New York and California consider wealth tax
- Thread starter livingston
- Start date
ManualF150
.308 Win
They will be losing me in the very near future.
RedBreast21
6.5 Creedmoor
Unrealized capital gains tax nonsense again. lol Sure tax the 0.1% a whopping 1-1.5% more. I can barely write this as I'm laughing too hard. Their fear is showing. 
TEOTWAWKI inc.
.338 Win Mag
Different groups. They don't compare notes.
Everything this goddamn government does just drives more people away. I have a daughter getting married this summer. After that I am taking a very hard look at other states.
given the increase of new "voters" that have nothing and will vote to get what's promised or offered, what could possibly go wrong?
If you have the kind of money they want to redistribute, then you can move to a friendly aka Free State.
Wanting to tax unrealized gains (notice that losses aren't deductible or claimable) could be exploited to Tax your Gun Collection, Home, Classic Car (if they don't refuse to license/register/insure it for carbon emissions) Retirements. IRA's, et.al.
If you have the kind of money they want to redistribute, then you can move to a friendly aka Free State.
Wanting to tax unrealized gains (notice that losses aren't deductible or claimable) could be exploited to Tax your Gun Collection, Home, Classic Car (if they don't refuse to license/register/insure it for carbon emissions) Retirements. IRA's, et.al.
kev74
20×102mm Vulcan
Soon they'll lower the "wealth" threshold to $15.
ManualF150
.308 Win
We all know they will keep lowering the hurdle. They are testing the waters with the rich.
Then it'll be to the middle class (or what ever is left of it)...
Saltwater60
20×102mm Vulcan
I see they understand really well why people are fleeing NYS and CA for lower taxed states. This makes complete sense.
TEOTWAWKI inc.
.338 Win Mag
They should tax all the people that play the lottery like they won it! It's an unrealized gain, right? The cost of a ticket can be equivalent to the taxes on the winnings.
holdover
.475 A&M Magnum
How Soviet of them.
Acer-m14
20×102mm Vulcan
Acer-m14
20×102mm Vulcan
German Farmers roll the Tractors .. more Tax on fuel ..
Acer-m14
20×102mm Vulcan
spat
.950 JDJ
This is literally AOC's Amazon gambit.
Someone should ask her what they spent all those tax breaks they "saved" on.
Someone should ask her what they spent all those tax breaks they "saved" on.
You pay when you earn, and that wasn't always the case. You paid when you spent, that was the norm. Now they want you to pay on unrealized earnings, just because they say it has value. And this... Good stuff! Because your WEALTH will be determined by the Govt and then you pay, you pay, and you pay...
Funny shit is the payments are used entirely to fund a dysfunctional govt that has morphed into the most grotesque example I'm sure our founding fathers could have ever imagined!!!
What happens when en mass, entire groups of citizens Tax Revolt and refuse to pay? Stop work en mass for a week in protest! Not that it would happen unfortunately because conflicting political ideology would prevent it... But what if? What of nobody showed up for work? What the fuck would they do? But the single little blip of tax withholding would send shivers throughout the machine for sure... 30+ Trillion as our GNP shut down for a week... ¾ of a Trillion in lost production/taxable gain for the Govt? One little bitch slap across the face!
Of course there's some that would need to work, medical, prisons, etc., Lol... But it's just a thought.
Funny shit is the payments are used entirely to fund a dysfunctional govt that has morphed into the most grotesque example I'm sure our founding fathers could have ever imagined!!!
What happens when en mass, entire groups of citizens Tax Revolt and refuse to pay? Stop work en mass for a week in protest! Not that it would happen unfortunately because conflicting political ideology would prevent it... But what if? What of nobody showed up for work? What the fuck would they do? But the single little blip of tax withholding would send shivers throughout the machine for sure... 30+ Trillion as our GNP shut down for a week... ¾ of a Trillion in lost production/taxable gain for the Govt? One little bitch slap across the face!
Of course there's some that would need to work, medical, prisons, etc., Lol... But it's just a thought.
