There’s a reason why you’ll never truly own your home. It is called the property tax. It is a yearly tax – paid forever – based on what the taxers say your home is worth this year, irrespective of what you paid for it when you thought you bought it.
You may have paid $250,000 for it many years ago. Maybe because that’s all you could afford to pay when you thought you bought it. Fast-forward ten years and the taxers say it is now worth $500,000 and “assess” the tax you are required to pay on the basis of that figure. Your “gains” are $250k – and now you “owe.”
Never mind that no actual increase in your worth – and so your ability to pay – has occurred, because you’re living in rather than selling the house.
These ever-upticking taxes on what you may like to think of as your home (which of course it’s not; if you are obliged to pay money in order to be allowed to occupy it you are paying rent) serve the dual purpose of preventing you from ever truly owning your home and eventually forcing you out of your home.
Via the ever-increasing rent-styled-property-taxes the “owner” will eventually no longer be able to pay.
This happens routinely, especially to older people who aren’t able to work full time any longer, who bought their house years ago when they thought they could afford to live in it. They were able to – at the time – based on the income they had and the taxes as they were. But when their income is no longer sufficient to pay property taxes that have doubled over time, they are obliged to sell.
Put more bluntly – more honestly – they are forced out of what they considered to be their home.
Now imagine the effect of a federal property tax on top of that. This is what is coming if the Leftists – there are no Democrats anymore, except for RFK, Jr. and he’s now a Republican – have their way with what’s left of this country.
The Leftists – who are in fact communists, just not yet willing to call themselves that openly – do not call it that, of course. They use semantic sleight-of-hand instead, styling their proposal to evict working and middle class families from the homes they are allowed to pretend they own an “unrealized capital gains” tax.
And – of course – it will only be paid by “the rich.”
Just like the communists – who called themselves “progressives” at the time – promised the working and middle class a century ago, when they trotted out the tax on income.
Only “millionaires” would pay!
And that is how the sold the working and middle tax into slavery. The old saying about how it’s impossible to cheat an honest man comes to mind. The working and middle class idiots of a century ago allowed their envy and vindictiveness to get the better of their judgment. And now working and middle class everyone gets to pay for that each April 15.
It looks like the same is about to happen again.
Playing on the envy and vindictiveness of the useful idiots of all classes, the communists say that billionaires – inflation and all – will be the only ones who pay the unrealized capital gains tax. They and “big corporations.” Easy to hate them, too.
And even easier to exploit that hate.
So, what will happen is the same that happened before – when the income tax became law. At first, only “the rich” did pay. But – having established in law the principle as well as the precedent that taxing anyone’s income was lawful (that is to say, constitutional) it didn’t take long before everyone was paying income taxes. Except, of course, the very rich – who can afford ways to get around such things. But who profit from such things in that income taxes provide the government with the funds to spend on things very rich people like to spend other people’s money on, such as “defense” as a for-instance. There is a lot of money to be made in that business, if you’re rich enough to own a “defense” contractor (or a piece of one).
Anyhow, if it is passed into law, what will happen – inevitably – is that working and middle class people will be federally taxed on the increased value of the homes they like to think they own. This increased value will be regarded as income – unrealized gains – and that will be subject to the tax. It will amount to a second income tax – and it will take more income to pay this tax. Those who cannot afford to pay the tax will be forced out of their homes.
Voila!
Perhaps these former home-owners (or so they liked to think) will be allowed to live in a government-owned apartment, with the owner having, of course, the owner’s prerogative of eviction.
As it was in the old Soviet Union – where no one entertained the illusion that they owned anything.
. . .
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For all parasites – including humanoid parasites like Harris/Walz (Walz is an obvious psychopath) “Socialists” – More is never enough.
Again…Only the greatest fools “work for a living” under socialism.
Inflation another hidden tax on the slaves….unbacked fiat money printing….no gold standard…
The slaves in 1916 were better off financially then the 2024 slaves….
A Look At Income And Taxation Relative To Gold
Consider what has happened in income and taxation against the yardstick of gold.
Gold was valued at a fixed exchange rate of $20.67/oz in 1916. The average annual income was roughly $600. A single household earner was able to produce that income.
In other words, a typical husband earned 30 ounces of gold per year.
The income tax, which was sold to voters as a very modest tax on wealthy households, applied only to incomes over $3,000.00 at a rate of 1%. People who earned more than the equivalent of 150 ounces of gold per year paid 1% of income in excess of that amount….below that…zero tax….
Had incomes kept up with gold, those 30 ozs per year would translate to roughly $75,000 in today’s dollars with gold at $2,500/oz. Unfortunately, they have not kept up. …..and…these 30 ounces of gold per year workers paid no income tax…. People who earned more than the equivalent of 150 ounces of gold per year paid 1% of income in excess of that amount.
The average salary today is roughly $60,000 or 24 ounces, i.e. 20% below what it was all those decades ago.
2024 slaves make less and pay huge taxes on top of that….
The sad reality is that anyone with even a small adjusted gross income must pay, and the income tax rates begin at 10%. Those considered wealthy as defined in 1913 pay at least 35%.
And don’t forget that 43 U.S. states have their own income taxes also, compounding the burden…..plus the slaves now pay many other taxes too…..
It now takes two earners in most households to produce the gold equivalent income that a single earner achieved in 1913. The picture gets dramatically worse after accounting for what has happened to income taxes.
https://www.zerohedge.com/commodities/look-income-and-taxation-relative-gold
DemocRATS=Socialist=Communist=Jews…
Like Henry Ford said….just say JEWS!!!
And there the source of problems will be!!!
Don’t forget a 15% social security tax, a 25% investment tax, a more than 15% spending tax (sales tax plus fuel tax, and any multiple taxations on the same products(cars, duty fees…etc.)), and an average 5% rent tax. The middle class would be lucky to leave with 50%. All for what?…a bunch of bureaucrats demanding more money.
“The working and middle class idiots of a century ago allowed their envy and vindictiveness to get the better of their judgment.”
Exactly! Envy is the root of tyranny.
Forgot to mention laziness as well.
The 25% unrealized capital gains taxer….
Kamala Harris had one job – don’t blow your first sit-down interview with the press. No word salad. No ‘unburdened by what has been’ mantra. Don’t cackle to cover up for a lack of brain cells.
She couldn’t even do that…
Sitting down with running mate Tim Walz for a pre-taped CNN interview set to air at 9 PM Thursday, a preview clip reveals she’s still an absolute moron.
from ZH comments….
She flunked the bar exam. Willie appointed her to first job. The rest of the jobs she ever had she had handed to her on a silver platter because she is a women and identifies as black. She didn’t even make it to Iowa in 2020. Finished behind Dementia Boy, the Cherokee, BUTTA, etc… She didn’t have to win a Dem primary in 2024, she got installed. She has never really had to compete for any job based on MERIT only in her life. Career gov’t employee too, never earned a private sector paycheck in her life. MORON.
Women will vote for her just because she’s a woman.
Blacks will vote for her just because she’s a “black”…..but isn’t really…
Indians will vote for her just because she’s an Indian.
Hebephrenics will vote for her just because she’s a Hebephrenic.
NOTE….Career gov’t employee too, never earned a private sector paycheck in her life….that is a huge red flag…..
https://www.zerohedge.com/political/you-had-one-job-kamala-blows-pre-taped-interview-walz-right-next-her
Well, that is what happens when you sleep your way to the top. For some like Heel’s Up Harris, it may have gotten her to where she is today, but she sure as hell cannot do anything else now that she is at the top. All she can clearly talk about is gun control and abortion. That is all she has on the brain-what bit she uses. Hell, even Hillary Clinton could give a decent speech, even if she was a murder, and had as many women in the White House for her as there was for Bill. As for those who will vote for her “….because she is….”, well, being a voter did not include IQ tests or having any sense, or even having to know what in the hell is going on. Just pick your poison on the ballot provided, and take the rest of the country down with you when you screw up. Oh, and then blame everyone else when you (liberals) do.
Hi Shadow,
I think it’s a mistake to dismiss Harris as stupid. Lazy, intellectually shallow – absolutely. But she has the vicious, feral cunning of a rabid hyena. Do not turn your back on such a creature.
Oh no, “never underestimate your opponent”. This woman is down right dangerous. And we are in a heap of trouble if she is elected, or if she is just plain installed as “President”.
Even though likely she’s past the age of the “monthly bill”, a simple rule is STILL applicable…BEWARE the creature that bleeds for FIVE DAYS and still LIVES.
Jesus Christ, Doug. How men and women ever got together and were able to function successfully over the last 200,000 years blows my mind. We are at a point in life where it may be best just to handout a custom robot to appease each other.
Hi RG,
It’s true. So many exhausted people (me among them). I understand why so may take to alcohol or some other palliative.
I am sorry to hear that, Eric.
Personally, I just don’t understand what is going on around me. I have many clients that after 20+ years of marriage are throwing in the towel. I see my nieces, nephews, and even own children, have zero interest in dating, marrying, or having children. I see men and women constantly putting each other down. It is freaking depressing. I don’t understand why nobody likes each other anymore and won’t work together.
