The Soapbox

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Why didn't they make that taxes on alcohol? Lot more drinkers than smokers.

And plenty of health related costs to drinking.

Or how about those that want to set their A/C's below 78 degrees, or heat above 68? Tax revenue and can attack that "existential crisis" of Climate Change at the same time! A win, win!

Oh yeah, that wouldn't work so well in the divide us vs them populist politics world.

I'm not a smoker or user of e-cigs, so I have no dog in that hunt, but you can't deny that's a) a regressive tax and b) more poor and working class tend to smoke.

(In response to this post by NJHoo)

Posted: 09/13/2021 at 4:17PM

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Current Thread:

Hiding $3 Trillion in Proposed Tax Increases and Top Marg Tax of 59.7% -- orangenblue 09/13/2021 3:18PM

There’s a lot of good data in there but some of the arguments are so -- 111Balz 09/13/2021 5:52PM

I don't agree with everything in the article, but point of hiding details & -- orangenblue 09/13/2021 6:41PM

How is it being hidden? Obviously that information is available ** -- 111Balz 09/13/2021 6:43PM

Well...according to the article it was leaked...and to quote -- orangenblue 09/13/2021 7:09PM

I really don’t care what Neal says. Remind me to much of Pelosi’s missed qu -- 111Balz 09/13/2021 7:39PM

Seems like it would be a good idea for voters to have an idea, not staffers -- orangenblue 09/14/2021 11:54AM

I agree it’s a lot of money and shouldn’t be committed to lightly -- 111Balz 09/14/2021 12:16PM

Don't worry, There's not a chance in Hell that this blll passes ** -- Hoogle.com 09/13/2021 5:10PM

The married couple “gotcha” seems weak. -- BocaHoo91 09/13/2021 4:19PM

Seems like a strong point to me; will impact a lot of people in SF, NYC, DC -- orangenblue 09/13/2021 4:50PM

We agreed 25 years ago that those folks shall never be impacted. That’s for -- Molina 09/13/2021 5:52PM

That’s a different point. Saying no one making -- BocaHoo91 09/13/2021 4:58PM

It may not be rich in some cities, but it’s very well-off, and the tax kick -- 111Balz 09/13/2021 6:50PM

The proposed top rate on capital gains is 25%, up from the current 20%. -- PBCHoo 09/13/2021 4:31PM

I thought some historical perspective on capital gains would be useful. -- southdenverhoo 09/13/2021 5:57PM

You do have to add on the ACA surtax of 3.8%. So at a 25% LTCG -- BocaHoo91 09/13/2021 7:15PM

Any discussion of taxing carried interest as ordinary? -- tchoo 09/13/2021 4:41PM

Yeah, other than the PE and hedge fund -- BocaHoo91 09/13/2021 4:45PM

Every elected official who solicits donations from the above ** -- Beerman 09/13/2021 4:48PM

I guess. But there are a lot more rich people that aren't in a position -- BocaHoo91 09/13/2021 5:08PM

Also lots of embarrassed millionaires out there -- Beerman 09/13/2021 5:12PM

Good to know. At the same $400k/$450k threshold, -- BocaHoo91 09/13/2021 4:36PM

Same income threshold. -- PBCHoo 09/13/2021 4:47PM

Interesting. Lived in the house from -- BocaHoo91 09/13/2021 4:53PM

Your analysis is correct. See IRC § 121(b)(5). ** -- PBCHoo 09/13/2021 5:00PM

Thanks. The other option is to rent it until the kids go off to -- BocaHoo91 09/13/2021 5:06PM

One other option... -- PBCHoo 09/13/2021 5:11PM

Sounds like responsible leadership to pay for your spending increases vs. -- tchoo 09/13/2021 3:40PM

What about re-allocating spending to most beneficial uses? We waste too -- orangenblue 09/13/2021 4:22PM

Lets do both? -- tchoo 09/13/2021 4:28PM

Agree. ** -- 111Balz 09/13/2021 5:18PM

Silly post -- TomKazanski 09/13/2021 5:00PM

There is a penalty long term to wasting money. Bankruptcy and activist -- orangenblue 09/13/2021 4:36PM

It’s my belief that waste builds over a company lifecycle. -- 111Balz 09/13/2021 5:22PM

Doesn't work. Totally different incentive structure. ** -- Los Angeles Hoo 09/13/2021 4:40PM

What doesn't work? ** -- orangenblue 09/13/2021 4:52PM

Your second paragraph... -- Los Angeles Hoo 09/13/2021 5:19PM

I completely agree with you....but we should recognize the dynamic -- orangenblue 09/13/2021 5:46PM

