The bigger issue at hand which neither Democrats or Republicans are saying is we need to reduce government spending. Taxation won’t reduce this because it just enables government to spend and spend more. Government spending on **both sides** is completely out of control and is unsustainable, and when either party is in power said party goes full hog on government spending they want to spend money on.
The stock market is like Jenga blocks, the rich people impacted by this are the bottom blocks. The rest of our pension funds and portfolio’s are at the top. Take enough of the bottom blocks, the top blocks don’t magically ‘Hover’ in place. Unless you have mental problems, then anything is possible!
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Neoliberal gonna neoliberal. This is why we can’t have nice things.
More on this subject from other reputable sources:
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– CNN.com (C+): [Harris to break with Biden on capital gains tax, proposing a smaller increase](https://www.cnn.com/2024/09/04/politics/kamala-harris-capital-gains-tax/)
– ABC News (B+): [Harris breaks with Biden on capital gains tax in plan to spur small business growth](https://abcnews.go.com/Politics/harris-breaks-biden-capital-gains-tax-plan-spur/story?id=113385708)
– Wall Street Journal (B): [Kamala Harris to Pare Back Biden’s Capital-Gains Tax Proposal](https://on.wsj.com/4e8hmnQ)
– Al Jazeera (C+): [Kamala Harris departs from Biden capital gains tax plan to widen her reach](https://www.aljazeera.com/economy/2024/9/4/kamala-harris-departs-from-biden-capital-gains-tax-plan-to-widen-her-reach)
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She did this at the advice of Mark Cuban.
The bigger issue at hand which neither Democrats or Republicans are saying is we need to reduce government spending. Taxation won’t reduce this because it just enables government to spend and spend more. Government spending on **both sides** is completely out of control and is unsustainable, and when either party is in power said party goes full hog on government spending they want to spend money on.
The stock market is like Jenga blocks, the rich people impacted by this are the bottom blocks. The rest of our pension funds and portfolio’s are at the top. Take enough of the bottom blocks, the top blocks don’t magically ‘Hover’ in place. Unless you have mental problems, then anything is possible!