Hi RG,
I understand why people – people like us, to be blunt – aren’t getting married and having children. Not all, of course – but probably more than ever. There is every incentive not to. The system works against you. It makes your life harder. It makes it easier for the system to screw with you.
Hi Eric,
I am going to respectfully disagree because with people like us the system shouldn’t matter.
Our thinking is outside the confines of the system so how it operates, regulates, or perpetuates should be insignificant to us.
The system should never be a place of solace.
All anyone is doing is facilitating our own decline that much quicker.
I’m close to telling my grandson (16 in a week)
“Just hire it done”
Shame it’s come to this. Love ya Raider Girl but you didn’t grow up and then live in the Puget Sound area- it’s a nightmare here for reasonably normal guys. At the major aerospace co. here in WA I had many coworkers arrive from other states. Within a couple weeks the single guys: “What’s with the women around here, so cold and judgemental”. “Welcome to the Seattle freeze buddy!” Problem is it’s infested Eastern WA now.
The lost features, appreciation of each other for good companionship, commitment to a stable home life, faithful to each other especially thru the rough patches financial and health.
Hi Sparkey,
There is no doubt I am naïve when it comes to the dating scene, multiple relationships, etc., but a generation ago this was the norm. One got married out of high school/college and you stayed married. There was no playing the field, sowing oats, jumping form person to person. Maybe ignorance is truly bliss.
So what changed? I realize many people point the finger at feminism, but the women in my family (and outside of my family) have worked away from the home going back to my grandmothers. We all remained married throughout though.
Something has gone off the rails and I can only blame internet platforms. I went through school over the last 25-40 years and it was even rare back then to have a classmate parents get a divorce…having a baby out of wedlock…no way. It wasn’t done. True, I grew up in a bright red county in Virginia, so maybe that played a part.
I don’t see how anything other than social media could impact an entire generation’s view of marriage and companionship. We think the worst of each other and this appeases the government, because it does make us easier to control. If we are terrified of the institution of marriage or creating a partnership then the government has already won. They don’t need to kill us…the declining birth rate is doing it for them. They should be down to 500 million in no time.
It is sad, because all I observe in the coming generations are lies, deceit, and disrespect between the sexes. I see flashbacks of Lenina Huxley and John Spartan having sex through AI headgear in Demolition Man. Ugh! The new normal closer than we think.
You have to admit, it is somewhat of a minor miracle, losing up to a pint of ones blood and carrying on.
Blood and seed are the basis of everything. Its a biological imperative that goes against the owners plans.
Her level of stupid is just what they are looking for in a puppet. They kill (or try to kill) presidents who think for themselves.
She was only just “street smart” enough to get into a position (doggy style?) of power. After that, she has no clue what to do.
I agree, Anon –
There is a cohort – a not small one – that favors outright communism, even if they don’t want to call it that. These useful idiots – who are also malicious, envious, entitled, emotionally incontinent losers – do not understand that what they want government to take from others will also be taken from them. That the end result will be general misery and general poverty that no one will be allowed to escape.
The “Free Shit Brigade” can’t plan beyond a few days, at most, hence why if they can vote, they vote for what’s going to be handed to them on the proverbial silver platter.
Yup –
And that’s why we’re rushing toward communism. It’s easy to promise parasites and children Free Stuff. It’s harder to tell such people that – no – you’re not getting something for nothing and – no – you don’t have a “right” to a “free” education or health care or a house, etc.
You are correct. In my many decades on this mortal coil, I have talked to many advocates of communism who declared that “communism would work, if properly implemented.” They seem to think that previous versions of communism didn’t work just because it was not properly implemented.
As I have said before, those advocating for Communism have never had to suffer under it. So really, before any of them make bigger fools of themselves, they really should move to a Communist nation first if they are in love with it so much, or just sit down and shut up already. The reason why it failed, is because that is what it was designed to do. It does not work, it never will, and it will eventually destroy itself from within. Communism destroys the middle class, the productive, the wealthy, takes away land ownership, and leave only the one percent at the top controlling the other ninety-nine. Everyone is disarmed, starving, helpless, freezing, and distrustful of everyone around them, because the divide-and-conquer strategy works so well. Parents are fearful of their children who might turn them in, spouses fearful of each other-only to find out years later they were on the same side and did not know it. I find it simply mind boggling that once-free, USA is all-too willing to exchange freedom and capitalism for chains and slavery. WTF does not even begin to describe it. But trying to educate fools like AOC and others who think that because THEY are trying it, it will somehow work “…this time around”, is akin to shouting at a deaf person, and hoping they will hear you. When really, even if they could, they still would not listen.
Hi Shadow,
The youth have been seduced by Marxists. The youth (not all, but in general) grew up affluent and became entitled. They (not all, again, but the point is generally valid, I think) assume there is “plenty” of food and housing and all the rest; it’s just that capitalism causes these “resources” to be hoarded by the few. Throw in some emotional incontinence.
Now, of course, their parents (not all, but many) also bought into the basis tenets of the faith. They want the government to provide this – and do that. For “the schools.” For “defense.” There is always something – and it is almost never: Leave people be. Stop using the ballot to make others pay for what you want. Mind your own business. Live – and let live.
A “mixed economy” – as a partially socialist economy is often styled – always becomes a communist one.
don’t blow your first sit-down interview with the press……She couldn’t even do that…
The problem is forcing her to communicate like a normal civilized person…that is not her natural way….
Her staff know….screaming, yelling and swearing…is the normal….anger….
Get her angry…reveal what is really in there….
Possessed by an anger demon?…..is there such a thing?….
https://www.youtube.com/watch?v=aEKa2a7bsNk
In normal valuations, a home can be valued at 100 times the monthly rent. $1500 per month rent = $150,000 home value. Currently homes are 3-5x that, way overvalued – also from inflation and depreciating currency – everyone wants to be a real estate investor to beat inflation.
One of the big reasons homes are way overvalues, besides the bubble mania effect, is because the Fed lowered interest rates to zero – for many years – making borrowing near free. What is happening now is a rise in rates, and I predict that when 30 year fixed mortgage surges through 8% the shit will really hit the fan. In the last year, 3x the listings have hit Zillow – but prices have not dropped significantly. We are currently in 2006 still have to get to 2009.
I can remember in 2008-9 during the California real estate crash, the court clerk of Sacramento was selling brand new homes on the court house steps for $25-35k. Whole subdivision were auctioned off 90% below the former high price.
The most egregious tax is inflation, as it destroys your savings and your hard earned labor. It also makes real things go up in price, while your wages stagnate – thus making your poorer unless you happen to be that real estate investor. Inflation is a huge invisible of transfer of wealth from the savers to the debtors.
Real estate agents and banks are very stupid people – as they sell/fund these overvalued homes. The buyer has to borrow $500,000 for a typical small house out west. Most of the current crop of children entering the market, can not afford that, so they live in their parent’s basement while they slave at McWages.
Wojak buys a house
https://www.youtube.com/watch?v=t0iZi5WnoE0
In Oregon the Governess Tiny Kotex is giving the down payment free via a grant to illegal immigrants, who also get $2200 a month in food stamps. Citizens get zilch, just the tax bill. It is a total screwjob and treason, yet the Left in Oregon keeps winning elections.
Wojak buys income property at the top
https://www.youtube.com/watch?v=JsR80Wv6A0w
Good trick…
Engineer a bubble in real estate and stocks….then bring in an unrealized capital gains tax….steal more from the slaves…
How do you pay this tax?…..get a heloc, 2nd mortgage or a 3rd job….
Another consequence of this that is unseen is that people will purposefully allow their homes to get dilapidated to keep the value as low as possible. The roof won’t get replaced or the walls will not get repainted for example. Leftists never
think. The ends always justifies the means in their tyrannical minds.
That, and/or needed maintenance gets deferred because all the money goes to taxes instead, so the place slowly falls apart.
Yes, very true. Yet another unseen consequence of more statist intervention.
Something else that is absolutely insane in addition to a call for a federal property tax is states that are giving “migrants” thousands of dollars as a down payment on a home. CITIZENS in those states aren’t eligible, but their state will FORCE them to give money to illegals as a down payment. If we get a Harris-Walz regime, we could see something similar to that on STEROIDS.
And who does not see what will come after that, John? Those selling homes….seeing that illegals are getting thousands of dollars “free” for a down payment, will immediately jack up the selling price of their home to match the “free money” the illegal is getting, so as to get more. The illegal will be too damned stupid to know he is getting fleeced, because he already is fleecing the rest of us and does not care. That, in turn, causing the price of homes all-around to increase.
If people who sell their homes jack up the selling price because of all the thousands of dollars states are handing out to illegals to buy a home, they might be called RACIST by their governor. Governments that are handing out taxpayer money to illegals but not citizens to buy a home are showing they care MORE about illegals than their own citizens, veterans, homeless people, etc.
