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Prominent Silicon Valley billionaire and investor David Stewart tweeted President Joe Biden’s capital gains tax, proposed to be raised about 20 percent, would make it harder for startups to recruit because “the tax system will punish their employees.”
“If Biden increases the long-term capital gains tax rate from the current 23.8% up to a new cap of 43.4%, it could neuter America’s entrepreneurial ecosystem,” Stewart explained. Capital gains rates apply when an asset is for gain after being held a year.
Stewart said he “ran the numbers” and determined an employee working at Google earning $400,000 per year in California “pays 38 percent of income over 10 years in taxes.”
I ran the numbers. A Googler earning $400k/yr in CA pays 38% of income over 10 years in taxes. Today, the startup founder pays 36% of her $3.9m 10-year income. Under Biden’s plan, the Googler’s taxes don’t change but the founder’s rate shoots to 46%! (4/6) https://t.co/Z9tMsJ6nFZ
— David Stewart (@davidstewartNY) April 22, 2021
By contrast, Stewart believes a startup founder pays 36 percent of her $3.9 million 10-year income. But under “Biden’s plan,” Stewart continued, “the Googler’s taxes don’t change but the founder’s rate shoots to 46%!”
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Will America-First News Outlets Make it to 2023?
Things are looking grim for conservative and populist news sites.
There’s something happening behind the scenes at several popular conservative news outlets. 2021 was bad, but 2022 is proving to be disastrous for news sites that aren’t “playing ball” with the corporate media narrative. It’s being said that advertisers are cracking down, forcing some of the biggest ad networks like Google and Yahoo to pull their inventory from conservative outlets. This has had two major effects. First, it has cooled most conservative outlets from discussing “taboo” topics like Pandemic Panic Theater, voter fraud, or The Great Reset. Second, it has isolated those ad networks that aren’t playing ball.
Certain topics are anathema for most ad networks. Speaking out against vaccines or vaccine mandates is a certain path to being demonetized. Highlighting voter fraud in the 2020 and future elections is another instant advertising death penalty. Throw in truthful stories about climate change hysteria, Critical Race Theory, and the border crisis and it’s easy to understand how difficult it is for America-First news outlets to spread the facts, share conservative opinions, and still pay the bills.
Without naming names, I have been told of several news outlets who have been forced to either consolidate with larger organizations or who have backed down on covering certain topics out of fear of being “canceled” by the ad networks. I get it. This is a business for many of us and it’s not very profitable. Those of us who do this for a living are often barely squeaking by, so loss of additional revenue can often mean being forced to make cuts. That means not being able to cover the topics properly. Its a Catch-22: Tell the truth and lose the money necessary to keep telling the truth, or avoid the truth and make enough money to survive. Those who have chosen survival simply aren’t able to spread the truth properly.
We will never avoid the truth. The Lord will provide if it is His will. Our job is simply to share the facts, spread the Gospel, and educate as many Americans as possible while exposing the forces of evil.
To those who have the means, we ask that you please donate. We have options available now, but there is no telling when those options will cancel us. We have our GivingFuel page. There have been many who have been canceled by PayPal, but for now it’s still an option. Your generosity is what keeps these sites running and allows us to get the truth to the masses. We’ve had great success in growing but we know we can do more with your assistance.
Thank you, and God Bless!
JD Rucker