No word if Lois Lerner is coming out of retirement to use the new IRS power exclusively on conservatives.
Biden’s doubling the capital gains tax rate would decrease, instead of increase, federal revenue by $33 billion over 10 years, since investors exploit loopholes to avoid paying high rates, according to analysis by Penn Wharton.
So, Biden needs an additional death tax to grab up “unrealized capital gains” to prevent families from passing down wealth, which communists believe is better spent by bureaucrats.
KEY MONEY GRABS
Top rates on long term capital gains, dividends to 43.4% (record high)
IRS gets annual report on your bank accounts.
Second “Biden death tax” on top of current one for unrealized capital gains.
Top personal income tax rate from 37 percent to 39.6 percent.
New “Seniors and small businesses” 3.8 % surtax on Social Security payments, 401(k)s and pensions, IRA distributions, and small business S-corp and partnership profits for those making more than $400k per year.
Lawyers for Derek Chauvin have displayed Minneapolis police training materials, shown above, which instruct on knee restraints against a combative suspect’s neck, despite MPD chief Medaria Arradondo denials.