Dope Tech Episode 2

<<@donaldisaNYSfelon says : That argument can't work because Donald never divested entirely from trump org while becoming president>> <<@lynette3151 says : This is a recycled story --the speech actually & obviously, happened when little d was pres.... (?)>> <<@debrahakbach4445 says : No other president has does so much shit, destruction, evil, against the American people..oh..I mean good great things?? Give me a break.....God help us!!!...deranged.. dissolutional bubble..sick minded...wake up America!!>> <<@jamesrussell7030 says : Trump could get caught in a motel with cocaine, two hookers, midget & a pirate and his cult would still not only vote for him, but send their hard earned money as well.>> <<@fustygaming7776 says : His kids don't even support him! Why should you!>> <<@kayon5388 says : He didn't do anything good for this country. He is such an arse.>> <<@janicefrost4190 says : That's retaliation for them throwing him under the bus first.😊>> <<@Chrissyrozenot says : Sarah cooper needs to come back. This is good material.>> <<@jrzygurl says : 🤣🤣🤣.. I know the stakes are high but goddamnit he's funny!!>> <<@wandswilliamson7801 says : I'm seventy-eight years Young and I don't want my daughter to have to pay a death tax and expecially when Biden got us in this mess>> <<@bethgarnet1593 says : Its all about keeping the rich rich and the poor well still poor>> <<@pepsiwarren2957 says : No body like Trump's children.>> <<@rubyred6954 says : This is a gd LYING VOICE I haven’t missed, oh christ help us is this LYING bs’ing loser gets in again. We have got to do it again folks, just one more time!!!! 🙏💪😱>> <<@kelleywatkins6001 says : HIS KIDS MUST GOING TO B TALKING.....U BEGGED CHINA TO BUY SPROUTS SO FALSE FARMERS NO THOUGHT FOR THEM>> <<@louster1k.982 says : This asshole is such a liar!! The only tax cut was for the 1% not you or me!!>> <<@janicefarmer2387 says : The Republicans will never defend the country. They are all about protecting the rich. They want to make us a theocratic authoritarian country, for power and control>> <<@jerricabush4432 says : Trump looks like his breath stank>> <<@jerricabush4432 says : They no He's a LOSER trump won't be in the white house ever and Dam sho won't be in RUSH HOUR 4>> <<@lapislazarus8899 says : He's looking terrible.>> <<@TeddyT6 says : All you have to do is establish a living trust and you avoid the inheritance taxes. Trump is so dumb, he doesn't even know that!!>> <<@charriwithrow6498 says : I love Joe Biden!>> <<@shellybunce8741 says : He’s lying now trying to get supports!!!😡😡😡😡>> <<@dglorious1269 says : He's not making a bit of dam sense as usual. 😒>> <<@dglorious1269 says : "Throws his kids" 😅>> <<@yak55dvr39 says : Cenk and Ana, good presentation but you need to revisit the estate tax with a discussion of the "step up in tax cost basis" that wipes out unrealized capital gain for the wealthy at death. The way the uber-wealthy are rigging the system to capture all of the benefits at the expense of the working class swine (which I am a member of) is much greater that you have identified. Lets look at an example. Lets pick a fictional person and call him Tonald Dump. Tonald inherited a sizable sum of wealth. With this wealth as collateral he barrows much more money and invests it in lets say golf courses, hotels and business buildings. He then invests much more borrowed money to make substantial improvements on these proprieties. Lets say that when he is done his property has a tax cost basis of $100xxx, which is the amount he invested in buying and improving the property he now owns. Now over the years Tonald is able to depreciate his property. Tonald and his buddies have lobbied (bribed) congress to pass laws that allow him deduct this depreciation from any current income he has. Over the years Tonald has paid very little if any income tax because he can depreciate his office buildings, hotels and golf courses even when these assets are doubling or tripling in current value. However, the down side for Tonald is that with each amount he takes a depreciation he lowers his tax cost basis. But this only triggers a negative event if he sells the property. At sale he will need to take the market value he received from the sale and subtract his current tax cost basis to determine what he must pay capital gain tax on. So if he sold his property with a receipt of $200xxx and if by applying depreciation his tax cost basis was lowered to $50xxx he would need to pay capital gain on $150xxx. But don't shed a tear for Tonald. The capital gain rate is 15% for those making up about $500,000.00 and 20% for those with income over $500,000. It used to be significantly lower but those pesky democrats raised it. However, if he had actually done some work to make the same amount as a salary and received the $150xxx as earned income the higher brackets of 22% to 37% would kick in for earned income (the tax rate for the working class swine). Capital gain is a sweet deal. When the uber-wealthy complain that capital gain taxes are punishing them for being successful they completely ignore that the tax code, which they lobbied (bribed) congress for actually punishes people who work (earned income) for a living far more. Is it that they want to punish work more than investment or just punish the working class swine? You be the judge. Now how does the estate tax laws come in to play. Well as long as Tonald does not realize any capital gain he can go through life paying little if any income tax an no capital gain tax. Another neat feature in the tax code for Tonald is that if he does sell one of his properties if he reinvests the money he receives in a timely manner in new property no capital gain will be recognized. He can live his entire life as a freeloader, tax wise (it good to be uber-wealthy). But what happens when he dies. Lets say his property is at his death worth $400xxx and his tax cost basis of $25xxx. What happens to the unrealized capital gain of $375xxx. News Flash!! It disappears. At the death of an owner the property gets a "step up in basis" to the date of death value of the property. So Tonald's children (poor little orphans) do not recognize any capital gain, and therefor no capital gain tax, if they sell the property. (Almost has a money