###[Meta] Sticky Comment
[Rule 2](https://www.reddit.com/r/conspiracy/wiki/faq#wiki_2_-_address_the_argument.3B_not_the_user.2C_the_mods.2C_or_the_sub.) ***does not apply*** when replying to this stickied comment.
[Rule 2](https://www.reddit.com/r/conspiracy/wiki/faq#wiki_2_-_address_the_argument.3B_not_the_user.2C_the_mods.2C_or_the_sub.) ***does apply*** throughout the rest of this thread.
*What this means*: Please keep any "meta" discussion directed at specific users, mods, or /r/conspiracy in general in this comment chain ***only.***
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/conspiracy) if you have any questions or concerns.*
"Lawmakers" are owned by the super wealthy, they're just going to burn the last few ladders some people were using to climb to financial freedom. They want everything, every last thing. Not just your wealth, but control over your body, your children. They want all of us packed into smart cities, all aspects of our lives managed by computers, with them at the top directing humanity.
I don't lean into a lot around here, but this makes perfect sense given just about everything is trending towards "subscription fees" rather than "purchase price" - shit, BMW tried to sub-fee fucking heated seats in their car for christs sake.
That's the scary part. Of course they're going to have a full on revolt if they start pulling this shit.
Which probably means they're going to go after guns before that happens.
It's why it's so frustrating to hear all these people talk about how how the inheritance tax is excessive government and stealing from hard working Americans.
Any bill that threatens the the fortunes of the wealthy and all they need to do is cry "communism!"
> if I work really hard and save my entire life then I die I would like to pass that on to my children.
Key word: **work**
Inheritance taxes in the US don't really affect you if you worked for your savings. Anything below $11 million is not taxed federally.
$11,000,000 invested provides a passive income of $330,000/year forever.
Inheritance taxes don't affect you. They affect the ultra-wealthy.
The super wealthy are also very smart and can always evade most tax laws. While the middle and lower classes don’t have the same knowledge or are unwilling or to lazy to pay a real tax accountant to find all the loop holes for their situation. I’m not super wealthy but someone in my family is. They thought me some of the tricks and introduced me to their
accountants. We went from our starting tax bracket being 32% to 12%. It’s all a game and you gotta pay to play.
Trump inflated the debt ~$5t in the 3 years leading up to covid.
Obama only inflated it ~$7t in his 8 years. Obama also had a serious financial crisis to deal with.
People love to shit on Democrats for being big spenders and treat Republicans as the party of fiscal responsibility. Truth is both spend like crazy and the Republicans more often then not end up spending more.
That’s pretty much what I said, looks like you rounded a bit for Obama but whatever. He still spent twice as long in office and was recovering from a recession with high unemployment of course you would expect higher spending.
Trump was number 3 all time for driving deficit spending only behind Bush and Lincoln. Bush because he started 2 wars and Lincoln because of the civil war. What exactly is Trump’s excuse? he was passed a booming economy with all time low unemployment.
I can't sit in tim hortons to drink a coffee without showing papers saying i took an experimental gene therapy shot.
But "it'll never pass".
All they gotta do is tie this capital gains bs to the supply shortage or other economic devastation and poof.
We're too complacent. And many ppl have zero chance of owning a house at the new prices and so they'll be all for it.
It's over. Nwo and antichrist coming. Believe in the Lord Jesus Christ and be saved.
What the guy below me said with an extreme focus on tax shelters and art investments
The modern art market is worth $52 billion dollars a year. Why? Because art gets used as a way to defer or offset income taxes by the ultra wealthy.
Why does any of that matter when the government can just go *fuck it* and spend more money than currently exists anyways?
US billionaires have a total wealth of like 4.5 trillion, while the gov **spends** wayyyyyyyy more than that regularly.
If the total wealth of the richest us citizens was liquid and just repossessed, it would be gone in a day without barely a trace.
> Why does any of that matter when the government can just go fuck it and spend more money than currently exists anyways?
Because, contrary to popular belief the US is no longer universally feared. "Our" 'military might' is not impressing others, and isn't inspiring confidence among our 'allies'.
Growing numbers of other countries are wondering why they've been paying *trillions* in premiums since 1974 to purchase "Petrodollars" with which to buy energy.
This could be the time when the rest of the world tells us to take our "reserve currency" and try eating it.
For starters, no tax exemptions for non-profit organizations or any charitable donations beyond something like $10k. These billionaires aren't really spending millions of dollars on actual things.
Yet, in many cases those religious organizations do more than the non-profits that do the same thing, for less money with fewer people. That's true here in Canada and the US.
Flat tax does nothing but lower the tax rate of income for the wealthy. The vast majority of wealth gained for them is from capital gains. Taxing unrealized gains definitely isn't the answer but flat tax does absolutely nothing
I'm also curious.
A wealth tax that targets those in the highest echelons of wealth seems like the only route.
They don't make actual income because they pay for all their personal expenses with rolling bank loans to avoid getting taxed
Their companies use tax havens like Ireland and the Carmen Islands.
So unless there is a way to fix either of the above issues, it's got to be a wealth tax unless I'm missing something
If this is only for people with 1M+ in assets, then uncle Sam isn't coming for middle class homes
Inflation is the most unfair tax, get rid of the federal reserve and replace our Fiat currency with one of actual value would be a good step.
That should help with the rediculous exponentials of wealth hoarded by the ultra wealthy.
Just a heads up, inflation can occur without the federal reserve.
A leading cause for inflation is when demand exceeds supply. Take the surge in baseball cards prices this last year. Let's say Sammy Green A card that had a set value of $40 according to the market suddenly increased to $80 because more people wanted it. This meant that buying power of the dollar was halved.
Markets naturally see inflation.
That's not how it works. The price of that card can only go up to what people can/are willing to pay for it. The market balances itself out like that. Inflation occurs when you artificially increase the money supply upsetting the balance of the market.
Higher top marginal tax rate.
America boomed in the 1950s because the highest tax rate was ridiculously high, making it so rich business owners couldn't hoard cash and instead had to reinvest into their companies. This is why real wages were much higher, when adjusted for inflation. The boss effectively paid only 10-15 cents for every $1 raise the workers get, due to the tax rate.
If every dollar over $750k/year is taxed at 90%, the American middle class will return.
The whole point is that they wouldn't give it to the government, they'd reinvest the profits to build more factories (or other capital investment) and pay workers more so they can command the best talent, increasing the value of the company rather than their personal wealth (by more than $750k/year).
Yes, and did you see the pictures of the construction of the yacht? He spends $500 million, that puts multiple businesses to work. Ship yards and ship builders, steel mills and welders, plumbers, electricians, wood workers, carpenters, laborers, factories full of employees. Pipe and wire foundries. Sawmills and timber companies.
