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THE MIDDLE CLASS SAVINGS AND INVESTMENT ACT.
Video inspired by ClearValueTax: https://youtu.be/h_57iwEhnGE
This new bill has the SOLE PURPOSE of basically getting you to spend less money:
To start, it would CHANGE THE TAX RATES for Long Term Capital Gains.
Under this NEW proposal – this amount would be AMENDED, with a 0% long term capital gains tax on joint returns making less than $165,000 per year, or – for single filers making under $82,000 per year. This means that – for a SIGNIFICANT PORTION of the population – they would pay NO TAXES, WHATSOEVER, on investment income earned within the stock market, or real estate…and, would provide a MAJOR INCENTIVE to invest more money…rather than spend it.
Second, this bill would also allow the FIRST $300 – $600 you make in INTEREST INCOME be completely tax free, depending if you’re single or filing jointly.
Three, for my WEALTHIER viewers out there, it would also modify the NET INVESTMENT TAX, which – as of right now – applies a 3.8% surtax to investment income if you make more than $200,000 to $250,000 per year…depending on if you file single, or jointly.
And FINALLY…FOURTH…we have the “enhancement of the savers credit.”
As it stands now, the “Savers Credit” gives low and middle income Americans up to $1000 who contribute to their retirement account…and, with this new proposal…that amount would be increased to $2500, with the income limitations expanded so that more people can qualify.
PRACTICALLY, though, I’m not quite sure how these proposals would help reduce inflation. The way I see it, this only would only help those who HAVE the disposable income to invest … and, for everyone else, yes – tax credits would absolutely make a difference – but, would it result in lower food and oil prices? Probably not.
That’s why, I think it sounds like a REASONABLE proposal that would help a LOT of people…but, not for the purpose of bringing down inflation….unfortunately, that’s likely going to need a lot more sustained effort, long term…and, I wouldn’t be surprised if tax rates are negotiated, at a LATER TIME, as they’re currently set to expire at the end of 2025.
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stop spending money, buy my vitamins
What middle class?
Get your income invested and saved for a rainy day, make your money work for you and then you have a steady income that doesn’t rely on a job. Then you can spend your money without worrying.
Oh the middle class, the average Joes… I think it is important to literally just wake up to your own reality and build something versus trying to appear as if… right now we live in a time where everything and anything is possible… The lower to middle classes have what the highest of classes didnt have 20 years ago.. So, everyone does in fact need to get their priorities straight and get going..
Soon, there won’t be a middle class to speak of. I’m not going to blame millennials for runaway inflation, but I will blame voters and politicians for it. Well played, America. . . .well played.
Will Ferrel almost made me unsub, be careful
Ritual is over priced
Me see will Ferrel me sub. Simple man
Perhaps my wife and I make too much, or We just live below our means, but I don’t feel effected by anything that’s been happening with the economy. Maybe I just don’t realize how.
Meet Kevin says it doesn’t matter because we get paid more now
Why is the middle class screwed? Because our landlords took all our money
Why do you need to photoshop fake White House tweet?
This channel still keeps it real, while Meet Kevin has pissed off so many people he’s turned off the comments lol.
Another couple of bills that only help the rich.
The middle class has ALWAYS been screwed. Now screwered.
I swear to god this guy has cerebral palsy
Nah your wrong, Biden said we aren’t in a recession and this is the strongest economy we have ever had.
What middle class?
I just sell any stocks that dip below the 200-day EMA. Easy insurance policy
I’m running comments up to 1000
Uo
Yo
…Just eat 9.1% less 🥲
Hey Graham, if you have been dollar cost averaging into VOO. When do you stop investing and just hold? Also, if you are dollar cost averaging where does the 9%-10% return factor in when you keep buying all throughout the cycle, meaning even when the price is high. Might be a dumb question, but would love to know your thoughts. Thanks, love the channel! 🔥
I figure I’ll always be investing, at least until I’m 100% retired and have no more income
Some people never pass up a good screwing.
…
Hate to say this, but stock market crashes are normal features in the game,Over a 50-year investment horizon, you can expect to live through 14 of them,When they happen, don’t panic and sell. Buy more shares, reinvest your dividends, wait…and then wait some more.
