NYT Call Harris a phoney

[Larniavc]

No - I am a Conservative Republican. Not sure how you made that error.

Did you say that the GOP over 8 years ago was not representative of the current incarnation? Which I presume you support.

 

[QvQ]

According to whom?

The property/wealth tax issue has been before the Courts many time.

However, if you are referring to "unrealized capital gain taxation" as being proposed to apply to all property, this has been simmering in the Democrat's pot for some time.

 

[Oompa Loompa]

The New York Times turns on Kamala Harris and slams her as 'a phony'​

The reliably liberal New York Times was among the first to suddenly change tack on Friday, taking aim at what many perceive to be Harris's fatal lack of clear policy with a brutal headline that read: 'Joy Is Not a Strategy'. In a sour commentary, NYT Deputy Opinion Editor Patrick Healy said he'd 'cringed' when former president Bill Clinton took the convention stage on Tuesday to claim that Harris would be 'the president of joy'

What? You are not feeling the Joy?

 

[Oompa Loompa]

Why not take the article from the actual paper?

It is an opinion piece. But here you go.

Everything has to be connected to the deeper case that Ms. Harris is weak and a phony and doesn’t truly care about the country or the middle class. The scattershot Trump attacks on Ms. Harris need to be refocused on these character attributes.

To wit: Ms. Harris was too weak to win the Democratic primary contest that year. She was too weak to keep from telling the left practically everything it wanted to hear when she ran in 2019. She is too weak to hold open town-hall events or do extensive — or, at the moment, any — sit-down media interviews.

Opinion | Trump Can Win on Character

Presidential races are won and lost on character as much as the issues, and often the issues are proxies for character.

www.nytimes.com

 

[Belk]

The property/wealth tax issue has been before the Courts many time.

However, if you are referring to "unrealized capital gain taxation" as being proposed to apply to all property, this has been simmering in the Democrat's pot for some time.

Again, according to whom? Who is proposing this apply to all property?

 

[QvQ]

Again, according to whom? Who is proposing this apply to all property?

Taxing unrealized capital gains was proposed by Elizabeth Warren and Bernie Sanders. Biden adopted it in 2022.
If this were allowed, a property tax on unrealized gains on millionaires, and was found to be Constitutional, how long before it is applied equally to all?

"While Democrats claim this plan would only hit 700 taxpayers, it’s likely that this tax would grow to hit millions of Americans.
Congress enacted the Alternate Minimum Tax (AMT) in 1969. They targeted 155 people with adjusted gross income above $200,000 who legally paid zero federal income tax due to their large purchases of municipal bonds.
But the AMT grew so large that, by 2010, 30 million Americans (20 percent of filers) were in the crosshairs of the tax. Congress then had to step in a reduce the scope of the tax."

This article is from 2022

https://thehill.com/opinion/finance/3487486-bidens-tax-on-unrealized-gains-will-hit-far-more-taxpayers-than-he-claims/

This is not a new idea in the Democrat camp. There are rumors Biden proposed a 3% Federal property tax in one of the huge spending bills but no direct evidence of that has been presented.

 

[Belk]

Taxing unrealized capital gains was proposed by Elizabeth Warren and Bernie Sanders. Biden adopted it in 2022.
If this were allowed, a property tax on unrealized gains on millionaires, and was found to be Constitutional, how long before it is applied equally to all?

"While Democrats claim this plan would only hit 700 taxpayers, it’s likely that this tax would grow to hit millions of Americans.
Congress enacted the Alternate Minimum Tax (AMT) in 1969. They targeted 155 people with adjusted gross income above $200,000 who legally paid zero federal income tax due to their large purchases of municipal bonds.
But the AMT grew so large that, by 2010, 30 million Americans (20 percent of filers) were in the crosshairs of the tax. Congress then had to step in a reduce the scope of the tax."

This article is from 2022

https://thehill.com/opinion/finance/3487486-bidens-tax-on-unrealized-gains-will-hit-far-more-taxpayers-than-he-claims/

This is not a new idea in the Democrat camp. There are rumors Biden proposed a 3% Federal property tax in one of the huge spending bills but no direct evidence of that has been presented.

Ah, so according to those who wish to paint it in a giant slippery slope, not actual Democrats. Much as I thought. Thank you for the link.

 

[Desk trauma]

Taxing unrealized capital gains was proposed by Elizabeth Warren and Bernie Sanders. Biden adopted it in 2022.
If this were allowed, a property tax on unrealized gains on millionaires, and was found to be Constitutional, how long before it is applied equally to all?

If it follows example of the estate tax, never.

 

[Servus]

Harris is a phony; is that supposed to be news?

 

[Always in His Presence]

Did you say that the GOP over 8 years ago was not representative of the current incarnation? Which I presume you support.

No - I personally have not had intoxicating beverages since Jesus delivered me in 1987.

 

[QvQ]

If it follows example of the estate tax, never.

Estate Taxes:
Democrats plan to end Step Up in Estate Taxes.
Step Up means someone who inherits assets from a deceased parent, for example, does not have to pay taxes on how much those assets appreciated since they were purchased. Instead, the person who inherits the assets has to pay taxes on the gains only from the time they were inherited — and only once they are sold.

Ms. Harris has endorsed a plan to tax the gains on those assets at the original owner’s death, though several exemptions would apply, including when a surviving spouse inherits the assets.

The democrats have been talking about "generational wealth," how to seize and redistribute that wealth through the government rather than through inheritance.

