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re: Now Bank Bailouts - What is Next
Posted on 3/14/23 at 9:20 am to Tomatocantender
Posted on 3/14/23 at 9:20 am to Tomatocantender
quote:
Unrealized capital gains tax on immovable assets. Your house goes up say $30,000 on paper without you selling it, they still want you to add that $30k to your 1040. I always thought this was a laughable idea, no way it could happen, but after the last 2 years I'm not so sure anymore. If Jotato or Kamala wins in '24, all bets are off with these types of socialist and draconian regulations and 180k new IRS field agents.
We already have it in the form of property taxes imo the most insidious tax in existence. It’s so bad that the federal government is actually jealous of the power of local jurisdictions to pull of this swindle..
1
Posted on 3/14/23 at 9:23 am to midnight orange
quote:
We already have it in the form of property taxes imo the most insidious tax in existence.
Yes, but most states I'm assuming (Louisiana I know for sure) at least gives you a homestead exemption on primary residence. These unrealized paper gains taxes, if the Dems get their way, will make parish/county property taxes look like child's play/small fries by comparison.
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