Biden's Inflation Tax

[Danil54grl]

IF you really thought he was just going to be taking away from the BIG money makers, you were wrong. For us common sense people, we saw what was coming. . .
https://www.thegatewaypundit.com/20...-last-year-thanks-bidens-inflation-tax-video/
Bloomberg News reporter Michael McKee on Friday reported on the sudden rise in prices for goods and services thanks to Joe Biden’s spending.

Biden is quietly taking money out of people’s paychecks with his inflation tax.

Paychecks are now worth 3.1% less than last year thanks to Joe Biden.



Biden proposed a $6 trillion budget for 2022 after spending trillions of dollars on Marxist pet projects and redistribution of wealth schemes.

Joe Biden repeatedly claims he will not be raising taxes on people making under $400,000 a year, but he is quietly taxing the poor and lower middle class through inflation.

 

[Arcticdude]

The "rich" don't have nearly enough money to pay for the communist utopia that Biteme has planned for us, even if they stole every penny from every rich person in the country. Only a fool would have believed this garbage from the democrats.

 

[Danil54grl]

The "rich" don't have nearly enough money to pay for the communist utopia that Biteme has planned for us, even if they stole every penny from every rich person in the country. Only a fool would have believed this garbage from the democrats.

and yet sooo many idiots actually fell for that sh@t. It amazes me just how stupid people are.

 

[Arcticdude]

and yet sooo many idiots actually fell for that sh@t. It amazes me just how stupid people are.

Remember, over half of Americans do not pay taxes and half are on some sort of government handout. Its easy for these idiots to vote for more taxes, on the rest of us. Thats why I've always said that non property owners should not be allowed to vote.

 

[Danil54grl]

Remember, over half of Americans do not pay taxes and half are on some sort of government handout. Its easy for these idiots to vote for more taxes, on the rest of us. Thats why I've always said that non property owners should not be allowed to vote.

And that is current. . . How much is it going to be with all these illegals crossing our boarders every day. This isn't over by a long shot. . .

 

[Schattentarn]

Even if you don't pay taxes, your property has been devalued and will keep heading down as inflation increases. Your savings accounts---ditto.

 

[Schattentarn]

Remember, over half of Americans do not pay taxes and half are on some sort of government handout. Its easy for these idiots to vote for more taxes, on the rest of us. Thats why I've always said that non property owners should not be allowed to vote.

Wasn't it that way at one time? Anyway, non-property owners voting taxing on property owners is the disease of the cities.

Fortunately, we in California did one good thing in the late 1970s and limited property taxes to 1% of assessed value or sale price when sold. This is not quite absolute since we can vote increases on ourselves for local items of community need. But this law crushed the teacher's unions for a long time. They were up to their communist tricks even then.

 

[Jayson]

 

[Helen Back]

I'm glad you did this thread. I was thinking about starting one to talk about ways to hedge against the impending hyperinflation. Obviously physical precious metals are good, as is real estate and real assets. Anyone thinking about investing in foreign currency? The Yuan? Francs?

 

[Proud Prepper]

I would not invest in any fiat currency, its playing Russian roulette.

Hard assests and precious metals. Any realastate that's still a value that also has or produces lumber or food.

 

[Schattentarn]

I'm glad you did this thread. I was thinking about starting one to talk about ways to hedge against the impending hyperinflation. Obviously physical precious metals are good, as is real estate and real assets. Anyone thinking about investing in foreign currency? The Yuan? Francs?

After I got my insurance money I looked into gold. I called one of the big companies. Here is the story: Gold costs $2200./oz but sells for $1800./oz. This means you pay the dealer/broker or whatever you call him $400./oz in every transaction. So you start $400.00 in the hole and hope prices will continue to rise.

I'm buying a duplex instead.

 

[Arcticdude]

After I got my insurance money I looked into gold. I called one of the big companies. Here is the story: Gold costs $2200./oz but sells for $1800./oz. This means you pay the dealer/broker or whatever you call him $400./oz in every transaction. So you start $400.00 in the hole and hope prices will continue to rise.

I'm buying a duplex instead.

Thats a high premium. Look in to Kitco or another gold broker. I’ve used Kitco for over 30 years without a problem. I particularly like their pool accounts. There's no premium on metals in a pool account until you take delivery of your metals.

 

[Arcticdude]

Even if you don't pay taxes, your property has been devalued and will keep heading down as inflation increases. Your savings accounts---ditto.

