For USA citizens opposed to the unrealized capital gains tax proposal by Senator , here is an example of a tactful and diplomatic letter template I made. You can use this or make/post your own. It's important to write your elected reps.
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Write your member of Congress here: house.gov/representative
Write your Senators here: cop.senate.gov/senators/senat
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Exactly. Eventually, they run out of other people’s money and then they come for you.
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Let’s take capital from people who use it efficiently and….. give it to the Government to waste it and line their pockets. Because gOvErNmEnT iS tHe gOoD gUyS
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Is there a law in place or being authored that stops billionaires from taking out loans against their unrealized gains to dodge taxes while buying toys a la Larry Ellison and others?
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Everyone that owns a house pays unrealized gains every year with property taxes.
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That’s how income tax originally started (16th Amendment). It was promoted as a wealth tax on the top 10%, and has now expanded to include nearly 100% of the population. This would be no different.
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History doesn’t support your fear. Cap gains rates were up and down a few percent in the 80s-90s but since 97 have been down, especially for middle class earners. In fact 55% of American families qualify for ZERO Cap gains.
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Income tax began in 1913 "to just tax the millionaires". AMT was implemented "to just tax the millionaires". Where are we today with these "only the rich will pay" schemes?
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