Brandon already told the banks to give mortgages to these migrants…if they don’t pay….it doesn’t matter….it would be racist to ask for payment….
White slaves in a tent on the street….migrants given 4 star hotel rooms…the great replacement……the new slaves replacing the old slaves….
‘Ukrainian lawmaker Maryana Bezuglaya said, “According to my information, the F-16 of Ukrainian pilot Alexey ‘Moonfish’ Mes was shot down by a Patriot anti-aircraft missile due to lack of coordination between military units.”
Your tax dollars on fire — playing both offense and defense. General Dynamics and Raytheon expressed special thanks to the venal dwarves of Clowngress who funded this macabre fireworks show. PLAY AGAIN? (Y/N)
In Lahaina on Maui increases in home valuation and property taxes caused many retirees that bought their ocean front homes for like 100-200K in the 40s and 50s to sell and move as they couldn’t afford the property taxes when they became multi million dollar properties. Lahaina folks faced a whole ‘nother disaster and now face the after effects with the insurance companies not paying out or not paying out enough and said insurance companies suing the electric company. My opinion is that the 4 billion dollar settlement from the electric company, the county and the state doesn’t come close to making things whole. On this point I agree with the insurance companies.
[…] Guest Post by Eric Peters […]
As a rule,
Every time they say they’re going after “The Rich,”
They’re coming after YOU.
Every. Single. Time.
“The Rich” will be fine. You, on the other hand, will be screwed. As usual.
And the usual suspects will continue advocating for this until someone does everyone a favor and launches them out of office and into the ocean with a cannon. And within 24h of that event, someone else will be getting onto their soapbox and advocating the same. Over and over and over again. It never ends.
You got it. They lie about taxes, capitol gains and “unrealized capitol gains”. Just away to steal your property and investment income away from you.
Right…. the Wealth Tax Won’t Be Just For Billionaires… It Will Be For You and Me as Well
congresswoman Alexandria Ocasio-Cortez (D-NY) will be the public figure in charge of selling the American people on a “wealth tax.”
President George W. Bush sold America on the Patriot Act.
President Barack Obama sold America on Obamacare.
Alexandria Ocasio-Cortez will be selling America on wealth taxes and other cash grabs.
The ideas of wealth taxes have been floating around the radical left for years. Both former Presidential candidates Bernie Sanders and Elizabeth Warren pushed for wealth taxes during their campaigns.
Neither candidate made it to the finish line for the 2020 election, so the left has turned to Alexandria Ocasio-Cortez to pick up the narrative. And just like Warren and Sanders, she’s focusing on the super wealthy, so Americans will “sign off” on the idea.
This same story played out with both the Patriot Act and Obamacare. The political elite always sell the American people on aggressive policies by presenting the policies in the least offensive manner possible.
After all, who could be against the government spying on people if it is designed to just target terrorists?
And who can be against taxing billionaires and multimillionaires of their net wealth?
Except that’s not the plan at all.
The IMF has already shown us the plan… which is a 10% tax on NET WEALTH for everyone….now they are talking about a 25% unrealized capital gains tax….
The reasoning?
To shore up sovereign balance sheets (reduce debt levels). And believe it or not, some of this plan has already been signed into law.
Did you know that in 2011, the US passed legislation that would allow regulators to:
1) Freeze bank accounts and use them to “bail-in” financial institutions/ banks.
2) Close the “gates” on investment funds/ money market funds to stop you from getting your money out.
3) Impose wealth taxes and seize unused assets….2nd, 3rd or 4th house?…..
If you think that’s bad, consider that the Fed plans to both seize and STEAL savings during the next crisis/ recession.
canadian government and others have passed legislation for bailins, freezing and taking money from your bank accounts to help out in a crisis. we are very close now. the great reset says you will own nothing and be happier. this is all part of the wef reset.
If you think this sounds like a “conspiracy theory” we’ve actually uncovered a secret document outlining exactly how the elites plan to do this. It was written by a man who has served as an advisor to THREE separate central banks.
There is a Bonus Army out there right now, a hundred thousand veterans are living on the streets.
Less than 22 percent of the privately held gold made it back to the US Treasury, most of the double-eagles were still in banks.
The double-eagles ended up in Europe somehow. Americans who held gold coins avoided prosecution by sending them to banks in Europe, so the story goes.
Hoover was not happy when the Bonus Army was routed.
Get zee gold.
Germans who were holding precious metal coins were not so devastated after the Allies smoked Deutschland.
And who were the officers in charge of REGULAR ARMY troops that, in 1932, routed the “Bonus Army” veterans who’d served “Over There” (France, in WWI) while they were playing at Momma’s feet? Do names like Douglas MacArthur, Dwight David Eisenhower, and George S Patton ring a bell?
At some point, the assessed property tax on my house will be so high, that in order to pay it, I will have to rob some government worker in order to offset the thievery. Sounds like a good plan to me. Robbing a government parasite produces no moral qualms. Then, me and GovCo can call it square.
Seriously, if the choice is to become homeless or become a clever outlaw, I know which way I’m leaning.
Property taxes are the most evil form of theft dreamed up by govco, at least with an income tax it depends on your having income. We bought our house for $33k in 1974, I think the interest rate was 7% on a 25 year mortgage and the monthly payment was $350, which included property taxes. Fifty years later, as in now, our house is supposedly worth $1.2 million and our taxes are about $13k/year, three times what the entire PI&T payment was back in the day. So as to the point of this article, we will never “own” what is styled as our house. I am fortunate to have a decent pension and savings but the pension stops when I die, so my wife will be forced out when the savings (401k/IRA) runs out. There have been rumors about Fedgov trying to steal our savings as well; hope I am still around if that happens because I’m still strong enough to swing an axe, per Solzhenitsyn’s advice, at the first person who darkens my door.
unrealized gains on un-purchased assets.
A local town just passed an ordinance establishing an “ad valorem” tax, which is just a fancy name for property taxes. So now the poor people will be paying a city property tax as well as the county property tax.
Watch “The Grapes of Wrath” movie or buy the book. Stars Henry Fonda.
It is a splendid view of the time period and how Americans treated other Americans. It’s an eye opener for sure of what it’s like when things go south. You’re likely better off with today’s propaganda view.
Who are these crazy people? I don’t mean the crooked politocos and the beurorats; I mean the people who vote them in.
At this point vote only for people that will cut spending. Sadly all the believers in free sh*t will keep voting for free sh*t as it doesn’t cost them anything, or so they believe.
Hi Landru,
They’re not crazy. They’re moochers and parasites; the Free Shit Army. They think they’ll get “free” stuff. They are too goddamned stupid to understand there’s a price to be paid for that.
Never mind stupid, Eric, and yes, some of them are hopeless so. But some of them are so insanely jealous that someone else has what they do not, that such people demand that what we have worked hard for be stolen from us. For if they cannot have something (God forbid they have to work for it, as well), then no one should be “allowed” to have anything, either, whether it be property, homes, cars, money, etc. It is a case of selfish, arrogant people who never advanced past the age of two, and are still throwing temper tantrums. Only instead of throwing a fit to their parents, they throw the fit to the Federal Government (or state/local), who is more than willing to give said immature brat what they want, knowing that in the end, everyone (except the Feds) will be punished and left with nothing.
You nailed it. IMO they are like animals attracted to the bait in a trap. They are too stupid (the people, not the animals, as animals cannot reason as we do) to realize that there is an ulterior motive in the offering of “free” food. But that sad thing with these stupid people is they trap not just themselves (as an animal might) but they trap all of the rest of us. A mouse that gets caught in a trap doesn’t likewise doom the rest of its kind, but stupid voters will doom all of us.
“ Who are these crazy people? I don’t mean the crooked politocos and the beurorats; I mean the people who vote them in “
Oh I have a fine example, my father-in-law (R.I.P.). Not crazy, but clearly brainwashed.
As property in Seattle kept increasing $$$ and people (him included) kept voting the benevolent D candidates his property tax went thru the roof in the ‘80s. Week one, election approaching “I ALWAYS vote Democrat, they’re for the little guy!” Literally week two, just days later, he opens his property tax statement “I’m getting taxed out of my own home!” I couldn’t help myself – “Well, you voted for it”. His response “Huh?” He never made the connection, amazing.
My next half of my State Rent is due in late October, I’ll pony up about $2500 when as recent as 4 years ago that was about the whole year amount. Good times.
Deficit spending causes inflation, which drives up house prices, which drives up property tax. Double-win. This could speed up government growth tremendously.
Where I live in CA, property values are simply nuts. The tiny house I bought in 2013 has tripled in value. At today’s value, my property tax would be more than $50k/year. CA limits property tax increases so I pay like $20k, but still, it’s a shocking amount to pay just so that armed thugs don’t come here and take the house that I live in.
Hi OL,
I’m staggered. How can anyone afford to pay $20k a year in property tax? That is after paying income taxes. On top of paying your mortgage – and food. I’d be on the streets. Which is, of course, exactly what they want.
Insanity ?
There are places where it’s that high not in CA.
