Comments by "Jeremy Barlow" (@jeremybarlow2291) on "How Joe Biden's Tax Plan Will Raise Your Taxes" video.

  1. Even if Joe Biden is elected with a supermajority his tax plan will NEVER RAISE TAXES on wealthy Americans. It may raise taxes on the working class, but never wealthy Americans because of how US elections are funded and who controls both parties through campaign purse strings.
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  2. I would make a bet that the Tax Fairness for Americans Abroad Act has a better chance of passing in the next 4 years than an increased tax on the wealthy. A) the Democrats will never end the Social Security cap, because it is too easy for real business owners to avoid the tax by taking their earnings in dividends, while even though loan-out companies make it relatively easy for celebrity actors, musicians, and athletes to avoid as well, it could hurt new celebrities who haven't put their financial plans in place and there is no way the Democratic Party is going to hurt their donor base B) Making a case for ending Taxation Without Representation strengthens the case to admit Puerto Rico and DC as States. The Tax Fairness for Americans Abroad Act creates a new valuable loophole for the Uber wealthy that the Democratic and Republican donor base highly support. If rates were to go up, the TFAAA would definitely be the pressure relief valve for the Uber wealthy. You would almost immediately see a Mark Cuban, a Mark Zuckerberg, and a Bill Gates dividing their time between newly acquired homes or previously owned homes in the Bahamas, St. Kitts, Guernsey, Gibraltar, Anguilla, BVI, Vanuatu, European residences, New Zealand, Australia, and South and Central America deploying your Trifecta strategy while their tax residence is an Anguilla, UAE, BVI, St. Kitts, Gibraltar, Monaco, Guernsey, Jersey, Isle of Mann or some other baseline zero tax or territorial taxed residence where they have no business holdings. I mean Singapore, Malaysia, Thailand, Panama, the Philippines all with high top line, but purely territorial taxes would be common place. New beach house construction in the Caymans would boom.
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  3.  @dlukton  economically Ginsburg has handed down some of the most conservative opinions in the history of the court. Every federal district, appellate, and Supreme court judge since the Nixon Administration, regardless of party has been approved by the US Chamber of Commerce before any Senator or Representative recommended them for nomination to the White House.
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  4. There is already case law regarding the "wealth tax," unless there is an amendment, it is unconstitutional. The precedent is in the "recognition" requirements of the income tax for imposition of a capital gains tax. Those requirements are court imposed. The Republican party controls almost a supermajority of state legislatures so any such amendment would be dead on arrival.
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