Maybe in some areas real estate is going down, but in the 40+ years that I've been buying property I've never lost a penny.
I keep very little money in a traditional savings account, everything is in investment accounts earning high rates of return.

 

[GaRp58]

Ditto there Arctic, my property value here has quadrupled in only 6 years. Half of that from my renovations and half from demand. Still looking at a small acreage near the lake for only around $1500.00, last house on the end of the developed road and ripe to be re-built or re-sold for investors...

 

[Ram619]

The fact that anyone believed that Biden was only going to tax the rich is unbelievable. The rich are already taxed at a very high rate and there's not enough of them to tax anyway.

The lower class are being handed out all the $. And even the ones that aren't certainly aren't going to be taxed enough to pay for the lefts spending spree.

So that only leaves the middle class. The same people who always end up getting screwed.

 

[Danil54grl]

The fact that anyone believed that Biden was only going to tax the rich is unbelievable. The rich are already taxed at a very high rate and there's not enough of them to tax anyway.

The lower class are being handed out all the $. And even the ones that aren't certainly aren't going to be taxed enough to pay for the lefts spending spree.

So that only leaves the middle class. The same people who always end up getting screwed.

Yep! The current administration WANTS to get rid of the middle class. . . it is very clear.

 

[Schattentarn]

Corporations and the rich will always find a loophole. The underclass (illegals and "homeless") are never taxed, they are benefited. The broad middle class, lower, middle and upper are the only real tax base in this country. Let's count the ways: sales tax, property tax, use tax (licenses, tolls, surcharges), gasoline tax, tax on interest, tax of capital gains if you sell property, death tax, withholding tax on wages and of course income taxes on wages themselves, rents-royalty tax if you have such income, city taxes, out of state income taxes. There are probably some I have forgotten.

 

[Ram619]

Corporations and the rich will always find a loophole. The underclass (illegals and "homeless") are never taxed, they are benefited. The broad middle class, lower, middle and upper are the only real tax base in this country. Let's count the ways: sales tax, property tax, use tax (licenses, tolls, surcharges), gasoline tax, tax on interest, tax of capital gains if you sell property, death tax, withholding tax on wages and of course income taxes on wages themselves, rents-royalty tax if you have such income, city taxes, out of state income taxes. There are probably some I have forgotten.

Oh there's several other one's here in MA. They all suck but for some reason excise tax has always really bothered me. I already pay sales tax when I buy my vehicle. I don't have a loan but if I did I would be paying interest on that. Also we have some of the highest auto insurance rates in the country who charge you an extra fee if you don't pay for your policy in full for the year, even though your still paying in advance when you pay monthly. Then I have to pay a ridiculous tax on gas to drive my vehicle as well as tolls to drive on certain roads. And if I drive to fast on one of those roads I may have to pay for a speeding ticket which will also increase the price of my insurance for the next several years. And to top it all off every year I get a damn excise bill from the town for every vehicle I own. No idea who made up this tax or how it works. All I know is when I bought my truck new 3 years ago my first excise tax bill they sent me was almost $2K. Then the following year around $1K. And down to around $600 this year. So that's around $3,600 for the last 3 years for this made up tax just so they can screw us a little bit more.

 

[Proud Prepper]

Oh there's several other one's here in MA. They all suck but for some reason excise tax has always really bothered me. I already pay sales tax when I buy my vehicle. I don't have a loan but if I did I would be paying interest on that. Also we have some of the highest auto insurance rates in the country who charge you an extra fee if you don't pay for your policy in full for the year, even though your still paying in advance when you pay monthly. Then I have to pay a ridiculous tax on gas to drive my vehicle as well as tolls to drive on certain roads. And if I drive to fast on one of those roads I may have to pay for a speeding ticket which will also increase the price of my insurance for the next several years. And to top it all off every year I get a damn excise bill from the town for every vehicle I own. No idea who made up this tax or how it works. All I know is when I bought my truck new 3 years ago my first excise tax bill they sent me was almost $2K. Then the following year around $1K. And down to around $600 this year. So that's around $3,600 for the last 3 years for this made up tax just so they can screw us a little bit more.

Thankfully we still have states that are not ruled by Fascists nut jobs. Plan to move asap, the sooner the better.

 

[Ram619]

Thankfully we still have states that are not ruled by Fascists nut jobs. Plan to move asap, the sooner the better.

Would love to move. Maine or New Hampshire would be nice. Unfortunately it's not really an option for me, at least not for several years.