Several years back I looked up my grandma’s old house (sold off something like 30 years ago for a place in Florida) and it would have been something like $30k. It’s undoubtedly much higher now.
It’s in one of the best school systems in the country.
Basically the people who live there are going to either a) pay the G-D- taxes, or b) live somewhere else and pay tuition at a prep school.
These are not exactly average Americans.
I pay the property tax because right now, I’m in my peak earning years in a career that’s centered around here, however, I see the writing on the wall, because people in their 50’s are viewed as has-beens in tech, so I don’t have too many working years left before people consider me too old.
I’ve been really trying to convince my wife to leave this place. I’m mentally done here, she’s still attached. CA is a beautiful place that functions despite its politicians, and we really make use of the amazing nature here.
California has a kick-ass set of mountains, no doubt. Mount Shasta is bigger than big.
The east side of the mountain slopes feel like you are in America’s mainland.
Yup, totally. You get over the hills and it’s blue collar, Trump country.
I have a cabin up in those mountains. The people up there are basically from a different planet than those in the bay area. It’s a huge state, that’s mostly red politically, with two major blue islands which have a voting majority.
There are lots of pretty places in the world.
‘Deficit spending causes inflation, which drives up house prices.’ — OppositeLock
So do schemes like AB1840:
‘Assembly Bill 1840, which now goes to Gov. Gavin Newsom’s desk, would allow undocumented immigrants to apply alongside other qualified applicants for the California Dream for All Shared Appreciation Loans program. The program offers no-interest loans of up to $150,000 to cover down payments and fees.’ — LA Times
Econ 101: pump more government funding into an asset class, and prices … GO UP! DUH! Making affordability even worse than before.
Ultimately house prices, as a multiple of household incomes, are constrained by affordability. Beanstalks don’t grow to the sky. SoCal house prices suffered through a 7-year dead period in the 1990s (I had to listen to Angelenos’ piteous whines while posted to a project in Asia). Then they cratered again in the 2006-2010 crash. Chart:
https://journal.firsttuesday.us/wp-content/uploads/LA-Home-Prices-May-2023.png
Overblown house prices are about due for another good smack … as are the shaky finances of Commiefornia, which will be crushed when capital gains tax revenues stop cold in the next bear market.
Commiefornia has many things making housing unaffordable. The program you mention is on the books, but it has no money, so in practice, it’s not actually doing anything.
We have very successful industries in this state, which make lots of people rich. We have idiotic policies which pretty much prevent any new housing from being built. We have loads of immigration, both legal and illegal. What this means is that the population is growing, the housing supply isn’t, so the rich people bid up the price of housing and leave the less rich to figure out something else – usually, an obnoxiously long commute. I work in tech, and the younger folks, who haven’t gotten their foot into the real estate door years ago, commute 2 hours each way, in some cases. It’s awful.
I’ve gone to city council meetings where the council is deciding whether to allow some apartment or condo complex to be built, always to voice support. I’m usually the only one, and the rest are retired, landed gentry who argue against it, because more housing won’t make their property values go up as much. If this is what the idiot populace wants – banning others from building on property they own, then there’s no hope for this place.
This mentality, that your neighbors should influence what you can do with your property, is pervasive here, and it’s not limited to Democrats. People are busybodies.
To be honest, we should have already voted with our feet and wallets. Although crossing the rio grande heading south, pockets stuffed with Gold and Silver Onzas, muck boots loaded down with 100 oz JM bars might be tough for all but the strongest of swimmers. The spaniards learned that the hard way.
The country is on the edge of a Bolshevik takeover. It matters not which clown is put in charge. They will need to turn over every couch cushion and shake every pocket until empty. People who have any sense should be diversifying out of dollars as fast as possible without drawing the ire of Central Scrutinizer. PMs, crypto, 308, 223, 7.62×39. the list of tangible things as a hedge are almost limitless. Anything will be better than having all ones wealth denominated in dollars. I’m no financial planner, and its just an opinion, but diversification is the only way one comes through this with something left intact. TPTB intend to steal everything. Owning 95% of the world just wasn’t enough for them, they now demand it all.
The way it might work is if AOC or some other soppy leftist is the face of it. ‘Its a one time thing,’ she will bray. ‘Fairness and compassion demand it.’ The shills on the TeeVee will crow along in rapt approval, some fake polls will be commissioned, and viola, all the cool kids will be pushing for it. May even be sold as a way to get back from all the rich boomers who have, according to narrative, benefited their entire lives from easy living ($$$) and will now be required to give some back. There will be some magic bill already written, sitting in a drawer somewhere, 500+ pages long. We will be told its an existential crisis that demands immediate action. ‘No time to read and debate the thing,’ a vote in the peoples house will be held tomorrow. The sorry assed Rs will go along, because, TANKS In the STREETS.
If a national assessment tax does come to pass, the ‘One time thing,’ will be how its done. After all, GovCo just needs one more chance. All the good works it Does, all the compassionate efforts to help the world. Only a bitter clinger bent by a strong selfish streak would be against that. As soon as Congress passed such measures, expect an immediate follow on bill which levies 75-80% exit tax on anyone wanting to leave the new improved workers paradise. This will not fix the problem. Its math, and the amount required can never be repaid. I’m afraid any of us still here after Nov 6th, might be here for the duration.
Must dig out old books by Rubino, Cook, and Turk. Full faith and credit shows how it could happen. Although Atlas Shrugged lays it out pretty well also. The take away as always, If you don’t physically hold it, you don’t own it.
I would just add that it might also be useful to dig out and even share digitally some of the books from the late, lamented Paladin Press.
Absolutely. I’m thinking of, making Bazookas and Flame throwers from spare parts in your garage and medicine cabinet. Or, hunting fifth columnists for fun and profit.
“Although crossing the rio grande heading south, pockets stuffed with Gold and Silver Onzas, muck boots loaded down with 100 oz JM bars might be tough for all but the strongest of swimmers.”
There is $500,000.00 to $1 million watches….you might be able to get on a plane with it on your wrist…….
Believe it or not, I’ve never worn a watch my entire life. I think the only way to avoid capitol controls is a cold wallet with crypto. Unless, you already set up banking outside the US. Still risky as lots of countries in our hemisphere will probably side with Uncle.
I like MoneyMetals for their handcrafted Platinum and gold rings, bracelets, and pendants. Its jewelry as close to melt value as I’ve found. IMO, Platinum has a higher % upside than AU or AG.
The super rich…members of the slave owning control group, keep their money in offshore accounts. precious metals, crypto, real estate, collector cars and watches, artwork, etc….plus through blackrock they own 85% of the SP500…..
30 MOST EXPENSIVE WATCHES IN THE WORLD
#1. Graff Diamonds Hallucination | $55 Million
https://www.thetrendspotter.net/expensive-watches/
I had an opportunity to get in on colored diamonds 20 years ago. Really regret missing that bull market. That hallucination watch would look nice on my wife. Just imagine owning one of those on that list, and the conditions under which you’d be forced to sell. That would run ya. You’d probably take at least a 95% haircut.
Not only is home “ownership” in danger, look out for your pensions and 401k plans. The Feds will be looking for ways to “shore up” social security sooner or later. They will probably propose a plan (scheme) to confiscate people’s private plans to shore up the world’s largest ponzi scheme. If the communist party pulls out a total sweep this November, all bets are off. You can kiss your wealth, health and safety goodbye!
I told my one old timer co-worker who has since retired, to use some of her retirement funds to buy what she needs to, to survive the upcoming, SHTF. Over the years, I have warned her that if the dollar does not collapse, the Feds will simply seize her 401-K, and she will (one way or the other) be left with nothing. Thankfully, she is taking my advice, as she is more awake than most. I would love to own a home, but why be a perpetual renter to the state or county (or borough) even after I pay for it? If that is how it is, then the state should be forced to pay for the maintenance on said property and home, seeing is how we are all renters, and are never true owners. But yes, one figure I had read (a while back) estimated that there was around $20 million dollars in retirement funds and 401K’s around the nation. You can sure as hell bet the greedy Feds are going to find a way to steal all that, and give everyone the middle finger when one has the audacity to be pissed off about it.
Remember the abolition of private property is a major part of the commie manifesto. So it should come as no surprise that the leftist moonbats want to tax your home into oblivion.
I have a 24-year-old house and a 24-year-old truck. The truck has appropriately depreciated to the point where KBB claims it’s worth about $5000. According to my local government (who’s mayor is a corrupt real estate developer), my home has increased in value significantly, hence, the tax burden is higher.
That’s the thing –what something is “worth” is purely subjective. My hit-n-miss engines are worth money because I assign value to them. Otherwise, it’s just the scrap value of cast iron. The truck is “worth” less because it has 380,000 miles on it. The home is “worth” more because we’ve been urban sprawled into Huntsville.
Oh, I got a letter a while back from USAA saying my homeowners insurance was increasing. They had to gall to start the missive by saying “To better serve you”. I’ve never filed a homeowners insurance claim in 24 years of “owning” this house.
