Tax Question...But Politically Motivated

[monkeyswrench]

Heard Glenn Beck this morning talking about the tax on unrealized gains. This would be capital gains, for the difference between what my house cost me and what they think it's worth, correct?

Does this mean if Kamala wins, I'll have to cough up that much money for taxes? I bought 12 years ago, but between the economy and the "improvements", the property is worth 3-4 times as much.

I could lose my house I think. Actually, pretty sure. F' me! Take the one thing I own that can help my kids out, and things will get extremely ugly...

 

[HNL2LHC]

Heard Glenn Beck this morning talking about the tax on unrealized gains. This would be capital gains, for the difference between what my house cost me and what they think it's worth, correct?

Does this mean if Kamala wins, I'll have to cough up that much money for taxes? I bought 12 years ago, but between the economy and the "improvements", the property is worth 3-4 times as much.

I could lose my house I think. Actually, pretty sure. F' me! Take the one thing I own that can help my kids out, and things will get extremely ugly...

Yepp that is about right AND they want to go after your investments as well. Even if you have not cashed it out. Then they will most likely not give it back when the market Goes lower. Total cash grab!!!

 

[regor]

Heard Glenn Beck this morning talking about the tax on unrealized gains. This would be capital gains, for the difference between what my house cost me and what they think it's worth, correct?

Does this mean if Kamala wins, I'll have to cough up that much money for taxes? I bought 12 years ago, but between the economy and the "improvements", the property is worth 3-4 times as much.

I could lose my house I think. Actually, pretty sure. F' me! Take the one thing I own that can help my kids out, and things will get extremely ugly...

Believe it’s on investments, but if that were indeed the case, we could FINALLY get this party started!!!!

I don’t think there’s a snowball’s chance in hell that any sort of suggestion they’re making would pass Congress at this point. All talking points for their dumb ass and poor inequality sheep.

 

[HNL2LHC]

Believe it’s on investments, but if that were indeed the case, we could FINALLY get this party started!!!!

I don’t think there’s a snowball’s chance in hell that something like that would pass Congress at this point.

I did here homes values as well.

 

[monkeyswrench]

Believe it’s on investments, but if that were indeed the case, we could FINALLY get this party started!!!!

I don’t think there’s a snowball’s chance in hell that something like that would pass Congress at this point.

Although I'd like to have some faith in the government, I think they'd mostly sell us out. My only "investments" are my homes.

 

[regor]

Although I'd like to have some faith in the government, I think they'd mostly sell us out. My only "investments" are my homes.

They WILL get the bullet at that point.

 

[Doc]

Believe it’s on investments, but if that were indeed the case, we could FINALLY get this party started!!!!

I don’t think there’s a snowball’s chance in hell that any sort of suggestion they’re making would pass Congress at this point. All talking points for their dumb ass and poor inequality sheep.

So basically this sounds like the federal version of California's Prop 13's attempted reversal if I am correct?

 

[92562]

Heard Glenn Beck this morning talking about the tax on unrealized gains. This would be capital gains, for the difference between what my house cost me and what they think it's worth, correct?

Does this mean if Kamala wins, I'll have to cough up that much money for taxes? I bought 12 years ago, but between the economy and the "improvements", the property is worth 3-4 times as much.

I could lose my house I think. Actually, pretty sure. F' me! Take the one thing I own that can help my kids out, and things will get extremely ugly...

In it's current form, it only affects those with net worth over $100M. That said, you know once they start, there will eventually be a percentage for the rest of us. It is theft, plain and simple.

 

[monkeyswrench]

In it's current form, it only affects those with net worth over $100M. That said, you know once they start, there will eventually be a percentage for the rest of us. It is theft, plain and simple.

Well, I'd be safe for a bit...but I know they're greedy as hell.

 

[Mack]

All tax’s started at the top 1% then every following time more money needed it is lowered to the middle class get ready the inheritance tax will for sure get your house if you think you where going to pass it on if she is elected. Only corporations will survive and all individuals will taxed to the equity bullshit agenda and own nothing

 

[thetub]

"you will own nothing and be happy" - Klaus Shwaub and Rodnjenetelia

 

[Sandlord]

If you bought your house for 500K. And its now worth 700K, you’ll get a tax bill for 50K.

Its 25%, use your own numbers to figure your Kamala tax.

 

[regor]

In it's current form, it only affects those with net worth over $100M. That said, you know once they start, there will eventually be a percentage for the rest of us. It is theft, plain and simple.