This information is from an article by the NYT

What We Know About Kamala Harris’s $5 Trillion Tax Plan So Far

The vice president supports the tax increases proposed by the Biden White House, according to her campaign.

www.nytimes.com

 

[wing2000]

The New York Times turns on Kamala Harris and slams her as 'a phony'​

The reliably liberal New York Times was among the first to suddenly change tack on Friday, taking aim at what many perceive to be Harris's fatal lack of clear policy with a brutal headline that read: 'Joy Is Not a Strategy'. In a sour commentary, NYT Deputy Opinion Editor Patrick Healy said he'd 'cringed' when former president Bill Clinton took the convention stage on Tuesday to claim that Harris would be 'the president of joy'

Are you going to correct the the misleading thread title?

Your author is full of it. They didn't "turn on" her and call her a phony. It was a conservative guest columnist who did that.
Here's a link to the first op-ed that actually said this:


It's not even a "sour commentary" - it's more a reminder that there's still work to be done, which he acknowledges that Harris is doing.

Regarding Rich Lowry - of course he would have a negative opinion of what Harris values. He's the editor in chief of National Review.

 

[Desk trauma]

Estate Taxes:
Democrats plan to end Step Up in Estate Taxes.
Step Up means someone who inherits assets from a deceased parent, for example, does not have to pay taxes on how much those assets appreciated since they were purchased. Instead, the person who inherits the assets has to pay taxes on the gains only from the time they were inherited — and only once they are sold.

Ms. Harris has endorsed a plan to tax the gains on those assets at the original owner’s death, though several exemptions would apply, including when a surviving spouse inherits the assets.

The democrats have been talking about "generational wealth," how to seize and redistribute that wealth through the government rather than through inheritance.

This information is from an article by the NYT

What We Know About Kamala Harris’s $5 Trillion Tax Plan So Far

The vice president supports the tax increases proposed by the Biden White House, according to her campaign.

www.nytimes.com

Pay walled but I’m doubtful the article includes changing the inheritance tax from estates over 13 million to all estates.

 

[QvQ]

Pay walled but I’m doubtful the article includes changing the inheritance tax from estates over 13 million to all estates.

Inheritance tax is any tax you pay on inherited property:
Currently, estates under a certain value are not taxed as capital gains at time of death.
For Example:
Your dad bought a house for $50,000
Your dad dies. The house is worth $100,000,
Now, with step up, you don't pay any inheritance tax (capital gains) unless you sell the house for more than it was worth when you inherited it.

Harris proposes that at the time of your father's death, you must immediately pay Inheritance Tax on the $50,000 increase in the value of your dad's house whether you sell the house or not.

THAT IS AN INCREASE IN INHERITANCE TAX and it applies to all estates. And it applies to all assets of the estate.

You would pay the unrealized capital gain on $50,000 that accrued to the house during your dad's lifetime and that tax would be due immediately, whether you sell the house or not.
THAT IS INHERITANCE TAX and Harris wants it on Every Estate....

So, yes. The article does include changing the inheritance tax from estates over 13 million to all estates.

As reported previously by CNBC:

“When someone dies and the asset transfers to an heir, that transfer itself will be a taxable event, and the estate is required to pay taxes on the gains as if they sold the asset,” said Howard Gleckman, senior fellow in the Urban-Brookings Tax Policy Center.

 

[Always in His Presence]

Are you going to correct the the misleading thread title?

Not unless the author does -

 

[Desk trauma]

Inheritance tax is any tax you pay on inherited property:
Currently, estates under a certain value are not taxed as capital gains at time of death.
For Example:
Your dad bought a house for $50,000
Your dad dies. The house is worth $100,000,
Now, with step up, you don't pay any capital gains (inheritance tax) unless you sell the house for more than it was worth when you inherited it.

Harris proposes that at the time of your father's death, you must immediately pay Inheritance Tax on the $50,000 increase in the value of your dad's house during his lifetime whether you sell the house or not.

THAT IS AN INCREASE IN INHERITANCE TAX and it applies to all estates. And it applies to all assets of the estate.

You would pay the unrealized capital gain on $50,000 that accrued to the house during your dad's lifetime and that tax would be due immediately, whether you sell the house or not.
THAT IS INHERITANCE TAX and Harris wants it on Every Estate....

Skipping the part about the threshold restricting that to sums in the tens of millions?

 

[QvQ]

Skipping the part about the threshold restricting that to sums in the tens of millions?

It is not restricted. It would apply to all estates. Although when the Democrats tried to pass an end to the step up, it was capped at 1 million and had provisions for family farms. That was when Biden first proposed it.
As Harris proposes it, it would apply to all estates. It would be basically an income tax and at the same rate.
It is not the "restricted to 13 million that you have stated. The 13 million is set to expire next year, reverting to the 5.5 million cap.
Anyone who has an estate over 5.5 million will pay both the inheritance tax and the capital gains (inheritance tax)
This is double taxation which is what the step up was created to avoid in the first place.

 

[Desk trauma]

It is not restricted. It would apply to all estates. Although when the Democrats tried to pass an end to the step up, it was capped at 1 million and had provisions for family farms. That was when Biden first proposed it.
As Harris proposes it, it would apply to all estates. It would be basically an income tax and at the same rate.
It is not the "restricted to 13 million that you have stated. The 13 million is set to expire next year, reverting to the 5.5 million cap.
Anyone who has an estate over 5.5 million will pay both the inheritance tax and the capital gains (inheritance tax)
This is double taxation which is what the step up was created to avoid in the first place.

Oh the poor down trodden multi millionaires.

 

[Bradskii]

It is not restricted. It would apply to all estates.

From here: Presidential Candidate Kamala Harris Estate Proposals - HBK

'Under Harris’ proposal the amount a married couple could pass to their family without estate tax would be reduced to $7 million.'

 

[Desk trauma]

From here: Presidential Candidate Kamala Harris Estate Proposals - HBK

'Under Harris’ proposal the amount a married couple could pass to their family without estate tax would be reduced to $7 million.'

The horror.