Posted on 08/21/2024 3:12:59 AM PDT by Kid Shelleen
In President Joe Biden’s proposal in the Fiscal Year 2025 Budget of the United States Government, and more specifically in the General Explanations of the Administration’s FY 2025 Revenue Proposals, the Biden administration has proposed a slate of bold shifts in tax policy that could redefine high income tax planning and investment strategies.
Among the most striking initiatives in the FY2025 Budget Proposal is a set of proposals taxing unrealized gains—a concept ---SNIP-- . A shift in tax policy towards tapping revenue streams in unrealized gains is almost certainly on the horizon-
(Excerpt) Read more at forbes.com ...
Don’t be fooled. They want all our money. They will use it to buy votes from their favored groups. Then they will eliminate us.
The question is: what happens when all the producers are poor and dead, and there is no more money to confiscate?
They're not fools. They're thieves and tyrants. The whole point here is to impoverish you, make you dependent upon The State.
Deep State is.
“Great tax me on money that hasn’t been made and hence I don’t have it to pay”
Tax time comes around and a hundred million people have to suddenly sell assets to pay the tax. What happens to the value of those assets when a hundred million people hit the “sell” button? Do you owe the taxes on the day the IRS declares or on the “profit” you made when you actually sell the assets? And if it turns out you didn’t make any profit on your forced sale, do you still owe the tax?
Let’s just call it the
“Elon Musk twitter tax”
If you read The article you see why
Atlas Shrugged
I think this is where the you will own nothing and be happy kicks in. If they can continually tax you for everything you own, people will stop owning things. They will opt for renting and leasing. I am sure they will find a way to add a confiscatory tax to that too.
South Africa is what happens when the producers are all gone.
Is an unrealized loss tax deductible?
It took some searching, but I found the Strength through Joy campaign posters. (Germany 1938-1945) If an ideology can’t offer anything of substance, they go for a meaningless but psychologically loaded term like “joy.” Enjoy at the link.
https://perspectives.ushmm.org/item/photograph-of-strength-through-joy-event-at-strandbad-wannsee
Wouldn’t it be easier to just go back to barter?
I said five years ago that the Demoncrats and the GOPeahens would confiscate our savings.
A poison pill amendment would be to include the college endowments in this tax scheme. Imagine all of the major universities having to pony up $10 Billion each in taxes.
EC
That’s scary accurate.
It isn’t enough to tax the hell out of you as you now earn and convert your income; they NEED to tax what you’ll be getting.
They’ve hocked our honor, integrity and blood, sweat and tears for massive pandering spending to stay in power.
That’s the ‘joy’ the Hairy/Balz-2024 campaign is talking about.
“They will always be able to find someone worse off than you to justify taking everything you have.” - so true.
This brings to mind one of the 10 questions a leftist cannot/will not answer: how much is enough? or what level of income should be taxed to the max?
No answer will be forthcoming because in the darkest part of their being their answer is: anyone who makes more than I. Of course that answer must never be verbalized because it puts a target on their back for everyone below them to aim for.
As Margaret Thatcher once said, “The problem with socialism is, sooner or later, you run out of other people’s money.”
They’re not fools. They want a world in which ‘you own nothing.’ Just part of the plan.
“What about ‘unrealized LOSSES’?..”
That will be limited to $3k per year.
Property value will be next.
You will own nothing and be joyful.
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