Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[BitcoinBunny]

[LoyceV]

Forget it, after that announcement 43K.

I don't get it..... (non-American here). So a politician wants to increase taxes, I've seen that happen my entire life. Did you guys expect anything else?

From NY Times[url=http://:

Mr. Biden will also propose raising the top marginal income tax rate to 39.6 percent from 37 percent, the level it was cut to by President Donald J. Trump’s tax overhaul in 2017.

I'd love to see 39.6% as the highest tax bracket! You guys don't realize how lucky you are with such low taxes.

raise taxes on the wealthy but not on households earning less than $400,000.

I wish I had these kinds of problems

the tax on capital gains — the proceeds of selling an asset like a stock or a boat — for people earning more than $1 million. The plan would effectively increase the rate they pay on that income to 39.6 percent from 20 percent.

I'm confused: Where I live, there's a difference between income earned from work, and income from investments. The former is highly taxed, the latter isn't. How's this in the US? Does this $1 million income has to come from a paid job, or does it include capital gains? And isn't the "loophole" that you can avoid paying this tax simply by not realizing the gains? I mean, the richest guy in the world earns $81,840 salary per year]:

Mr. Biden will also propose raising the top marginal income tax rate to 39.6 percent from 37 percent, the level it was cut to by President Donald J. Trump’s tax overhaul in 2017.

I'd love to see 39.6% as the highest tax bracket! You guys don't realize how lucky you are with such low taxes.

raise taxes on the wealthy but not on households earning less than $400,000.

I wish I had these kinds of problems

the tax on capital gains — the proceeds of selling an asset like a stock or a boat — for people earning more than $1 million. The plan would effectively increase the rate they pay on that income to 39.6 percent from 20 percent.

I'm confused: Where I live, there's a difference between income earned from work, and income from investments. The former is highly taxed, the latter isn't. How's this in the US? Does this $1 million income has to come from a paid job, or does it include capital gains? And isn't the "loophole" that you can avoid paying this tax simply by not realizing the gains? I mean, the richest guy in the world earns $81,840 salary per year.

Won't this just lead to wealthy people moving (their money) abroad?

[podyx]

[fillippone]

Hello gang.
Observing 47,800@Stamp.

As a PlanB zealot, allow me to cheer you up with this:



https://twitter.com/fillippone1/status/1385504889187483650?s=21

[DaRude]

Well full title is "Biden to propose capital gains tax of 39.6% to fund education and child care, reports say". So your question is how Biden lovers here can love him when he proposes to raise taxes on top 0.3% of millionaires to fund education and child care?

... mmm, why can't you just think of the children!!!???


... the original income tax Act that was bought in at same time as the Federal Reserve Act was specifically for only the very highest income earners and politicians swore black and blue it would only ever be a tax for the very richest .... today everybody pays income taxes.


... this thing has got legs because the actual power behind Biden is not the wealthy elite but the powerful statists inside government that had him installed in a fraudulent election they signed off on. Police States do weird and wonderful things, the roller coaster has reached the top of the climb, it gets freaky from here on out as we freewheel into full governmental insanity.

So the argument against the tax that'd benefit lower 99.7% by making top 0.3% of population (which constantly sees its wealth increase disproportionally to the rest) pay higher tax is that it's a gateway drug tax? First them then everyone else?

In 1978, the top 0.1% owned about 7% of the nation’s wealth. In 2019, the latest year of data available, they own nearly 20%.

https://www.theguardian.com/commentisfree/2021/mar/29/rich-poor-gap-wealth-inequality-bernie-sanders

Guessing currently it's probably around 25% after this stellar year of ATH markets during the pandemic. I pick my battles and i got better things to do than standing up for the top 0.3%

If you don't see the issue with current distribution of wealth, is there a point at which you believe it would become an issue? Would you be fine with top 0.1% owning 30% of all of the wealth?  50%? But i'm glad to know that when i'm ready to withdraw millions in cap gains/yr that there'll always be a lot of poor (to me) people helping me protect my gains against their own best interests. Just hope that by then i won't have to drive in armored vehicle with armed guards between my gated community and my yacht club.

