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

[jc456]

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

they are if you don't pay them back.

 

[EvMetro]

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.

Go get your own job, commie. Get your eyes off of other people's paychecks.

 

[EvilCat Breath]

they are if you don't pay them back.

That's whats lawsuits are for. Judgements are for. Seizures are for.

 

[Darkwind]

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

I have an arguement. Stop listening to propaganda. /thread

 

[Indeependent]

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.

Now we know you don’t know the difference between unearned income and unrealized gain.

 

[Claudette]

pknopp
Oh and just where will they get this 3 trillion dollars???

 

[pknopp]

pknopp
Oh and just where will they get this 3 trillion dollars???

Who has to pay $3 trillion?

 

[BluesLegend]

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

Dems NEVER pass up an opportunity to CRAM THOUGH TAX INCREASES. There's a reason they call them TAX and SPEND Democrats. Even if in a current economic situation like the Covid fallout tax increases are the worst idea during that situation. Dems DON'T CARE what damage the tax increases do to people or jobs.

 

[BluesLegend]

pknopp
Oh and just where will they get this 3 trillion dollars???

You know, from the 'rich'. I swear Dems have spent the 'rich' money 10 times over already. Just poke yourself in the eye a few times then Dem math will make sense. #sarcasm

 

[Claudette]

BluesLegend
I doubt they can get 3 trillion from the rich. Of course they are to stupid to realize that. What a pack of imbeciles.

 

[BluesLegend]

Hey, lefties...just confiscate all wealth.

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

You know that's what they want to do. Some Dem leaders in congress have said so publicly. One Dem got frustrated in a televised House committee meeting and threatened to SOCIALIZE all the oil companies and have government take them all over.

 

[BluesLegend]

BluesLegend
I doubt they can get 3 trillion from the rich. Of course they are to stupid to realize that. What a pack of imbeciles.

There's simply not enough 'rich' people to pay for all this crap. BOTH parties think they can just go on borrowing money forever. Already at $28 trillion in debt and growing exponentially. After these morons spend all the 'rich' peoples money then a loaf of bread will cost $150.

 

[jc456]

That's whats lawsuits are for. Judgements are for. Seizures are for.

actually, it's usually chapter 11 or 13, dimes on dollars. So yeah freebies.

 

[jc456]

There's simply not enough 'rich' people to pay for all this crap. BOTH parties think they can just go on borrowing money forever. Already at $28 trillion in debt and growing exponentially. After these morons spend all the 'rich' peoples money then a loaf of bread will cost $150.

there isn't 3 trillion out there. no fking where. if people actually understood the difference between million, billion and trillion. hhhahahahahahhahha Thanks Blue!!!

 

[jc456]

Who has to pay $3 trillion?

you didn't just write that?

 

[jc456]

You know that's what they want to do. Some Dem leaders in congress have said so publicly. One Dem got frustrated in a televised House committee meeting and threatened to SOCIALIZE all the oil companies and have government take them all over.

did anyone ask the rep if he/she was going to hand all his/her money over first?

 

[BluesLegend]

there isn't 3 trillion out there. no fking where. if people actually understood the difference between million, billion and trillion. hhhahahahahahhahha Thanks Blue!!!

^^^ nailed it. First there's not that many billionaires and $1 trillion is 1,000 billion. Biden is proposing to spend 3,500 BILLION.

 

[pknopp]

you didn't just write that?

Yes I did. And I'll note you didn't answer.

 

[22lcidw]

Who has to pay $3 trillion?

This will grow as the programs inside the budget will grow over time and of course the hidden stuff that handcuffs us comes to bloom. it is like that moderate Garland telling us that parents who question the school board for their children are domestic terrorists. Repubs need to elect the same type as what Progs get.

 

[BluesLegend]

did anyone ask the rep if he/she was going to hand all his/her money over first?

Dems are jealous that in other countries government owns all the profits from oil, gas and coal. That's why Dems are so pissy about private companies making a profit on energy, DEM's want all that money.