"Breathtakingly Terrible Idea": Top Democrat Proposes Taxing Unrealized Capital Gains

So just what has the newly elected democratic majority been up to? Besides the endless calls for more investigations, and political posturing ahead of of 2020, what does the 116th congress have in store for us? MSM does an excellent job of reporting on the democrats obsession with Russia, and keeps us all well informed about 2020 presidential candidates. MSM can tell you all about the big plans the DNC has for the 2020 117th congress too. Here's one example of what the new House majority is working on TODAY. MSM isn't interested, so it boils down to 2 simple questions. Why isn't MSM interested, and more importantly, why aren't DNC voters? https://www.zerohedge.com/news/2019...crat-proposes-taxing-unrealized-capital-gains Can we afford, even survive a (D) Senate majority in 2020?

 

Here are two more CURRENT democratic legislative proposals. For the benefit of voters who expect the 116th congress to accomplish something besides campaigning to become the 117th ... https://www.foxnews.com/politics/senate-dems-introduce-bill-to-abolish-electoral-college
https://www.washingtonexaminer.com/...-advance-bill-next-week-lifting-spending-caps

 

A lot of unproven assertions in those comments. Jestsayin.

 

Assertions like? Do you have an MSM source who's reporting on the new capital gains tax proposal? I'm watching intently because I'm currently contemplating selling my vacation home. In 30 yrs the value has tripled.

 

Would you like to bullet point those assertions you need me to substantiate for you? It'll save time.

See that "blocking" issue hasn't been fully resolved yet ...

 

Craziest. Idea. EVER.

 

The title is dead on. I think it ties into the other link on (D)'s lifting gov't spending caps. (D)'s want more for entitlements, not because 2020 approacheth of course ... but anyway ... (D)'s want more money so badly that the bill includes another $30+bn in defense spending increases. https://thehill.com/policy/finance/436774-dems-wrestle-with-budget-decision Keep in mind that (D)'s were furious that Trump repurposed defense funds. (D)'s already know they're powerless to prevent him going forward too.

 

Translation:

 

NYC elitists are up in arms over losing SALT deductions right? Trump redistributes democratic wealth? FRONT PAGE HEADLINE. Democrats want to tax all the equity you accumulate while planning for retirement? NOTHING TO SEE.

 

A proposal is not a low. This "can we survive" paranoia is just that, hype.

Ron Wyden's proposal won't even get heard in the Senate, and probably won't go anywhere in the house.

It's a bad idea. At least it's a bad idea all by itself.

Ironically, his "mark to market" proposal uses the same sort of accounting tricks that Enron used to falsify the value of its largely imaginary holdings.

The core issues is that since Reagan, the US has chosen to tax passive earnings at a significantly lower rate than earnings from actual work. (there was a brief exception to this rule in the 1990's).

This change along, drove wealth into the hands of people who already had it, After all, acquiring and holding assets is much easier when it is taxed at 2/3 of the rated as the income derived from work that it too to buy the asset in the first place. Of course, Wall Street has worked ceaselessly to widen this gap.

 

Is your vacation home worth more than 1.5 million?

Looks like these 14,000 Republican voters affected by this bill might doom the Democratic Party!

Nothing like propaganda to strike up the masses to get upset about a bill that has no effect on them. Good job Zero Hedge

https://komonews.com/news/local/house-budget-proposal-includes-new-state-capital-gains-tax

 

Sorry, you're not entitled to see my tax returns. You think million dollar homes are scarce? Fly over country must be nice. It doesn't only apply to homes either ... and komo news is MSM coverage? Yeah the House bill is GOP propaganda.

 

I think it's important for people to recognize that for the most part, New Democratic Party members aren't required to have much intelligence to win and hold office. As long as they can put together the right appeals to emotion, voters within the ideology will vote for them. It's all emotion. Think not? Think Beto, AOC, etc..

Imagine someone suggesting they tax your future income potential. Just got a degree in engineering? Well, every year your tax rate on whatever income you make will be based on what you could be earning, not on what you earned.

I can't imagine anyone coming up with such a proposal, let alone exposing their intellectual shortcomings by making it public.

 

This is why I say that every moment the spend trying to get trump, is a moment aren't spending trying to destroy America.

Trump is a true American hero

 

Encouraging people to invest and plan for retirement is a good thing. It makes them more self sufficient and less dependent on government.

I recognize that is a horrifying concept for Socialist Progressives, and certainly explains their kneejerk emotional response to anything that encourages that self sufficiency.

 

For the sake of transparency I have to reveal that if you Google "Wyden senate capital gains tax" you'll find 2 left leaning outlets who reported on this. CNBC and Yahoo. Even they concede the bill is a disaster. Democrats given the opportunity can and will take all your stuff and donate it to the people they think deserve to have it.

 

Calling it a bill is even propaganda.

Don’t worry. I really don’t want to see your tax returns.

Scare tactics. It’s all this is.

 

Well, they've convicted the President of a crime that never happened. So why not also tax an unrealized gain? Soon they will claim seats in Heaven.

 

What it is ... is exactly what I billed it as in my OP. "What democrats are WORKING ON" today. Wyden is trying to find support in the Senate for this crackpot scheme. Why you initially pretended only 14,000 republicans would be effected if it's enacted, I haven't a clue. Don't lecture anyone on propaganda OK?

 

The premise is just plain stupid. Unrealized Capital gains are not "real" because the security has not been sold. Ron Wyden is part of the old school liberal brain trust. A father of the current crop of nuts the left wing has produced in congress. He has wanted to tear down the US for a long time, just too ignorant.

 

(D)'s have a budget dilemma they can't resolve. As the deadline draws nearer (D)'s need some unrealistic revenue forecasts to justify very real deficits. I think the prospect that the gov't is funded via a string of (D) House temporary spending measures for nearly all of fiscal 2019 is very real too. Before Wyden proposed this tax, I'd already begun to explore my cash out options. My efforts to minimize my present liabilities will be doubled as of yesterday.

 

Themselves... yes... very true. Liberals are always looking for more effective ways to shake down the peeps... Always looking for more and more ways to further concentrate their wealth..

 

Look at post #10 ... Wyden isn't even a progressive in my book. But (D)'s like Wyden are all being drawn to the screeching siren songs of OcraZio Cortez and her band of communista's. Tax the rich isn't new, or progressive. The taxation of ones lifetime retirement savings is though.

 

Can you imagine if republicans turned that prying eye of taxation on liberals? Started taxing their time, because most don't have actual wealth.. but can you imagine taxing unproductive time making it expensive to be lazy??