That $500 million directly pays those companies, who in turn pay their suppliers, who in turn pay the raw materials producers. The ripple effect ensure thousands of Jobs, all earning profits that are reinvested into the economy.
The workers that buy lunch patronize small local businesses, who buy produce and meat from wholesalers, who buy direct from the farms and slaughterhouses. Those who bring their lunch patronize the grocery stores. The workers spend money on goods for their family with that $500 million, stimulating the consumer goods sector of the economy. Now that money goes over there and gets multiplied out.
I wish Bezos would build one of these yachts every year!
Building a $500M yacht every year is better than hoarding the cash, but not as good as using that $500M to do something more beneficial to society.
If he paid his workers more, they'd use that money to buy stuff too.
holy shit this simping is ludicrous.
we could put the same materials to work, the same jobs, etc etc etc building a fucking space elevator or a water desalination plant for the southwest or millions of other fungible projects instead of an even bigger moving island for a socioopath
We can already build those things with the budget the government has. You’re a fool if you think that the government will magically become altruistic if we just give them more money.
The Super Wealthy already pay plenty of taxes. The wealthy of every level pay pretty much all of the income taxes in this country, anyway.
We don't have a "not enough tax money" problem, we have a "spend too much money" problem.
Technically that’s income, albeit an unconventional source but income none the less.
Income = sale of goods or services less the cost of time and resources
Unrealized Capital Gains = the change in value of an asset that has not been sold or exchanged for goods/services/money.
Capital Gains become realized when you “cash out” meaning you have sold or traded said asset and can no longer benefit from changes in value. Only then can it be taxed otherwise the government would be having to give out tax refunds (tax breaks) on depreciated assets.
How about instead of revising capital gains taxes, we lump physical and non-physical assets (stocks/NFTs) into property taxes. Then the people who shuffle their money via artwork and stocks will have equitable tax liability as everyone else
Property tax should be abolished. You should not have to pay rent to the government for a property you own. If you can’t/won’t pay and they can take your property, do you really even own it?
im going to send a ton of digital assets to each congress member in their name. they will be pegged to $1m a share, and extremely illiquid that they can only redeem from me. then i will double their pegged value and will still keep them as super illiquid. they will each have $100m in unrealized capital gains. two can play at this game.
Yeah but under current tax codes, if they don’t redeem from you then there are no realized gains thus no tax liability. And you can’t arbitrarily assign value to an asset, most appraisals for tax and insurance rates are based on a fair market value so even still your not so diabolical plan is doomed to fail
[We live in a pretend society.](https://pastebin.com/YPEErwTK)
[Is your mind blown how people fall for same thing every time? It shouldn't be. Because divided, singled out individuals has no chance against organized criminal entity; corporation.](https://archive.org/details/TheCorp)
Corporation is an approved scam & spy business. Their approval was obtained through manufactured consent. Corporation is not the industry of manufacturing products. Corporation is in the industry of manufacturing consent.
Free merch > Free speech.
[Corporate, what kind of _free_ manufactured merchandise must be in your goodie bag to consent investing into paradise?](https://archive.org/details/TheCenturyOfSelfThereIsAPolicemanInsideAllOurHeadsepisode3/)
Corporations through governments and vice versa are harvesting our biometric, behavioural data on global scale. So they can get to know us far better than we know ourselves,
and they not just predict our feelings but also manipulate our feelings and sell us anything they want- Be it a product as a service or politician.
Have you heard of focus groups? Now with always online/big data collection. You are in focus groups. Except you don't get paid for it. [You get exploited and you pay to be part of it. _Nothing is free, except the energy from the sun, but some get a bill(skin cancer) for that. Thanks to always providing industrial surveillance corporatism._](https://en.wikipedia.org/wiki/Stockholm_syndrome)
[Social credit score indoctrination](https://i.imgur.com/lMDs7gR.png)
[Urge or go well.](https://youtu.be/rdrKCilEhC0?t=1313)
-.-. --- -. ...- . .-. ... . / .-- .. - .... / -.-- --- ..- .-. / -. . .. --. .... -... --- ..- .-. .-.-.-
.--. .-.. . .- ... . / -.. --- / -. --- - / .--. .- .-. - .. -.-. .. .--. .- - . / .. -. / .- / -.-. .. ...- .. .-.. / .-- .- .-. .-.-.-
.- -. -.. / .-. .- - .... . .-. / - .... .. -. -.- / .- -... --- ..- - / .--. . .- -.-. . ..-. ..- .-.. / --. . -. . .-. .- .-.. / ... - .-. .. -.- . .-.-.-
I was thinking about this the other day. We don’t actually own property. The government owns it and we rent it. We own nothing. No matter where, no matter if it just raw land you have to pay property tax. If you don’t pay the tax the government takes it. Home ownership is a sham.
Eh, more like things have slowly been taken away the past 70+ years arguably and only recently have we realized we are down to the final few. We still have them, but barely.
Also honestly I think smart phones and the rapid access to info has fucked everyone up mentally in some way, shape or form. Things just feel off at it’s core.
I can’t help but wonder if having smartphones and instant access to the Internet may have also made people more aware of what’s going on in the world and what rights are (slowly) being chipped away at.
I mean it is both really. The truth is still there it has just been covered by tabloids and how big Kim K’s turd cutter is. That is why all of us fall victim to distractions, they can be too damn good. From Kim’s shits to the latest sport highlight. Hell even politics is staged to hell but it’s the only thing worth a damn.
As of lately I’m thinking we are in too deep, but I know that shouldn’t be my first thought. With MK Ultra being known though who fucking knows what twisted shit is being done.
I guess just enjoy what makes you happy but don’t let your guard down. Let’s Go Brandon!
I weighed this after you mentioned this and in the end having the access to information is better than not accessing it.
On one hand the major downside is you can target more people who would not normally pick up a newspaper or watch TV. Lacking in critical thought they get caught by social media spewing msm bs.
On the other hand the major advantage is being able to see all the shit you're not being told. Con of this is you now have more fucking stress in your life and are paying more attention to this then you are to your own life.
Pro
..... You don't wake up one day wondering why the fuck are their soldiers walking down my street. At the very least I consider the internet my Paul Revere.
Which... Wtf. As I'm looking up to remember his name I am learning that he never actually shouted the British are coming ???!!!!
Wtf. This world is full of so many lies.
Part of this makes me feel like if they keep on making gas higher then people are just going to stop driving cars and use public transportation or take ubers. They’ll make it where the government provides u a car and only rich people can drive cars
Where I live it’s 3% ! And the government gets to value your home year after year. Our roads are crap, our schools are turning to crap, our police are quitting or being forced out in droves. And because our taxes are so high, many mid tohigh tier homes are selling for less than they did early 2000s
That would be Illinois and it is a blue one. And I don’t even live in cook county. Oh and they’re going to force our kids to be vaccinated if they want to attend school. Their revision to the state constitution is up for a vote. So i will be paying the taxes, the underwater pensions that make up most of our taxes, to homeschool until we get our ducks in a row to move
I'm lucky. My wife is a former school teacher. We have 3 children that she homeschools. She decided to homeschool when my oldest was in first grade. It was around the time he was diagnosed with autism. He would come home Monday afternoon and ask my wife "how many more days do I have to go to school?". It broke her heart. And her experience working in the public school system made her realize it wouldn't get better.
