Too me it seems that the talk about taxing unrealized gains is generally unpopular, but people's degree of objection is limited because most think I" don't do stocks, or I'm not that involved with it. That's going to effect investors mainly but not my self." But inflation could truely get insane. Most people realize this and recognize the inequality of being taxed on zero real gains just for holding something that retained a steady real value. But what people don't realize is they are sitting on an asset that could go to a million dollars quite easily. They won't be rich in any real sense. The home is mearly retaining its proper value in real terms. But you are going to be taxed for becoming a millionaire in a single year as if you really were one. That could wipe out half your annual income or more, just for owning a house whose value didn't go up in reality.
The point is, if you think this is a remote issue to oppose merely on principle you're wrong. This decision would effect so many people.
Besides taxing unrealized gains, with hyper inflation the gains are going to be realized at some point and so this will be an issue eventually in any case.
Hiding assets might be the name of the game.
Too me it seems that the talk about taxing unrealized gains is generally unpopular, but people's degree of objection is limited because most think I" don't do stocks, or I'm not that involved with it. That's going to effect investors mainly but not my self." But inflation could truely get insane. Most people realize this and recognize the inequality of being taxed on zero real gains just for holding something that retained a steady real value. But what people don't realize is they are sitting on an asset that could go to a million dollars quite easily. They won't be rich in any real sense. The home is mearly retaining its proper value in real terms. But you are going to be taxed for becoming a millionaire in a single year as if you really were one. That could wipe out half your annual income or more, just for owning a house whose value didn't go up in reality.
The point is, if you think this is a remote issue to oppose merely on principle you're wrong. This decision would effect so many people.
Besides taxing unrealized gains, with hyper inflation the gains are going to be realized at some point and so this will be an issue eventually in any case.
Hiding assets might be the name of the game.
(post is archived)