And we all know what the rich do when they tax them, they pass it on!!!!

 

[port austin pirate]

Dems new tax bill proposed, when you have a kid they will estimate how much he or she will earn in their lifetime and you will have to pay the taxes on that amount since you had the kid, good news is you can do it in installments or voluntary work at slave labor political opponent camps coming soon to your neighborhood. of course, your kids will still have to pay yearly income tax in case they happen to earn more than the estimate.

 

[HST4ME]

Although I'd like to have some faith in the government, I think they'd mostly sell us out. My only "investments" are my homes.

I have less than zero faith in the government. And we were given very simple instructions to protect ourselves against such.

 

[Sharky]

As I posted in the Boeing thread-

My wife got Boeing stock when she was born in 1962. About 65 cents a share.

We have been enjoying the dividends for the last 60 years and now. . . . Gonna tax me on unrealized gains????

Don't. . . fucking. . . . think. . . . so.

I'll donate it to the GOP before they get a penny from me.

 

[Mack]

Search number of Americans on disability as of July 2024, result 28% This is unsustainable. The government will come after all our money to keep their system afloat. world wide disabled population is at 16% why is the US 12% higher

 

[Wedgy]

So. SSDI. Is there graft? Or is there corruption? Of course. But.

Maybe it's because a helluva lot more Americans than pussyfucklazy Europeans are working their ass off at 2 and 3 jobs. In my case 4.
Tilesetter. 50 Years.
Licensed CA Contractor. Apprenticeship Instructor.
Full time Tile Instructor at San Diego Job Corps..

It's not only the physical work.
It's the driving that got me.
2 car crashes. 1 year apart.

I gave it hell for 2 more years trying to fight through and heal up. Not happening. Doc pulls the plug. 2010. At 53. F ME.

And What? I'm a fucking deadbeat drain on the system?

Surgeries into double digits trying to come back. F the haters.
I earned every penny.

Yeah fuck that. And ALL the criminals and ALL the lazy mutherfuckers too.

 

[monkeyswrench]

Search number of Americans on disability as of July 2024, result 28% This is unsustainable. The government will come after all our money to keep their system afloat. world wide disabled population is at 16% why is the US 12% higher

This is a tough one. I really don't know what the solution is. I have a son that may or may not end up in that category. As long as I'm around, I'll try to make it so he's not, but there's nothing saying I'll live forever.

I personally feel the bigger drain on the economy is paying illegals to have kids, supporting them with both housing and medical care. Add to this the amount spent on the drugs crossing the border, LE and and FF response, and it seems those numbers would be huge.

Not to mention, billions of dollars spent around the world, for everything from wars to "gender ideology"...

 

[Mack]

I am saying what the hell is causing such a 12% above world number here in US (the premier industrial first world country)is it Covid shot, processed food, medical establishment, fraud what ever it is it needs be addressed if the number continue to rise we as a country are in trouble. Look back pre 2020 and look at today numbers something not right.

 

[Mack]

I fear this country is slowly withering away from the wounds of a thousand cuts all perpetrated by sorry self serving represantives senators and presidents. Average citizen has no idea the extent of farm bankruptcy coming that will affect the food supply all caused by our government not staying out people business. The list goes on but food, health, security should be the main focus and all those are being sidelined for dei, hurt feelings, unicorns and rainbows the time to wake up is passing and no return will be possible

 

[monkeyswrench]

I am saying what the hell is causing such a 12% above world number here in US (the premier industrial first world country)is it Covid shot, processed food, medical establishment, fraud what ever it is it needs be addressed if the number continue to rise we as a country are in trouble. Look back pre 2020 and look at today numbers something not right.

Honestly, I don't know what the numbers were pre-covid. With some of the side effects, I would definitely agree that some people couldn't stay working, at least not in the jobs they had. I have a friend that's a roofer. Works for a municipality now that mandated the shot. He's 50 now, but had 4 heartattacks in less than a month a few years back. He's on all kinds of meds now.

I fear this country is slowly withering away from the wounds of a thousand cuts all perpetrated by sorry self serving represantives senators and presidents. Average citizen has no idea the extent of farm bankruptcy coming that will affect the food supply all caused by our government not staying out people business. The list goes on but food, health, security should be the main focus and all those are being sidelined for dei, hurt feelings, unicorns and rainbows the time to wake up is passing and no return will be possible

When the government pays the land owners 3 times what market would be to leave the fields bare, there is a big problem. The DEI and feelings brigades are just disruptions, not the goals. The end game I feel is much more heinous.