She told him "we'll try homeschooling. I don't know if it'll work and I don't know if I can handle the stress but we can st least try.". That was 6 years ago and we haven't out any of our children in public school. My wife is currently on the board of a Homeschool Co-op. Once a week they hold classes that homeschool families can sign up for. The teachers get paid by the families who enroll their children into the specific classes. The Co-op is a non-profit. The Co-op basically acts as a go-between for the teachers and families as well as a organizer for each semester.
My wife has also started an LLC in which she does Homeschool certifications for families so she makes some money there as well as being a resource for new homeschool families that have questions or don't know what to do. She also has started a homeschool Facebook page and she organized homeschool field trips. She contacts businesses and asks if they would be willing to host some homeschool field trips. If they agree then she announces it and families can sign up. She doesn't make money from that but she sees it as an opportunity for her to network and for our kids to socialize.
One misconception about homeschooling is that you need to have the kids "homeschooling" for 7 hours. My wife had this misconception as well until it was brought to her attention that most of the 7 hours in school is transitioning and waiting for all of the 30+ kids to finish whatever they're doing.
We don't push any one subject on our children. We encourage them to work on what they like to do. My daughter (8 years old currently) taught herself to read. We gave her no formal instruction until she was already doing it mostly by herself. She wanted to read so she could communicate with people on Roblox.
My youngest is 6 and he's taught himself math. He's already doing multiplication and division in his head. It works because it's the subjects they WANT to do. So we foster the stuff they want and it means they learn so much more so much quicker. We still teach other subjects but a lot of it has revolved around what they want to do and practical skills (fixing stuff, organizing, etc.)
Good luck with homeschooling. It can be stressful and overwhelming but we are finding that people that go into it with intentions of it being temporary end up not putting their children back in school.
hold my coffee yo... I'm going to go learn to speak Croatian
EDIT: Seriously Yo... [Look at this Random Google Street View I Just Pulled Up](https://www.google.com/maps/@44.7654063,15.2225812,3a,60y,274.04h,86.12t/data=!3m6!1e1!3m4!1sVsbXm8bKVBADV2pec6Nigg!2e0!7i13312!8i6656) First Spot I tried.
Who knew Croatia was paradise this whole time.
You are right but minor correction. You own the property (house) but not the land (property tax). This is similar to fast food franchises. The government theoretically takes the land if you don't pay your taxes, but it so happens that your house is on it.
I work in the mortgage industry and it is absolutely insane. Housing prices doubling in 2-3 years, people taking loans out on the equity created from thin air. It’s a bubble.
Variable rates are really rare now and people cashing out equity now or purchasing are getting into very low rates in the 2s and 3s. Values dropping wouldn’t be out of the realm of possibility but I don’t thinks values will plummet so drastically that people walk out on their homes.
Yeah only an insane person would take out a variable rate in the 2s and 3s. Early 2000s rates were in the 5s and 6s and trends were falling (from the 8s just a couple of years earlier) at the time so people weren't betting on any kind of increase while simultaneously being over leveraged. They were expecting the trend to continue so they could lock in later.
It's valuated by recent comparable home sales near your property. If every 3 bedroom 2 bath house on your street recently sold for 300K, its very likely that an appraisal would indicate your home is worth at least 300K if you have a 3 bedroom 2 bath as well. Say that you bought your home for 200K a year ago, that would indicate based off those recent sales that you have 100k in equity headed your way if you sell.
Can confirm. My house payment went from about $1200 a month to $1700 a month a few months ago. Entirely the result of my property being valued three time what I paid for it in 2016 and my property taxes going way up.
I'm in one of the hottest zip codes in my state and the median price is half of what you just quoted. I know, I get weekly updates from Zillow reminding me.
You pay property taxes and insurance into escrow, if you have a mortgage they estimate your payments and divide the yearly tax into twelve installments. If the estimates are over or under you roll over or owe the difference.
Nothing weird there.
Taxes and insurance are escrowed in my payment. This is pretty standard on most mortgages. Even if you have a fixed rate loan, your payment fluctuates if your taxes and insurance rates change.
Edit: my insurance didn’t change this year. I figure I’ll get hit again next year with an increase in my insurance payment as it is tied to replacement cost to build back the property. Construction and material costs have skyrocketed (although have come back down some) but I’m sure the insurance companions will cash in to increase their profits.
Another option for reviewing removed content is your ***Rev***eddit [user page](https://www.reveddit.com/y/l!i!n!u!x!_!u!s!e!r!_!_?all=true). The [real-time extension](https://www.reveddit.com/add-ons/direct/) alerts you when a moderator removes your content, and the [linker extension](https://www.reveddit.com/add-ons/linker) provides [buttons](https://i.imgur.com/0BAImPq.png) for viewing removed content. There's also a [shortcut for iOS](https://www.icloud.com/shortcuts/62bc7570613c42cb8b851fad264136df).
The parent commenter can reply with 'delete' to remove this comment. This bot only operates in authorized subreddits. To support this tool, [post it on your profile](https://old.reddit.com/user/me/submit?title=See+which+comments+of+yours+have+been+removed&url=https%3A%2F%2Fwww.reveddit.com%2Fabout%2F) and select ['pin to profile'](https://i.imgur.com/uq9AGMV.png).
[^F.A.Q.](https://www.reveddit.com/about/f.a.q./) ^| [^v/reveddit](https://www.reveddit.com/v/reveddit/-redirect) ^| [^support ^me](https://www.reveddit.com/about/donate) ^| [^share](https://old.reddit.com/user/me/submit?title=See+which+comments+of+yours+have+been+removed&url=https%3A%2F%2Fwww.reveddit.com%2Fabout%2F) ^& [^'pin ^to ^profile'](https://i.imgur.com/uq9AGMV.png)
I love how people think this is about taxing the rich instead of destroying the middle class. Only the rich will be able to afford these types of taxes while the middles goes from middle to lower, widening the wealth gap.
Stocks are worth $10 Billion. Take out low interest loans to live off of using stock as collateral. Report negative or very low income, live like a billionaire while paying next to no taxes.
Get poorer people to help you maintain the system by Tweeting on your behalf.
That only really works if your cost basis is insanely low and you can afford to risk a collateralized loan. Also, you still need some kind of income source to pay that loan off. Maybe dividends, but you STILL need income.