These corrections and crashes are normal when asset prices have been overinflated. The key part in this is that in a 50 year period, there are 14 crashes. More periods of asset prices rising than falling during the 50 year period.
@Alice woodward
I’d much rather buy in a bear market than buy in a raging bull market. But I’m always buying
@philip cooper Wow! That’s incredible. How can i reach this Advisor? I need to take advantage of this bearish market.
You are correct, but national debt and inflation is not necessarily something we should just shrug off because the market will sink. We are falling off an actual debt cliff.
I’m retired and on a fixed income so…yeah, None of this does anything to help me.
This is why Gov printing money is messing everyone up
I’m sorry but this is absolute bullshit. This is not really meant to help the middle class.
Married with kids ? Here some extra money in the form of tax credits.
We cuting capital gains tax. Great, because I’m working two jobs living paycheck to paycheck. Gatta make sure invest in the market with the money I don’t have!
Oh but we are also doubling the amount of money we give you if you spend money on a retirement account! Great, let me spend my money on my future when I’m barley making it by today.
Pyromatic (PYRO) on Etherium running up in this bear market…another Shib? Yes ok..yes its tokenomics is a total burn not dead wallet. The total burn causes a gamma price squeeze….🚀🔥🔥🚀
Selling vitamins now Lmao there’s nothing this guy won’t do for $$$$ 🤦🏻♂️🤦🏻♂️
Subtle humour???😳🤔
Americans did this to themselves and we deserve it. People are too ignorant these days for things that actually matter.
When the people who make policy are stupid rich and their voter base is poor and stupid, I’m not surprised.
The rich don’t want a middle class
“If you had invested $100,000 back in 1922, then today you would” be dead 💀
Every successful person in the world is a hustler one way or another. We all hustle to get where we need to be. Only a fool would sit around and wait on another man to feed him.
Again, thanks for not only talking to the weathy. But also talking to the mid and hustling class.
The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse is near.
Credit card debt which I never understood but appears to be a huge issue in the US is the ruin of many
@liam richard new generation bad me old and bitter. Is that what you mean?
@liam richard what do you mean people are more financially educated now then ever before. It’s why boomers had such great ideal conditions and still messed up and can’t retire, they did dumb stuff.
This! I literally had to get a credit card to pay for gas to get to work😭
The majority of the issue is that people don’t live below their means. They want to keep spending the way they were spending before inflation and expect to stay afloat. Adjustments usually need to be made on their budges (if they have any)
Graham Stephan gives me anxiety. He needs to speak slower, and he sounds like brain from family guys Seth Mcfarland. Unsubbing!!
I appreciate the amount of research you did to come up with this great video
Fine, I liked it!
thumbnail. OFC they know Middle class is broke and they don’t care.
VRAU.bani.mej.banka.
Just need to pay normal workers better wages to reduce profits
The government can’t manage that. It’s up to the workers to unionize
The government send me two checks for about $3,700 and I spent $3, 000 on weed $500 on burritos and I’m sure I lost some money somewhere I wish this was a lie
I don’t have kids and I’ve worked my butt of since I was 17. So sick of this government punishing those of us who work and pay taxes!
They WANT to destroy the middle class so there is a bigger divide between super wealthy and poor. That’s what the Great Reset is. They knew what they were doing.
In 2020, Congress *printed* trillions of dollars. And most of you didn’t get a comparable raise to this. And your boss still feels the inflation of money supply.
So where did the money go? Not to anything useful… $50 billion went to bail out airlines. They should’ve gone bankrupt to punish their bad choices, but Congress screwed regular people so current airlines and their lobbyists could keep their money.
This sounds inflationary to me. It may be politically popular but working on supply chains would be a better approach to inflation then giving out more money.
2008 was banking crisis. Now I would short U.S treasury. U.S just became junk. USD is about to die.
U.S debt is unservicable. Rest of the world will not use dollar. Oil is going out of dollar. Swift is also going down. Tsunami is coming.
Good to know they’re fighting inflation by increasing inflation.
How about a law to stop printing money instead?
watch2end&comment
Tax credits indexed to inflation, what could possibly go wrong with that? 😖
More government entitlements. Keep the little people relying on Big Government and believing that is their salvation. This is not what created the wealthiest country in history. Wait and see what taxes are in 10-20 years. 50% plus. Your life will be completely owned by government.