USAA is one of the worst companies i have ever dealt with. Even for an insurance comapny they are pretty poor. Back 30 years ago, they were okay, but that stopped for me in 1999.
Dude, TELL ME ABOUT IT! Last year, my home insurance increased like 22% over 2022; this year, it was 38% higher! I was like WTF? I’ve never made a claim, and I’ve always paid on time. I saw my agent, and with his help raising the deductible, the increase went down to 17%, but still.
Yeah, thinking about, “our” state and “local” governments have been doing a tax on unrealized gains for decades in terms of the property tax. Since you haven’t sold your property, you are paying on “assessed value.” Fortunatley, this has to go through the United States Congress or it will be challenged by the country’s owners like Blackrock. Unless they get some sort of exemption.
Expect chaos and destruction if this is implemented. Remember who had the Biden 2020 bumper stickers and yard sign.
Now that you mention it, those Biden 2020 bumper stickers are REALLY rare. It’s amazing that he actually got 81 million votes!
Kaka Mala 24 bumper stickers are also damned rare. Havent seen any of them or yard signs. Not sure why, the polls say she’s great!
Homes are almost always bought on margin. Interest rates have a major impact on a home’s value, at least during normal times (now seems to be an exception other than there are new buyers with deep deep pockets -aka “suckers” buying everything that’s up for sale). One of the indicators that the fed still hasn’t raised interest rates high enough is that there are still buyers at these ridiculous valuations. If interest rates were bought up to Volcker-levels the asking prices for houses would have to fall, along with assessed value. But it would make the dollar great again.
Imagine that world though. Local schools and governments would panic, having to adjust their spending downward based on projected revenue falling. Never mind that the biggest expense of most local governments is the pension fund, which would benefit greatly from high interest mortgages and loans. Some cities would default, some would double down and do mill levy adjustments, some would collapse after being hollowed out from white flight. I saw this first hand in the 1980s. I grew up in the rust belt, watching buildings become hollowed out shells or just leveled back to empty lots. When I moved out west and people were telling me that Denver was in a recession, even with new developments and buildings everywhere, I learned about public debt and what happens when people promise something that becomes impossible to deliver.
Humans never seem to learn.
“If interest rates were bought up to Volcker-levels”
Once Trump is selected, I fully expect that to happen in hopes of tanking the economy.
“If interest rates were bought up to Volcker-levels” — Horst Muhlmann
Anything can happen. One factor weighing against double-digit rates at the moment, is that the Federal Reserve actually has shrunk its balance sheet — the monetary base that feeds inflation — by 20 percent over the past couple of years. Chart:
https://tinyurl.com/5xnm8eah
Probably a white-knuckle recession is what will trigger the next reckless round of quantitative easing, where we actually ‘go Weimar’ in an inflationary supernova. I have this penciled in for the later part of this decade.
Pretty bad when a economy is ‘tanked’ because the population can’t afford borrowing more!
You would have to accurately determine the inflation level (probably at least 10% per annum) and then jack up the interest rates even higher than that. Probably 15-20% would do it.
Everything would come to a screeching halt, possibly including the government.
Oh how I love the millions of useful idiots who clamor for higher taxes on corporations – they need to pay their fair share!! So economically ignorant, they can’t figure out that such tax is just passed right back to them, embedded in the price of the product or service they buy.
Frankly. It’s getting to the point where people deserve this. If you are stupid enough to vote Harris-Walz, then it is delicious watching your wallet and bank account get drained. Problem is, they take the rest of us down with them, social contract and all.
Hi BAC,
Same thing with tariffs, ignoramuses somehow think that the it’s taxing the Chinese when it’s actually paid by the importer, who then passes the added cost onto the consumer. Get ready for double digit inflation.
Just find an empty house, squat there for a while, then move on.
Joe Biden did.
A landowner discovered a few people living on an empty farmstead a few years ago. Squatter’s rights, I suppose you can live there until somebody discovers you there.
Homelessness will skyrocket.
3.1 million Americans are living out of their cars and vans right now.
Politicians are collectivists. They all want something from you.
Politicians want the power to make you pay.
I doubt Kamala has ever paid her fair share, you are the one doing that. She collects and then helps herself.
Tim Walz is the same, he wants you to pay your fair share so he can keep it.
OPM is their favorite abbreviation.
Private residential homes and farmland taxes have tripled since 1990. The fair share always increases.
The gaping maw of the vampire squid does get fed.
Another pound of flesh to be extracted, what else is it?
Strabo fathered Pompey, Strabo the dad was not a popular Roman general. He was hated by people, General Pompey was loved.
You are going to need the consent of the governed, resistance happens.
Strabo was greedy and never satisfied.
When he died, his body was thrown from the pyre and insulted multiple times by those who hated him.
Mussolini was beat to mush.
Happens here too from time to time.
Some folks hated Lincoln, some folks hated Kennedy.
Harris will be hated even more.
‘Just ask any Democrat/Leftist to name the greatest accomplishment of Kamala Harris and you will see them melt in front of you.’ — Sundance
Oh, and don’t think for one second. that the gov’t can’t increase your property taxes if they don’t reassess your home’s value. They can easily do it. How? By changing your TAX RATE! How does this work?
Think of the Commutative Law of Multiplication. What it says is that the order of the multiplicand and the multiplier doesn’t matter; the answer will still be the same? An example will illustrate this.
Say for example we want to multiply two numbers together to get 100. There are a few different numbers that will get us to 20.
1*20=20
20*1=20
2*10=20
10*2=20
4*5=20
5*4=20
Note that the order of the numbers doesn’t matter; only having the right numbers does. With me so far? Good.
SO! Let’s say your town doesn’t want to take the politically explosive step of revaluing homes in their boundaries. The town gov’t knows they’ll catch flak for that, so they avoid doing it. What to do? Just change the TAX RATE! In my state, that’s called the millage rate. In other states, it’s measured in X dollars per $100 of assessed value. And so on. If they raise the tax rate while leaving the assessed value the same, then they can raise your taxes that way too.
Say your home is assessed at $100,000, and that you pay $4,000 a year in property taxes. The assessed value would be $4 per $100 of assessed value. The millage rate would be 0.04, or 4%, in this case. The math looks like: 0.04*100,000=4,000. Let’s say that the house is now worth $300,000. If the town revalues the assessment at $300,000, then the taxes go up to $12,000 per year; they triple. The math works like this: 0.04*300,000=12,000. This would obviously piss off the people.
OTOH, what the town gov’t can do is change the rate per $100 in value; i.e. they can change the millage rate. Instead of having $4 per $100 of assessed value, or a 4% millage rate, they can change that to $12 per $100 of assessed value; they can change the millage rate to 0.12, or 12%. Then, the math looks like this: 0.12*100,000=12,000. Notice how, in both cases, we get the same answer? Notice how, in both cases, the property tax is now $12,000? That’s the Commutative Law of Multiplication at work.
SO! Just because your home’s value isn’t reassessed doesn’t mean that your taxes cannot or will not go up; they can. What’s different? Only the method has changed.
In addition to being more insidious, more sneaky, more furtive, and more subtle than doing revaluations, changing the tax rate involves LESS WORK for the gov’t officials! Think about it: they don’t have to go to all the homes to look at them; they don’t have to do a proper assessment. No, all they have to do is change the tax rate, and Walla! The tax receipts go up!
In closing, if your town wants to raise your property taxes, they don’t have to revalue your home to do it. They don’t have to take that politically unpopular step. They don’t have to do all that work that proper reassessments entail. No, all they have to do is change the tax rate. It’s a sneakier, more subtle way to accomplish the same thing.
Thanks for laying that out, Mark! It is very important to understand and push back against what we’re facing. Before it becomes too late to do that.
In my neck of the woods, there has been a borough wide property tax cap for many years. The borough can only increase it via a vote of the people. So, our now left-leaning borough assembly decided they needed more money. For stupid crap, of course, and the usual, bottomless pit called “Education”. Even the stay-at-home “conservatives” got off the couch, and the measure was shot down in May. Surprise, surprise, the measure is back on the ballot AGAIN this Octobre. Apparently, the borough mayor and assembly did not understand the word “No” the first time around, as they still want to raise our taxes, because they have a lot of pet projects they need our money for.
‘They style their proposal an “unrealized capital gains” tax.’ — eric
All too often, so-called capital gains consist of nothing but currency depreciation. Since forty years ago, the Consumer Price Index has more than tripled. Everything has ‘gone up’ in terms of depreciating green scrip. But its real value may not have increased at all.
Neither wing of the Uniparty has the slightest intention of stopping the orgy of officially-licensed counterfeiting. It ‘pays’ for their empire of grift. As Nixon’s delinking of the dollar from gold in 1971 made clear, the reckless ‘guns and butter’ policies (i.e., welfare plus warfare) started under Lyndon Butthole Johnson were unaffordable. They remain unaffordable today. But this inconvenient fact has been papered over with $35 trillion of debt.