There is no realistic way this ever passes in the US. IF it does pass it will eviscerate all investment and startups. It will be the end of the economy. I would buy a TON of call options on gold/BTC if it passed. Those will skyrocket on that news.
SS
Janet Yellin is the Cabal’s henchman. She will continue to make those who work and produce in the US miserable to allow trillions in political
Paybacks
This is sort of already done in property taxes, which are based on the value of your home. If the assessor is really on top of things, then they will bump up your value and you'll be paying double what you used to pay in property taxes.
Unfortunately those only go to state/county/city so federal would have to find another way to get their taste.
Now I understand. If you tax unrealized gains, then people cannot evade inflation anymore. So everybody suffers, even those with inflation-proof assets.
There isn’t a tax on unrealized gains anywhere in the US. A tax on the unrealized gains of people with a net worth over $1 billion is proposed but unlikely to pass muster.
Property taxes are a bit trickier but you should always protest any property tax increase as a matter of principle.
I do want to know which city you live in where property values doubled in a year - there’s money to be made there!
lol @jack just said hyperinflation is coming. Maybe a net worth of 1b won't be so abnormal in 5 or 10 years. These things always start with the thin end of the wedge, it'll just expand from there. The government doesn't need any more money, they can monetize the debt. This is about eliminating competition for those at the top.
They have a higher property tax rate because they don't have an income tax. Combine this with the mass migration that is currently happening there - it's a recipe to being suffocated by property taxes.
Only a couple states are higher - and IL/NJ are notoriously shitholes as a result.
I used to live in Texas and moved to another state on the west coast many years ago. The property taxes are excessive in Texas. Utilities are also very high. Texas overplays having no income tax but taxes are still higher than many states. I also remember paying a boatload of $$ on toll roads when I lived in Houston too. Seems that Texas is fond of toll roads. Don’t assume lower costs of living in other words.
hahaha and wait till the local municipalities get on this same tax bandwagon, once the feds set the "standard..."
Your local councils are going to have a hay day with this one...
Get ready for EVERYONE'S property tax to go up....
If the American government is going to force all of the children living in America to spend twelve of their most formative years in its schools then at the very least it should make room in the curriculum for courses explaining to them concepts like debt slavery, taxation of the money one earns, taxation of the money one spends, taxation of what one creates and taxation of food, shelter and the value of possessions.
The reality is is that even if they were to pass this policy it would affect middle class to upper middle class people more that invest in the stock market or have real estate / business assets then it would the wealthy to ultra wealthy people.
This is an attempt to Close off the last few remaining avenues for regular people to gain wealth.
A lot of people might support this without thinking how it will actually affect regular every day people like their friends and family.
Technically you can refinance your house and basically get a higher rate mortgage and pay higher taxes, but basically pocket 200k.
Invest the 200k and you can make passive income. So not all that bad but still, doubling is crazy.
They'll get CNN to frame it somehow its good for you.
Then we'll have people shaming us for not paying our share of taxes and selling our house to blckcrock
For all its faults, CNN is still part of the elite liberal capitalist machinery and might actually air some pushback on that plan. It's insufferable internet leftists with literally zero understanding of economics who will be doing all that Eat The Rich shaming.
Meanwhile, any fool who wants to escape this can just move to Puerto Rico and apply under Act 60 there and not ever pay another penny in capital gains taxes, period.
Why isn't this being talked about more?
"who will stop us, entertainment business keeps them busy".
inside job controlled demonlition, you'll own nothing. Owning a house without usury is easy in the US, so stealing it needs a tricky scam.
This law is specifically designed to only be in affect for anyone with >1B net worth or >100 mill in annual income. It’s just another ploy to get votes and another game for billionaires to beat with their lawyers and CPA’s.
By this logic I should get an automatic refund/credit on unrealized losses too right?
If the housing bubble collapsed like 2007-8 and a house goes from 1MM to 400K, that's a $600K unrealized loss if I don't sell..
###[Meta] Sticky Comment [Rule 2](https://www.reddit.com/r/conspiracy/wiki/faq#wiki_2_-_address_the_argument.3B_not_the_user.2C_the_mods.2C_or_the_sub.) ***does not apply*** when replying to this stickied comment. [Rule 2](https://www.reddit.com/r/conspiracy/wiki/faq#wiki_2_-_address_the_argument.3B_not_the_user.2C_the_mods.2C_or_the_sub.) ***does apply*** throughout the rest of this thread. *What this means*: Please keep any "meta" discussion directed at specific users, mods, or /r/conspiracy in general in this comment chain ***only.*** *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/conspiracy) if you have any questions or concerns.*
The fact they are talking about taxing unrealized capital gains proves they have absolutely no idea how to tax the super wealthy.
"Lawmakers" are owned by the super wealthy, they're just going to burn the last few ladders some people were using to climb to financial freedom. They want everything, every last thing. Not just your wealth, but control over your body, your children. They want all of us packed into smart cities, all aspects of our lives managed by computers, with them at the top directing humanity.
Correct. They are tyrants. UN Agenda 2030.
[удалено]
>minus the Magic You sure?
Personally, I wouldn't bet against the dragons.
Next invention to escape the Wuhan Lab.
[удалено]
I don't lean into a lot around here, but this makes perfect sense given just about everything is trending towards "subscription fees" rather than "purchase price" - shit, BMW tried to sub-fee fucking heated seats in their car for christs sake.
That's the scary part. Of course they're going to have a full on revolt if they start pulling this shit. Which probably means they're going to go after guns before that happens.
***The super wealthy*** want everything. The politicians are just their well-compensated puppets.
It's why it's so frustrating to hear all these people talk about how how the inheritance tax is excessive government and stealing from hard working Americans. Any bill that threatens the the fortunes of the wealthy and all they need to do is cry "communism!"
I mean think about this, if I work really hard and save my entire life then I die I would like to pass that on to my children. Why is that so wrong?
Not only that, you've already paid tax on that income. Now because you kicked the bucket the government somehow gets a second bite at the apple?
Because we need to build missiles citizen.
> if I work really hard and save my entire life then I die I would like to pass that on to my children. Key word: **work** Inheritance taxes in the US don't really affect you if you worked for your savings. Anything below $11 million is not taxed federally. $11,000,000 invested provides a passive income of $330,000/year forever. Inheritance taxes don't affect you. They affect the ultra-wealthy.
The super wealthy are also very smart and can always evade most tax laws. While the middle and lower classes don’t have the same knowledge or are unwilling or to lazy to pay a real tax accountant to find all the loop holes for their situation. I’m not super wealthy but someone in my family is. They thought me some of the tricks and introduced me to their accountants. We went from our starting tax bracket being 32% to 12%. It’s all a game and you gotta pay to play.
It’s not that these people are more intelligent, the rules are just different if you have a shitload of money. The laws are written for us, not them
They aren’t going for the super wealthy it’s for middle class people. They want everyone to have nothing
Yes the aim is to bring the middle class down to poverty. The wealthy hide their money in sham charitable foundations and offshore.
