Taxing Unrealized Capital Gains Is a Nutty Idea
National Review,
by
David L. Bahnsen
Original Article
Posted By: Pluperfect,
4/6/2019 6:07:13 AM
If an idea is being put forward these days by a Democratic candidate for president or a freshman member of Congress, it is probably a good idea not to take it too seriously. This is not to say that there are not legitimately dangerous things being proposed by the Kamala Harrises and AOC’s of this era — tuition-free college, Medicare-for-all, fossil-fuel elimination, 70 percent tax rates, racial reparations, court-packing, ending the Electoral College, legalized infanticide — but I am not so sure that an elimination of private health insurance (Harris) or the funnier implications
Reply 1 - Posted by:
jeffkinnh 4/6/2019 8:12:17 AM (No. 25108)
Someone should collect all the nutty ideas that dems are putting forth and write a book. They should include a detailed explanation of why the dem ideas are useless and destructive. It could be a useful manual for years to come since dems tend to continually recycle their ideas no matter how moldy they become.
The heart of THIS proposal is the dems voracious and insatiable appetite for seizing money for their purposes. It is about the power and control that money allows them to exercise. It is about envy of success.
12 people like this.
Reply 2 - Posted by:
mean Gene 4/6/2019 8:24:03 AM (No. 25096)
It´s one thing to let delusional people stay in the general population, but quite another to take their delusions seriously.
How job-killing would this plan be?
11 people like this.
It would be the proverbial killing the goose that lays the golden eggs.
10 people like this.
Reply 4 - Posted by:
Nevadadad46 4/6/2019 9:50:33 AM (No. 25102)
speaking of "nutty ideas´ what about the unearned "earned tax credits" that steal billions from our treasure and give it to undeserving bums and illegal aliens?
What about post-birth "abortion" (murder of newborn babies)? That was passed- That´s nuttier than a Snicker´s bar!
Just because an idea is nutty does not mean lefty politicians won´t pass it as a law.
10 people like this.
And Ron thinks I´m the deplorable one.
9 people like this.
Reply 6 - Posted by:
Safari Man 4/6/2019 10:13:32 AM (No. 25107)
Cut spending.
10 people like this.
Reply 7 - Posted by:
Ken M. 4/6/2019 10:24:27 AM (No. 25100)
Colossally ignorant and stupid.
And this mindset also is why they will always hate DJT - because he´s a businessman (not a politician), and they will never understand his accomplishments. We all know the list; freeing up small business, record low unemployment, healthy GDP, etc. etc.
They are only capable of thinking about 1. taxing, and 2. other schemes to grab our money.
10 people like this.
Reply 8 - Posted by:
lakerman1 4/6/2019 11:02:23 AM (No. 25097)
The Trump tax cuts have moved many people away from itemized deductions, which means that the IRS has too much time on its hands.
I suspect the genesis of this proposal came not from Ron The Corpse Wyden, but from the union that represents IRS workers.
8 people like this.
Reply 9 - Posted by:
Digger 4/6/2019 11:06:07 AM (No. 25103)
I’ve been waiting to see an editorial on this ridiculously outrageous proposal. The author has expertly summarized the reasons, practical, moral and ethical, why this proposal should be DOA. What is the d...fool Wyden thinking?
10 people like this.
Reply 10 - Posted by:
Historybuff 4/6/2019 11:19:02 AM (No. 25101)
I already have that in my NYS real estate tax - The house I paid $204,000. for in 1996 is said to be worth just over a million dollars. I am taxed as if I have realized this amount.
The city´s assessment went down by $200K last year, to just over a million. Guess what did not go down? My taxes.
9 people like this.
Reply 11 - Posted by:
Obviousity 4/6/2019 11:20:56 AM (No. 25104)
Ron has just admitted that they have run out of other peoples money.
9 people like this.
Reply 12 - Posted by:
stablemoney 4/6/2019 11:44:37 AM (No. 25099)
Bill Gates and Warren Buffett have proposed raising their taxes, but we all know that it will not stop there, that it will be our taxes. In 2016, they were going to take our 401K´s. Now tax our unrealized gains---but limit our loss deductions to $3K. Why does the left need more taxes anyway? The left prints all the money they need, when they are in office. Congress is not stopped from spending, because they don´t have any tax revenue.
9 people like this.
Reply 13 - Posted by:
D S Craft 4/6/2019 12:24:07 PM (No. 25098)
This is industrial grade stupid. It´s the kind of nonsense you´d expect from a junior high school kid or the new clown from New York. The question is, why is Wyden putting this out there because he´s old enough to know better.
9 people like this.
Reply 14 - Posted by:
VirtuDawg 4/6/2019 1:26:49 PM (No. 25094)
So, what isn´t a "nutty idea" from the current slate of Dims???
- infanticide through abortion at birth
- the "Green New Deal," which proposes a complete socialist takeover of the US economy and individual liberties under the guise of "climate change" "policy"
- 70% tax on the "wealthy"
- reparations for people who are in no way affected by institutionalized slavery from the 1860s
- elimination of the Electoral College, so that the California and New York liberal "elite" can determine national politics and policies
- open borders and unlimited illegal immigration, followed by provision of unlimited social services
- unlimited sanctuary and protection of criminal illegal aliens
This is only a partial list . . .
11 people like this.
Reply 15 - Posted by:
DVC 4/6/2019 2:23:46 PM (No. 25095)
What part of "unrealized" is too complex for them to grasp?
11 people like this.
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It´s not a "gain" if you´re still holding it, is it?