The poorly-drafted Clownstitution declares that ‘No State shall … make any Thing but gold and silver Coin a Tender in Payment of Debts.’ See the lawyerly trick? They didn’t include the usurper fedgov itself in this feckless prohibition! So worthless Federal Reserve Notes are ‘all legal.’ The hacks in black said so!
Big picture, the US fedgov is pushing past the limit of sustainability as interest on its debt rockets past a trillion a year to become the largest item in the budget. Meanwhile, the Social Security Trust Fund (itself a brazen fraud involving non-marketable Treasury debt) is projected to hit zero in nine years. Uncle Sam’s deceitful shitshow is about to smack the wall.
Any news from the Russian front, comrades?
Uh Jim,
Just because money is tied to a commodity doesn’t mean it can’t be debauched! It can be; only the method is changed. Think of Ancient Rome, because they did exactly that. Ah, but the gold bugs will NEVER tell you that!
Back in Roman times, copper was a precious metal. Their money was called the As, and it was based on copper. Well, after centuries of foreign adventurism, empire building, and generous social spending at home (sound familiar?), Rome had to pay for all of that; the bill came due. What to do? Why HALVE the amount of copper in the As, of course! Just like that, the money supply doubled overnight. It was the same as if they’d printed twice as much money.
What the Roman example teaches us is that if those in charge of the money supply want to debauch it, they can. It teaches us that there’s no such thing as “honest money”, as the gold bugs like to style it. Finally, it teaches us that it’s the integrity of those administering the money supply that matters, not what’s used as money.
‘Ah, but the gold bugs will NEVER tell you that!’ — Marky
The well-known depreciation of the Roman silver denarius is cited in nearly every hard money history, including this chart from an article in Bitcoin magazine:
https://tinyurl.com/44j8vz42
Gold constrains the money supply because no matter how hard miners work, the global gold supply rarely grows by more than one percent annually. Likewise Bitcoin is constrained by a hard-coded limit of 21 million.
Your point focuses on the maladministration of a hard money standard, not its effectiveness. Ultimately it’s nihilistic to assert that no monetary standard ever can endure, because human cupidity inevitably will undermine it. The blockchain proposes one remedy: democratizing the detection of fraud by distributing the ledger to all, supranationally.
Meanwhile, central bank counterfeiters are paying homage to gold by accumulating it in unprecedented quantities this year. Their actions speak MUCH louder than their ‘barbarous relic’ taunts for public consumption.
The point is that, by reducing the metal content, the money supply can still be debauched. Only the method has changed, not the end result. Secondly, it’s precisely the maladministration of a metals based money supply that yields the same result as printing money does. IOW, if we have the same people overseeing the money supply, the result will be the same-regardless of what’s used as money.
Hi Mark,
Yes, but having physical control over money with intrinsic value that’s not easily faked is a significant benefit vs. fiat paper currency whose worth lies solely in the willingness of people to ascribe value to it.
‘by reducing the metal content, the money supply can still be debauched’ — MarkyMark
It has been. Every one of us has some counterfeit ‘sandwich’ coins rattling around in the junk drawer or the car. Yet gold is selling for $2,546 an ounce today. No government can devalue it. In fact, they are radically revaluing [hiking] the price of gold, as they emit more counterfeit. Gold is not under their control. That’s why it shines. 🙂
My comment was predicated on the assumption that the gov’t had control of the money supply, which it has had since the days of the Constitution. Remember, back when the COTUS was written, we had a metals based money supply; the proof in the pudding is that Art. I, Sec. 8 says that only “Congress shall have the power to coin money, and regulate the value thereof.”
What I’d like to know is HOW the Federal Reserve Act passed muster. The COTUS clearly says that the US money supply is Congress’ responsibility; it says that only they can coin money and regulate its value. What does The Fed do? Coin (i.e. print) money, and regulate its value. I would SO LOVE for someone to challenge The Federal Reserve Act at SCOTUS! There’s no way it could pass Constitutional muster; in order for The Fed to exist, an amendment to COTUS would be needed. I’m afraid that that’s a pipe dream though…
Someone DID challenge the Federal Reserve Act. Here’s what happened:
‘No court has ever evaluated the institutional design of the FOMC for constitutional defect. In the 1970s and 1980s, a series of petitioners — first private citizens, then a member of the House of Representatives, and finally Senators —challenged the structure of the FOMC on the Appointments Clause basis. In each case, the DC Circuit — the initial appellate forum for most litigation on this issue — refused to reach the merits.’
https://lawliberty.org/forum/is-the-federal-reserve-constitutional/
In a word … GOTCHA. It’s an exclusive club: even Congress Clowns get turned away at the door.
Don’t even need to go back that far. FDR the tyrant woke up one morning and decided that the $20 gold piece was now a $35 gold piece. But no matter, all the gold was turned in for “safe keeping” at Ft Knox. Because you can’t be trusted with holding all that coin. So it might say it’s worth $35 on the label, but who knows for sure?
The precedence of FedGov tryanny to crush anyone that opposed it was well-established under “Dishonest Abe”. So, some 70 years later, with the demagogue FDR in office, who’d ironically had campaigned on the fiscal IRRESPONSIBILITY of our 31st POTUS, “Hobert Heever” (Hoover) and his “Reconstruction Finance Corporation”, and had gotten strong backing from Southern Democrats, who’d in 1928 had swung to Hoover, unwilling to elect the Catholic Al Smith, the game was on as already, after only twenty years of the “managed” economy with the Federal Reserve, the US Government was BROKE! Yes, the GOLD of Americans, their PRIVATE Property, was CONFISCATED, even if they were given those slips of toilet paper called currency in exchange. Just imagine had Americans that did have gold told the Feds to go fook themselves, and shot any “Revenooers” that tried to show up, much as Appalachian moonshiners did. We know that ARMED resistance to Federal direct taxation goes all the way back to our first POTUS, General of the Armies George Washington, and the 1794 Whiskey Rebellion.
But this was not to be. Although there’d actually been significant economic recovery from the infamous Stock Market Crash of 1929, with it gaining most of its value back by 1931, and employers began to hire again, there was still leftist agitation and VIOLENCE to “do something”. Do also remember the “Bonus Army”, which mis-used the plight of WWI Veterans, many destitute, to set up a “Hooverville” on the Anacostia Flats, with quite a few Communist agitators egging them on. After Congress refused to cave in and not advanced the promised 1945 bonuses (any bets they’d have been deferred to 1955 had history worked out differently?) to help the vets out, the Army, which could lawfully exercise civilian law enforcement in DC (the Posse Comitatus Act specifically excludes DC), kicked out the “Bonus Army”, led by such notable officers as Douglas MacArthur (the Army District of Washington CO), George S Patton, and Dwight David Eisenhower. It was a sad note, and one that the Democrats exploited to the hilt. What they ALSO did was to endorse the repeal of the 18th Amendment, which was quite unpopular by then, and said repeal, being pushed by “wet” states anxious to collect liquor taxes again, was actually opposed by the GOP! That, as much as sagging public confidence in Hoover, led to his crushing defeat in 1932.
If only the “Great American Boobsie”, as HL Mencken put it at the time, knw what was in store for them!
This unrealized gains business is BULLSHIT! Just because my home and/or investments are worth more today doesn’t mean that they’ll be worth more tomorrow. A gain can only occur if one sells their home and/or investments at the right time. How are these gains even going to be computed? What will the time horizon be? If the worth of an investment were compared to a time when it was higher than its present value, then it would be a loss. If it were compared to a time when it was worth less, then it would be a gain. See what I mean? What will the reference point be? It’s all BULLSHIT!
Hi Mark,
They – the eyeareess will “compute” it the same way the county/city assessor does. They will say your home was worth $250k last year but now it is worth $275k – and so you have “gained” $25k that is subject to tax.
Then, if unrealized gains can be a thing, so can unrealized losses. That would open up ANOTHER can of worms in terms of possible loopholes!
Hi Mark,
Except it never works that way. For example, when the Left insists it’s “my body, my choice,” it only applies to abortion. Not to “masks” – or “vaccines.” Understand what we are dealing with here. Facts and logic – let alone morality – are irrelevances. What matters is power.
We either smash these “shit Leftists” (as Milie calls them) or we will be ruled by them.
Some crafty and creative tax lawyer or accountant will try it though.
Also, leftism is a mental disorder. That’s all there is to it.
Be assured that the BILLIONAIRES that are backing the dingbat and the phony “war hero” aren’t planning to pay ANY taxes, let alone some tax levied on unrealized capital gains. There will be “exemptions” for them, and the politically privileged, but NOT for the American masses, who, if they swallow that bait, DESERVE exactly what they’ll get. Trouble is, we that KNOW better will be punished along with them!
As the late George Carlin said, “It’s a BIG (in prominence, not numbers) Club, and YOU ain’t in it!”
We either smash these “shit Leftists” (as Milie calls them) or we will be ruled by them.
It’s really that simple and that obvious. Too bad that the majority of Americans lack the guts for the “smash” part.
All these “patriotic” American gun owners, and all they ever think to do with their guns and ammo is practice on paper targets and cans and bottles. God forbid anyone suggest that they use them on human targets in defense of life, liberty, and property.
