DiabloWags said:

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dajo9 said:

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DiabloWags said:

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Yup.

I cant even imagine how a wealth tax could be enforced.

Do we send IRS auditors over to some rich guys flat in London to "value" a painting? A vintage Ferrari in his garage? Some native American baskets? A Patek?

How would these auditors even be "qualified" to do such an evaluation?

Do they need to intern at the Smithsonian first?
Sotheby's

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When an audit is done the IRS can hire somebody from Sotheby's to help out. Not a big deal.

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Cool story.
There wont be enough people at Sotheby's to "help" out. Cool story though.

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Silly premise, almost all art work with a value in the 7 figures or above is insured. If someone wants to keep a very valuable art piece undeclared, he runs the risk of that piece being stolen, or being prosecuted as a tax dodger, as art pieces in that price range tend to be well known.

A marginal wealth tax should start on personal assets above $5-10 million at a low rate (something like 0.25% per year) and gradually increase with every decimal figure to something like 2.5% for assets above $1 billion.

calbear93 said:

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82gradDLSdad said:

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calbear93 said:

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82gradDLSdad said:

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dajo9 said:

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calbear93 said:

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concordtom said:

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DiabloWags said:

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Single family home prices in the SF Bay Area rose 22.6% in February year over year.


I think that we should all be taxed on that so that we can give more to government officials who KNOW how to spend OUR money better than we do.

That is all.

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Yes, I admit I am completely befuddled about how a wealth taxation regimen could exist if it taxes not hordes of cash in the bank but unrealized gains!

And even there, taxation upon sale has big problems! That's how it is with houses and the lack of turnover. People (like me) sit on unrealized gains because if we sell we lose a conservable amount to the triggered capital gains taxes.

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You are not the only one.

If you look at who is promoting wealth tax, they are disingenuous smart politicians and idiotic politicians and idiotic lay persons who read a theoretical article from someone who most likely got every single past prediction wrong. No one with actual real life experience or financial literacy thinks wealth tax is a good idea.

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"No one"

Sounds very moderate and reasonable

"Nearly three quarters of millionaires polled in G20 countries support higher taxes on wealth, over half think extreme wealth is a "threat to democracy""
https://www.oxfam.org/en/press-releases/nearly-three-quarters-millionaires-polled-g20-countries-support-higher-taxes-wealth

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Btw, I have a much bigger problem with CEOs and the like making tens of millions per year while their companies do nothing. My old company, AT&T, being a prime example. CEO has nothing at risk, stock has been going down for 30 years(!), and yet he makes 20 million per year. Horrible.

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Then you must love TCJA. It reformed 162(m) so that for covered persons, with CEO and CFO always being in the group, companies cannot deduct as expense any compensation to those persons above $1M. Prior to TCJA, there used to be an exception for performance-based compensation. As such, IRS gets double tax on those compensation above $1M, including with the companies when they earn money and again when paid out to the CEO.

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I guess. Since I'm still a shareholder of T I'd rather they just not pay these folks that much or pay them only when they perform...like the T-Mobile guy did.

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The market compensation is set. If they don't think he is right for the job, the better solution would be to find the right guy. Paying him below market rate will make AT&T extremely unlikely to recruit good talent. And if you think the right CEO cannot turn the company around, look at what Larry Culp who I really respect from Danaher did for GE and the clean up of balance sheet through spin offs and sales that no one thought was possible. GE is one of the best performers. I should have invested solely based on my confidence in Larry Culp but didn't. I have regrets.

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That's the problem, the compensation has been set. What a system. It's sort of like how we ended up with Biden vs Trump. It's been set.

Cal88 said:

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DiabloWags said:

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dajo9 said:

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DiabloWags said:

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Yup.

I cant even imagine how a wealth tax could be enforced.

Do we send IRS auditors over to some rich guys flat in London to "value" a painting? A vintage Ferrari in his garage? Some native American baskets? A Patek?

How would these auditors even be "qualified" to do such an evaluation?

Do they need to intern at the Smithsonian first?
Sotheby's

---

When an audit is done the IRS can hire somebody from Sotheby's to help out. Not a big deal.

---

Cool story.
There wont be enough people at Sotheby's to "help" out. Cool story though.

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Silly premise, almost all art work with a value in the 7 figures or above is insured. If someone wants to keep a very valuable art piece undeclared, he runs the risk of that piece being stolen, or being prosecuted as a tax dodger, as art pieces in that price range tend to be well known.

A marginal wealth tax should start on personal assets above $5-10 million at a low rate (something like 0.25% per year) and gradually increase with every decimal figure to something like 2.5% for assets above $1 billion.

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What if it were like a flat tax, held at 0.5%? Less than one percent could almost fly beneath the radar. (I said "almost".)

Big C said:

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Cal88 said:

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DiabloWags said:

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dajo9 said:

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DiabloWags said:

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Yup.

I cant even imagine how a wealth tax could be enforced.

Do we send IRS auditors over to some rich guys flat in London to "value" a painting? A vintage Ferrari in his garage? Some native American baskets? A Patek?

