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WATCH: A row about more than forecasts: it’s abt trust, abt whether govt exaggerated poor state of public finances to justify big tax rises & whether Lab was honest in elex when flagged £8.6bn in tax hikes & then lifted taxes £66bn in 18 mths By Izzy Losseff Tom... show more

Beth Rigby

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70,271 görüntüleme • 8 ay önce •via X (Twitter)

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Beth Rigby

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Beth Rigby

50,798 görüntüleme • 1 ay önce

I applaud the Prime Minister for calling for honesty in politics but if we now face tax hikes & cuts to public services to fill a £20bn black hole in the public finances we must have an honest discussion about the negative impact of Brexit & the role it has played in creating it

I applaud the Prime Minister for calling for honesty in politics but if we now face tax hikes & cuts to public services to fill a £20bn black hole in the public finances we must have an honest discussion about the negative impact of Brexit & the role it has played in creating it

Peter Stefanovic

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WATCH: Govt wants to talk about rise in national minimum wage, but with bills going up for millions of us, the cost of living crisis rolls on. And that’s b4 impact of tariffs. Here’s our exclusive with the PM on it all today By Paul Twinn Tom Sue Yek Meg Matthews & Finn Lehane

WATCH: Govt wants to talk about rise in national minimum wage, but with bills going up for millions of us, the cost of living crisis rolls on. And that’s b4 impact of tariffs. Here’s our exclusive with the PM on it all today By Paul Twinn Tom Sue Yek Meg Matthews & Finn Lehane

Beth Rigby

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WATCH: Carbon Tax Carney was on the run again, refusing to answer Qs & escaping in a luxury German SUV! Chased down by CTV News, he wouldn’t say whether he will scrap the carbon tax! This man may be PM in 44 days. Which of Trudeau’s wacko free drug policies will he impose?

WATCH: Carbon Tax Carney was on the run again, refusing to answer Qs & escaping in a luxury German SUV! Chased down by CTV News, he wouldn’t say whether he will scrap the carbon tax! This man may be PM in 44 days. Which of Trudeau’s wacko free drug policies will he impose?

Sebastian Skamski

35,536 görüntüleme • 1 yıl önce

🚨BREAKING: Gavin Newsom Adds $1 Billion in New Immediate Taxes to State Budget Proposal for Software as a Service (SaaS) Items. The last thing we needed was a new tax in California. Doesn’t matter. Whether it’s the $1.8 billion January 6th fund, a per-mile tax, or an SaaS expansion, Newsom wants ALL your money. Whether he can put it to good use or avoid fraud, he doesn’t care. Now, his hope is to tax digital products like Microsoft Office, QuickBooks, Adobe, Slack, Zoom, DropBox, and more. Apparently, it’s “unfair” for you to avoid a state sales tax by not taking a trip to Best Buy. These are the words from the horse’s mouth. Furthermore, the new CA budget proposal would: - Add $2 billion in new state taxes annually after 2026-27. - Increase business to business (B2B) transaction expenses, costs that ultimately get passed onto consumers. - Lead to slower adoption of productivity enchancing tech and decrease overall productivity. Good idea? Bad idea? Comment below.

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Max Bonilla

14,357 görüntüleme • 2 ay önce

If this turns out to be true and it can be proven with documentation, emails etc then it MUST be a resignation Issue. Rachel Reeves and the government claimed they had now choice but to bring in hefty tax rises due to a massive hole in public finances. It now appears they they were told TWICE by the OBR that there was no significant hole or deficit. They CHOSE to raise taxes deliberately and then misled the entire country about the reasons.

If this turns out to be true and it can be proven with documentation, emails etc then it MUST be a resignation Issue. Rachel Reeves and the government claimed they had now choice but to bring in hefty tax rises due to a massive hole in public finances. It now appears they they were told TWICE by the OBR that there was no significant hole or deficit. They CHOSE to raise taxes deliberately and then misled the entire country about the reasons.

