Quote:
Originally Posted by Pete F.
Nothing is impossible, though that attitude may be why you are kept in a cubicle.
You do understand that we have no problem taxing people on a valuation basis for what is most families biggest capitol asset, their homes.
The current system does not tax a household’s economic income, which is the sum of the household’s consumption and the change in its wealth during the year. By this standard, all capital gains that occur in the year in question should be included—whether realized or unrealized.
There are a number of ways to change this, none impossible or beyond understanding (look at the current tax code for something that is beyond comprehension)
1. Eliminate step-up in basis at death
2. Tax capital gains at death
3. Tax capital gains on an accrual basis
4. Retrospective taxation
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a home is one asset. what would
you do with an art collection?
there’s a reason why it’s never been tried.
nice guess why i’m in a cubicle, you’ve kept alive your impressive streak of being wrong in everything. i’m in a cubicle because my goal
was to find a job where i could
live the way i live now, but not have to work a ton of hours. i’ve had opportunities to move into an office, but i don’t want the extra work hours. i dont need more money, i need more time with my kids.
“tax capital gains at death”. which would force a huge number of people who inherited homes, to sell
them because they can’t afford the tax.
i would truly love all democrats to campaign on the promise of taxing unrealized capital gains.
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