... no you dense muppet,  everyone can see the issue with the vast disparity of wealth distribution but there is zero evidence that more and more taxes and wasteful government spending does anything to alleviate it.

in fact, the stats you posted show that things have gotten worse since 1970, a time of increasing taxes and spending ... misdiagnosing the issue and prescribing the same dumb things that haven't worked in the past will in all probabilities make things worse ... but I mean you can't even see what the stats that you posted imply, you seem to be so blinded by the tax and spend ideology

...we should all know on this forum of all places that the wealth distribution problems are due to inflationary, elastic money supply, and have nothing, or very little, to do with taxing rates and wasteful government spending ... you are just falling for the statist FUD and obfuscation if you think all the economic disparities and problems in society are somehow divorced from a radically mismanaged monetary regime ... the rich are getting richer because the monetary supply is expanding, it's as simple as that.

... more taxes can never fix what command and control money supply has broken

Pretty sure there's a ton of evidence, you're just too dense to see it, look at Europe Scandinavia in particular. Of course overall excessive tax causes other issues (look at France), but claiming that taxation can't regulate disparity is a pretty dumb argument. Don't believe i said anything about wasteful government spending, sounds like i struck a nerve there? Perhaps that's what making you defend lower taxes for ultra rich?

in fact, the stats you posted show that things have gotten worse since 1970, a time of increasing taxes

huh?  well this is just a blatant lie, highest tax brackets only been reduced since the 70s and surprisingly ultra high net worth individuals only gotten disproportionally richer since then. Who could've imagined that people who's sole job is to make more money were good at making money. Put a hedge fund manager who only has one goal in life in a 20% bracket and a college professor in a 30% and then act surprised when there's huge disparity??? 

[El duderino_]

Hello gang.
Observing 47,800@Stamp.

As a PlanB zealot, allow me to cheer you up with this:



https://twitter.com/fillippone1/status/1385504889187483650?s=21

https://twitter.com/100trillionusd/status/1385496730200907776?s=21

[BlackHatCoiner]

Wow, that's a nice dip. How could you not stack some sats?

[Parazyd]

Wow, that's a nice dip. How could you not stack some sats?

Oprah said double-dipping is bad.

[El duderino_]

Though I hope the new class gets it easier 

[drnash85]

Though I hope the new class gets it easier 

What about the class of 2015?

[LoyceV]

In a few months, we'll feel sad Bitcoin is down to $75k again.








And yes, I'm posting this just so I can quote myself later

[El duderino_]

In a few months, we'll feel sad Bitcoin is down to $75k again.








And yes, I'm posting this just so I can quote myself later

Good good

[shahzadafzal]

In a few months, we'll feel sad Bitcoin is down to $75k again.



And yes, I'm posting this just so I can quote myself later Cheesy

And it will be something like...

Bitcoin price drops as much as 25% weeks after record breaking $100k.

[fillippone]

Hello gang.
Observing 47,800@Stamp.

As a PlanB zealot, allow me to cheer you up with this:



https://twitter.com/fillippone1/status/1385504889187483650?s=21

https://twitter.com/100trillionusd/status/1385496730200907776?s=21

Please believe me I wasn’t aware of his tweet when I wrote mine!
Lol... used the same “clockwork” word...

Oh no, you are not going to open a plagiarism thread on me in Meta? Are you?!

[BlackHatCoiner]

In a few months, we'll feel sad Bitcoin is down to $75k again.

The key word here is “few”.

[NotATether]

Looks like we'll be getting to that 30% correction.

So far a 25% correction at 48 338$. Is this all the bears can do? Are they out of ammo? Because if so, this will hurt them a lot in the next weeks. Below 50K is too attractive to remain longer than a couple of hours.

The lower BTC goes the more this is starting to feel like an intense Overwatch round.

[serveria.com]

It looks like we're heading down to $35k-$40k

Beartrolls in disguise finally showing their real ugly face! Too early boobie! Come back in 2022! 

[NeuroticFish]

It looks like we're heading down to $35k-$40k

[Wekkel]

Them Bargain Boys are at it again.

I see a lot of alts holding up. Can't be that bad, this BTCUSD correction 

[Farmer Bill]

I know a lot of you in here probably got a bunch of newfound wealth in recent months, even though 1BTC = 1BTC no matter what, but damn.. Never thought I'd see so many people oppose an increased tax to people who declare over $1m CAP GAINS a year. Happy friday WO.

Increasing taxes never benefits anyone,
To make a country prosperous, low tax, low spend is the formula.

Singapore one of the richest countries in the world was once one of the poorest.
It was helped to its current status by low taxation.
Top personal tax rate 22%
Corporation Tax 17%
Capital gains Tax 0%
Death Tax 0%
No double taxation on interest and dividends.

Biden and his well meaning but deluded socialist and Marxist backers will leave their tenure in 4 years time with the country in much worse shape.

Time to finish breakfast and off to work.