JohnHann0404🇬🇧🏴󠁧󠁢󠁥󠁮󠁧󠁿

68,733 görüntüleme • 8 ay önce

EXCLUSIVE Rachel Reeves has told me she is looking at both tax rises and spending cuts in the Budget -- in her first interview since being briefed on the scale of the black hole by the OBR. The Chancellor told Sky News that “of course, we're looking at tax and spending as well” when asked how she would deal with challenges in the November 26 Budget. She was speaking to me as part of Sky's year long series on blockages to growth. Do watch this masterful film by Joe Cook Tom Sue Yek - for the body language and insights as well as her words. Reeves also appeared to concede the existence of a tax doom loop by saying she wants to break out of it. Asked if she could promise she won't allow the UK economy to get stuck in a doom loop cycle, she replied: “Nobody wants that cycle to end more than I do, Sam.” She said that’s why she was trying to grow the economy, and only when I pushed her a third time did she suggest she “would not use those (doom loop) words” because the UK has the strongest growing economy in the G7. Watch for yourself

EXCLUSIVE Rachel Reeves has told me she is looking at both tax rises and spending cuts in the Budget -- in her first interview since being briefed on the scale of the black hole by the OBR. The Chancellor told Sky News that “of course, we're looking at tax and spending as well” when asked how she would deal with challenges in the November 26 Budget. She was speaking to me as part of Sky's year long series on blockages to growth. Do watch this masterful film by Joe Cook Tom Sue Yek - for the body language and insights as well as her words. Reeves also appeared to concede the existence of a tax doom loop by saying she wants to break out of it. Asked if she could promise she won't allow the UK economy to get stuck in a doom loop cycle, she replied: “Nobody wants that cycle to end more than I do, Sam.” She said that’s why she was trying to grow the economy, and only when I pushed her a third time did she suggest she “would not use those (doom loop) words” because the UK has the strongest growing economy in the G7. Watch for yourself

Sam Coates Sky

863,321 görüntüleme • 9 ay önce

"There is a way." This was Donald Trump's response to a question about whether or not it's possible for the US to abolish ALL Federal Taxes, "once the country is back on its feet." What I believe we're seeing out of Trump's financial narrative deployments of late is the seeding of the ultimate Reverse Hegelian Dialectic, which was summed up in his epic sit-down with the fiat vampire protectorate class represented by Bloomberg and WSJ in which he said, "you people have been wrong about [currency] your whole lives." When Trump announced his "No Tax on Tips" plan, and followed it up with "No Tax on Loans," only to follow THAT up with "No Tax on Police, Fire and MIL," while taking jabs at taxation as a concept, he's engaging in mass psychological game theory. If and when Trump starts to roll back these ancillary taxes, those who have NOT received the breaks will demand them. And Trump will oblige. He's forcing the old system to justify its existence. It's failing. And it's afraid.

"There is a way." This was Donald Trump's response to a question about whether or not it's possible for the US to abolish ALL Federal Taxes, "once the country is back on its feet." What I believe we're seeing out of Trump's financial narrative deployments of late is the seeding of the ultimate Reverse Hegelian Dialectic, which was summed up in his epic sit-down with the fiat vampire protectorate class represented by Bloomberg and WSJ in which he said, "you people have been wrong about [currency] your whole lives." When Trump announced his "No Tax on Tips" plan, and followed it up with "No Tax on Loans," only to follow THAT up with "No Tax on Police, Fire and MIL," while taking jabs at taxation as a concept, he's engaging in mass psychological game theory. If and when Trump starts to roll back these ancillary taxes, those who have NOT received the breaks will demand them. And Trump will oblige. He's forcing the old system to justify its existence. It's failing. And it's afraid.