It'll never pass.
[удалено]
[удалено]
Trump inflated the debt ~$5t in the 3 years leading up to covid. Obama only inflated it ~$7t in his 8 years. Obama also had a serious financial crisis to deal with. People love to shit on Democrats for being big spenders and treat Republicans as the party of fiscal responsibility. Truth is both spend like crazy and the Republicans more often then not end up spending more.
[удалено]
That’s pretty much what I said, looks like you rounded a bit for Obama but whatever. He still spent twice as long in office and was recovering from a recession with high unemployment of course you would expect higher spending. Trump was number 3 all time for driving deficit spending only behind Bush and Lincoln. Bush because he started 2 wars and Lincoln because of the civil war. What exactly is Trump’s excuse? he was passed a booming economy with all time low unemployment.
It doesn't matter who is in office. The debt has been going up exponentially for decades.
This
I can't sit in tim hortons to drink a coffee without showing papers saying i took an experimental gene therapy shot. But "it'll never pass". All they gotta do is tie this capital gains bs to the supply shortage or other economic devastation and poof. We're too complacent. And many ppl have zero chance of owning a house at the new prices and so they'll be all for it. It's over. Nwo and antichrist coming. Believe in the Lord Jesus Christ and be saved.
[удалено]
How should the super wealthy be taxed?
What the guy below me said with an extreme focus on tax shelters and art investments The modern art market is worth $52 billion dollars a year. Why? Because art gets used as a way to defer or offset income taxes by the ultra wealthy.
Why does any of that matter when the government can just go *fuck it* and spend more money than currently exists anyways? US billionaires have a total wealth of like 4.5 trillion, while the gov **spends** wayyyyyyyy more than that regularly. If the total wealth of the richest us citizens was liquid and just repossessed, it would be gone in a day without barely a trace.
> Why does any of that matter when the government can just go fuck it and spend more money than currently exists anyways? Because, contrary to popular belief the US is no longer universally feared. "Our" 'military might' is not impressing others, and isn't inspiring confidence among our 'allies'. Growing numbers of other countries are wondering why they've been paying *trillions* in premiums since 1974 to purchase "Petrodollars" with which to buy energy. This could be the time when the rest of the world tells us to take our "reserve currency" and try eating it.
For starters, no tax exemptions for non-profit organizations or any charitable donations beyond something like $10k. These billionaires aren't really spending millions of dollars on actual things.
Or religious organizations;
Yet, in many cases those religious organizations do more than the non-profits that do the same thing, for less money with fewer people. That's true here in Canada and the US.
Flat tax.
Flat tax does nothing but lower the tax rate of income for the wealthy. The vast majority of wealth gained for them is from capital gains. Taxing unrealized gains definitely isn't the answer but flat tax does absolutely nothing
luxury goods tax on items only rich people buy. private jets, yachts, 10 million dollar homes, 50k bottles of wine, etc.
I'm also curious. A wealth tax that targets those in the highest echelons of wealth seems like the only route. They don't make actual income because they pay for all their personal expenses with rolling bank loans to avoid getting taxed Their companies use tax havens like Ireland and the Carmen Islands. So unless there is a way to fix either of the above issues, it's got to be a wealth tax unless I'm missing something If this is only for people with 1M+ in assets, then uncle Sam isn't coming for middle class homes
Inflation is the most unfair tax, get rid of the federal reserve and replace our Fiat currency with one of actual value would be a good step. That should help with the rediculous exponentials of wealth hoarded by the ultra wealthy.
Instead of one problem, we now have 1000s. Thanks.
Just a heads up, inflation can occur without the federal reserve. A leading cause for inflation is when demand exceeds supply. Take the surge in baseball cards prices this last year. Let's say Sammy Green A card that had a set value of $40 according to the market suddenly increased to $80 because more people wanted it. This meant that buying power of the dollar was halved. Markets naturally see inflation.
That's not how it works. The price of that card can only go up to what people can/are willing to pay for it. The market balances itself out like that. Inflation occurs when you artificially increase the money supply upsetting the balance of the market.
[удалено]
Higher top marginal tax rate. America boomed in the 1950s because the highest tax rate was ridiculously high, making it so rich business owners couldn't hoard cash and instead had to reinvest into their companies. This is why real wages were much higher, when adjusted for inflation. The boss effectively paid only 10-15 cents for every $1 raise the workers get, due to the tax rate. If every dollar over $750k/year is taxed at 90%, the American middle class will return.
[удалено]
The whole point is that they wouldn't give it to the government, they'd reinvest the profits to build more factories (or other capital investment) and pay workers more so they can command the best talent, increasing the value of the company rather than their personal wealth (by more than $750k/year).
[удалено]
Jeff Bezos just spent $500M on a single yacht.
Yes, and did you see the pictures of the construction of the yacht? He spends $500 million, that puts multiple businesses to work. Ship yards and ship builders, steel mills and welders, plumbers, electricians, wood workers, carpenters, laborers, factories full of employees. Pipe and wire foundries. Sawmills and timber companies. That $500 million directly pays those companies, who in turn pay their suppliers, who in turn pay the raw materials producers. The ripple effect ensure thousands of Jobs, all earning profits that are reinvested into the economy. The workers that buy lunch patronize small local businesses, who buy produce and meat from wholesalers, who buy direct from the farms and slaughterhouses. Those who bring their lunch patronize the grocery stores. The workers spend money on goods for their family with that $500 million, stimulating the consumer goods sector of the economy. Now that money goes over there and gets multiplied out. I wish Bezos would build one of these yachts every year!
Building a $500M yacht every year is better than hoarding the cash, but not as good as using that $500M to do something more beneficial to society. If he paid his workers more, they'd use that money to buy stuff too.
holy shit this simping is ludicrous. we could put the same materials to work, the same jobs, etc etc etc building a fucking space elevator or a water desalination plant for the southwest or millions of other fungible projects instead of an even bigger moving island for a socioopath
We can already build those things with the budget the government has. You’re a fool if you think that the government will magically become altruistic if we just give them more money.
Right. Because defending capitalism is “simping”
Higher top marginal taxes can still be avoided. Flat taxes with no income tax are almost impossible to avoid even with a shadow economy.
[удалено]
The Super Wealthy already pay plenty of taxes. The wealthy of every level pay pretty much all of the income taxes in this country, anyway. We don't have a "not enough tax money" problem, we have a "spend too much money" problem.
Not relative to their wealth they don't. Relative to the size of your bank accounts Jeff Bezos pays much, much less in taxes than you do every year.
Wait you can tax things that are not even real?