Agreed, but you are referring to a sane world and not the world in which... -- Los Angeles Hoo 09/13/2021 6:12PM

Unfortunately, I agree ** -- orangenblue 09/13/2021 6:42PM

Yes, tax the rich. That’s good policy that the left supports. ** -- WahooMatt05 09/13/2021 3:33PM

I know they are trying to close the loopholes that the very rich use to -- Wahoos6 09/13/2021 4:28PM

There are some loopholes that absolutely should be closed even -- orangenblue 09/13/2021 4:42PM

Carried interest is the big one that comes to mind for me. If there are -- BocaHoo91 09/13/2021 5:11PM

Carried interest is also what I had in mind.... ** -- orangenblue 09/13/2021 5:44PM

$450K for married filing jointly in NYC doesn't seem "rich" considering COL -- orangenblue 09/13/2021 4:18PM

Oh, please. ** -- DanTheFan 09/13/2021 6:02PM

$450K seems pretty rich to me. -- tchoo 09/13/2021 4:20PM

They're not struggling to pay the bills, but in most of California and in -- BocaHoo91 09/13/2021 5:13PM

If you want to live in the hottest part of town, you don't get much for -- WahooRQ 09/13/2021 7:26PM

Not struggling is your definition of "rich"? Factor in two kids in college -- orangenblue 09/13/2021 4:31PM

I wonder how many people in this country live in a place where -- southdenverhoo 09/13/2021 4:51PM

450K a year is not a "struggle" for anyone anywhere. You may not get to -- WahooRQ 09/13/2021 7:13PM

"Struggle" isn't the right word....but being tight is .... -- orangenblue 09/13/2021 7:05PM

No, every dollar isn’t taxed at 45%, which is what you did to take 450K to -- southdenverhoo 09/14/2021 07:31AM

Those are choices on how to spend your money and where. I fully understand -- 111Balz 09/13/2021 9:05PM

I would have no problem tying the tax hike threshold to regional COL. ** -- SixerHoo 09/13/2021 4:35PM

I love that in theory but can you imagine the games people would -- 81_Hokie 09/13/2021 5:17PM

Yes, problematic in practice. ** -- SixerHoo 09/13/2021 5:20PM

All those rich smokers and hourly laborers? -- Hoodafan 09/13/2021 3:38PM

Frankly, who gives a rip about smokers? If they don’t want to pay the tax… -- SixerHoo 09/13/2021 4:07PM

If deficits are bad, we need to tax someone. Those with the most -- WahooMatt05 09/13/2021 3:41PM

Maybe we should first figure out what is wasted/inefficient and reallocate -- orangenblue 09/13/2021 4:38PM

Military spending should be number one on the chopping block. -- WahooMatt05 09/13/2021 4:48PM

Sounds like you are arguing to pass something that the electorate would -- orangenblue 09/13/2021 4:59PM

Dems are going to lose because of gerrymandering, not based on policies -- WahooMatt05 09/13/2021 5:05PM

Seems like over reach for a party that has 50/50 senate to jam -- orangenblue 09/13/2021 6:46PM

Merrick Garland says hi. ACB says hi. Killing Obamacare says hi.** -- WahooMatt05 09/13/2021 6:53PM

I didn't agree with what happened to Merrick Garland either...though -- orangenblue 09/13/2021 7:13PM

But then ACB was the reverse -- WahooMatt05 09/13/2021 8:23PM

Nooooooooooooooooo!!!!! ** -- Hokieesith 09/13/2021 4:39PM

With regressive nicotine taxes and "hiding" corporate taxes that first and -- Hoodafan 09/13/2021 4:01PM

No one is forced to pay regressive nicotine taxes ** -- NJHoo 09/13/2021 4:11PM

Why didn't they make that taxes on alcohol? Lot more drinkers than smokers. -- Hoodafan 09/13/2021 4:17PM

It’s not a regressive tax, and I’m not sure your assertion about who smokes -- 111Balz 09/13/2021 5:40PM

Why not both? ** -- SixerHoo 09/13/2021 4:41PM

Pssst, there was this pandemic in 2020 and millions of people -- 111Balz 09/13/2021 4:07PM

Bunch more gonna be unemployed due to vaccine mandates ** -- FrankGallagher 09/13/2021 5:00PM

That’s their choice ** -- 111Balz 09/13/2021 5:13PM

The definition of rich is going to change...Good Afternoon Rich People !!! ** -- Tuckahokie 09/13/2021 3:34PM

Yes, it will include upper middle class and with inflation even more. ** -- orangenblue 09/13/2021 4:41PM

Bbbut he's a moderate! ** -- Hoodafan 09/13/2021 3:30PM

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