BurningBright

668,508 görüntüleme • 1 yıl önce

Dr. Mary Talley Bowden calls for investigation of “nonprofit” hospitals 👇 She questions how hospitals labeled nonprofit can justify executive salaries topping $6 million a year while paying no property taxes — especially in Texas, where rising property taxes are forcing families out of their homes. Bowden points to Houston, home to the largest medical center in the world, where most hospitals are nonprofit, tax-exempt, and yet generate billions in revenue. She notes that 18 of the top 20 nonprofits in Texas are hospitals. One example: Houston Methodist Hospital, the top nonprofit in the state by income, whose CEO reportedly earns over $6 million annually. Her conclusion: it’s time for serious investigations and full audits of nonprofit hospitals’ finances. Mary Talley Bowden MD

Dr. Mary Talley Bowden calls for investigation of “nonprofit” hospitals 👇 She questions how hospitals labeled nonprofit can justify executive salaries topping $6 million a year while paying no property taxes — especially in Texas, where rising property taxes are forcing families out of their homes. Bowden points to Houston, home to the largest medical center in the world, where most hospitals are nonprofit, tax-exempt, and yet generate billions in revenue. She notes that 18 of the top 20 nonprofits in Texas are hospitals. One example: Houston Methodist Hospital, the top nonprofit in the state by income, whose CEO reportedly earns over $6 million annually. Her conclusion: it’s time for serious investigations and full audits of nonprofit hospitals’ finances. Mary Talley Bowden MD

WorldviewTube

23,396 görüntüleme • 5 ay önce

💎 what are your thoughts about being in your 30s? 🐱 hmm actually I just talked abt a lot of other thoughts earlier, but I feel that whether it’s 30 or 20, there hasn’t really been a big change in my mindset.. I don’t really know why, but it feels like I’m kind of still stuck at 20 🐱 I don’t feel a particularly big difference overall in how I experience things, instead I feel like I go through even more everyday than before, and I’ve become more expressive too.. like I’m getting more and more small sudden inspirations that come up on set while filming now, I think that’s smtg I’m really lucky abt 🐱 one thing I’ve always felt lucky abt is that I get to do a job I truly love.. and while doing this work, I’ve always had so many people supporting me, so I really feel thankful to have been this fortunate

💎 what are your thoughts about being in your 30s? 🐱 hmm actually I just talked abt a lot of other thoughts earlier, but I feel that whether it’s 30 or 20, there hasn’t really been a big change in my mindset.. I don’t really know why, but it feels like I’m kind of still stuck at 20 🐱 I don’t feel a particularly big difference overall in how I experience things, instead I feel like I go through even more everyday than before, and I’ve become more expressive too.. like I’m getting more and more small sudden inspirations that come up on set while filming now, I think that’s smtg I’m really lucky abt 🐱 one thing I’ve always felt lucky abt is that I get to do a job I truly love.. and while doing this work, I’ve always had so many people supporting me, so I really feel thankful to have been this fortunate

^≖◡≖^ ੭

31,300 görüntüleme • 1 ay önce

🇬🇧 BRITAIN JUST HIT ITS HIGHEST TAX BURDEN EVER AFTER EARLY LEAK CAUSED CHAOS Rachel Reeves' Budget was "accidentally" published 45 minutes before she delivered it, which is extremely on-brand for how this entire process has gone. The headline? Britain's tax burden is hitting an all-time high of 38% of GDP by the end of parliament. The government is raising £26bn in taxes, with the biggest hit being a freeze on income tax thresholds until 2030. That quietly drags more people into higher tax brackets as wages rise, raising £8.3bn a year. Other goodies include a raid on pension contributions (£4.7bn), charges on electric cars, higher gambling duties, and a council tax surcharge on homes worth more than £2 million. Why the tax hikes? Partly because productivity forecasts are abysmal. Partly because Labour MPs blocked £5bn in welfare cuts over the summer and the government backtracked on cutting winter fuel payments. So now everyone else gets to pay instead. The budget headroom doubled to £22bn, which sounds good until you realize it relies on spending cuts and tax increases that mostly kick in later. Kicking the can down the road, British style. Source: Financial Times, Bloomberg

