With what ? A quarter of all the men still around have rainbow flag sitting outside of their house … so they’re out. another quarter of those men are struggling to feed their families and all the rest of them are too busy playing video games so please let me know besides you and I, who the hell is gonna fight the government
the fiscal year starts october first , taxation of unrealized capital gains means the widow has to sell the home to pay the tax which is 42.5% currently is 15%
Unrealized Capita; Gains Tax hasn't been approved, yet. If the current administration see's another 4 years, they will make a push for it, for sure. I also believe you are referring to the Capital Gains Tax? It's currently at 19% and some change. If the current admin gets re-elected, it will change to 44.7% by 2025. If it passes. Thanks for the comment!
Because they're all debt sl@ves... I'm not. Debt free homeowner, my old a$$ vehicles are paid for, I work full time in sales and have 3 side businesses.
@@TheHaughtyOsprey Congratulations! Unfortunately, the majority of American's are not in your position. The art of saving and owning is rapidly going the way side. Especially with the hardcore increase in Inflation we saw over the last 3+ years, and unmatched wage growth.
We should only pay income tax. I worked my butt off to pay for my home. The government didn’t contribute, but they think they have a right to tax my gains. It’s time to push legislation through to exempt owners of single-family homes from capital gains. It was bought to live in. I should be able to take every penny gained and flee California for a better-suited state to retire in. It’s the venture capitalist who is buying up homes to rent. That’s a business purpose. The venture capitalists should pay taxes on the profits they realize. It’s the single-family owner who should be exempted. Maybe we should just dismantle the IRS.
Yes, it is! One big giant political mess. At least the BRICS Nations recently got their @#$ handed to them by the US Dollar. So, I'm not so worried about a loss of the Reserve Currency anymore. Gonna be a decade or more before that happens 😁. There are some positive things happening, however, if we see another 4 years of what we currently have, it's gonna be a DISASTER at home.
@@escapegrl1 Actually, from my understanding... the Trump Tax cuts will expire by then (2025), hence the change. If we have another 4 years of Biden (or probably Newsom...since yesterdays fall-a-part perfomrance by Biden), then 3 things I can say for sure is: 1.) Federal Tax will rise. 2.) Captial Gain Tax will rise. 3.) They'll attempt to incorporate the Unrealized Capital Gains Tax. No matter how it's sliced, front-end taxes are gonna get stupid (federal, capital, etc.), as if the back-end taxes (inflation) are not already enough. We're all going to GO BROKE if we see another 4 years. Thanks for the comment!
Yea we need laws to stop allowing investments in single family homes. Yea this will hurt those existing investors, but pass a law and give them 5 years to liquidate 50 percent and another 5 years for the other 50 percent.
Why? ...Would this be directed to everyday American's? Or big companies like BlackRock, Vanguard, etc.? Real Estate is a great hendge against inflation. It's highly beneficial to American's looking to diversify their portfolios. For huge companies like BlackRock that have no limitiations on ownership (yet), and buy properties through shell corps... then yes. When they are the 3rd largest GDP in the world, that scary. They can do a LOT of damage when iot comes to homeownership PERIOD, in the US.
This is so true! And that was all over a "2%" tax on tea. The taxes we have today are deplorable. Yet, the American people put up with it. We shall see. Thanks for the comment!
@@MikePetrasMPRE That is the problem with unrealized gains. Only the market can determine value, and condition plays a big role. if someone in an office tells me what this place is worth, they would be way off.
@@scottmorris7546 Agreed! That's is a big problem. County assessors (their appraisers) wouldn't know of other conditions that could affect value. Totally on the same page. Thanks for the comments!
Even worse is the impact on the stock market. That's where the most catastrophic impact will be seen. Mass stock sell off to pay the tax will crash the market. As this is predictable, two things will happen. Some people are going to make a fortune on short options. And the vast majority of 401K funds will lose a huge percentage of value. Congress will respond not by repeal the insanity. They will move to nationalize all retirement funds.
Just another reason for businesses to use machines and computers rather than have human workers. It's all a downward spiral to the third-world... unless you're a big bankster, politician or international corporation. Watch, those wealthy enough will migrate to nations offering a better deal to entice them to leave.
It's the Democrat way. Call for "taxing the rich" and then define rich as anyone who isn't on welfare or food stamps. I paid $1000 an acre for land back in 1986 and now, it's worth 12x that on paper. I can't sell it, because it's my home and farm. It is high time for congress to tell the Fed. that we will from now on, only pay principal and no longer pay massive interest when it is congress who has the authority to coin our money and determine its worth.
