Oct 27, 2021

What Biden's Unrealized Capital Gains Tax Really Means to America

Taxes

If you haven't heard about the proposed "Unrealized Capital Gains Tax," then get ready for a new concept from the old "Tax and Spend" Democrats.  The idea is simple.  Billionaires would now pay a tax on what they might earn.  In perhaps the simplest forms, the tax would be on what you might earn if you decided to sell or liquidate a business, property, stock, etc.   They currently talk about applying this plan to billionaires, but at least one Senator has already stated it could be floated to millionaires as well.  It doesn't take a genius to figure out that if Democrats take it to billionaires and eventually millionaires, someone will yell discrimination.  When Democrats realize they are discriminating by targeting billionaires (class discrimination - go on and look that up), they are going to discover the only answer they can...the Unrealized Capital Gains Tax must be applied to everyone.  Surprise!   

Now, you may be wondering what that means to you, and the answer can get complicated, so let's take a theoretical look: 

Unrealized Capital Gains tax would be implemented based on what you might earn, so if you bought stock worth $100 today, but next week, that same stock skyrocketed to $1000, you would stand to make $900 off your investment.  Sounds good, right?  Well, let's say you decide to keep the stock and not sell.  Now you don't make the $900 off the stock.  In the meantime, in comes the government, and they say, "Ah, you could have made $900 off that stock, but you did not, so it's 'Unrealized,' and now you owe taxes."  

Now there are various capital gains tax rates, and most depend on the amount made, how long the asset was held, etc., but since they range from 10% to about 37%, we'll just go with 25% for our little demonstration here.  

The government is now taxing your $900- remember you don't have it; you did not realize it (it's unrealized).   You will have 25% of that $900, and that will now be your tax owed of $225.  In the meantime, that stock drops back to $100 - yes, stocks can drop and don't even get started on cryptocurrency and how much it can climb and drop.  You now have a stock worth $100, for which you owe $225 in taxes for having it in your name or business name.  What are you going to do?  Simple, you're going to pay $225 regardless of the stock's current status.  You now have to sell your stock for $100, add $125 to that money and send a check to the IRS for $225.  You have to do this all because the stock had 'Unrealized Gains' on your $100 investment, even if it only went up for a day or a few hours.  Take that concept and apply it to everything - your 401K, your stock, cryptocurrency, land investments, rental properties, farms, small business, large business, inherited business or farms and land...get the picture yet?

So, in the end, the billionaire takes their money, leaves the country for a tax-friendly country, and lives the rest of their lives on a beach somewhere sipping soft drinks.  No longer do they invest in a business, start more business or build on current business because the last thing that billionaire is going to do is give up large sums of money on something they never realized.  The same will happen to the millionaire.  Finally, those in the middle class perhaps investing in small portfolios, will find their Domino's pizza stock throws them into a forced liquidation or bankrupt case with the IRS.  Many Americans will go bankrupt as many businesses simply fold.  This will then have a cascading outcome on the United States.  Business will close, goods and services will be hard to obtain, American unemployment will be unbelievable, and perhaps at higher rates than even the Great Depression and people will starve.  The small and large farms alike collapse and fold while trying desperately to sell grandpa's farm just to pay taxes.  

One final thought - you don't think this can happen?  You think they will only "stick it to" the rich...When the 16th Amendment was put in place, only 1% of the U.S. population paid income taxes.  Everyone believed the focus was,  surprise, the rich. So the rich began paying taxes.  The design was to focus on a certain income level in each state to support America.  Today, very few Americans pay 0 income tax.  Somehow that "rich only" view just worked its way right on down to...well, everyone.  Do you really think Unrealized Capital Gains Tax will only affect billionaires?  You may want to really think long and hard about that. 

Aug 21, 2021

Biden's Afghanistan 2021

Fall of Saigon and Afghanistan
They say those who do not remember history are doomed to repeat it, and perhaps that is the problem Joe Biden now faces in Afghanistan. Unfortunately, for all the memes, jokes, cartoons, and political discussions about Biden's mental status, it appears his forgetfulness is in full swing when it comes to American history.  According to his own assessments, Biden has been in service to the United States for more than 120 years (https://heavy.com/news/joe-biden-senate-120-years-ago-video/), but he now appears to be on the verge of a full-blown Dementia attack.  It's no joke that he sometimes appears to be suffering from some stage of Dementia, but with all the history surrounding his staff, it is unclear why someone would not remind him about the fall of Saigon in 1975.  

