Posted on 09/24/2021 5:47:44 PM PDT by libstripper
Yes.😫
They want our IRAs and 401Ks.
Absolutely!!!
I was thinking a law that says 90% of the gains a politician gets while in office are paid as tax for the privilege of serving. No matter what the gain comes from.
It’s no more unfair than what they propose for the rest of us.
It’s both a cartoon and a comic book.
Interesting enough there is a certain episode that shows what happens when you print to much money, too bad the politicians never saw it.
It will be interesting to see how they plan on dealing with real estate valuation and union pension funds. There are going to be an awful lot of very unhappy people here.
Don’t have time to read through the thread, so I will just say, ‘if the rich have CASH accumulated the fedzilla cannot even assess it unless they raid the rich compounds and storage bins. If cash is turned into an institutional acount then the rich do not have that cash, so what are they setting us up to misunderstand? Was this deception used when the fedzilla force all gold to be turned in?
If they tax unrealized capital gains, what happens later on when the value of those investments goes down? Will the victim get to claim a loss? And if so, will there be an annual limit on the amount that can be claimed, thus spreading the loss over a number of years?
This is insane, a record keeping nightmare, which is why Xo Xi Dung likes it.
Thanks.
Yes, too bad huh...
You really need to learn how to read your year end, or quarterly for that matter, IRA statements. They will show you unrealized gain for "the period" and "for the life of your account". For example, if you look at your year end statement, you will see the account value at the beginning of the period and the value at the end of the period. Let's say it was $500,000 on Jan 1 and is now $580,000. It will also tell you that that is $80,000 unrealized gain for the year. That $80k is what they want to tax, in addition to your regular withdrawal.
How do you think you built up your IRA without gain being a large part of it? Gains are what cushion you from depleting the account quickly.
biden, and the top tier Democrats and RINOs, are much more wealthy than I am.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.