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President Biden and the IRS just can’t get enough of taxing Americans.
The president is reportedly raising the capital gains rate to what some are calling the “highest formal federal capital gains,” with a budget proposal for fiscal year 2025, increasing the capital gain to 44.6%.
“Capital gains is after you’ve already paid income tax,” Pat Gray says, disturbed. “Now, you’ve invested some of what you paid tax on, and you’ve gained some more money which they’re taxing, and now they want to tax that at the same rate with this double tax, as you pay for income tax.”
“These people suck in every way possible,” Keith Malinak adds.
Gray notes that it’s not just income tax. The federal government also wants to raise the death tax and the corporate tax rate.
“They try to make it worse to do business in America,” Gray says. “The capital gains tax, if they do this increase, would be the highest it’s been since 1922.”
During the Great Depression, the upper tax rate was horrific — but America is slowly creeping back toward what it was like under Woodrow Wilson.
“It was a time when the nation was absolutely out of control on taxation. We’re going back to that time,” Gray says, adding, “We’ve got to get rid of this guy and his entire regime.”
“He’s just killing us in every way possible.”
Want more from Pat Gray?
To enjoy more of Pat's biting analysis and signature wit as he restores common sense to a senseless world, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution, and live the American dream.
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'Absolutely out of control on taxation': Biden and IRS are RAISING capital gains rate
President Biden and the IRS just can’t get enough of taxing Americans.
The president is reportedly raising the capital gains rate to what some are calling the “highest formal federal capital gains,” with a budget proposal for fiscal year 2025, increasing the capital gain to 44.6%.
“Capital gains is after you’ve already paid income tax,” Pat Gray says, disturbed. “Now, you’ve invested some of what you paid tax on, and you’ve gained some more money which they’re taxing, and now they want to tax that at the same rate with this double tax, as you pay for income tax.”
“These people suck in every way possible,” Keith Malinak adds.
Gray notes that it’s not just income tax. The federal government also wants to raise the death tax and the corporate tax rate.
“They try to make it worse to do business in America,” Gray says. “The capital gains tax, if they do this increase, would be the highest it’s been since 1922.”
During the Great Depression, the upper tax rate was horrific — but America is slowly creeping back toward what it was like under Woodrow Wilson.
“It was a time when the nation was absolutely out of control on taxation. We’re going back to that time,” Gray says, adding, “We’ve got to get rid of this guy and his entire regime.”
“He’s just killing us in every way possible.”
Want more from Pat Gray?
To enjoy more of Pat's biting analysis and signature wit as he restores common sense to a senseless world, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution, and live the American dream.