Mario Nawfal

293,511 görüntüleme • 8 ay önce

Zack Polanski making the case for a wealth tax Penny Mordaunt comes up with some random figures Polanksi corrects her adding "I'm not talking about hairdressers, plumbers, or people running small businesses. This is not a tax on ambition, this is a tax on people earning more money in their sleep than any of us could earn in our lifetime" When PoliticsLive play Keir Starmer referring to those calling for a wealth tax as snake oil salesmen, Polanski responds, "We need to bring CGT in line with income tax.. It's not just about a wealth tax" "Every single pound we spend on public investment multiplies itself" "It's outrageous as a country where people say the rich will get away with it. Well let's let them not get away with it. Let's make sure we tax people properly" "This idea of austerity, trickle down economics, whether it's Thatcher, Blair, Cameron, Truss, Starmer, it has failed and failed, time and again" "It's time for a new economic model and to turn our country around"

Zack Polanski making the case for a wealth tax Penny Mordaunt comes up with some random figures Polanksi corrects her adding "I'm not talking about hairdressers, plumbers, or people running small businesses. This is not a tax on ambition, this is a tax on people earning more money in their sleep than any of us could earn in our lifetime" When PoliticsLive play Keir Starmer referring to those calling for a wealth tax as snake oil salesmen, Polanski responds, "We need to bring CGT in line with income tax.. It's not just about a wealth tax" "Every single pound we spend on public investment multiplies itself" "It's outrageous as a country where people say the rich will get away with it. Well let's let them not get away with it. Let's make sure we tax people properly" "This idea of austerity, trickle down economics, whether it's Thatcher, Blair, Cameron, Truss, Starmer, it has failed and failed, time and again" "It's time for a new economic model and to turn our country around"

Farrukh

411,298 görüntüleme • 10 ay önce

Camilla Tominey humiliated on #BBCQT Gary Stevenson explains how we have given away national assets to rich people, so we should tax rich people Camilla Tominey dismisses the call to tax rich people by saying everyone pays taxes Gary Stevenson explains to tax the rich on their wealth Camilla Tominey says taxing the rich doesn't work, then cites European efforts to do so, she cites Norway But Norway haven't scrapped their wealth tax - In 2021 Norway raised the wealth tax from 0.85% to 1.0%, and to 1.1% for the richest. Their wealth tax brings in 34.5 billion kroner (about £2 billion) Gary Stevenson answers citing the second home stamp duty tax brought in by the Conservatives which has a loophole exempting those who buy 7 homes or more at once citing Jeremy Hunt Fiona Bruce says she doesn't know if he did or didn't buy 7 homes In 2018 Jeremy Hunt bought 7 flats in Southampton, doing go he made use of the loophole and saved over £100,000 in stamp duty tax. Not only did he do this, but Hunt didn't initially declare the purchase. This was a big story, surprised Bruce didn't know about it Gary Stevenson then explains how these loopholes mean rich people avoid paying tax, and its everyday people who end up paying more Camilla Tominey now humiliated over the idea of a wealth tax, then shifts her position wondering if wealth taxes will go to the poorest and not train drivers who are better paid She's trying to compare millionaires with non millionaires to suggest that we shouldn't tax more millionaires This is like saying, can you guarantee that leaving the EU will drop immigration. Well it could have, but it didn't because the people who convinced others to Brexit, like Boris Johnson, increased legal immigration to this country She also knows that tax today is specifically allocated to specific causes, so she's trying to create a reason not to tax the rich In reality, the way any tax is allocated to spending is down to any specific government policy, so it isn't whether we do or dont have a wealth, it's whether government choses a policy that allocates the additional income that is earned But also, and this is the crucial part, she started saying that wealth taxes don't work, and then she ends saying that you can't guarantee that they will go to those who need it the most - these are two different positions, and the second one nullifies the first as its an admission that wealth taxes could work but she dismisses them because they may not go to those most in need If a wealth tax, helps society in any way, it has worked e.g. fixing potholes that benefits everyone, including the poorest The extent to which people go to to dismiss wealth taxes on the rich is astonishing, tragic, and it is only our society that loses out by not doing so

