Making the Top 1% Its Own Tax Class April 27, 2021 7:52am by Barry Ritholtz
Spoiler alert: Forget the 40% capital gains rate its DOA, merely misdirection, designed to distract from the real show. My best deductive reasoning leads me to conclude the administration has decided that the 1% have amassed so much money and power, that they deserve their own (higher) tax bracket.
That is the philosophy behind the new cap gains proposal:
Treat the top 1% as unique, and tax them accordingly.
Allow me to share my thinking about the proposed doubling of the capital gains tax rate to 40%. I am not going to weigh in on whether or not I support it
It’s not enough to open the streets
America needs alternatives to individual car ownership and fast
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As cars flood back into the once-empty streets of the early days of the pandemic, and affluent urbanites are forced out of their open street canopies and cabanas, a weak public outcry can be heard: Open the streets for pedestrians!
But this is really a structural problem. Sure, cities should be centered around pedestrians rather than cars. But there are larger issues at stake for those living on the outskirts of the cities, lower-income neighborhoods or industrial areas, where bougie outdoor restaurants are nowhere to be found. Not even during COVID-19 did their streets become closed off pedestrian hubs. For most Americans, cars carry a hell of a lot of loaded class issues.
Mike Luckovich for April 25, 2021 gocomics.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gocomics.com Daily Mail and Mail on Sunday newspapers.
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Like his immediate predecessor, Joe Biden is committed to a distinctly anti-China global strategy and has sworn that China will not “become the leading country in the world, the wealthiest country in the world, and the most powerful country in the world…on my watch.” In the topsy-turvy universe created by the Covid-19 pandemic, it was, however, Jamie Dimon, the CEO and chairman of JP Morgan Chase, a banking giant with assets of $3.4 trillion, who spoke truth to Biden on the subject.