Joe Biden Thinks He Can Tax Gains in the Value of Your House When You Have Not Yet Sold It

[texassapper]

Joe Biden Thinks He Can Tax Gains in the Value of Your House When You Have Not Yet Sold It.

Only a liberal could think of something so stupid. The government MUST be reigned in before they destroy the fabric of the nation further.

[txdot-guy]

Originally Posted by texassapper

Joe Biden Thinks He Can Tax Gains in the Value of Your House When You Have Not Yet Sold It.

Only a liberal could think of something so stupid. The government MUST be reigned in before they destroy the fabric of the nation further.

First of all Biden has never proposed a plan to tax your home value. That’s much more likely to happen via state property. Secondly, The supreme court apparently thinks so too. However it’s not very likely to happen. Wealth taxes might be coming however.

[SpeedRacerXXX]

Originally Posted by txdot-guy

First of all Biden has never proposed a plan to tax your home value. That’s much more likely to happen via state property. Secondly, The supreme court apparently thinks so too. However it’s not very likely to happen. Wealth taxes might be coming however.

"Under the new proposal, households with net wealth over $100 million would be required to pay a minimum effective tax rate of 20 percent on an expanded measure of income that includes unrealized capital gains. "

I only wish I was impacted by Biden's new proposal.

[ICU 812]

What if you have a matress full of vintage hundred-dollar bills? Will you get a tax credit for the loss in value of our money?

[Why_Yes_I_Do]

Traditionally, Capital gains are understood to mean:

Capital gains are the profits you get when you sell an asset. Capital gains can be subject to either short-term tax rates or long-term tax rates, depending on how long you owned the asset.

Having said that, let's be honest - Joe ain't doing shit - well except for in public, in front of G7 ministers, when he pops-a-squat right in front of them. I would expect some ding-batty loony minion got a bit in front of their skis reaching for more of other peoples money - especially people that have an actual clue, drive and skills enough to make decent coin, unlike their DEI selves.

[Why_Yes_I_Do]

Originally Posted by ICU 812

What if you have a matress full of vintage hundred-dollar bills? Will you get a tax credit for the loss in value of our money?

I think the smart, if not totally fun, play would be to march into a local bank and demand exchange of them to the Silver that was promised on the promissory notes. Be sure to live stream the adventure. It would likely go viral.