So I was just looking at some videos from investment youtubers I watch to keep up with the ridiculous myriad of ever changing tax code laws, and something kind of funny happened.
People in the comments were literally begging for Trump back and doing nothing but crap on xiden and talk about how they regret voting for him. I even saw lots of people talk about how they'll never vote democrat again because they've been betrayed for the last time. Amazingly, I say some people talk about switching to republican since at least then they can attempt to better their lives through investing
So I'll try not to get TOO technical since not everyone is a fan of learning tax codes. But basically xiden is trying to force through a bunch of tax reform bills that would eliminate the 1031 exchange and step-up basis portions of the tax code. Essentially what this does is make it harder for middle and lower class people to better themselves through real estate investing, while also limiting the ways they can pass on their life's work and accumulated assets to their kids when they die without them being forced to sell off most of it to pay for the "death taxes".
This has apparently gotten normies to wake up BIG TIME. Hit them in their wallet and tell them they're going to have to sell off 90% of their inheritance to pay for taxes, and suddenly Orange Man Good, becomes their new motto and the Ass party become the new literal satan.
I honestly don't know whether to laugh at the sheer stupidity, or be glad they're coming around to our general side.
And these oh so smart people couldn't tell from all the rhetoric what would happen? So now they are gonna get taint punched by the IRS until all their gold coins come flying out and NOW they wanna cry? I know it's good that people are coming around but I have a hard time feeling sorry for their poor wallets. I'll bet a lot of us here are in much worse positions financially but hey we are all just smelly walmart people to all of these oh so smart investors right?
Rant over gotta go medicate my ulcer from worrying about how im gonna make bills this month.