We are now repeating history.  The Vietnam of 2021 is Afghanistan.   Much like those shocking images from 1975, we are now seeing shocking images in 2021 as a United States President pulls out.  Like Vietnam, there is no "formal" surrender being written or completed, but we are running out of Afghanistan like we did Vietnam.  As we run, the Viet Cong of today -the Taliban -is sweeping across the country, taking control, changing government, and ultimately preparing to be in command of all U.S. weapons, resources, and supplies left behind as we abandon the country.  

Let me be clear...like Vietnam, Afghanistan does not represent the loss of the war by the American military.  No, Afghanistan today represents the loss of the war by one, and that one is Joe Biden.  As Biden rushes to cover himself by blaming a previous President, even Congressional Democrats and Republicans are keenly aware that Biden is doing this all by himself.  For twenty years, the American military has followed orders, served, lost lives, and fought the war on terrorism that started that September 11 morning.  

Like many, I can remember September 11.  I remember the cries for revenge, retribution, and war.  I remember one interview with some military members just hours after the attacks.  They said, "Give us the target, and we will take them out."  These men and women were not making political statements; they knew the power of the American military.  They knew the power of their friends in uniform, and they knew the power of those who would sign up, train, and go to war.  They knew they could win, and they did.  

Make no mistake.  What will go down in history most likely as a defeat in Afghanistan is not a defeat of the American military.  It is not a defeat of those who died, those who suffered and are still suffering.  It is not a defeat of those who came home.  It is not a defeat of the United States.  No, this defeat sits squarely on President Joe Biden's shoulders.  He has tried to blame Trump for setting a deadline. Still, that statement only shows that Biden thinks the American public is stupid...after all, Biden has changed just about everything else Trump did, so why would he not change a deadline or withdrawal plan?  No, Joe, this is all yours. 

We, the American people, our military, our veterans, know.  We know where the defeat of Afghanistan is, and it is not with us.  No, President Joe Biden, this is all your defeat.  Further, when the next election rolls around, we will not forget.  You and your administration have betrayed our veterans, military, and country with this surrender in Afghanistan.  The Biden Administration and all those associated with it will be remembered in Afghanistan by the people you abandon there.   Further, you will be remembered in America by the people who vote.  

Jul 18, 2021

Miller County Republican Committee to Host 2A Fun Shoot in Texarkana on August 14

2A Fun Shoot
The Miller County Republican Committee (MCRC) will host its first 2A Fun Shoot at Rocky Creek Outdoors in Texarkana, Arkansas, on Saturday, August 14. Those interested can obtain additional information online. The event will include several contests throughout the day and starts at 8 a.m. Participants may join one or all events. Events will consist of a 100 Sporting Clay event, 5-Stand event, 50 Target 16 Yard Trap event, and more. 

Registration is online, and participants are not required to pay until arrival at Rocky Creek Outdoors. There will be a raffle and door prizes as well. In addition, a lunch vendor will be onsite during the event. Those wishing to obtain more information or participate may get information online or email for additional information.

Online registration and email contact information may be found online at 2A Fun Shoot. Additional information about the Miller County Republican Committee may also be obtained online at the MCRC Website or Facebook. Information about Rocky Creek Outdoors may also be obtained online at their website.   

Jun 8, 2021

The Trump Assault and What it Means for You

 It has now been over four months since President Trump left office and the assault on his free speech continues.  Saturday, the President returned to the stage to make a political speech in North Carolina. The news shared it, and for the most part, it was a standard, post-Presidency type of speech made to the party.  It is not unusual for a former president to speak to state parties, national parties, or national conventions.  These speeches are recorded, kept for historical purposes, shared for the party, and almost always placed on YouTube.  

If you doubt a former president's speech is on YouTube, you know because it may violate their content rules, do your own search.  A quick search for Bill Clinton found the former President's speech to the Democrat National Convention (speech here) easily accessible.  Apparently, the same rules do not apply to President Clinton as they are applied to President Trump.  Trump's speech was on YouTube until recently.  In fact, you can attempt to find Trump's speech (speech was here), and all you will find is "This video has been removed for violating YouTube's Community Guidelines." 