Great video!
compensation hasn’t kept up with productivity or inflation for decades
It’s like everything screws you so you might as well stay home and binge watch anything and everything, but then that has consequences too. “Oh Boy!”
It’s like being in the middle of a minefield but the mines were planted by your grandparents, and the unholy marriage between money and government is hell bent on quadrupling the amount of mines
GenX has heard about the elimination of the Middle class our entire lives. It’s not new “News”
Yes dont spend money just kep it in the bank account and then inflations kicks in and you will own nothing and will be happy.Dont listen to this guy!
Disappointed to see you not call out the White House for their blatant lying and going along with the “we’ve changed the definition of a recession” BS. You’re better than that.
We have been experiencing freight market is down since early this year, sooner or later many trucking companies are going out of the business.
Gee I wonder how that happened
The middle class was the bridge between the “have” and the “have nots”. Once that is gone is when you have a revolution.
They didn’t mess up… This is exactly what they wanted
But Biden said he was going to save the middle class, how could this be possibleeee
None of these bills are getting passed though, the GOP won’t let anything at all through that’s remotely helpful cause they’re obsessed with their team politics bullshit.
Question Do u think millennial spend more money because we want more or things cost more
Too much mony… TOO MUCH MONEY…. Whomever that Moron is that said we got “TOO MUCH MONEY” is an idiot to not add cost is higher so the extra money is like getting paid just barely over the min wages… All we can cover is cost of living and that is without eating more than one time a day or not at all….I taste a metal barrel type of we screwed feeling of misery the moment you wake for another day in hades on Earth… Chasing money until an rnd never able to truly save or invest for old age…so you look around on the tubes to prepare for homelessness because its a more than likely than wealth or even covering the bare min in the future you who is screwed because the current you can get over the hump of no money….LOL
Hey hears a simple easy way to resolve this. Stop giving money out!
I decided to stop spending money a few months ago. No more coffee or dinners out, no more driving to see family or do things, no haircuts, amazon, Netflix, or really anything. Just beans and rice.
It’s almost like bailouts to large corporations and forgiving their debt and cutting taxes on those who hold 90 percent of the wealth is stupid.
That’s where most of the Covid relief went, btw.
So many things can be done cheaply. I have been looking here in YouTube how to make cheaper filling recipes, I take my lunch to work, if we go to the movie is to the matinee and we do not eat anything, I have been selling my clothes online and if I need something I go first to the thrift store. And for entertainment I invite friends over or go to the beach.
Wants to help middle class most things are for people making $100000+ a year.
100k a year is middle class in all major American cities.
I have a 3% APY deposit which apparently isn’t enough against inflation but it’s something at least.
And trading the rest
Sucks that millennials were screwed by (and continuing to be screwed by) the generations above them and they’re going to screw millennials even more to get out if it.
Stop spending! BUT!!! Have more kids so we give you more tax credits. It’s not like having more children is directly correlated to spending or anything…
This is not a mistake, they are breaking the middle class on purpose. We’ve seen this same scenario many, many times throughout history.
That add took me of guard lol stop it pls
Wages may be been stagnant but that didn’t stop people from inflating their lifestyle.
Even with the fluctuation in the economy, I’m so excited I’ve been earning $45,000 from my $10,000 investment everyday 10days.
Wow! How’s that possible please I’ll appreciate your assistance on how to go about it.
That’s a lie…
Yea I pulled majority of my money out of stocks and moved it into whole life insurance policies and real estate. A bit more of a secured return, just less liquids but that’s ok
Interest rates did not create the problem so increasing interest rate ma won’t fix it
Reading about people grabbing multi figures monthly as income in investment even in this crazy days in the market, any pointers on how to make substantial progress in earnings? would be appreciated
Let’s go Brandon
Sure…it is the millennials, not the fed printing trillions………..suuuuure. My bet is these plans/bills will go nowhere because it is contradictory to the recent expansion of the IRS.
Hmmm….I wonder if I’m consider middle class if I make $300,000 a year and have multiple investments with no DEBT. 🤔 🤷♂️