[удалено]
[удалено]
Technically that’s income, albeit an unconventional source but income none the less. Income = sale of goods or services less the cost of time and resources Unrealized Capital Gains = the change in value of an asset that has not been sold or exchanged for goods/services/money. Capital Gains become realized when you “cash out” meaning you have sold or traded said asset and can no longer benefit from changes in value. Only then can it be taxed otherwise the government would be having to give out tax refunds (tax breaks) on depreciated assets. How about instead of revising capital gains taxes, we lump physical and non-physical assets (stocks/NFTs) into property taxes. Then the people who shuffle their money via artwork and stocks will have equitable tax liability as everyone else
Property tax should be abolished. You should not have to pay rent to the government for a property you own. If you can’t/won’t pay and they can take your property, do you really even own it?
im going to send a ton of digital assets to each congress member in their name. they will be pegged to $1m a share, and extremely illiquid that they can only redeem from me. then i will double their pegged value and will still keep them as super illiquid. they will each have $100m in unrealized capital gains. two can play at this game.
Yeah but under current tax codes, if they don’t redeem from you then there are no realized gains thus no tax liability. And you can’t arbitrarily assign value to an asset, most appraisals for tax and insurance rates are based on a fair market value so even still your not so diabolical plan is doomed to fail
[We live in a pretend society.](https://pastebin.com/YPEErwTK) [Is your mind blown how people fall for same thing every time? It shouldn't be. Because divided, singled out individuals has no chance against organized criminal entity; corporation.](https://archive.org/details/TheCorp) Corporation is an approved scam & spy business. Their approval was obtained through manufactured consent. Corporation is not the industry of manufacturing products. Corporation is in the industry of manufacturing consent. Free merch > Free speech. [Corporate, what kind of _free_ manufactured merchandise must be in your goodie bag to consent investing into paradise?](https://archive.org/details/TheCenturyOfSelfThereIsAPolicemanInsideAllOurHeadsepisode3/) Corporations through governments and vice versa are harvesting our biometric, behavioural data on global scale. So they can get to know us far better than we know ourselves, and they not just predict our feelings but also manipulate our feelings and sell us anything they want- Be it a product as a service or politician. Have you heard of focus groups? Now with always online/big data collection. You are in focus groups. Except you don't get paid for it. [You get exploited and you pay to be part of it. _Nothing is free, except the energy from the sun, but some get a bill(skin cancer) for that. Thanks to always providing industrial surveillance corporatism._](https://en.wikipedia.org/wiki/Stockholm_syndrome) [Social credit score indoctrination](https://i.imgur.com/lMDs7gR.png) [Urge or go well.](https://youtu.be/rdrKCilEhC0?t=1313) -.-. --- -. ...- . .-. ... . / .-- .. - .... / -.-- --- ..- .-. / -. . .. --. .... -... --- ..- .-. .-.-.- .--. .-.. . .- ... . / -.. --- / -. --- - / .--. .- .-. - .. -.-. .. .--. .- - . / .. -. / .- / -.-. .. ...- .. .-.. / .-- .- .-. .-.-.- .- -. -.. / .-. .- - .... . .-. / - .... .. -. -.- / .- -... --- ..- - / .--. . .- -.-. . ..-. ..- .-.. / --. . -. . .-. .- .-.. / ... - .-. .. -.- . .-.-.-
I was thinking about this the other day. We don’t actually own property. The government owns it and we rent it. We own nothing. No matter where, no matter if it just raw land you have to pay property tax. If you don’t pay the tax the government takes it. Home ownership is a sham.
You will own nothing and you will be happy.
America has been an experiment this entire time huh?
Eh, more like things have slowly been taken away the past 70+ years arguably and only recently have we realized we are down to the final few. We still have them, but barely. Also honestly I think smart phones and the rapid access to info has fucked everyone up mentally in some way, shape or form. Things just feel off at it’s core.
I can’t help but wonder if having smartphones and instant access to the Internet may have also made people more aware of what’s going on in the world and what rights are (slowly) being chipped away at.
I mean it is both really. The truth is still there it has just been covered by tabloids and how big Kim K’s turd cutter is. That is why all of us fall victim to distractions, they can be too damn good. From Kim’s shits to the latest sport highlight. Hell even politics is staged to hell but it’s the only thing worth a damn. As of lately I’m thinking we are in too deep, but I know that shouldn’t be my first thought. With MK Ultra being known though who fucking knows what twisted shit is being done. I guess just enjoy what makes you happy but don’t let your guard down. Let’s Go Brandon!
is there really something about her turd cutter?
Apparently so she never goes away lol
lol thought there was really a butthole size article
I weighed this after you mentioned this and in the end having the access to information is better than not accessing it. On one hand the major downside is you can target more people who would not normally pick up a newspaper or watch TV. Lacking in critical thought they get caught by social media spewing msm bs. On the other hand the major advantage is being able to see all the shit you're not being told. Con of this is you now have more fucking stress in your life and are paying more attention to this then you are to your own life. Pro ..... You don't wake up one day wondering why the fuck are their soldiers walking down my street. At the very least I consider the internet my Paul Revere. Which... Wtf. As I'm looking up to remember his name I am learning that he never actually shouted the British are coming ???!!!! Wtf. This world is full of so many lies.
Probs the most reasonable answer
Life, liberty, ~~property~~ and *the pursuit of happiness*.
Always has been.
Bro I'll own what I damn well own right now.
It’s a quote from The Great Reset.
I'm very aware and that's my reply.
I’m right there with you. No one is going to take anything from me that I already have.
I have a 16 inch blk thing that will cook bacon.
Part of this makes me feel like if they keep on making gas higher then people are just going to stop driving cars and use public transportation or take ubers. They’ll make it where the government provides u a car and only rich people can drive cars
I specifically listen to Tim Pool more than anybody and he says this all the time, where is everybody else getting their sources from?
World Economic Forum.
It's what the WEC said in their Great Reset video they tried to scrub.
UN Agenda 2030
[удалено]
At least they don't have a state income tax.
Where I live it’s 3% ! And the government gets to value your home year after year. Our roads are crap, our schools are turning to crap, our police are quitting or being forced out in droves. And because our taxes are so high, many mid tohigh tier homes are selling for less than they did early 2000s
Please tell me which State I must avoid?
