Hmm maybe I should be spending g all the money I'm putting in the markets on ammo, water filters, salt, ect instead.

Do you realize just how little that is? Particularly when you toss in current inflation and the added inflationary pressure of her proposed first home buyer policies?

I recall one family dairy in Jefferson County AL that had the largest, at that time, mall in the southeast built right next door just down from a major interstate off ramp. The roads around it four laned and built out to the max. The only thing that kept it in the family was the 65yo+ mother's homestead exemption. The county waited like vultures for her to die.

Yes, it eventually sold and the heirs made a pretty penny but it was a forced sale and under this tax scheme it would've put and elderly woman out on the street and her heirs would've got chump change for it.

Ha! Who determines the value of assets nowdays? A New York judge?

Ol dad

"Henley Partners reports that, among the $65 trillion in total U.S. private wealth, there are 5.3 million people worth $1+ million, 9630 worth $100+ million, and 770 worth $1+ billion. This firm helps rich people get citizenship elsewhere, and their 2023 study shows a spike in Americans wanting out."

100 million is just to sell it to idiots. The cut off will go down.

So what have those 10400 hard working souls done to you that you want to steal from them?

What happened to equality under the law?

Jealousy is an ugly thing.

And I would dispute those numbers as being much higher, particularly when you consider corporate holdings.

But I said the C word so tell me how that's bad as well.

According to this article, top rate in 1944 was 94% for anyone over $200,000 income. War cost money and building it back after we tear it down likely cost even more.

Maybe they could set up a plan where the company's with profit tied directly to the war machine could be taxed higher rates. Maybe they should sacrifice as well as those giving blood to the cause.

https://bradfordtaxinstitute.com/Free_Resources/Federal-Income-Tax-Rates.aspx

Naw that would cut into my dividends!!

It would be an annual tax on the value on Dec 31st. You lise every year.

About time to sell out and live in a national forest.

I just bought a new Lincoln hybrid. $$$. Someone else wants to spend it if I don't.

If that's the case, since you have kids you might end up paying double, cash and service. Doesn't seem fair when some have to give all while those at the top give nothing and in fact make fortunes, but I guess that is their destiny?

"Almost everything you own and use for personal or investment purposes is a capital asset. Examples of capital assets include a home, personal-use items like household furnishings, and stocks or bonds held as investments. When you sell a capital asset, the difference between the adjusted basis in the asset and the amount you realized from the sale is a capital gain or a capital loss. Generally, an asset's basis is its cost to the owner, but if you received the asset as a gift or inheritance, refer to Publication 551, Basis of Assets for information about your basis. You have a capital gain if you sell the asset for more than your adjusted basis. You have a capital loss if you sell the asset for less than your adjusted basis. Losses from the sale of personal-use property, such as your home or car, aren't tax deductible."

Source: IRS

Be hard to have my 100 million in paintings, jets, yachts, 12 homes, and race horses and island appraised every year.

Guaranteed all politicians will be exempt

Dirt, the whole thing is an income redistribution scheme. What do you think those 82,000 armed IRS agents are for?

Political rhetoric. It was 87,000 and there was never going to be 87,000 new IRS agents. It was just some increase in the IRS budget that some Republican tried to sandbag with the" 87,000 new IRS agents " fear. "Fear" is one of the prime movers of human behavior. This new tax scheme is just the Democrats tired old" tax the rich strategy" (that probably will never happen) that plays well with the American public.

The road to serfdom boys and girls.

The end is near! Buy Gold! Make Steve some money. The gold hawkers are some of the worst fearmongers.

Yeah, okay. You about worried yourself to death over a $100 bet. lol

And almost nobody paid for it.


Really this will keep people from owning assets unless they generating enough money from other activities to cover the new taxes. They will eventually be forced to sell off the assets to pay the taxes. Question then would be would they also have to pay capital gains after those sales as well.


All taxes are pretty much evil but capital gains, property tax and this potentially new unrealized gains taxes are especially evil.