How would these auditors even be "qualified" to do such an evaluation?

Do they need to intern at the Smithsonian first?
Sotheby's

---

When an audit is done the IRS can hire somebody from Sotheby's to help out. Not a big deal.

---

Cool story.
There wont be enough people at Sotheby's to "help" out. Cool story though.

---

Silly premise, almost all art work with a value in the 7 figures or above is insured. If someone wants to keep a very valuable art piece undeclared, he runs the risk of that piece being stolen, or being prosecuted as a tax dodger, as art pieces in that price range tend to be well known.

A marginal wealth tax should start on personal assets above $5-10 million at a low rate (something like 0.25% per year) and gradually increase with every decimal figure to something like 2.5% for assets above $1 billion.

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What if it were like a flat tax, held at 0.5%? Less than one percent could almost fly beneath the radar. (I said "almost".)

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Most people in the $500k-$5M range already pay a wealth tax near that percentage range in the form of property tax.

movielover said:

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Relevant points, hence the term UniParty. It's all staged Kabuki theater.

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Florida Democrats were dancing with Republicans after a legislative session that banned abortions, attacked trans people, destroyed immigrants rights, and cut back protections for union members and tenants. pic.twitter.com/X2ztgqU9Yn

— BreakThrough News (@BTnewsroom) May 4, 2023

Stunned archaeologists probe claims of giant skeletons in Nevada caves



https://mol.im/a/13268797

As to play in Sacramento for 3-4 years. Oakland was asking $90+ Million,plus all other kinds of intrusive demands.

Yahoo article says As won't draw well in West Sac. I think they might kill it. Intimate park, baseball crazy town, it will be the place to be.

North Face Sponsors LGBT Overnight Camp For 12 Year Olds Where Children Perform In Drag
'I was able to perform, do drag, I was able to do … so many activities,' one child attendee said of his time at the camp.https://t.co/hTX7jYnPLO

— Tom Fitton (@TomFitton) April 4, 2024

The San Francisco Standard: San Francisco now towing drug dealers' cars in latest crackdown effort

P Diddy bigger than Epstein & working w FIB?

Ex-Diddy Producer Says This Scandal ‘Could Be WORSE Than Jeffrey Epstein’

Jesse Watters says, “Every room in Diddy’s mansions were wired with cameras ... And this was used for blackmail material,” citing the lawsuit filed by Rodney “Lil Rod” Jones.

“They’d bring in these… pic.twitter.com/CoV7NV7jKi

— The Vigilant Fox 🦊 (@VigilantFox) April 6, 2024

Three minutes with Douglass McGregor. What should America do?

Convicted Portland murderer given 2 years probation.

https://www.instagram.com/p/C5XOUxmtVbr/?igsh=NTc4MTIwNjQ2YQ==

Easter Sunday group retail theft in San Francisco.

Harry Sisson and his friend whatshisname get proven to be DNC shills...

movielover said:

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Convicted Portland murderer given 2 years probation.

https://www.instagram.com/p/C5XOUxmtVbr/?igsh=NTc4MTIwNjQ2YQ==

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Being a Portlander I had enough interest to do some digging / reading.

The state stipulated at trial that it could not disprove defendant's claim of self defense. There are a series of appellate arguments around statutory interpretation that will put everyone to sleep. More or less bottom line - he didn't commit murder because the state conceded his self defense claim; he's a felon illegally in possession of a firearm only.

If you are reading this post, I guess you didn't make the cut for the rapture either. Maybe next time?

Unit2Sucks said:

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If you are reading this post, I guess you didn't make the cut for the rapture either. Maybe next time?

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Are there reports of people being raptured?

bear2034 said:

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Unit2Sucks said:

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If you are reading this post, I guess you didn't make the cut for the rapture either. Maybe next time?

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Are there reports of people being raptured?

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sycasey said:

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Guessing these jamooks didn't get raptured either. I bet they would find a kinship in many of the troll threads on this board though.

If the replies to a Georgia Republican reminding people to wear safety glasses when viewing the eclipse are indicative of a larger trend, a lot of people are about to damage their eyes pic.twitter.com/wMUwBDIR4c

— Aaron Fritschner (@Fritschner) April 8, 2024

Didn't earn it.

Science Girl is great.

During a solar eclipse, the gaps between leaves on trees act as multiple pinhole cameras,

and each gap projects its own crescent-shaped image of the eclipsed sun onto the ground.

📹gottigreen
pic.twitter.com/PHLwhslMZu

— Science girl (@gunsnrosesgirl3) April 8, 2024

Unit2Sucks said:

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sycasey said:

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Guessing these jamooks didn't get raptured either. I bet they would find a kinship in many of the troll threads on this board though.

If the replies to a Georgia Republican reminding people to wear safety glasses when viewing the eclipse are indicative of a larger trend, a lot of people are about to damage their eyes pic.twitter.com/wMUwBDIR4c

— Aaron Fritschner (@Fritschner) April 8, 2024

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Bless our hearts.

God Bless America https://t.co/wpROMlF0rT

— Cody (@AltHistCody) April 8, 2024