Saltwater60
20×102mm Vulcan
I e been advocating for large swaths of people to claim exempt for years. No money in, no pay checks, and then we remake and reelect as we want. Now that thought scares me because of who people would select and how they would want it.
Should be one flat tax based on income level with no to minimal personal income tax rebates. I get the business exemptions for buying new equipment and some other things.
Well, when NYS policies finally forced me to leave NYS, I was not rich (far from it), but what their economic policies also did, was make me close two separate businesses; let go all of my employees; and stop using my various subcontractors as well. Most of it went to other states when I left.
As more and more small business owners do the same thing, the damage to NY's economy will only continue to grow.
Fuck the Queen of HIGH Eyebrows Whorecul; her fellow ilk; and her predecessors, including FUAC; that asswipe, - the Hamlet on the Hudson; and others clear back to Rockefeller, and too many others to name.
I'll say it again: New Yorkistan is a lost cause. GTFO as soon as you can.
As more and more small business owners do the same thing, the damage to NY's economy will only continue to grow.
Fuck the Queen of HIGH Eyebrows Whorecul; her fellow ilk; and her predecessors, including FUAC; that asswipe, - the Hamlet on the Hudson; and others clear back to Rockefeller, and too many others to name.
I'll say it again: New Yorkistan is a lost cause. GTFO as soon as you can.
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MothMan
.338 Win Mag
Social Security Wage Base Increases to $168,600 in 2024
The Social Security Administration (SSA) announced that the maximum earnings subject to Social Security (OASDI) tax will increase from $160,200 to $168,600 in 2024 (an increase of $8,400).
tax.thomsonreuters.com
This old retired white man wants to say "thank you"!!
I disagree on ANY INCOME TAX at all... There was a time when there wasn't any. Consumption Tax is all that's needed! You spend, you pay! You don't, then you don't! The Rich spend at levels we only dream of, and the poor do not. It's a simple system that works.
I know my memory is shot lately, but I remember there was a case of a tax objector some time ago that got to the highest court... And their response was something along the line saying that although the person was correct, ie, fighting the legitimacy of the 16th amendment, they said that although he was correct, overturning the Amendment would cause more harm (to the Govt) than good! So he lost, and so did everyone else!
I know my memory is shot lately, but I remember there was a case of a tax objector some time ago that got to the highest court... And their response was something along the line saying that although the person was correct, ie, fighting the legitimacy of the 16th amendment, they said that although he was correct, overturning the Amendment would cause more harm (to the Govt) than good! So he lost, and so did everyone else!
Saltwater60
20×102mm Vulcan
You could do it either way. The sales tax thing is good for folks like me that would save and 401K good portions of their pay. Income tax is likely more steady as sales tax is collected quarterly and can fluctuate more. I also like sales tax because if I spend my money in another state it’s more meaningful.
STS556
.223 Rem
They talk about a balanced budget requirement but when our AG Henrietta Hippo keeps filing frivolous lawsuits that are paid for with our tax dollars, then its hard to keep a balanced budget.
Dr. Evil
20×102mm Vulcan
What wealthy people? They are all leaving.
TEOTWAWKI inc.
.338 Win Mag
Isn't this what we have now? Your fiat currency is exactly the same as my fiat currency. Why should it be taxed differently based on how much of it we earn?
If there must be a tax, it should only be one (low) flat rate on consumption. Fuck the rich/poor wealth gap is unfair argument and punitive tax bracket bullshit.
The whole system is designed to keep us enslaved.
Saltwater60
20×102mm Vulcan
No it’s a graduated tax level right now with plenty of deductions. If you make $25,000 you’re taxed at a lower percentage than if you make $250,000.
TEOTWAWKI inc.
.338 Win Mag
So you propose a flat tax that progressively increases at some rate based upon income?
That_FNG
.308 Win
So if one has to pay tax on unrealized gains, then one can also write off on their taxes unrealized losses. I bought a lottery ticket and did not win the mega millions. Therefore I can write off millions in losses, thus ensuring I pay no taxes ever? Sounds like a deal to me!
ManualF150
.308 Win
What should happen is the government give us all a million dollars a year, then tax some of it, and repeat every year. I mean they like burning money... right?