Showing posts with label Why taxing stock value increase on the supper rich is a bad idea!. Show all posts
Showing posts with label Why taxing stock value increase on the supper rich is a bad idea!. Show all posts

Tuesday, June 8, 2021

Steve’s Barking; Why are they picking on lower middle class retirees

 I’m upset ๐Ÿ˜ญ. There is an attack on the supper rich and how much their.net worth went up during the pandemic and by golly they didn’t pay taxes on their net worth going up. Of cause the report didn’t say oh crap in the beginning of the the pandemic their wealth went down. The reason I’m saying this that their wealth went down is the point that wealth based on asset is subjective to the whims of others. This now brings me to why the lower middle income ( middle class) retires are the ones who will get hurt the most if  there is a tax on the increased value of assets known as stocks. Now I’m going to write ✍️ something that most people will have a hard time understanding. Stocks  are a Pyramid, those at the top ๐Ÿ” will have to sell a portion of their stocks in the company which we lower middle income retires count on to be funding our pensions, our 401 k, our IRA. Ya ๐Ÿค”think. Now the Bezos, the Musks, Gates, Zuckerbergs, and Buffets can afford to lose a good portion of their net worth from their stock ownership of their companies but the pensions (even though those pensions that our worth much more then those billionaires net worth) because they have to pay ๐Ÿ’ฐ cash money. Those of us who have IRA’s in the stock market or 401ks our value in  stocks ๐Ÿ’ฐwill lessen. So in conclusion the people who will really be ๐Ÿ˜ž our the lower middle class retirees.