Gary has strong words for the people we are dealing with who are currently making decisions. Morons, economically illiterate imbeciles, people without a clue, and Gary is not making this up. They want to tax billionaires on the money they have not even earned yet. This is approximately 700 people. This could include stocks, real estate, and business investments.
Kaultbalm claims this unconstitutional because it’s a wealth tax. But what do the people in Congress care about the Constitution at this point, claims Kaultbaum. He doubts they have an ok for 29 trillion dollars in debt or becoming millionaires off $180K a year.
The problem with this proposal can be seen from Monaco, the city known for the Grand Prix. Its also known as a great tax haven. Billionaires can freely pick up and go wherever it’s a part of the wealth they have earned. They can move to a better spot where they won’t be taxed, and then who do we get that money from for this proposal. Nothing is holding them here if they have to pay out on money they haven’t even earned. Then who is gonna pay for these plans? Don’t you think this will happen? New York lost a boatload of billionaires for Florida because of an outrageous tax policy. New York lost the revenue, and then it turned into lost revenue for the state.
Investor’s Edge with Gary Kaultbaum can be heard on weekdays on MoneyTalk 1010. Gary Kaltbaum is a registered investment advisor with more than 30 years of experience in the markets. He is the owner and President of Kaltbaum Capital Management, a financial investment advisory firm headquartered in Orlando, Florida. He is a Fox News Channel Business Contributor regularly appearing on Fox News Channel and the Fox Business Network. In addition, Gary is the author of the book “The Investors Edge” and the host of a nationally syndicated radio show with the same title, “Investors Edge,” broadcast on numerous stations across the U.S. The show is also available on-demand and airs live 6-7 pm EST Monday-Friday. You can hear past shows online at garykaltbaum.com.
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