Posted on 05/19/2021 5:36:48 AM PDT by george76
Democrats Motto: “What else can we tax?”
I don’t see how this affects farmers. They buy land and keep it. It affects their descendants who would rather sell the land than farm it. Easy enough to avoid though. Cash down payment, off the record, with original cost of land as the on the record transaction. No profit, no taxes.
Land was purchased for $100,000.00 and you sell for $130,000, do the $30,000 as cash and record the $100,000 sale on the record. No different from writing the sell price of a car at $500 on the title instead of the actual $1500, to save on sale’s tax. People do it all the time.
cuz screw the government
Enjoy the unsustainable debt.
Yeah! I read the article [more or less] and especially enjoyed the part where the millennials must give up the American dream of owning a home. They voted for the son of a bitch. and the millennial Self Hating Whites [not the Blacks] voted obama into the White House twice. Let them reap some of what they sowed. They are supposed to be so intelligent but they did not realize that President Trump probably have helped then get a home. Now Biden is going to take said home from them. Hell with them.
This is just a follow-on to the engineered shutdowns, which were designed only to destroy small businesses.
Are you happy now you idiots?
“Orange Man Bad’’ is gone and Mr. Magoo is in The White House.
Arschlocher.
Many of us escaped. I did. 20 years ago.
Biden tax proposal will greatly increase the cost of farmland and thus food prices, property prices and rental costs.
All the Biden voters and media must be proud of how they got rid of Trump now they get to pay for their stupidity.
FTA: the CA tax regime pushes up the cost of a home ~ +37%.
!!!
Plus the added fees for anything the gov’t comes up with.
Then there are the HOA fees!!
If you are a married couple and have been in your home for more than 30 years in a high appreciation area, you can avoid paying capital gains tax on your gain if one of the spouses dies while you are living in the home. That’s because the basis is stepped up to market value when a spouse dies. We have been counting on that strategy for a long time as a way to make sure the surviving spouse can sell the house, downsize, and get a big tax-free gain. It also provides a good estate for our children.
If the ComDems eliminate the basis step-up, we are going to pay 40% state and federal taxes on our gain. They are planning to steal a good chunk of our lifetime savings, destroy our retirement financial planning strategy, and steal much of our kids’ inheritance.
I thought I hated the fed govt under Clinton and Obama, but it was never this bad. Of course, this is Obama III.
Hey, not if you give him a cut.
Ever want something and someone else buys it before you can make your move? ... It happens all the time. Mortages can be useful in seizing those opportunities. It's all about taking control.
I agree that you're not the "owner", however you are the "controller", and that's much to be said for that. I'm going to make an offer on a plot of farmland. If I get it, it will be with a mortgage. Once I control that property I'm going to begin paying it down at it makes sense. While I'm maybe paying 4% on the loan for that property, the dollars I've not used to buy it outright can put into other use that may generate well over 4%.
Control first, own when it makes financial sense. If that requires a mortgage, so be it.
Agenda 21 ping
Everything going on in this government has Obama’s finger prints on it. It’s a fundamental transformation!
Gasoline prices are now at levels unseen since Hussein.
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