Camilla Tominey humiliated on #BBCQT Gary Stevenson explains how we have given away national assets to rich people, so we should tax rich people Camilla Tominey dismisses the call to tax rich people by saying everyone pays taxes Gary Stevenson explains to tax the rich on their wealth Camilla Tominey says taxing the rich doesn't work, then cites European efforts to do so, she cites Norway But Norway haven't scrapped their wealth tax - In 2021 Norway raised the wealth tax from 0.85% to 1.0%, and to 1.1% for the richest. Their wealth tax brings in 34.5 billion kroner (about £2 billion) Gary Stevenson answers citing the second home stamp duty tax brought in by the Conservatives which has a loophole exempting those who buy 7 homes or more at once citing Jeremy Hunt Fiona Bruce says she doesn't know if he did or didn't buy 7 homes In 2018 Jeremy Hunt bought 7 flats in Southampton, doing go he made use of the loophole and saved over £100,000 in stamp duty tax. Not only did he do this, but Hunt didn't initially declare the purchase. This was a big story, surprised Bruce didn't know about it Gary Stevenson then explains how these loopholes mean rich people avoid paying tax, and its everyday people who end up paying more Camilla Tominey now humiliated over the idea of a wealth tax, then shifts her position wondering if wealth taxes will go to the poorest and not train drivers who are better paid She's trying to compare millionaires with non millionaires to suggest that we shouldn't tax more millionaires This is like saying, can you guarantee that leaving the EU will drop immigration. Well it could have, but it didn't because the people who convinced others to Brexit, like Boris Johnson, increased legal immigration to this country She also knows that tax today is specifically allocated to specific causes, so she's trying to create a reason not to tax the rich In reality, the way any tax is allocated to spending is down to any specific government policy, so it isn't whether we do or dont have a wealth, it's whether government choses a policy that allocates the additional income that is earned But also, and this is the crucial part, she started saying that wealth taxes don't work, and then she ends saying that you can't guarantee that they will go to those who need it the most - these are two different positions, and the second one nullifies the first as its an admission that wealth taxes could work but she dismisses them because they may not go to those most in need If a wealth tax, helps society in any way, it has worked e.g. fixing potholes that benefits everyone, including the poorest The extent to which people go to to dismiss wealth taxes on the rich is astonishing, tragic, and it is only our society that loses out by not doing so

Farrukh

496,723 görüntüleme • 1 yıl önce

Jordan Peterson starred in this video with one brutal line: “Ontario inhabitants are now poorer per capita than inhabitants of Mississippi — the poorest American state.” Then a TikTok creator (@matpiche) decided to actually check the numbers. After tax, the median household in Ontario is left with about $48,000 USD. In Mississippi? Roughly $50,000. Average house in Mississippi? Around $200k. Average house in Ontario? $600k+ for something worse. Top tax rate in Ontario can hit over 50%. In Mississippi you’re lucky to pay over 25%. This isn’t theory. This is what happens when you tax the middle class into the ground, flood the country with low-skill immigration, and watch productivity collapse under 11 years of Liberal mismanagement. Jordan Peterson was right, again!

Jordan Peterson starred in this video with one brutal line: “Ontario inhabitants are now poorer per capita than inhabitants of Mississippi — the poorest American state.” Then a TikTok creator (@matpiche) decided to actually check the numbers. After tax, the median household in Ontario is left with about $48,000 USD. In Mississippi? Roughly $50,000. Average house in Mississippi? Around $200k. Average house in Ontario? $600k+ for something worse. Top tax rate in Ontario can hit over 50%. In Mississippi you’re lucky to pay over 25%. This isn’t theory. This is what happens when you tax the middle class into the ground, flood the country with low-skill immigration, and watch productivity collapse under 11 years of Liberal mismanagement. Jordan Peterson was right, again!