I agree. But unfortunately, just paying principles will never happen. Banks (or shall I say... the FFR) gouges the living daylights out of people who take out loans. But that's their point. Keep the sheep-le in debt, and they keep working. It also drives our fiat economy. Inflation and debt. It's the American way. Thanks for the comment!
@@bradleyreed8876 Placing a basis off from Moore vs. the US (foreign earnings) to unrealized capital gains tax was wierd (SCOTUS). Ill give you that. However, I can absolutely blame the Dems. California, Hawaii, etc., tried back in 2023 and earlier. With no success. And now Joe Biden wants to re-introduce it. I can't recall Republican administrations wanting to introduce an unrealized capital gains tax. They know it would be detrimental to Americans (well, maybe not all...there are always RINOs). I hope you watched the video, because, just like every other tax EVER introduced that said it was to target the rich....didn't. And the rich just generally found a way around it, anyways. Why? Cause their rich. Instead, it filtered down to those that dont have the means to fight it. So, unless we want this to become a reality... the current administration needs to go. Plain and simple. Unless of course, we DON'T like homeonwership, investments/retirement. No tax that goes after the rich ever results in a socalistic trickle down.
Not yet. Except for the elderly and their retirements (close enough). But that's another discussion. If the current administration gets re-elected, they are going to push for it. That's the point of this video. An awareness of whats to come. BTW, SCOTUS didn't find a problem with the Unrealized Gains Tax recently. Passed 7-2. Please Google it. Thanks for the comment!
This is the way the Ultra Rich shelter their fortunes from taxes. When a person dies, the capital gains on that real estate aren't realized. Your slippery slope argument comes across as obtuse to me. You're clearly not rich, or you'd be smarter than that. This won't effect you.
I guess I don't understand the direction you're going with your comment. If a home is "sold", even after someone dies... say by a trustee, inheritance, or probate. Then yes, it is taxed. It becomes realized at that point, for a capital gains tax. If the property is placed into a trust, it depends on the terms of the trust in order for it to be sold. Nope. I ain't rich. But if you think the implementation of an unrealized capital gains tax will stay at $100m per household... then...again... I have the deed to the Golden Gate Bridge to sell to you. The rich will either fight or flight with their money. They ALWAYS do. Who does that leave then? The middle and lower classes... who can't afford to do either. Easy pickens for the Govt.. If you think the Govt. wouldn't exploit those that can't do the same as the rich, then who's being obtuse? Please read up on the Federal Income Tax implementation in 1913, and where it stands today. It's a prime example of just that. However, instead of reading up, I've done it for you. I do invite you to watch the whole video. Enjoy!
Counties already do this via property taxes on appraised home values. Who sets the appraised values - the government...
In technical terms. You're right. They do. This is a federal way of doing it and at a much more "hardcore" level. Thanks for the comment!
Hadn't though about it that way but you are right!
Property tax is confiscation of home appreciation.
Sort of. Won't be anything like unrealized capital gains tax.
Does that mean you get monthly checks from the government if your home value drops?
Oh heck no. Lol
No because they have to pay for lucrative pensions for their own, most family and friends because of nepotism and cronyism.
@@rogerbec5766 Yep! Got that right.
@todddunn945 Presumable. Key words. To a tax that's not in implemented yet. Lol
This is the threshold where we must respond the way our founders would
Could be shaping up that way. War is a terrible thing. However, if history has shown us anything... when you squeeze the people....🤷
With what ? A quarter of all the men still around have rainbow flag sitting outside of their house … so they’re out. another quarter of those men are struggling to feed their families and all the rest of them are too busy playing video games so please let me know besides you and I, who the hell is gonna fight the government
Unrealized lottery winnings are next…..
Haha!
Talk about taxation without representation. I feel the need to go dump some tea into the ocean.
Right?!
People use investing as a hedge against inflation. That will not be the case in the future. Inflation will gobble up everything.
True.
Only one way out of this shitstorm ..vote for Trump
Yep! Poor fella has a long road to cover though...after Biden
Try to borrow the amount the goverment says your house is worth😮
???
the fiscal year starts october first , taxation of unrealized capital gains means the widow has to sell the home to pay the tax which is 42.5% currently is 15%
Unrealized Capita; Gains Tax hasn't been approved, yet. If the current administration see's another 4 years, they will make a push for it, for sure.