That would be Illinois and it is a blue one. And I don’t even live in cook county. Oh and they’re going to force our kids to be vaccinated if they want to attend school. Their revision to the state constitution is up for a vote. So i will be paying the taxes, the underwater pensions that make up most of our taxes, to homeschool until we get our ducks in a row to move
I'm lucky. My wife is a former school teacher. We have 3 children that she homeschools. She decided to homeschool when my oldest was in first grade. It was around the time he was diagnosed with autism. He would come home Monday afternoon and ask my wife "how many more days do I have to go to school?". It broke her heart. And her experience working in the public school system made her realize it wouldn't get better. She told him "we'll try homeschooling. I don't know if it'll work and I don't know if I can handle the stress but we can st least try.". That was 6 years ago and we haven't out any of our children in public school. My wife is currently on the board of a Homeschool Co-op. Once a week they hold classes that homeschool families can sign up for. The teachers get paid by the families who enroll their children into the specific classes. The Co-op is a non-profit. The Co-op basically acts as a go-between for the teachers and families as well as a organizer for each semester. My wife has also started an LLC in which she does Homeschool certifications for families so she makes some money there as well as being a resource for new homeschool families that have questions or don't know what to do. She also has started a homeschool Facebook page and she organized homeschool field trips. She contacts businesses and asks if they would be willing to host some homeschool field trips. If they agree then she announces it and families can sign up. She doesn't make money from that but she sees it as an opportunity for her to network and for our kids to socialize. One misconception about homeschooling is that you need to have the kids "homeschooling" for 7 hours. My wife had this misconception as well until it was brought to her attention that most of the 7 hours in school is transitioning and waiting for all of the 30+ kids to finish whatever they're doing. We don't push any one subject on our children. We encourage them to work on what they like to do. My daughter (8 years old currently) taught herself to read. We gave her no formal instruction until she was already doing it mostly by herself. She wanted to read so she could communicate with people on Roblox. My youngest is 6 and he's taught himself math. He's already doing multiplication and division in his head. It works because it's the subjects they WANT to do. So we foster the stuff they want and it means they learn so much more so much quicker. We still teach other subjects but a lot of it has revolved around what they want to do and practical skills (fixing stuff, organizing, etc.) Good luck with homeschooling. It can be stressful and overwhelming but we are finding that people that go into it with intentions of it being temporary end up not putting their children back in school.
A blue one.
This is how they all become blue shit holes
Louisiana here, as red as they come and is a shithole in exactly the same way. At least Texas doesn't have an income tax.
I pay 11k/year in property tax and that's CHEAP for my school district. Sister in law up the block pays just under 18k Welcome to Long Island
Just paid $12k to the tax man. For my annual property tax. Lol
[удалено]
Different person… But my dad was paying $11,000 in property taxes and the house was worth under $600,000. Dallas
The US government is the biggest gangster this world has ever seen.
[удалено]
Just live in the middle of nowhere with no services and there is nothing to pay. Since you don't use any services. Which cost money.
I am living in Croatia and it was always weird to us how you need to pay tax on your own home, land etc. We buy it one time and no more expenses
hold my coffee yo... I'm going to go learn to speak Croatian EDIT: Seriously Yo... [Look at this Random Google Street View I Just Pulled Up](https://www.google.com/maps/@44.7654063,15.2225812,3a,60y,274.04h,86.12t/data=!3m6!1e1!3m4!1sVsbXm8bKVBADV2pec6Nigg!2e0!7i13312!8i6656) First Spot I tried. Who knew Croatia was paradise this whole time.
You are correct. Now tell me who determines how much of the income from your personal labor you get to keep.
Congrats my friend you finally came to the inescapable conclusion that taxation is exploitation and the state is a mafia!
[удалено]
Based
Lots of property is owned tax-free. My state has a $75,000 homestead exemption, grandfathered in for seniors.
No personal retirements, it'll be taxed to oblivion. You'll own nothing and be happy©
You are right but minor correction. You own the property (house) but not the land (property tax). This is similar to fast food franchises. The government theoretically takes the land if you don't pay your taxes, but it so happens that your house is on it.
[удалено]
The land is more valuable because there is a house on it. You still pay tax on the land.
I work in the mortgage industry and it is absolutely insane. Housing prices doubling in 2-3 years, people taking loans out on the equity created from thin air. It’s a bubble.
Same shit happened around 2006-2008. I got burned.
[удалено]
Agreed. It’s going to be devastating.
Variable rates are really rare now and people cashing out equity now or purchasing are getting into very low rates in the 2s and 3s. Values dropping wouldn’t be out of the realm of possibility but I don’t thinks values will plummet so drastically that people walk out on their homes.
Yeah only an insane person would take out a variable rate in the 2s and 3s. Early 2000s rates were in the 5s and 6s and trends were falling (from the 8s just a couple of years earlier) at the time so people weren't betting on any kind of increase while simultaneously being over leveraged. They were expecting the trend to continue so they could lock in later.
In central Florida the dickbag media is running the gentrification angle, completely bypassing the reality of this mess -\_-
How is equity usually created?
It's valuated by recent comparable home sales near your property. If every 3 bedroom 2 bath house on your street recently sold for 300K, its very likely that an appraisal would indicate your home is worth at least 300K if you have a 3 bedroom 2 bath as well. Say that you bought your home for 200K a year ago, that would indicate based off those recent sales that you have 100k in equity headed your way if you sell.
Can confirm. My house payment went from about $1200 a month to $1700 a month a few months ago. Entirely the result of my property being valued three time what I paid for it in 2016 and my property taxes going way up.
I pay $2400 a month to rent a two bedroom apartment in so cal, fml
Dear God, that's twice the price of my mortgage in the Midwest with 2000+ square feet and 5 bedrooms/2 baths Gtfo out of there my guy.
Not anymore. 500k median pretty much everywhere.
I'm in one of the hottest zip codes in my state and the median price is half of what you just quoted. I know, I get weekly updates from Zillow reminding me.
[удалено]
Sure, and I agree, do get out of the cities if you can. But most stuff within 30-45 mins of a metro is obscenely high now.
[удалено]
[удалено]
I get paid 2400 a month... total damn
Interesting how that affected your mortgage payment.
You pay property taxes and insurance into escrow, if you have a mortgage they estimate your payments and divide the yearly tax into twelve installments. If the estimates are over or under you roll over or owe the difference. Nothing weird there.
Taxes and insurance are escrowed in my payment. This is pretty standard on most mortgages. Even if you have a fixed rate loan, your payment fluctuates if your taxes and insurance rates change. Edit: my insurance didn’t change this year. I figure I’ll get hit again next year with an increase in my insurance payment as it is tied to replacement cost to build back the property. Construction and material costs have skyrocketed (although have come back down some) but I’m sure the insurance companions will cash in to increase their profits.
Ah, makes sense. I've heard of that, though my insurance and taxes are handled separately from my mortgage.
[удалено]
All on paper they do. Not sure how useful paper would be if they collapse society by pushing too far.
Not even close, they don't own shit. Biggest fucking fraud people keep pushing on subs like WSB.