JayGen 𝕏 er🇨🇦

73,645 görüntüleme • 23 gün önce

What are Treasury hiding? It’s bad enough that Superannuation funds are buying our Infrastructure and Public assets like titles offices. They are also owning a larger share of listed companies. When Costello started refunding franking credits in 2000, there was less than $500 billion in Superannuation. Today there is more than $4 trillion in superannuation. It is expected there will be almost $10 trillion by 2050. This is eroding the overall company tax base as company tax is refunded to superannuation funds via franking credits because retirees pay no tax on their superannuation income in retirement. The Treasury are claiming they don’t think this is impacting the net company tax rate. I.e. Company tax less franking credits but it is. I’ve read that the net company tax rate is now as low as 13 cents in the dollar and is forecast to fall below 10 cents as Superannuation gets bigger and more people retire. As the net company tax rate gets lower, the tax burden is being picked up by wage earners through bracket creep who have less take home pay. This is also impacting productivity as companies offshore their labor increase of paying higher labor taxes. Serious questions need to be asked why Treasury doesn’t know this number as it is impacts budget settings and what they are going to do about. It’s not good enough to claim they don’t know what the answer is. #auspol

What are Treasury hiding? It’s bad enough that Superannuation funds are buying our Infrastructure and Public assets like titles offices. They are also owning a larger share of listed companies. When Costello started refunding franking credits in 2000, there was less than $500 billion in Superannuation. Today there is more than $4 trillion in superannuation. It is expected there will be almost $10 trillion by 2050. This is eroding the overall company tax base as company tax is refunded to superannuation funds via franking credits because retirees pay no tax on their superannuation income in retirement. The Treasury are claiming they don’t think this is impacting the net company tax rate. I.e. Company tax less franking credits but it is. I’ve read that the net company tax rate is now as low as 13 cents in the dollar and is forecast to fall below 10 cents as Superannuation gets bigger and more people retire. As the net company tax rate gets lower, the tax burden is being picked up by wage earners through bracket creep who have less take home pay. This is also impacting productivity as companies offshore their labor increase of paying higher labor taxes. Serious questions need to be asked why Treasury doesn’t know this number as it is impacts budget settings and what they are going to do about. It’s not good enough to claim they don’t know what the answer is. #auspol

Gerard Rennick

15,199 görüntüleme • 1 yıl önce

BREAKING: Jake Tapper: “…why were you worried about offending people who support the Ayatollah?” Abdul El-Sayed: “Jake, on a day where we’re mourning the loss of two more service members in a war we never should have fought I think all of us ought to step back and ask whether or not everybody in Michigan, frankly everybody in America shouldn’t be sad about the fact that this president backed by the prime minister of a foreign government took us to a war we had no business fighting in. So yeah, I didn’t want to comment on it then because it’s a ridiculous pretext, and now you’re asking me about the Ayatollah who’s dead by the way, and you’re not asking me about the service members who’ve died. You’re not asking me about whether or not this war should have ever been fought. You’re not asking me about whether or not the costs that are being borne by Michiganders in the tax dollars we pay or the gas prices that are insane right now, are worth it…”😳

BREAKING: Jake Tapper: “…why were you worried about offending people who support the Ayatollah?” Abdul El-Sayed: “Jake, on a day where we’re mourning the loss of two more service members in a war we never should have fought I think all of us ought to step back and ask whether or not everybody in Michigan, frankly everybody in America shouldn’t be sad about the fact that this president backed by the prime minister of a foreign government took us to a war we had no business fighting in. So yeah, I didn’t want to comment on it then because it’s a ridiculous pretext, and now you’re asking me about the Ayatollah who’s dead by the way, and you’re not asking me about the service members who’ve died. You’re not asking me about whether or not this war should have ever been fought. You’re not asking me about whether or not the costs that are being borne by Michiganders in the tax dollars we pay or the gas prices that are insane right now, are worth it…”😳

Emoluments Clause

1,240,337 görüntüleme • 19 gün önce

Only Iain Black will cut your income taxes by 20%. But I’ll be honest, I’m perplexed. A lot of time was spent questioning whether we should deliver a 20% personal income tax cut. Let’s be clear: 1. We’re Conservatives. We believe your money is better in your pocket, not government’s. 2. Tax cuts work. In 2001, after a decade of economic decline, B.C. cut personal income taxes by 25%. Within a few short years, we went from last place to the strongest economy in Canada - and revenues rebounded. 3. Incrementalism won’t fix this. The challenges facing B.C. are too big. Too urgent. Too entrenched. If we don’t think BOLD - if we don’t act decisively - we’ll keep watching people leave and jobs disappear. We can do better. And under my leadership, we will. Let’s get B.C. back on track.

