Posted on 08/31/2024 7:20:23 PM PDT by Mr. Mojo
That’s basically paying taxes on money you _could_ have but don’t have. Yes?
Every year???
Surely the courts would knock it down for the theft it would be?
“Dusky Rascals”
I must admit: I LOLed!
What if you have unrealized “Losses”?
Exactly. Your home, gold, silver, antique car restorations, anything that gains in value after you buy it. I wonder if these idiots in congress considered how it would affect them and their windfall profits in the stock market? Assuming of course, that they actually pay taxes in the first place.
No wonder the dipstick Leftists want to do this. The key description that makes them salivate at the thought:
"In effect, it would turn property owners into property renters, with Uncle Sam as their landlord."
It is an astonishingly warped and evil concept, as are nearly all Marxist ones from which this is derived.
What is that saying? "You want a civil war? This is how you get a civil war."
OTOH, I believe we have surpassed the fabled tipping point, where the people voting for people to take money from someone and give it to them has surpassed those who earn the money.
This is all by design. We are in great danger.
the courts would knock it down for the theft it would be?
————-
No, the property taxes you pay now is taxing unrealized gains. The comps they use to tax you are from recent sales. You are taxed on those values even tho you never sold.
Capital “Gains” need to be indexed to an individual’s actual, personal inflation rate calculated over that individual’s annual experienced inflation.
No more inflation tax.
We already pay real estate taxes on inflated home valuations. We were just assessed at a huge increase in value; I expect our tax bill next year will be at least 30% more than this year. And we have made no improvements to the home in years. If we were to have to pay income taxes on the “gain” due to the increased assessment, it would be a huge setback in our (generally stable and well planned) financial security.
Time to sell and go sleep in your car/RV…..
Sadly, in the America we have now, we cannot depend on the law or legality to save us.
What we have seen is that the Left has done two things: They have largely captured the courts, and when the courts they have not captured rule against them, they dismissively ignore them...with no penalty.
We are in great danger. Those of us who still pay taxes are at risk of becoming actual slaves to those who vote to take our money from us.
So what will be the little loophole that exempts politicians?
Chief Traitor Roberts is to blame for the demise of the Leagle System.
[It was never about Justice].
…Beagle….
So what will be the little loophole that exempts politicians?
The worst impacted would be breakthrough drug company shareholders.
They could easily be muscled out of the fruits of their hard work.
Commissioner [of the IRS)],
We’re prepared to pay $1 billion for Great Discovery Ltd. Send the shareholders a bill for $250 million.
Big Pill Inc.
I have long since come to believe he is being blackmailed. Probably a homosexual or child molester.
It is the only thing that really makes sense, but the man is a human stain.
Agreed.
My proposal for a constitutional amendment:
Levies on any residential property of less than 2799 square feet of finished living space shall be no higher than the 2019 dollar amounts on the property, or for a newer or since resold property no higher than what it would have been levied at for 2019 if it lacked owner specific tax breaks, increased by 3% per calendar year since 2019 and by any percentage increase to its finished living space.
Drop a constitutional amendment proposal bill in two congressional hoppers and fight to limit the ability of Democrats to buy votes at the expense of the middle class. It might make Congress deep red come January.
Give Trump more New England, New York and New Jersey congressional representatives.
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