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The Stealth Wealth Tax

lewisnotmiller

Grand Hat
Staff member
Premium Member
Currently, unrealized capital gains are non-taxable.

The Internal Revenue Service website probably has more information than you'd likely want to know about capital gain taxes on the sale of property.

Publication 544 (2020), Sales and Other Dispositions of Assets
For use in preparing 2020 Returns

Publication 544 (2020), Sales and Other Dispositions of Assets | Internal Revenue Service

Property (Basis, Sale of Home, etc.) 5 | Internal Revenue Service

Sincerely, appreciate the information but I'm only barely interested enough in my own countries tax laws in this area to understand them.
I'm willing to invest 5 minutes into learning American laws...lol
 

Guitar's Cry

Disciple of Pan
This attitude is why Democrats are doing this.
It isn't at all about what is reasonable tax policy,
just exploiting common hatred of this group.

I can agree that tax policies need more justification than "people are okay with taxing the rich." But there's a very good reason people are okay with taxing the very rich.

They have lots of money. Well beyond what they require even to live comfortably. If money is to be had to promote the general welfare, better to get it from the very rich.

I do agree it shouldn't be through backdoor means (if that's the case) but I struggle to sympathize with their plight when I've been a hardworking citizen contributing to my community but had to save up to splurge on a pizza with more than one topping.
 

Suave

Simulated character
Sincerely, appreciate the information but I'm only barely interested enough in my own countries tax laws in this area to understand them.
I'm willing to invest 5 minutes into learning American laws...lol

I'm curious to know more about a value-added-tax system, we don't have that now in the states. I'd like a 10 percent V.A.T., less monthly rebates to individuals reimbursing each person for value added taxes he/she 'd pay on spending up to poverty-level spending; I'd favor revenue from this V.A.T. system being used to significantly fund universal health insurance. Are Australians overall happy with their universal health care and are Australians overall happy with value-added-taxes as being a source of funding for government programs?
 
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Revoltingest

Pragmatic Libertarian
Premium Member
I can agree that tax policies need more justification than "people are okay with taxing the rich." But there's a very good reason people are okay with taxing the very rich.

They have lots of money. Well beyond what they require even to live comfortably. If money is to be had to promote the general welfare, better to get it from the very rich.

I do agree it shouldn't be through backdoor means (if that's the case) but I struggle to sympathize with their plight when I've been a hardworking citizen contributing to my community but had to save up to splurge on a pizza with more than one topping.
I'm not arguing for sympathy.
But taxation shouldn't violate the Constitution (even if
the justices can rationalize violating it). And it ought
to be reasonable. And not based on hatred or envy.
 

Guitar's Cry

Disciple of Pan
I'm not arguing for sympathy.
But taxation shouldn't violate the Constitution (even if
the justices can rationalize violating it). And it ought
to be reasonable. And not based on hatred or envy.

I don't disagree. My expensive wine quip was to poke fun at your wording that made the ultra rich seem like a group deserving sympathy. I may have misunderstood, though.
 

Revoltingest

Pragmatic Libertarian
Premium Member
I don't disagree. My expensive wine quip was to poke fun at your wording that made the ultra rich seem like a group deserving sympathy. I may have misunderstood, though.
I've no sympathy for them.
I just like good tax policy.
And our current laws also attack us lowly non-rich schlubs.
 
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