Only Iain Black will cut your income taxes by 20%. But I’ll be honest, I’m perplexed. A lot of time was spent questioning whether we should deliver a 20% personal income tax cut. Let’s be clear: 1. We’re Conservatives. We believe your money is better in your pocket, not government’s. 2. Tax cuts work. In 2001, after a decade of economic decline, B.C. cut personal income taxes by 25%. Within a few short years, we went from last place to the strongest economy in Canada - and revenues rebounded. 3. Incrementalism won’t fix this. The challenges facing B.C. are too big. Too urgent. Too entrenched. If we don’t think BOLD - if we don’t act decisively - we’ll keep watching people leave and jobs disappear. We can do better. And under my leadership, we will. Let’s get B.C. back on track.

Iain Black

11,257 görüntüleme • 2 ay önce

Washington state has one of the most vibrant tech communities in the world, but it's under threat from the new anti-tech, anti-innovation, capital gains tax, passed in 2021. I was curious how tech workers felt about this tax so I visited Microsoft and Amazon (see video below). What I learned shocked me. Many employees of these companies (who receive a large portion of them compensation in the form of stock) were not even aware that Washington's legislature had passed a capital gains tax that would affect them. This was not by accident. Politicians in Olympia designed the tax to initially apply to a fairly small set of people (the threshold at which it applies is $250,000). For years they had attempted to create a widespread income tax in WA by initiative, but they were repeatedly voted down by Washingtonians. But once they found a way to open the door to this new capital gains tax (by absurdly claiming it's not an income tax, but an excise tax), they immediately set to work on making it more widespread. Bill 5335 has been introduced to modify the capital gains tax so that the threshold at which applies will drop to $15,000 (a 94% drop, massively expanding the net of people it applies to), while increasing the rate from 7% to 8.5%. The increase in rate would mean that Washingtonians would see a greater than 50% increase in their tax burden on capital gains (sale of stocks, bonds, cryptocurrencies and other assets such as small businesses). When I explained these facts to the tech employees I met at Microsoft and Amazon most of them supported a repeal of the capital gains tax. We have one chance to get Washington back to its long tradition of not punishing success and welcoming the world's best and brightest to our state. This election, please vote Yes on initiative I-2109. Vote yes, Pay less.

Washington state has one of the most vibrant tech communities in the world, but it's under threat from the new anti-tech, anti-innovation, capital gains tax, passed in 2021. I was curious how tech workers felt about this tax so I visited Microsoft and Amazon (see video below). What I learned shocked me. Many employees of these companies (who receive a large portion of them compensation in the form of stock) were not even aware that Washington's legislature had passed a capital gains tax that would affect them. This was not by accident. Politicians in Olympia designed the tax to initially apply to a fairly small set of people (the threshold at which it applies is $250,000). For years they had attempted to create a widespread income tax in WA by initiative, but they were repeatedly voted down by Washingtonians. But once they found a way to open the door to this new capital gains tax (by absurdly claiming it's not an income tax, but an excise tax), they immediately set to work on making it more widespread. Bill 5335 has been introduced to modify the capital gains tax so that the threshold at which applies will drop to $15,000 (a 94% drop, massively expanding the net of people it applies to), while increasing the rate from 7% to 8.5%. The increase in rate would mean that Washingtonians would see a greater than 50% increase in their tax burden on capital gains (sale of stocks, bonds, cryptocurrencies and other assets such as small businesses). When I explained these facts to the tech employees I met at Microsoft and Amazon most of them supported a repeal of the capital gains tax. We have one chance to get Washington back to its long tradition of not punishing success and welcoming the world's best and brightest to our state. This election, please vote Yes on initiative I-2109. Vote yes, Pay less.

Vijay

63,045 görüntüleme • 1 yıl önce