laundering vibe to it)(Hope they don't get the idea to cause daddy to assume room temperature so that they can eliminate the unrealized capital gain-but they are such nice kids). Note that the poor little orphans do not pay any tax when inheriting the property either. Inheritance tax has been eliminated. This example should put to rest the talking point that the money taxed by the Estate Tax (Death Tax) has already been taxed. That is an outright lie. The vast majority of the wealth that is taxed by estate tax has never had any tax paid on its accumulation and contains a vast amount of unrealized capital gain. But the estate tax currently does apply. But again don't shed a tear for the uber-wealthy because they are able to launder the unrealized capital gain (which no tax has been paid on) up to approximately $26,000,000.00 for a couple by using the estate tax exemption. The estate tax rate above the tax exemption amount is taxed between 18% to 40%. However, the uber-wealthy are pushing to eliminate the estate tax altogether while keeping the step up in basis. By doing this they can eliminate any tax on the accumulation of billions in wealth. It is very nice to be uber-wealthy and have folks in congress you can bribe. By understanding "unrealized gain" and "step up in basis at death" you can get a better feel for the extent of this rip off. I wish you would cover this. You do it better than I can, but you might want to talk to a tax attorney-it is complex.>> <<@chelseacraft4669 says : But for spouses that is already their community property that was already taxed. His wife shouldn’t pay tax. Adult kids should. Minor kids should not.>> <<@lydiaawilliamson616 says : Local property taxes and land developers have driven all the small family farms out of business here in my area. This used to be farm county. We are now considered a Philadelphia suburb.>> <<@ParisFashionista says : Of course 🙄>> <<@CharlieApples says : You mean the daughter who owned and operated a successful luxury fashion company of her own before it was boycotted into bankruptcy by her father’s political campaign? The same daughter whose father went on LIVE NATIONAL TV with her and repeatedly made obscene sexual comments about her, his own daughter, who he said he “would be dating [if we weren’t related]”, and when asked what they had in common, Ivanka said “golf” and her biological father said “sex! 🥴” Or are we talking about the daughter whose wedding was ruined by her embittered narcissistic father who made the entire occasion all about him and his self-induced problems, and refused to let anyone be happy or have a good time, because he thought everyone should be sad and angry for him. Not his daughter, on her wedding day, no. Everyone should be paying attention to him, her *76 year old father.*>> <<@nickhill2854 says : What did actually happen to American farmers let's not forget across our entire country American farmers literally committed suicide because of Trump's insane trade war with China>> <<@tomtom9184 says : Imagine it's even worse than rich people giving politicians bribes. Politicians spend most of their time BEGGING for bribes. That's not a good position to negotiate from.>> <<@hopelesscase2869 says : 🎵wheels on the bus go round and round 🎼>> <<@Bruintjebeer6 says : I'm reading the Book Marry Trump wrote about her family and Trump is just acting towards his kids like his father before him. All those his siblings and he are troubled and harmed by their upbringing and Donald got the most twisted of them all. While the others were put down all the time and never ever got a compliment or positive critic Trump learned at a very young age he could get away with everything. His dad made sure of that.>> <<@nitahelton6137 says : This idiots trying hard to discredit the President Donald Trump about his>> <<@LGW27 says : My crowds are big! My hands ar big!>> <<@atticusandwinifred3274 says : We are double taxed all the time. Every time you pay sales tax, that’s a tax after your income has already been taxed. The company you work for is taxed when they pay your salary (also there’s unemployment tax etc). Most of these taxes affect poor and middle class people. But hey, these folks are freaking out about their inheritance being taxed AFTER 12 million. That means you get 12 million bucks free and clear and then are taxed on the rest. Though we know most rich folks have accountants who are creative enough to avoid even those taxes. Look at Trump. His Daddy gave him millions and millions over the years. Tax free.>> <<@Roger-hn9zl says : Dumm dumm doesn't even care about his own kids>> <<@jerseygirl9603 says : Click bate>> <<@threeg6966 says : Trumpo would throw his own family under the bus,.......Oh wait, he just did.>> <<@Humanity4ALL says : Do y’all remember back during GW Bush, there was NO estate tax at all.>> <<@mechellesonnier5445 says : He and his followers don't realize he didn't do sh#t, but run that mouth!! all he did was turn over rocks to uncovered more racists in this country,, Since he came into office with his do whatever the hell I want attitude, republican congress and the police has ran amuck>> <<@SabreMatt says : Trump believes that when he dies, he is going to be able to take his wealth with him into the afterlife so he can attempt to buy his way into heaven. Good Luck with that.>> <<@brendaechols5929 says : His kids suck up to him, just for the inheritance. He doesn't care about his kids.>> <<@yordalyn says : Inheritance tax. No soft language please.>> <<@porkchop50078 says : Donald trump is the drunk dumb uncle that everyone has! That just can't shut up!! Embarrassing himself and everyone around>> <<@josephgrubb1105 says : Wow trump>> <<@Hardcastle83 says : Ahhh this is a hard sell tyt. Tax the rich by all means, while they're alive. It is a dumb gross tax and is absolutely "double taxing" money and unethical.>> <<@mickmost4190 says : old money new money big difference>> <<@guillermosuarez5865 says : In Spain we have a limit of 100,000 Euros or $107,000 "death Tax" in todays exchage rate, which is ridiculous>> <<@pauldourlet says : Trump started a a trade war with Chynnna .This cost American Farmers the soybean market and then he gave thenm 20 billion dollars to make up for that loss but the damage was already done>>