Name:	MartiniMan -	Reply
Subject:	Janet Yellen is insane
Date:	10/25/2021 1:39:23 PM

So now they want to tax the "unrealized capital gains" of wealthy billionaires.  Apparently this is the brilliant idea of the Dementia Joe admin and she is actually stupid enough to think it's anything other than insane.  Setting aside the nightmare of someone having to decide what the number is, how will they handle unrealized losses?  Or will the pretend they don't exist?  Stop, don't answer that as I can assure you they either didn't think about it or simply will not allow them.  This will have an absolutely devastating and chilling negative impact on investing.  Not only that, but the markets will likely drop by a huge amount as the uber rich sell off stocks to pay the tax.......which of course means that their actual gain will be much lower.

One would think this idea was in the Onion or Bablyon Bee versus coming from the mouth of a moronic "economist".....no wonder they call it the dismal science which is an afront to real science.  We all know the billionaires will find a way around this if they even allow it to happen.  So when it crashes the markets, trashes the economy and fails to generate the gazillions in new revenue what do you think they will do next?  Yep, lower the limits.  So the millionaires will say nothing because they aren't billionaires.  And then when they come for their unrealized gains the rest will say nothing because they aren't millionaires.  Then when they come to tax the unrealized gains in your 401k, IRA and pensions the rest will say nothing because they don't have these accounts.  And that last group will become the 30% that vote for Democrats.

Name:	lakngulf -	Reply
Subject:	Janet Yellen is insane
Date:	10/25/2021 3:02:23 PM (updated 10/25/2021 3:03:57 PM)

I agree it sounds INSANE but think thru this.  When I was in school Dr Flynt was history professor at Samford.   Great teacher, better person.  Finished his career at Auburn..  Because he was so good I took everything he offered and history became my second major.  Oddly enough he was my son's favorite processor also, at Auburn.

Dr Flynt argued for higher property tax to pay for education etc.  He opposed Alfa s lobby against higher property tax.  The good Dr leans heavily left.  As the son of a cattle farmer whose livelihood came from his property I argued against higher property taxes.  I remember one class where I argued that to many folks their stocks are their "property", that if $100,000 of AT&T was property instead of stock there would be a tax on it.  My Dad could not put his money in ATT and still have land to pasture cows, grow corn and bale hay.

There is the argument that when stocks are sold they are taxed.   Same with land

I am sure there will be easier methods for stock  holders to avoid than for farmers with property. 

It's a thought

Name:	MartiniMan -	Reply
Subject:	Janet Yellen is insane
Date:	10/25/2021 3:37:53 PM

I get your point but property taxes to fund education is a local tax.  Presumably the owner of the property has a defined benefit from the education system being financially supported.  But this idea of taxing unrealized capital gains I assume would also include real estate, which is already taxed at the local level based on some market value determination. 

That is far different than stocks that someone owns, especially say in a privately held business.  Who decides what that amount is and how do you account for changes in value which happens all the time on a temporal basis.  So you are taxed once on unrealized capital gains at a specific point in time.  That value could be vastly different later on.  And would it be a one-time tax or ongoing?  To me it is an insane idea that will wreak havoc on an already fragile economy.  What will ordinary Americans think if their retirement savings drop say 40% overnight as a result of this scheme?  It is unworkable and insane and if I were a billionaire I would simply renounce my U.S. citizenship and move all my asset holdings off shore.  And I am sure I'm scratching the surface of the implications of this idiotic idea.

Name:	lucky67 -	Reply
Subject:	Janet Yellen is insane
Date:	10/25/2021 3:38:33 PM

tax a "gain" that hasnt happened--novel idea I  missed in MBA courses--maybe I could realize a loss in my AT & T that i havent sold ? hey just remember all this $3+ TRILLION is free except for the cost of paper & ink to print the fake money

Name:	lucky67 -	Reply
Subject:	Janet Yellen is insane
Date:	10/25/2021 4:45:27 PM

MM--what planet are you on ? billionnaires dont keep $$ in the USA & have 20-30 accountants ; its all offshore , so peons like us are whats left to pay for JOes free stuff 

Name:	Carlson -	Reply
Subject:	So your house value has gone up? Pay up
Date:	10/25/2021 7:16:35 PM

Unrealized value of your house is taxable.  Your portfolio has increased 50% in the past few years, pay up.  

please make all this nonsense go away!

Name:	lakngulf -	Reply
Subject:	So your house value has gone up? Pay up
Date:	10/25/2021 7:23:27 PM

Correct 

Name:	wix -	Reply
Subject:	So your house value has gone up? Pay up
Date:	10/25/2021 8:31:33 PM

Have ya’ll ever gone to Tallapoosa County GIS and checked any of the property taxes paid on undeveloped waterfront property owned by Russell or APC.  Very interesting how little property tax is assessed on millions of dollars worth of land that is called farm land for taxes.  I didn’t add it up but I’ll guess the new development at Wicker Point has been taxed at a few thousand per year…….for property that will sell for over a billion!

Name:	Talullahhound -	Reply
Subject:	Janet Yellen is insane
Date:	10/25/2021 9:21:32 PM

x /cYellen is insane. It is like they have programmed her and these wild ideas seriously come out of her mouth.  And to think she was the Fed chair. 

They are desperate to find some way to get their hands on the wealth - not just the billionaires and the millionaires, but this is going to backfire on the middle class.  It certainly doesn't bode well for those that buy and hold stocks that have increased in value.  I gather they will have brokerages report your unrealized gains as of a certain date?  And at a rate of 25%?   Why will anyone invest?  And I assume they will create a baseline for your unrealized gains?  Because other than that, they will be taxing it over and over.   And of course they will go after your 401K, your IRA or any other place that you are saving for retirement.  And when you sell your house, they will tax every dime of capital gains on that too.  

All so we can have a social welfare program that they have dreamed up.  It's like the lunatics have taken over the asylum.  Bettter to just blow your money and have a good time and let the government take care of you when the time comes.  I'm sure they have a plan for that too.

Name:	Lifer -	Reply
Subject:	Janet Yellen is insane
Date:	10/26/2021 6:27:38 AM

But the 3.5 TRILLLION DOLLARS is "free".  It's paid for, it costs NOTHING, so why do they have to raise taxes to pay for it?

Name:	Talullahhound -	Reply
Subject:	Janet Yellen is insane
Date:	10/26/2021 10:02:00 PM

Beause we both know that it isn't free, it doesn't cost zero and at the moment, they don't know how the hell they are going to pay for it.  

This new proposal to tax "unrealized" capital gains show you just how desperate they are.  The Rich were never going to pay for this, anymore than Mexico was going to pay for the Wall.  When you are a politician, it would seem that you can say any damned thing and expect people to believe it.