 

[HNL2LHC]

This is a tough one. I really don't know what the solution is. I have a son that may or may not end up in that category. As long as I'm around, I'll try to make it so he's not, but there's nothing saying I'll live forever.

I personally feel the bigger drain on the economy is paying illegals to have kids, supporting them with both housing and medical care. Add to this the amount spent on the drugs crossing the border, LE and and FF response, and it seems those numbers would be huge.

Not to mention, billions of dollars spent around the world, for everything from wars to "gender ideology"...

You are so right Kevin. There will always be cases like you describe with your son. I pray that he outgrows his challenges.

But there are so many that milk the system. They feel that everyone else is doing it so why shouldn’t they? Then those like my wife with her challenges and they deny her social security after having brain surgery and her not being able to work. She worked 30+ years and contributed the system and is fighting for her rights. While others with nothing into the system is pulling $$$ out of it. The system is broke and it needs to be fixed if that is even possible.

THat being said I hope that you are able to take some time and enjoy the family. by the way, how is the daughter doing these days? She must be on break from school. Will she be going into her third year? Take care my friend!!!

 

[monkeyswrench]

You are so right Kevin. There will always be cases like you describe with your son. I pray that he outgrows his challenges.

But there are so many that milk the system. They feel that everyone else is doing it so why shouldn’t they? Then those like my wife with her challenges and they deny her social security after having brain surgery and her not being able to work. She worked 30+ years and contributed the system and is fighting for her rights. While others with nothing into the system is pulling $$$ out of it. The system is broke and it needs to be fixed if that is even possible.

THat being said I hope that you are able to take some time and enjoy the family. by the way, how is the daughter doing these days? She must be on break from school. Will she be going into her third year? Take care my friend!!!

Daughter started back this week. This is her last semester Applications and such are going in, and we'll have no clue where she may end up. I think some of the places she may apply to, she's not allowed to tell us she applied to. Now though, she's getting a bit nervous. "Adulting" sucks, and it's coming fast

The system is broken. I think it has been for years, but I wasn't a part of it, and didn't pay attention to how the money was spent that was taken. It's really a difficult thing for me to understand though, how to solve the problem. I know people abuse the system. I also know there are people that really do need the help. I know I'm one of the lucky ones. We can get by. I know there are those that couldn't.

Of course, it pisses me off to no end seeing the people on state assistance getting into cars 10-15 years newer than mine, and their kids also driving newer stuff. That's when I have to practice being calm.

 

[Wedgy]

You are so right Kevin. There will always be cases like you describe with your son. I pray that he outgrows his challenges.

But there are so many that milk the system. They feel that everyone else is doing it so why shouldn’t they? Then those like my wife with her challenges and they deny her social security after having brain surgery and her not being able to work. She worked 30+ years and contributed the system and is fighting for her rights. While others with nothing into the system is pulling $$$ out of it. The system is broke and it needs to be fixed if that is even possible.

THat being said I hope that you are able to take some time and enjoy the family. by the way, how is the daughter doing these days? She must be on break from school. Will she be going into her third year? Take care my friend!!!

You need a good SSDI Attorney. She has a legit case.

So did I. 2 years 8 months of denials and then court.

The system isn't giving it up without a fight. Right or Wrong.
My attorney is John Byron Martin. San Diego.
Baddass U.S. Marine pilot..
Vietnam. Thank you for your service John.

 

[HNL2LHC]

You need a good SSDI Attorney. She has a legit case.

So did I. 2 years 8 months of denials and then court.

The system isn't giving it up without a fight. Right or Wrong.
My attorney is John Byron Martin. San Diego.
Baddass U.S. Marine pilot..
Vietnam. Thank you for your service John.

We have been working with an attorney that is provided by the company that covers the long disability that the wife has been receiving. So they have their best interest at heart. When the win they get all the disability funds that have been provided since day one. Am I wrong thinkIng that they should be capable of defending us? Or should we go outside and find our own attorney? The way I look at it we will get funding from social security OR the long term disability firm. I think that the Only thing that would change is the medical and moving to Medicare. That is an issue as she has MRIs once a year at $5k a pop at our expense as our insurance is not accepted by the Mayo Clinic. I am a bit concerned if the tumor comes back we are going to b F’d!!!!