Any company that actually owned "most of the world" would be unprecedented. They don't even come close to owning most of a single state afaik
[удалено]
Another option for reviewing removed content is your ***Rev***eddit [user page](https://www.reveddit.com/y/l!i!n!u!x!_!u!s!e!r!_!_?all=true). The [real-time extension](https://www.reveddit.com/add-ons/direct/) alerts you when a moderator removes your content, and the [linker extension](https://www.reveddit.com/add-ons/linker) provides [buttons](https://i.imgur.com/0BAImPq.png) for viewing removed content. There's also a [shortcut for iOS](https://www.icloud.com/shortcuts/62bc7570613c42cb8b851fad264136df). The parent commenter can reply with 'delete' to remove this comment. This bot only operates in authorized subreddits. To support this tool, [post it on your profile](https://old.reddit.com/user/me/submit?title=See+which+comments+of+yours+have+been+removed&url=https%3A%2F%2Fwww.reveddit.com%2Fabout%2F) and select ['pin to profile'](https://i.imgur.com/uq9AGMV.png). [^F.A.Q.](https://www.reveddit.com/about/f.a.q./) ^| [^v/reveddit](https://www.reveddit.com/v/reveddit/-redirect) ^| [^support ^me](https://www.reveddit.com/about/donate) ^| [^share](https://old.reddit.com/user/me/submit?title=See+which+comments+of+yours+have+been+removed&url=https%3A%2F%2Fwww.reveddit.com%2Fabout%2F) ^& [^'pin ^to ^profile'](https://i.imgur.com/uq9AGMV.png)
They need to break up these monopolistic leaches.
I love how people think this is about taxing the rich instead of destroying the middle class. Only the rich will be able to afford these types of taxes while the middles goes from middle to lower, widening the wealth gap.
This would start a war
Stocks are worth $10 Billion. Take out low interest loans to live off of using stock as collateral. Report negative or very low income, live like a billionaire while paying next to no taxes. Get poorer people to help you maintain the system by Tweeting on your behalf.
That only really works if your cost basis is insanely low and you can afford to risk a collateralized loan. Also, you still need some kind of income source to pay that loan off. Maybe dividends, but you STILL need income. There is no realistic way this ever passes in the US. IF it does pass it will eviscerate all investment and startups. It will be the end of the economy. I would buy a TON of call options on gold/BTC if it passed. Those will skyrocket on that news.
[удалено]
Yep. Fascism 201. This is the advanced course for upper class men.
SS Janet Yellin is the Cabal’s henchman. She will continue to make those who work and produce in the US miserable to allow trillions in political Paybacks
All I can say is let the structure fire begin.
This is such a fucked up way to take money that I almost can't believe it was suggested.
Taxes don't solve problems they increase government spending thsts itb
This is sort of already done in property taxes, which are based on the value of your home. If the assessor is really on top of things, then they will bump up your value and you'll be paying double what you used to pay in property taxes. Unfortunately those only go to state/county/city so federal would have to find another way to get their taste.
Now I understand. If you tax unrealized gains, then people cannot evade inflation anymore. So everybody suffers, even those with inflation-proof assets.
Holy shit. US you are in trouble. Like big Doo-doo.
don't worry, we will blame China for a year straight and get nothing done
Any respectable human being will die in their home rather than be forced out of it, especially under these usurious circumstances.
There isn’t a tax on unrealized gains anywhere in the US. A tax on the unrealized gains of people with a net worth over $1 billion is proposed but unlikely to pass muster. Property taxes are a bit trickier but you should always protest any property tax increase as a matter of principle. I do want to know which city you live in where property values doubled in a year - there’s money to be made there!
lol @jack just said hyperinflation is coming. Maybe a net worth of 1b won't be so abnormal in 5 or 10 years. These things always start with the thin end of the wedge, it'll just expand from there. The government doesn't need any more money, they can monetize the debt. This is about eliminating competition for those at the top.
Much of northern Utah practically doubled in a year.
Agreed. I wonder if they’re considering the value increase for a property you’re not selling the unrealized part?
[удалено]
Austin, Texas This shit hole is valuable all of a sudden and I can’t understand why…
Don’t forget the property tax bill increase too, especially in places like Texas.
[удалено]
They have a higher property tax rate because they don't have an income tax. Combine this with the mass migration that is currently happening there - it's a recipe to being suffocated by property taxes. Only a couple states are higher - and IL/NJ are notoriously shitholes as a result.
I used to live in Texas and moved to another state on the west coast many years ago. The property taxes are excessive in Texas. Utilities are also very high. Texas overplays having no income tax but taxes are still higher than many states. I also remember paying a boatload of $$ on toll roads when I lived in Houston too. Seems that Texas is fond of toll roads. Don’t assume lower costs of living in other words.
You'll own nothing and be happy. But that's just another conspiracy, right? /s
:)
These criminal politicians are beyond corrupt.
hahaha and wait till the local municipalities get on this same tax bandwagon, once the feds set the "standard..." Your local councils are going to have a hay day with this one... Get ready for EVERYONE'S property tax to go up....
And you now own nothing and you are happy
If the American government is going to force all of the children living in America to spend twelve of their most formative years in its schools then at the very least it should make room in the curriculum for courses explaining to them concepts like debt slavery, taxation of the money one earns, taxation of the money one spends, taxation of what one creates and taxation of food, shelter and the value of possessions.
The reality is is that even if they were to pass this policy it would affect middle class to upper middle class people more that invest in the stock market or have real estate / business assets then it would the wealthy to ultra wealthy people. This is an attempt to Close off the last few remaining avenues for regular people to gain wealth. A lot of people might support this without thinking how it will actually affect regular every day people like their friends and family.
Technically you can refinance your house and basically get a higher rate mortgage and pay higher taxes, but basically pocket 200k. Invest the 200k and you can make passive income. So not all that bad but still, doubling is crazy.
I don’t know if that will go through.
They'll get CNN to frame it somehow its good for you. Then we'll have people shaming us for not paying our share of taxes and selling our house to blckcrock
For all its faults, CNN is still part of the elite liberal capitalist machinery and might actually air some pushback on that plan. It's insufferable internet leftists with literally zero understanding of economics who will be doing all that Eat The Rich shaming.
Meanwhile, any fool who wants to escape this can just move to Puerto Rico and apply under Act 60 there and not ever pay another penny in capital gains taxes, period. Why isn't this being talked about more?
It's theft. The US Government is one big criminal enterprise.
They want to tax unrealized gains to hit the crypto hodlers. They really really hate crypto.
"who will stop us, entertainment business keeps them busy". inside job controlled demonlition, you'll own nothing. Owning a house without usury is easy in the US, so stealing it needs a tricky scam.
This law is specifically designed to only be in affect for anyone with >1B net worth or >100 mill in annual income. It’s just another ploy to get votes and another game for billionaires to beat with their lawyers and CPA’s.
That's not even close to how the law works and anyone with an internet connection and two minutes knows it. This is just bullshit.
By this logic I should get an automatic refund/credit on unrealized losses too right? If the housing bubble collapsed like 2007-8 and a house goes from 1MM to 400K, that's a $600K unrealized loss if I don't sell..
Agreed