Hey liberranter why don’t you set the standard? Tell us what state you are in and I’ll give you a rich target list, although guessing you’re a fed, and you are probably aware of the soft underbelly your side exhibits. Few in numbers, stretched thin, morale only as good as the full faith and credit extended by we the people. I’ll stay ensconced in the high ground, and watch the smoke rise from the distance.
I still believe in a just universe, and although a pebble in my shoe, GovCo hasn’t come for my life, or made anything I do punishable by death, yet. Murder is different from self defense. Its a line everyone has to draw for themselves.
No, Norman, I’m no fed. Just an average joe getting frustrated with the inability of those around me to muster sufficient concern to defend that which they supposedly hold dear.
I happen to live in a part of the Southwest that’s extremely 2A friendly, so it will be interesting (to put it mildly) to see what happens after the November election theft if GovCo feels emboldened to go on a gun-grabbing rampage. I personally have little to lose, so I’m prepared to go out in a proverbial “blaze of glory,” knowing that I’ll ultimately lose the battle, but also that I’ll do at least one of the enemy harm and that ultimately any victory they enjoy will be pyrrhic.
I hear you Liberranter,
I’m in the same boat. It is frustrating. My hope is even the useful idiots cheering now might change their tune as food, fuel, and fibre prices take a bigger bite out of their asses. Not that we need them to join us, but the more people harboring a well reasoned hatred to the vile ways of our government, the better.
I find it calming, Like a mariner who has reached the waveless bay, the idea of death as simply the beginning of the next journey. Since it comes to us all, the manner in which you face it means everything.
Is psychopathy a generally recognized positive human attribute?
Yes, in those who seek power.
‘Then, if unrealized gains can be a thing, so can unrealized losses.’ — MarkyMark
Currently, there’s an asymmetry in the tax code. You may incur millions in capital losses. But you can only write off $3,000 per year on your tax return.
When you make money, the IRS is your partner. When you lose, the IRS says, ‘Deal with it, loser — we are not an eleemosynary institution!’
When you make money, the IRS is your partner. When you lose, the IRS says, ‘Deal with it, loser — we are not an eleemosynary institution!’
It’s our fault, collectively, for having tolerated the existence of this agency for the last 111 years.
Oh, the vocabulary lessons I get on EP Autos.
Today’s lesson: “eleemosynary institution”, i.e. “charity”.
https://youtu.be/74ocbvwam7c?si=EhwmHSqjdi7wi0YW&t=145
“Then, if unrealized gains can be a thing”
Which is just the thing. Unrealized capital gains is like military intelligence. Neither exist. If gains are “unrealized”, then they are not gains at all. In a former world, they would be called savings.
All taxes are neither more nor less than armed robbery. Who would pay any of them without a gun pointed to their head?
A tax on unrealized gains won’t happen. This is a fear factor campaign. It is like when the Asses come out and threaten to increase the rates on capital gains. Also, won’t happen. Why? Because the people who are paid through capital gains are the same people that make big, old, fat campaign contributions to these same politicians.
The Democrat Party throws these “ideas” out to rile up their base. They won’t see the light of day.
Hi RG,
I disagree. These are communists – and their end goal is to enserf the working and middle class. The tax on income was a first step. Then taxes on property. The problem – for ideological communists – is that working and middle class people could still afford to possess single family homes and that presents a barrier to communism. It is really – existentially – important to understand what and who we are dealing with. These are not politicians.
They are ideological communists. Walz especially. But also Harris. Both her parents were – literally – communists. And so is she.
They do not care about anything except power – and to get it, they will collapse everything. Most especially the financial security of the working and middle classes. This was how they did it in Russia – and they are going to try to do it here.
Understand this.
Just as BOTH of Barry Hussein O-Bummer’s biological parents were NOT Americans (don’t be misled by his bullshit bio and phony birth certificate, the late “Stanley” Ann Dunham was NOT his “Baby Momma”, I can cite several reasons that ANYONE with two functioning brain cells could realize destroys Obama’s life story of his origin), so “Kameltoe’s” parents were NOT Americans at all!
This is where we went “soft” in our thinking…the first being the end result of a FRAUD, perpetrated by a clever, upper-class (for Kenya, which, at the time, was still a UK colony) African, gaming the system by using the recently-born son of one of his Muslim-approved wives or even a mistress (we don’t know which), posing as his gullible American g/f, later wife’s, child, to maintain his “student” visa while he carried on not only his “studies”, but organized criminal activity. Of course, the kid was DUMPED upon the American girl and her idiotic father when the situation no longer suited Obama, Senior. Hence why the girl, still rather attractive, but with a Negro kid, being socially outcast by “polite” society, was willing to marry an Indonesian (please do keep in mind how unstable that country was in the mid-1960s!) and go take her “son” and live there! Hence the kid was raised in his formative years as an INDONESIAN, but he still, thanks to the forged birth certificate that gave him legal enough status under “Jus Soli” and “Jus Sangus” to be a “natural-born” American (cough!), came back to American in 1979, getting a scholarship for FOREIGN students. No Jew could have exercised great “Chutzpah!” Yet MORE phoniness was yet to come, as a fellow student, one Wayne Allen Root of Las Vegas, himself a prominent speaker and radio show host and author, attended the same college that Obama did, yet never heard of the man, nor can he be located on any YEARBOOK during that time! The final con was his own to live with, literally, as Obama’s homosexuality during his young adult years is well-known, as also is his marriage to the mysterious “Michelle”, or MICHAEL, who became his “Missus” long before the ill-fated 2015 Obergefell SCOTUS “brain fart”!
Well, at least the Cackling Ho’s origins aren’t so tortured. Hers is much simpler. She’s the ultimate ANCHOR BABY. Her parents, both FOREIGN graduate students, who went to “Berzerk-Lee” (Berkeley), the main campus of the University of Calipornia, coincidentally during the so-called “Free Speech Movement” of the early and mid-1960s, and their baby girl, born Kamala, was conceived. At least the social mores of the time were they “had” to get married, and they did. Maybe, like the recovering Spock that then-Admiral James Tiberius Kirk attempts to pass off as someone who “did a little too much ‘LDS’ ” during that time and place, actually HAD. Of course, that marriage was short-lived, and her mother, from India, took her infant daughter to continue her studies and teach in CANADA (which would be only natural, for one UK Commonwealth citizen to go to another such country), and her father, half-Negro, half-Irish, himself the scion of a wealthy Jamaican family, likewise went on with his life in Academia. Should such a “sketchy” beginning really matter for Kamala? No, but she grew up Canadian, and went back to the USA, being LEGALLY a citizen as she was born in Calipornia! Given her leftist upbringing, though, it was simply “going home”, though likely she’s have ended up some obscure bureaucrat in the State government, had she not caught the eye of the most powerful man in the California Democratic Party, Willie Brown. That there’s some thirty years difference between their ages didn’t matter, nor his still being MARRIED, he openly squired her about, and she won appointment after appointment to well-paying state jobs that she was utterly UNQUALIFIED for. When Brown had enough of state politics (he’d pissed off enough folks that a run for Governor or US Senator was simply out of the question), he capped off his career as Sin Francisco mayor, and his whore followed him, ending up with an undistinguished stint as SF District Attorney, where she put minor drug offenders in jail, even though, by then, de facto, “user amounts” of marijuana weren’t even being cited by the police, let alone arrests being made. Give “Kameltoe” this: although she got in the door on her knees or back, she managed to stay “inside’ and keep on getting elected, even though she’s despised thoroughly by most of her fellow Democrats!
“her father, half-Negro, half-Irish,”
no…..her father is…. half East Indian, half-Irish…but…. born in Jamaica…where is the black?……
RU sure? But if you’re right…maybe, like Ellis Boyd “Red” Redding, an inmate at Maine’s Shawshank State Prison, he’s “Black Irish”!
Her mother’s parents both east Indian…
Her father’s parents….one East Indian, one Irish….but…. born in Jamaica…so that makes him black?
She is BIPOC….so close enough?…..
1/4 Irish….so 1/4 evil white?……zero % black….
Elon Musk born in South Africa….so that makes him black?….no…..
No, but Elon Musk, and Charlize Theron, are…(drumroll)…AFRICAN-AMERICAN.
Dah-Dum!
Agree 100%.
Please keep in mind that communism (bolshevism) is a jewish invention.
Communists (jews) would like nothing better than destroy the American dream of home ownership. Basic jewish doctrine demands that us gentiles (who, according to the jewish talmud are lesser beings on a lower level than jews) do all of the work (slavery) while the jews “sit like effendi and eat”.
The concept of individual home ownership makes this jewish quest for domination difficult to implement.
Observe New York City where most apartment buildings are owned by jews who rent them out at extremely usurious rates while they “sit like effendi and eat”.
$3000.00 per month for a three-hundred square foot “efficiency” apartment is a bargain in New York City. My New York City relatives bristled at the fact when I stated that they “own nothing of value” because they cannot afford to, with their exorbitant rent being paid to some faceless jewish shylock “landlord”. They have come to the realization that I am right.
