Joe Biden's 'Zillow' Tax - An Income Tax On Income That Doesn't Even Exist

[Darkwind]

The Fed Will Pump Another $2.3 Trillion Into The Economy. Here’s Why This Time Is Different

But you already know the answer to your question.

Anytime you read an article in which they tell you why it is important to you is an article that is outright lying to you.

 

[wamose]

Next Biden will tell us that this will simplify filling out our taxes, dipshit that he is.

 

[struth]

there is not a dollar out there, that you have earned, or even not earned. that the demafacist cult doesn’t want to take from you

remember the Demafasict Cult leader’s motto…”you didn’t build that!”

 

[pknopp]

Anytime you read an article in which they tell you why it is important to you is an article that is outright lying to you.

Yeah, you have no argument as you know we have been pumping the markets for over a decade.

 

[ColonelAngus]

Taxing unrealized Capital Gains is like arresting someone for IMAGINING killing someone.

 

[Toddsterpatriot]

They pay next to no taxes on the unearned income from that wealth.

Next to no taxes?

Can you translate that into a percentage?

 

[struth]

Taxing unrealized Capital Gains is like arresting someone for IMAGINING killing someone.

oh don’t worry the demafascist want a thought police…that’s coming too if we continue to allow these tyrants to have power

 

[EvilCat Breath]

Filthy rich people do benefit from their wealth investment.

They get loans based on the value of that wealth.

They get unearned income from that wealth.

They live very well from that wealth but they don't get taxed on it until they liquidate that wealth.

They pay next to no taxes on the unearned income from that wealth.

The result is that they are people like Jeff Bezos, they pay ZERO federal income taxes.

I don't know about you but most of the people in this nation want the filthy rich to start paying their fair share of taxes.

We have a debt that is over 20 trillion dollars.

How do you people expect to pay that debt?

Allowing the filthy rich to not pay any or their fair share of taxes makes that debt constantly grow every year.

If you all don't want to start properly taxing the filthy rich then all these decades of screaming about deficit and debt is just another one of your right wing lies.

The rich pay way more than a fair share.

 

[iceberg]

The year 2021 has seen President Biden and congressional Democrats explore, very publicly and painfully, seemingly every possible way to squeeze more tax money out of the American people. This exploration has taken place though the federal government just enjoyed the biggest revenue haul in two decades, inflation is higher than it’s been in three decades, and Senator Kyrsten Sinema (D., Ariz.) has taken all tax-rate increases off the table.

Desperate for any new tax at this late hour of the “Build Back Better” soap opera of socialism, all hands have come on deck for perhaps the craziest idea yet — an income tax on income that doesn’t actually exist.

This new policy would, for the first time in American history, tax the annual increase in asset values held by “the rich” (those people, over there). It doesn’t matter whether the taxpayer in question sold the asset and realized an actual profit or not — merely the increased gain in value would be enough to trigger annual taxation. If certain versions of the proposal prevailed, it could mean that, if your house went up in value last year, Uncle Sam will want to tax you on the growth in its Zillow Zestimate.


It's sorta like your local property tax - if the value of your property goes up you are taxed on the value of the property.


If your stock value increases you can be taxed instead of being taxed when you cash in that investment. In a recent poll, in a 3 to 1 margin Americans opposed this tax. Then there’s the small matter that a Zillow Tax is unconstitutional. As Joe Bishop-Henchman of the National Taxpayers Union (NTU) has pointed out repeatedly, such a tax violates the standard set out by the Supreme Court in Eisner v. Macomber (1920). In the case, the Court explicitly rejected a tax on the increase in value of a stock which had not actually been sold:

The Zillow Tax | National Review

The latest Biden proposal: an income tax on income that doesn’t actually exist.

www.nationalreview.com

this is about as buttnugget stupid as you can get.

but it does scare me they're not done outdoing themselves in stupid.

i do hear that the $600 transaction limit got raised to $10k but i still say "get the fuck out of my bank account". if im under investigation for a crime, examine away. til then, keep out.