I also believe you are referring to the Capital Gains Tax? It's currently at 19% and some change. If the current admin gets re-elected, it will change to 44.7% by 2025. If it passes.
Thanks for the comment!
Why dont all people say you aint getting any money unless you deal a better hand.
That's the million dollar question, right there.
Thanks for the comment!!
Because they're all debt sl@ves... I'm not. Debt free homeowner, my old a$$ vehicles are paid for, I work full time in sales and have 3 side businesses.
@@TheHaughtyOsprey Congratulations! Unfortunately, the majority of American's are not in your position. The art of saving and owning is rapidly going the way side. Especially with the hardcore increase in Inflation we saw over the last 3+ years, and unmatched wage growth.
We should only pay income tax. I worked my butt off to pay for my home. The government didn’t contribute, but they think they have a right to tax my gains. It’s time to push legislation through to exempt owners of single-family homes from capital gains. It was bought to live in. I should be able to take every penny gained and flee California for a better-suited state to retire in. It’s the venture capitalist who is buying up homes to rent. That’s a business purpose. The venture capitalists should pay taxes on the profits they realize. It’s the single-family owner who should be exempted.
Maybe we should just dismantle the IRS.
Can't disagree.
How about no taxes. Then we see what governmental goods and services people actually want fund.
Sounds good to me!
It's a Madhouse, a Madhouse!!!
Yes, it is! One big giant political mess. At least the BRICS Nations recently got their @#$ handed to them by the US Dollar. So, I'm not so worried about a loss of the Reserve Currency anymore. Gonna be a decade or more before that happens 😁. There are some positive things happening, however, if we see another 4 years of what we currently have, it's gonna be a DISASTER at home.
That doesn’t even include Biden letting the Trump tax cuts expire!
@@escapegrl1 Actually, from my understanding... the Trump Tax cuts will expire by then (2025), hence the change. If we have another 4 years of Biden (or probably Newsom...since yesterdays fall-a-part perfomrance by Biden), then 3 things I can say for sure is: 1.) Federal Tax will rise. 2.) Captial Gain Tax will rise. 3.) They'll attempt to incorporate the Unrealized Capital Gains Tax. No matter how it's sliced, front-end taxes are gonna get stupid (federal, capital, etc.), as if the back-end taxes (inflation) are not already enough. We're all going to GO BROKE if we see another 4 years.
Thanks for the comment!
We're not paying it
Well. Really, if we vote against the insanity, we won't have to go there. Hopefully.
Yea we need laws to stop allowing investments in single family homes. Yea this will hurt those existing investors, but pass a law and give them 5 years to liquidate 50 percent and another 5 years for the other 50 percent.
Why? ...Would this be directed to everyday American's? Or big companies like BlackRock, Vanguard, etc.?
Real Estate is a great hendge against inflation. It's highly beneficial to American's looking to diversify their portfolios. For huge companies like BlackRock that have no limitiations on ownership (yet), and buy properties through shell corps... then yes. When they are the 3rd largest GDP in the world, that scary. They can do a LOT of damage when iot comes to homeownership PERIOD, in the US.
Remember what our founders did over taxation without representation? If you don't pay attention to history it will repeat itself.
This is so true! And that was all over a "2%" tax on tea. The taxes we have today are deplorable. Yet, the American people put up with it. We shall see.
Thanks for the comment!
Ppl are to comfortable to get off the porch.
@@tompilling4154 Perhaps.
Taxation WITH representation isn't so friggin' great, either. Look closely at Congress and you'll see exactly why it isn't.
They will collect more money under the guise of paying down the interest and use it for other spending
Of course they will. Guaranteed or your money back... well, maybe no money back. Lol!
My house will not pass a termite inspection. An appraisal will not reflect a sale price if it would sell at all. Only on paper has it appreciated.
,
Haha! Don't think that's gonna work. 🤣
@@MikePetrasMPRE That is the problem with unrealized gains. Only the market can determine value,
and condition plays a big role. if someone in an office tells me what this place is worth, they would be way off.
@@scottmorris7546 Agreed! That's is a big problem. County assessors (their appraisers) wouldn't know of other conditions that could affect value. Totally on the same page.
Thanks for the comments!
What happens with unrealized losses? Hmmm...
Nothing. I've read it's on gains or losses. We'll see. But when has the Govt. ever let a tax go to waste? They don't...
Our Founding Fathers went to war over a tax on a breakfast beverage. We are pathetic... lesser children of greater sires.