All one has to do is look at the number of single-family homes being snapped up by Black Rock and other financial institutions at well-above market rates and then not being rented out. This tactic has two purposes, one, to get homeowners out of their homes and in to rental units and two, pushes up the value of single-family homes, enticing present-day homeowners to consider selling out.
It always boils to the same group.
Hi Eric,
I actually got into a discussion with my father yesterday about this issue. My father is freaking out about a potential Harris/Walz presidency. I am not fazed, because 1) I don’t think it will happen (meaning they won’t win) and 2) you cannot pass tax laws by EO’s. I also believe the House will hold their Republican majority. The Left also knows who butters their bread and Gates and Bezos will not be accepting of taxes on unrealized gains of their stock options. Her stupid ass proposal would literally stop the purchase of assets (even by the rich) and would nosedive the economy into a worldwide Depression.
My point to my father was take a look at history….who introduced communism? Usually, a very feared man who controlled (killed) the opposition. Mao, Lenin, Stalin, Castro, Chavez, Ceausescu, etc. Not only must there be a central figure that brings fear to their people, but they must be charismatic, intelligent, and show strength. Does anyone look at Kamala and Tim and experience fear? There are no puppeteers in communism. The leading player must be tough as nails with an uncanny ambition to put their plans in place. Harris and Walz are both people pleasers. She is so scared she needs Walz to hold her hand in a sit down, pre-taped interview with leftist worshipper Dana Bash. Is Harris a woman with a commanding presence and a spine of steel? She is wishy washy, follows through on nothing, and is terrified of her own shadow. Walz is the male equivalent.
One cannot enforce a communist society if the key player is passive, unintelligent, and lacks the ability to see their goals through. All we are asking for is a coop…or an invasion, where we actually may have something to truly be fearful of.
Have to kind of disagree with you on this one RG. The first part, Gates and Bezos, SMH. They are unaffected by anything they don’t want to be affected by. They have armies of lawyers and accountants. If that fails, they will just pick up stakes and sail their entities somewhere else.
Second, if you’re counting on the Repubes doing anything other than playing loyal opposition, then I don’t think you’ve looked deep enough.
Finally, Nosediving the economy is a feature, not a bug of communism. Its the starting point, or at least a useful tool for more communism. There are always puppeteers in communism. Bathhouse Barry comes to mind. But, if you want to go a little deeper and find the real shot callers, it is always masonic/jewery, as expressed by those who pull the strings and call the tunes. International bankers are the responsible parties you’re looking for.
Hi Norman,
Then we will have to agree to disagree. 🙂
There is a reason why communism doesn’t work for very long. When the government/State buys all assets and there is no reward for the producer than the system fails. The State needs revenue to survive. When one takes away the initiative for success, riches, and growth these same people stop producing and revenue decreases. In a short period of time revenue decreases to the point that the basic functions of society cannot be met (e.g. the feeding, clothing, and housing of said military/dictators in charge). The State then crumbles and a new government must come in and begin selling assets back to the very same people that they stole them from.
Sorry, I disagree that Barack is in charge of anything. Just a few years ago we titled him the Manchurian Candidate for him being controlled and now he is calling the shots? Nah, I don’t believe it.
I also will argue that it s not in Israel’s best interest to obliterate the USSA. Israel gets what they want from the US government in terms of arms, money, attention, etc. Why would you destroy something that is easily controlled?
The Right throws around communism as much as the Left throws around fascism. Both play on fears. We are getting enraged about a suggestion from an idiot who is a long way off of being instilled into the Oval Office. Maybe we should focus on what is truly being done to us as in constant government surveillance rather than a coulda, woulda, shoulda that likely will not see the light of day.
It is easy to get around unrealized gains. One sells their assets into physical loot that cannot be traced such as cash, jewelry, artwork, or precious metals. Food, guns and ammo also work.
I am not losing sleep over this. I am much more fearful of Alexa listening to my conversations in my car/home that is then being saved to a file in a data center somewhere to be used against me at a later date.
I’m not losing sleep over any of it either RG. It is what it is. I wholeheartedly agree communism cant work for long. And with the crew they put forward, it becomes laughable.
To my pea brain it seems like the best thing at this point is everyone getting it good and hard. Might eventually cause a hard turn back in the right direction, as pain has a way of focusing peoples priorities. Lord knows Harris and her crew, if corn holed into power, will be the most incompetent bunch to ever pretend to be in charge. Which in turn will be the best testament to the institutional failures of government. In essence snatch victory from the jaws of defeat.
When I brought up jewish freemasonry/international banking I wasn’t talking about the state of Israel, although they are a drag on the US. The spiral of selling caused by such a proposed overreach as a national property tax could lead to a fire sale, millions of sellers and no buyers. This leads to illiquid assets, at least as far as Realestate goes. I firmly believe its not beyond this bunch to completely ignore reality, and not give a rip about the consequence. They care about one thing only. Absolute power.
Would disagree about the state needing revenue to survive, at least regards the US. As long as the world accepts us abusing our exorbitant printing press privilege, its not a problem. We will continue to live on borrowed financial time until we don’t. The things you pointed out wont happen until we are militarily defeated, or our currency is repudiated by some big name countries.
Neither inspires confidence, and when, and sadly to say, it’s been in my lifetime, and I’m but 65, politicians were “honest”…that is, when they were “bought”, they STAYED “bought”.
After seeing how the senile, kiddie-hair sniffer (and lets face it, folks, this joke of a POTUS was an ’empty suit’ and a PLAGARIZER when he was in what passed for his ‘prime’) was literally propped up as could be gotten away with, and otherwise hidden from view (“pay no attention to that man behind the curtain!”), “elected” under dubious circumstances, why does it matter how terrible the Dummycrat “second team” is? Maybe they’re rubbing it in our faces…
https://www.youtube.com/watch?v=1FtKRtpzFc4
‘They are ideological communists. Walz especially. But also Harris. Both her parents were – literally – communists. And so is she.’ — eric
And in the elites’ usual ‘laughing up our sleeves’ way, they use symbolism — three red banners in every Democrat presidential campaign logo — to make their communist agenda perfectly plain. Decoded:
https://tinyurl.com/mv9m88yd
Mere coincidence? I reckon not.
>A tax on unrealized gains won’t happen.
Agree, for two reasons.
1. Difficulty of valuation.
a) Would the property owner be required to pay for a qualified appraisal every year?
Unlikely.
b) Does the IRS have the bureaucratic machinery, let alone the competence, to appraise every property in the U.S. for purposes of taxation?
No.
c) Does the IRS have the power to dragoon every county assessor in the U.S. to do its dirty work?
No.
In any case, here in California we have Prop 13, which means the County Assessor does not have a current market valuation, only a record of what the owner paid upon acquisition, plus the legally allowed annual increment for county tax purposes. So, what is the IRS going to use to value properties? Zillow?
2. Difficulty finding the actual owner of the property.
Those with even a modest knowledge of asset protection have long since transferred ownership of real, and even chattel, property to legal entities which are private in nature, such as trusts and LLCs. They (we) personally own nothing. The actual owners are legal entities without a public face, and, to my knowledge, a trustee cannot be held *personally* liable for financial obligations of a trust of which he, or she, is trustee.
Asset protection, in all its forms, is *big* business, engaged in by attorneys for profit.
IRS would be attempting to f* with da Big Boyz and their *highly* compensated attorneys. Dream on, Skeezix. Ain’t gonna happen.
Hi Adi,
I agree with everything you stated. It is going to be next to impossible for government to appraise physical assets including autos, houses, etc. Where this could come into play (and I still stand by it won’t see the light of day) is in stocks, commercial paper, or retirement accounts. This information is reported monthly by the investment firms and can easily be forwarded to the IRS at year end. Investment firms already track unrealized gains. It would be very easy for the IRS to use these figures to initiate a tax.
What would happen if the State implemented such an idea? A massive exodus from the US Stock Market and the immediate failure of the US economy.
Don’t forget ADI and RG, destruction is a feature not a bug of communism. It does seem hard to accept that some people are pure evil psychopaths. Yet pain and misery is the payout for these people. They enjoy causing suffering. Easily provable by their records.
Easy to asses value using Zillow or Realtor. I agree it will only apply to those who did not prepare. LLCs and other structured entities will be exempt. As for the IRS, Come on, who really believes they cant do whatever TF they want. Especially under emergency powers.
How depressing. But it will happen, mark my words. This new tax is a perfect opportunity for the local govs to reassess property EVERY year instead of whenever they get around to at or have the stomach to deal with the public’s griping over reassessments.
Assessments will go sky high, property taxes will go sky high. My assessment hasn’t increased since my house was built in 2009, yet my taxes still go up $400+ every year. So after 15 years I have paid an additional $6,000 on top of my already outrageous property taxes. Imagine if the assessment increased every year as well. I would be paying at least an added $1200+ every year. Fuck it. I’m just about done paying at all. Let them evict me.