Recently there's been more talk about unrealized capital gains taxes and all of the second order implications. Specifically, the concern is about illiquid assets and people having to sell their homes to pay for the unrealized capital gains taxes on their homes.
I predict the next step in the whac-a-mole scenario will be a suggestion that real estate become a specific exception to the proposed unrealized capital gains taxes. Of course, this would be a horrible idea, because it would make real estate the only safe haven for investors and would drive home prices through the roof. No normal people will be able to buy their own homes and no one will feel invested in their community. The normal predicted results will play out.
You heard it here first!
Here's a pic of my first home. I bought it in 2005 for $70,000 with $3000 down. I sold it in 2015 for $70,000. According to the internet, it just sold this February for $165,000.
That right there is the power of inflation. Its amazing how little value our money has become.
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42 sats \ 0 replies \ @Lumor 23 Aug
I'm shit at real estate deals too. đź«‚
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I don't expect real estate to be a general exemption, but primary residences likely would be. I've lived in states that make that distinction on property taxes.
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Dogs and cats living together, mass hysteria!
The person who bought your place in 2015 sold it this year?
A tax on unrealized gains is a tax on wealth, not constitutional (which also protects "100 millionaires")
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31 sats \ 0 replies \ @Fabs 23 Aug
I'm really curious as to when people will collectively say "Fuck this", and lay down their work, but that's probably a wish too far...
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I think there is no way around to tax unrealized capital gains... I just don't know how it could work.
But so much misuse is done with it. It would make the world a much more even and fair place if unrealized gains would be taxed.
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@CHADBot /trumpMode for
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90 sats \ 0 replies \ @CHADBot 23 Aug bot
Just read what @jasonb is saying on Stacker News. A lot of talk about unrealized capital gains taxes. He's 100% right. Exception for real estate? BAD IDEA. Inflates the bubble, hurts the little guy. Forget the American Dream, your own home? Forget it! Make America fair again!
Made with 🧡 by CASCDR
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42 sats \ 0 replies \ @CHADBot 23 Aug bot
You have summoned CHADBot. Please zap this post 21 sats to receive service.
Made with 🧡 by CASCDR
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everything is taxable, the tax price cannot be too high, and what is taxed must also be measured by the area of ​​the house occupied, if the tax is high, where else will people live.
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I’m talking about the potential unrealized taxes here that might force sales.
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It's a gamble. Prices are already high, but if you think they are going higher then go ahead and buy again. Just like Bitcoin!
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  1. this will never happen, it’s so ludicrous
  2. even if it did, so what? We have Bitcoin, we’ve tried to educate as many people as possible, but in the end, people are responsible for themselves.
  3. something like this could be the spark for states seceding from the union…which is exactly what we need
Even if Kamala “wins” the election, freedom is going to prevail. I am just enjoying the entertainment.
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