They're Coming For Your Gains
309: Billionaire Disappearances, Trump Pulls Ahead, NINJA Loans 2.0
Happy hump day kings — quite a bit to cover today. If you missed the piece that highlights the absurdity of modern day America yesterday you can find it here, though I would suggest reading this one first as quite a bit has happened in the last 24 hours.
Thankfully the Harris campaign has given us even more to chew on, namely in the form of an endorsement for raising not only the long term capital gains tax to 44.6% but also backing a 25% tax on UNREALIZED GAINS.
What the actual f*ck is right.
For my caked up readers and even those of us on the come up be weary of this hopeful administration — it’s evident now they want to implement full blown communism if they retain power and forget the chaos in the streets, they literally want you to lose the ability to transcend social classes and save money.
Similar to the point I highlighted in the post from earlier this week — there’s an abundance of cope coming from either those that support the left OR those who sit more towards the middle when it comes to policies.
It’s worth mentioning the Overton Window today — because this applies to some of the trends we are watching play out now on a multi year timeframe.
They wouldn’t do that!
It only applies to X!
They’re just saying that!
All forms of cope as we are conditioned to accept more and more extreme positions.
Gay marriage was a push for equality now we have kindergarten drag shows.
Surveillance was just for post 9/11 security - now they have literally all your data.
First it was just background checks - now they want mandatory gun buybacks.
Kamala was an utter laughing stock - now she’s the left’s messiah.
Cope and downplaying is a dangerous thing to partake in these days as things become more and more extreme. You really can’t rule anything out at this point.
DISCLAIMER:
If you cannot take an objective view on the two radically different candidates and their agendas at the moment this isn’t the place for you. The Anti Trump bias is so strong in this country that I genuinely believe people have lost the ability to critically think without him as a central factor in their opinions — which will hurt them financially.
You cannot argue this — the entire DNC so far is 75% Anti Trump centric. It’s honestly hilarious that they have this hang up and that the majority of supporters are voting with either him in mind or abortion as their main argument.
But today we’re going to highlight something everyone should care about regardless of their political beliefs and that is YOUR MONEY. Put aside the petty blue vs. red partisanship or what you’ve been told about Trump and look at the policy side of this race — some of these proposals and propositions are insanity.
As I said earlier — don’t simply write off these proposals as “it will never happen”.
These ideas and policies have the capacity to harm all of us economically and the fact is, the conditions in this country right now AND the spending habits of our representatives are continuing to harm the prosperity of all of us and those around the world.
Here is a summary of the Harris campaign’s positions as of yesterday:
Price controls on companies
A 44.6% capital gains tax
A 28% corporate tax
A 25% tax on unrealized gains
On top of that she’s copied Trump’s no tax on tip position AND tried to one up JD Vance’s $5,000 child credit proposal with a $6,000 child credit.
Amid the broader condition of the us economy, national debt, and job market — everyone should be concerned with some of these fringe proposals from the left. We are moving quickly towards more socialist policies in this country. It’s easy to cope and say “oh this only impacts the rich” but if you take a closer look wealth and the ability to save money is under attack in this country.
Millions and millions of unvetted and undocumented illegal immigrants are receiving free phones, hotel fares, and other accommodations while native born Americans suffer and lose. It’s entirely ass backwards there’s simply no other way to put it.
Even home owners would be and are being impacted by some of these policy proposals — the unrealized gains tax could pertain to homeowners as well. But on top of that you’re also not getting the same treatment as others.
In a move reminiscent of the Big Short era — California is moving forward with “0 down, 0 payment home “loans” for undocumented immigrants, NINJA 2.0.
“The social and economic benefits of homeownership should be available to everyone. As such, the California Dream for All Program should be available to all,” wrote bill author Assembly member Joaquin Arambula, D-Fresno (Center). The bill AB 1840, which already passed the state Assembly now faces a floor vote in the Senate.
What could possibly go wrong right?
Today’s post is a juicy one — we will cover all of Kamala’s recent proposals that have the capacity to impact you financially, touch on the state of the Presidential Race (RFK is expected to pull out and back Trump), cover financial markets, and at the end we will talk through the recent death of Billionaire Mike Lynch which has evoked some insane (or not so insane) conspiracy theories as to what actually took place off the coast of Palermo
Let’s get it.
Geopolitical & Political Updates
Yesterday we had a pretty substantial revelation come out when the Bureau of Labor Statistics basically proved that the Biden administration has been painting a picture of a growing economy with plentiful job gains — truth of course is much bleaker. Who’s really surprised though?
The lying has gotten so out of control we can’t even perceive reality at this point.
These proposed policies are lunacy and would destroy people’s portfolios, savings, and financial health irreparably.