You're not wrong.
What tax bracket is bezos?
0%. Lol
Even worse is the impact on the stock market. That's where the most catastrophic impact will be seen.
Mass stock sell off to pay the tax will crash the market. As this is predictable, two things will happen. Some people are going to make a fortune on short options. And the vast majority of 401K funds will lose a huge percentage of value.
Congress will respond not by repeal the insanity. They will move to nationalize all retirement funds.
Totally agreed 👍
Just another reason for businesses to use machines and computers rather than have human workers. It's all a downward spiral to the third-world... unless you're a big bankster, politician or international corporation.
Watch, those wealthy enough will migrate to nations offering a better deal to entice them to leave.
It's the Democrat way. Call for "taxing the rich" and then define rich as anyone who isn't on welfare or food stamps.
I paid $1000 an acre for land back in 1986 and now, it's worth 12x that on paper. I can't sell it, because it's my home and farm.
It is high time for congress to tell the Fed. that we will from now on, only pay principal and no longer pay massive interest when it is congress who has the authority to coin our money and determine its worth.
I agree. But unfortunately, just paying principles will never happen. Banks (or shall I say... the FFR) gouges the living daylights out of people who take out loans. But that's their point. Keep the sheep-le in debt, and they keep working. It also drives our fiat economy. Inflation and debt. It's the American way.
Thanks for the comment!
It was the Trump Supreme Court that said it was legal this month. Don't blame the Dems.
@@bradleyreed8876 Placing a basis off from Moore vs. the US (foreign earnings) to unrealized capital gains tax was wierd (SCOTUS). Ill give you that. However, I can absolutely blame the Dems. California, Hawaii, etc., tried back in 2023 and earlier. With no success. And now Joe Biden wants to re-introduce it. I can't recall Republican administrations wanting to introduce an unrealized capital gains tax. They know it would be detrimental to Americans (well, maybe not all...there are always RINOs).
I hope you watched the video, because, just like every other tax EVER introduced that said it was to target the rich....didn't. And the rich just generally found a way around it, anyways. Why? Cause their rich. Instead, it filtered down to those that dont have the means to fight it. So, unless we want this to become a reality... the current administration needs to go. Plain and simple. Unless of course, we DON'T like homeonwership, investments/retirement. No tax that goes after the rich ever results in a socalistic trickle down.
Yet people still vote for insane taxation and then complain! Stop voting in favor of levies, schools, etc!
This is true.
Not mentioned: the doubling of the Capital Gains Tax.
I mentioned it. Towards the end of the video.
Thanks for the comment!
You get......what YOU ALLOW. Simple actually.
Yep! This is why we need a change of leadership.
How about the country actually spends less?😂
Mentioned that. It will NEVER happen. Unless we return to a Gold Standard. That would change the ballgame.
There is no unrealized gains tax...
Not yet. Except for the elderly and their retirements (close enough). But that's another discussion. If the current administration gets re-elected, they are going to push for it. That's the point of this video. An awareness of whats to come. BTW, SCOTUS didn't find a problem with the Unrealized Gains Tax recently. Passed 7-2. Please Google it.
Thanks for the comment!
Put Democrats in charge of government and every day is Halloween.
Yep
I wish I wouldn’t have watched this
It's not implemented yet, but if we get 4 more years of the same... it's coming.
This is the way the Ultra Rich shelter their fortunes from taxes. When a person dies, the capital gains on that real estate aren't realized.
Your slippery slope argument comes across as obtuse to me. You're clearly not rich, or you'd be smarter than that. This won't effect you.
I guess I don't understand the direction you're going with your comment. If a home is "sold", even after someone dies... say by a trustee, inheritance, or probate. Then yes, it is taxed. It becomes realized at that point, for a capital gains tax. If the property is placed into a trust, it depends on the terms of the trust in order for it to be sold.
Nope. I ain't rich. But if you think the implementation of an unrealized capital gains tax will stay at $100m per household... then...again... I have the deed to the Golden Gate Bridge to sell to you.
The rich will either fight or flight with their money. They ALWAYS do. Who does that leave then? The middle and lower classes... who can't afford to do either. Easy pickens for the Govt.. If you think the Govt. wouldn't exploit those that can't do the same as the rich, then who's being obtuse? Please read up on the Federal Income Tax implementation in 1913, and where it stands today. It's a prime example of just that.
However, instead of reading up, I've done it for you. I do invite you to watch the whole video. Enjoy!