President Biden is urging Congress to pass an aggressive capital gains tax hike that will hurt seniors’ retirement income. While his capital gains plan is focused on Americans making over $1 million per year, corporations will adjust their dividend payments to help high income earners avoid taxation, hurting everyday Americans who use dividend income. This shift will not only alter U.S. investments in the stock market, but it will also hurt millions planning on retirement.
The increase in the capital gains rate will decrease the long-term net worth of millions of retirees as they are forced to sell shares while the wealthy can simply borrow against the value of their investments for additional income. Seniors subsidized by dividend income will see less liquid cash come from their investments and instead be forced to reduce their investments putting millions of Americans in a worse financial position for the future.
Please contact your members of Congress to urge them to oppose harming millions of seniors by increasing capital gains. This proposal will ultimately have the opposite outcome of the intended goal to tax the rich.
Copyright © 2024 AMAC, Inc. / AMAC Senior Resources Network. All rights reserved.
Please, please, PLEASE get these Democrats off of our collective backs!!!
Since January 20th, Biden and his “squad” have done more harm to the US than any president since at least FDR. We must reverse the majorities in congress ASAP.
Again the democrats could care less about law abiding tax paying citizens. Democrats want to steal your money and kill you because you are standing in the way of destroying America and the ideals we stand for-treat others the way you want to be treated!!!
I sent it but being in the demon rat party who feels they can do anything they want, I do not know how effective it will be. most of the time it is like talking to an alien from another planet, they seem to have lost their connection to the human race. and many have black eyes with no light in them.
THANK YOU so very much for all the “leg-work” & research you all do to keep us informed of what’s going on. & thank you for composing notes to our congressmen: some of us might not be as nice as you “write” & still get the point across to our “leaders”. As for insults to you: “eat the chicken & throw away the bones.” 🙂
Yeah, lets beg our employees to do something for us LOL! That is what AMAC is saying, right? No one has to wear a mask, no one has to get the jab. No one can make you do anything, it’s all about consent.
After being with AARP for many years thinking what a wonderful organization and then finding out (to me) that there a LEFTWING group who SUPPORTS DEMOCRATIC IDEOLOGY that FUNDS destructive ways that robs us of our way of life. Over taxation, making sure BIG PHARMA makes EXCESSIVE Dollars, and they just OUTRIGHT LIE to US DAILY. Just retired and finding the challenges that go with it and making the right decisions so that we can have a decent retirement. Our government officials only care about themselves so we need to make sure “WE PUT THE RIGHT PEOPLE for US”!
I really do see a lot of brainwashed people here!
These people just love scare tactics. Think about it people. What have these Republicans offered to make life better for the middle class? They don’t want Medicare to negotiate with Big Pharma because they are afraid that their donors won’t make enough money. Trump talked about his health plan and it was coming out. What happened? We never saw it, because they have never had a plan for average working people.
It is time for all voters to realize that taxes are high enough already. The thing that is needed is control over runaway spending that is driving us inexorably towards bankruptcy. Force government at all levels to live within their means, just like us ordinary citizens must.
Phil in TX
Unfortunately, every representative where I live are commie Dems. Think I’ll get anything from them? NO, already tried.
I have tried to talk with my representatives. They pay no attention…they are liberals, so I really have no representation at all. Ohio.
Demand term limits for all politicians
I made the effort to contact my representatives but I highly doubt that they will even consider it because they all are on the progressive bandwagon, following AOC. (being capitalists, as it benefits themselves but not a care for the people they represent). I highly doubt that the corporations are going to “accept” higher taxes without passing the cost down to the consumers, plus they have all those lovely tax loopholes to hide the income from taxation. The problem is they don’t want us to realize this and try to twist the story. Hey they voted this problem on themselves.
O’biden doesn’t give a tinkers darn about WE THE PEOPLE. The elite seek their elevation at everyone else’s expense. I hope their peer esteem will be sufficient for them. They have NONE, ZIP, ZERO, ZILCH, NADA from the rest of AMERICA and THE WORLD. Everyone sees their treason. You increase cap gains, I’ll not sell. I’ll simply cease operations. No tax, no nothing. I sure as heck am not motivated to give the free spending administration more to spend- on everything but AMERICANS. Btw, you kill me with your DEMPANIC and you will own my death. I’ll testify against you at the last day.
Tell Biden the Seniors will end him and his presidency if he doesn’t stop being a fool.
Perhaps government. officials should forfeit their income for a while and let America catch up on their revenue. You think that would ever happen?. Also when your term is over, it’s over. No more payday from the government. Just good old SS retirement. Now think about that!
STOP this foolish free hand outs to the ones that are more than capable of working and start giving more to our seniors so they can live better.
It’s time to stop the “king” from continuing to hurt Americans!
Tell President Biden to stop taking more of our hard earned retirement. He can use his I’ll- gotten fortune!
Biden is no friend to the people who are the backbone of this country. All he cares is who can pay him the most in campaign contributions. He doesn’t know what it is to get by paycheck to paycheck. He doesn’t care about the average person. This country is a disaster ever since Biden took office. Why people voted for him all because they hated Trump
This is a total ship wreck! I am totally against anything DemocRATS propose!
Biden, Pelosi, Schumer and crew are trying to destroy our country. It is time for the Republicans to grow a backbone and stand up to these Socialists
Can we please pot Trump back in the White House!
I agree. Biden/Harris/ pelosi spend money on illegals, to other countries and Palestine for their pay to slay. Americans who have the burden of paying the taxes get little to nothing. It’s obvious . They care more about making themselves rich and paying other countries than the American people. Thanks you all you rumdumbs who voted for this inept duo. Look where it’s gotten us.
I wasn’t sure how I was going to spend that whopping 1.8 per cent cola I got. We lose money each month. Joey needs money to provide for all the illegals! Govt doesn’t care about seniors, that’s obvious.
I’m very tired of Biden/Harris raising our Taxes its always hurting lower class which includes Elderly like my mom. She doesn’t make enough on SS to enjoy life now. They keep saying Tax the Rich. However they tax companies that pass along high prices to us. They don’t feel the pain of low income trying to buy healthy foods. Thank you.
Please oppose harming millions of seniors by increasing capital gains. This proposal will ultimately have the opposite outcome of the intended goal to tax the rich.
Stop the tax and spend ideology. It’s not the American way.
Stop this tax and spend ideology. It’s not the American way.
Everyone doesn’t happen to be a millionaire. Some of us live on pensions, retirement and or social security. Please fight for Seniors who are your constituents, too.
What you don’t understand is that the Democrats Don’t give a rats ass about seniors or anyone else for that matter.
What you don’t understand is that the Democrats Don’t give a rats ass about seniors or anyone else for that matter.