You may not like Trump, and that's okay.  You may not like Clinton, and that's okay.  The wonderful thing about the United States and our freedom of speech is that we can all decide if we want to listen or not to any person.  We can decide if we want to be a Republican or Democrat.  Part of that decision-making process comes from being exposed, learning, and making informed decisions based on different ideas and views.  We learn and make those decisions about politics by hearing, reading, and agreeing with a person or party on issues.  If the views presented agree with our own views, we may become Democrats or become Republicans.  However, when that information is not available, it becomes a problem. 

Even if you hate Trump, you should be worried when a corporation that promotes videos with all sorts of opinions and views decides to cut out a political video it does not agree with and say it violates "community guidelines."  You should be concerned because corporations change, and boards of directors change.  Anytime leadership changes, views may also change.   When you limit or refuse to allow a political view in a public forum, you walk a dangerous line that comes close to what we see in other countries.   One view may easily be discarded or deleted today, then a view you support may be just as easily discarded tomorrow.  When anyone's political views are discarded in public, then freedom is threatened for all of us.  

Apr 2, 2021

HB 1435 - Misinformation and Lies

There is an old saying I heard someone use the other day, and it goes, "Lies go around the world while the truth is still putting its boots on."  A recent event in the House Judiciary Committee in Little Rock highlights the truth about this old saying.  A vote on HB1435 within the committee was called, voted on, and the bill did not advance.  In simple terms, it failed to pass the committee.  The bill was intended to help prevent Federal enforcement of unconstitutional laws in the state of Arkansas.   It should have ended there, or it should have been rewritten and tried again, or any number of other avenues if the sponsors of the bill wanted it to proceed, and this may still happen.  The problem was not the failure to pass the bill out of the committee. The problem is the rapid and almost immediate spread of misinformation and lies about who voted and did not vote on the bill.  

Representative Carl Dalby of Texarkana, the Judiciary Committee chair, came under fire on social media for a video of the vote and a lie stating she did not vote.  In the video, the Judiciary Committee called for the vote.  Each name was called out except for Dalby's.  From this video, the misinformation concerning how the vote was handled was spread across social media.  This misinformation took life as the lie that Dalby did not vote.  People began to say that the vote was 8 in favor of the bill moving forward, 9 against, and 2 abstaining.  In truth, Dalby is the committee chair and therefore would have given her vote directly from the chair's position-this is not uncommon, and it is not uncommon to not call the chair's name.  Dalby's "Yes" vote was recorded in the state's record. 

As soon as the misinformation and lie were spread, Dalby went online, addressed it, and posted a final tally vote copy.  Dalby voted "Yes," according to this document.  The resulting vote was a 9 for, 9 against, and 2 abstaining.  A tie is called a failed vote, and therefore the bill did not move forward.  


You would think Dalby presenting this would be the end of the discussion; however, as noted, "Lies go around the world while the truth is still putting its boots on."  Well, as the lie spread, more people began to contact Dalby.  While some were naturally polite, many others were not.  There have been threats against Dalby's life, against her home, and outright rude calls.  She has been called names and threatened as the lie continues to spread.  Unfortunately, some of those calling Dalby even claim to be Republicans.  

It is time to stop.  

The threats, the attacks, the misinformation, and the lies need to stop now.  It is not only the right thing to do; it may very well be the legally correct thing to do.  Dalby, an attorney, will be much more familiar with the laws concerning threats than I am.  I can only assume that she is considering all avenues of legal responses to the people who spread the misinformation, lies, and threats.   As for those threatening Representative Dalby, you need to consider crawling back under whatever rock-covered infestation you came out of and be thankful if there are no legal repercussions.  

Dalby has worked diligently for the Texarkana area and Arkansas since being elected as a Representative.  She has spoken with people freely, she has answered questions, and she has kept an open line of communication with anyone, even people outside her district, wishing to talk with her.  She has proven time and time again to be an honorable representative, and perhaps more important than that, she has proven to be a loyal and honorable person.   I dare say some of those calling Representative Dalby would not wish to compare records and history with this woman.  Hopefully, the calls will stop, the lies will stop, this spread of misinformation will be stopped.   Dalby deserves better than this, and in fact, Arkansas deserves better respect for all of our elected officials.