Thread by @roncaruthers

1. OK, I've seen enough of the 'hey guys, you don't make over a million so the capital gains tax won't affect you' dumb hot takes for one night, so let me explain to you why this IS a problem.

For you.

Yes, you.

2. For starters, the 'only people over a million' is the HEADLINE to get you to nod your head and think, 'yeah, F those rich jerks...won't affect me.'

But, the problem is....THERE AREN'T ENOUGH OF THEM TO SATISFY THE BEAST.

The beast needs ever-increasing amounts of your money

3. And, 'they' are smart, so they'll hire accountants to figure out how to avoid it.

Which means that the government will have no choice but to come back to YOU and raise capital gains on you and everybody else.

You may not pay 40%....but if you were paying 5% or ZERO,

4. They'll now want you to pay 15 or 20%.

They do this.

Every. Single. Time.

And just like Charlie Brown and the football, too many people fall for the 'hey, won't affect ME, so why should I care?' 🤷‍♂️

But it will.

Mark my words.

Oh, and it affects you another way:

5. It may or may not cost you your job, because it will affect the economy as a whole, and it will have an effect on stock values and prices as well.

Yeah, it may raise your crypto for a bit, but it's only a matter of time before they're going to decide to heavily tax that too

6. If you've never heard of the story of the camel and arab, go look it up.

And here is Exhibit A when of them doing EXACTLY that when they said that 'only' people making over $400k would get the new tax increase.

https://twitter.com/roncaruthers/status/1372645403519115267

7. What do you do about it?

Learn EVERYTHING you can about how to legally avoid taxes.

It is YOUR labor, and YOUR property and there is NOTHING wrong with wanting to keep as much of it as possible.

8. And strategically load up on Roth IRA's and properly structured cash value life insurance.

OK, end of rant for now.

But seriously, some of you guys need to read a history book about the tax history in this country before you spout off with your hot takes.

9. I lied....I'm not done yet.

Also, it will decrease investment capital because why risk putting your money into a ndew venture when the government SEVERELY limits what you're allowed to claim as a loss, but now wants 40% (or 30 or 20, depending) of ALL of your profit.

10. You're better off NOT risking the money, which further screws up the economy.

But none of the people making these decisions have ever run a business or have any idea how the real world works.

OK, I THINK I have it out of my system now....