TAX ON CAPITAL GAINS, HOUSES. # Not buying into $OPEN with that news seems crazy to me. PLUS EJ is going on at 2pm to talk about it. If he reiterates his stance, market sentiment will 100% pump it again, and probably more. $7-$10 by end of month imo.