 

[jc456]

Hey, lefties...just confiscate all wealth.

You guys do not give a fuck about the Constitution anyways...just steal 100% of everyone's money.

There you go, ^^^^^^^^^^^^^^THIS^^^^^^^^^^^^

They should just come right out and say they deserve all the money!!!!!!

 

[jc456]

The rich pay way more than a fair share.

indeed. Again, the demofks have no idea how money works. They are all about the freebies.

 

[jc456]

Filthy rich people do benefit from their wealth investment.

How?

 

[EvilCat Breath]

Communist democrats can't think. They truly believe that the ordinary middle-class person will not be crushed by this nonsense tax scheme. Home equity will be the first unrealized income taxes. If you owe $200,000 on a home worth $600,000 you don't have $400,000 in equity. You have $400,000 added to your annual income, every year. Most people do not have an annual income of $400,000. Their entire yearly salary won't be enough to pay the taxes. Perhaps that's the whole point.

 

[jc456]

Communist democrats can't think. They truly believe that the ordinary middle-class person will not be crushed by this nonsense tax scheme. Home equity will be the first unrealized income taxes. If you owe $200,000 on a home worth $600,000 you don't have $400,000 in equity. You have $400,000 added to your annual income, every year. Most people do not have an annual income of $400,000. Their entire yearly salary won't be enough to pay the taxes. Perhaps that's the whole point.

dude, demofks hate the middle class. Every action they take vastly affects the middleclass, either side of that pendulum.

 

[bripat9643]

Filthy rich people do benefit from their wealth investment.

They get loans based on the value of that wealth.

They get unearned income from that wealth.

They live very well from that wealth but they don't get taxed on it until they liquidate that wealth.

They pay next to no taxes on the unearned income from that wealth.

The result is that they are people like Jeff Bezos, they pay ZERO federal income taxes.

I don't know about you but most of the people in this nation want the filthy rich to start paying their fair share of taxes.

We have a debt that is over 20 trillion dollars.

How do you people expect to pay that debt?

Allowing the filthy rich to not pay any or their fair share of taxes makes that debt constantly grow every year.

If you all don't want to start properly taxing the filthy rich then all these decades of screaming about deficit and debt is just another one of your right wing lies.

You are one dumb mother fucker. How does any of that entitle the federal government to take it? Most people are not as stupid as you are. They don't hate people just because they have money.

Passing this tax would cause our economy to collapse.

 

[jc456]

You are one dumb mother fucker. How does any of that entitle the federal government to take it? Most people are not as stupid as you are. They don't hate people just because they have money.

Passing this tax would cause our economy to collapse.

it's what the demofks want. It's very obvious today. Supply chain fked, services fked, now they want the money. I stand up and wave my fickle finger of fate at them!!!!

 

[iamwhatiseem]

Filthy rich people do benefit from their wealth investment.

They get loans based on the value of that wealth.

They get unearned income from that wealth.

They live very well from that wealth but they don't get taxed on it until they liquidate that wealth.

They pay next to no taxes on the unearned income from that wealth.

The result is that they are people like Jeff Bezos, they pay ZERO federal income taxes.

I don't know about you but most of the people in this nation want the filthy rich to start paying their fair share of taxes.

We have a debt that is over 20 trillion dollars.

How do you people expect to pay that debt?

Allowing the filthy rich to not pay any or their fair share of taxes makes that debt constantly grow every year.

If you all don't want to start properly taxing the filthy rich then all these decades of screaming about deficit and debt is just another one of your right wing lies.

Are you Forest Gump?
Holy Shit dude...

 

[Toddsterpatriot]

i do hear that the $600 transaction limit got raised to $10k

$10k a year. Who has less than $10k a year in transactions?

 

[iceberg]

$10k a year. Who has less than $10k a year in transactions?

ah, not a single transaction but $10k a year now? clever, those bastages.

 

[EvilCat Breath]

Loans aren't free money. They have to be paid back, with interest.