They are "unrealized gains" that's not a term they just made up. They're theoretical gains that you'd have if you sold it at the current price, it shouldn't be taxed because it's not real money.
That'd be like if you had to pay taxes for 2024 on January 1st, 2024 based on the amount of money you could make. It's absolutely absurd.
Here here. As a "philosophical anarcho-capitalist", I think starting to abolish ALL taxes wherever possible is an incremental step towards liberty that actually could gain support. We need to normalize the idea in the culture that taxes are a necessary evil, minimized as much as possible, with very specific constraints on what they can be imposed on and who makes the decision. Repeal the 16th, obviously. Then find other ways to pay for things - usually in the form of usage-based fees.
I'm also ok with the government getting their cut when a property is sold. What I'm not ok with is perpetual taxation. It's like you're just renting your property from the state. It's very hard on people as they get older. There should be a cap on all property taxes payable by a single owner. It could be a really high number, like 100% the total, payable over time. Or you could outright pay the total tax bill up front if you have the cash. After that you only have to pay a smaller service fee for things directly related to town property management: roads, police, firefighters, maybe public schools IF your child goes to public school. I'd prefer to privatize all of the above but they can work as utilities too.
At least with property tax I can see their being justification for various infrastructure costs....but as we've seen from most administrations, they hardly ever spend the money for such needs.
Again it’s taxation based off investment. If this passes the government can pick and choose taxation entirely off what they value something as. It’s a massively corrupt metric that will only realistically impact private businesses, investors, and homeowners if the government deems them to be worth more than what they were taxing them at before
They are "unrealized gains" that's not a term they just made up. They're theoretical gains that you'd have if you sold it at the current price, it shouldn't be taxed because it's not real money.
That'd be like if you had to pay taxes for 2024 on January 1st, 2024 based on the amount of money you could make. It's absolutely absurd.
Here here. As a "philosophical anarcho-capitalist", I think starting to abolish ALL taxes wherever possible is an incremental step towards liberty that actually could gain support. We need to normalize the idea in the culture that taxes are a necessary evil, minimized as much as possible, with very specific constraints on what they can be imposed on and who makes the decision. Repeal the 16th, obviously. Then find other ways to pay for things - usually in the form of usage-based fees.
I'm also ok with the government getting their cut when a property is sold. What I'm not ok with is perpetual taxation. It's like you're just renting your property from the state. It's very hard on people as they get older. There should be a cap on all property taxes payable by a single owner. It could be a really high number, like 100% the total, payable over time. Or you could outright pay the total tax bill up front if you have the cash. After that you only have to pay a smaller service fee for things directly related to town property management: roads, police, firefighters, maybe public schools IF your child goes to public school. I'd prefer to privatize all of the above but they can work as utilities too.
At least with property tax I can see their being justification for various infrastructure costs....but as we've seen from most administrations, they hardly ever spend the money for such needs.
it's a tool they have proven utterly unqualified to wield.
Buddy of mine asked our local government (now seeking a third half percent property tax increase in 5 years) "where is the money going?"
Spoiler alert: they didn't like that question. Or answer it.
It's basically a wealth or head tax. It's just not for the most part progressive, and we don't talk about it.
Leftover from people profiting from their property, but now it's just a way to fleece people.
The rapist Bill Clinton proposed to tax “unrealized gains” on home owners that had extra rooms they could have rented out.
Prince John of Nottingham was less of a crook than today’s liberal scum.
Again it’s taxation based off investment. If this passes the government can pick and choose taxation entirely off what they value something as. It’s a massively corrupt metric that will only realistically impact private businesses, investors, and homeowners if the government deems them to be worth more than what they were taxing them at before
It shouldn't affect anyone, ever. Unrealized gains is a financial term to refer to theoretical profits, and it should stay that way.