Please tell me this can’t happen. Won’t happen.

[DarnYankeeUSMC]

They turned a blind eye to the stolen 2020 election.


My house is revalued every year so they can raise my property taxes.

Turning a blind eye on the 2020 election was the easy way out. They knew that if they had followed the law the antifa/FauxBI/Soros funded brown shirts would burn down the country.

Wait until they decide that the difference between tax appraisal and fair market value is unrealized appreciation and you owe taxes to the Fed along with your county tax.

 

[Downtown]

An actual wealth tax, as proposed by Liz Warren and not really the issue in Moore v, has proven almost impossible to administer and usually fails. Even Europe, the Progressives dream world, has given up on the idea.

https://www.npr.org/sections/money/2019/02/26/698057356/if-a-wealth-tax-is-such-a-good-idea-why-did-europe-kill-theirs

 

[Ronws]

Exactly this. This is how you will “own nothing”

Actually, we already own nothing. Don't pay your property taxes and the county sheriff will serve a notice and the county will take it from you.

 

[vinniedelpino]

I’m in agreement with downtown. It‘s virtually impossible implement a system like this. Pulling 1250 property, intangibles, art and other tangible goods and collectibles into the mix is unrealistic, and if securities traded on open markets are the only assets subject to tax on unrealized gains anyone with a pot to piss in will liquidate their positions in favor of alternative investments… thereby causing world markets to crash. Overnight. Catastrophically.

Thats not to say taxation on unrealized gains doesn’t already exist. Look into how estate taxes work. This is the primary reason why dynasty trusts exists. Most of us are just too poor to care.

 

[rtB]

It‘s virtually impossible implement a system like this.

It hasn't stopped them before. They will definitely try to move the needle. They can't help themselves.

After all - it's their money, they're just kind enough to let you use it.

 

[EddieNFL]

Taxation on something that may well never happen? Tax you because your house or portfolio could double in value, but what happens if the value tanks? Or if those things go up in numerical value but down in buying power?

(Rhetorical questions)

Here is a local example. County I previously resided in: Property taxes could not be increased by more than three percent. If value decreased, millage rate remained the same...unless they wanted to increase by up to two percent. Lots of "citizens" learned this after the '08 crash.

 

[vinniedelpino]

It hasn't stopped them before. They will definitely try to move the needle. They can't help themselves.

After all - it's their money, they're just kind enough to let you use it.

I don't doubt that they're up to no good.

I'm just saying there are much easier ways to accomplish their goals. Why move a mountain when you can go around it?

It'd be a hell of a lot easier to cut the lifetime exclusion and eliminate tax sheltered trusts. All unrealized gains are now taxable to the individuals estate upon death, we cut down on appraisals by 99.99% and Uncle Sam still gets to rob you blind with a fraction of the legal challenges, headache and expense.

 

[isofahunter]

I don't doubt that they're up to no good.

I'm just saying there are much easier ways to accomplish their goals. Why move a mountain when you can go around it?

It'd be a hell of a lot easier to cut the lifetime exclusion and eliminate tax sheltered trusts. All unrealized gains are now taxable to the individuals estate upon death, we cut down on appraisals by 99.99% and Uncle Sam still gets to rob you blind with a fraction of the legal challenges, headache and expense.

The estate tax exclusion is set to be cut by nearly 50% in 2025. 13M to 7M per individual, this of course can be changed by Congress and probably will be, but no guarantee and I am sure fuckery will be enjoyed by all.

 

[vinniedelpino]

The estate tax exclusion is set to be cut by nearly 50% in 2025. 13M to 7M per individual, this of course can be changed by Congress and probably will be, but no guarantee and I am sure fuckery will be enjoyed by all.

Of course. The lifetime exclusion has changed over the years just like anything else tax related.

In 2000 it was only $675k per individual. This is what I was getting at when I said there are easier ways to tax the shit out of unrealized cap gains.

Nothing about this proposal is even remotely realistic and frankly, whoever's behind this is a window licking 'tard.

Standard government fare... nothing to see here.