The WSJ (MSN bootleg here) had a recent story about different Democrat plans to tax wealth:
Democrats’ Emerging Tax Idea: Look Beyond Income, Target Wealth
Lawmakers and 2020 candidates offer a range of options focused on capturing some of the trillions of dollars in assets belonging to the nation’s richest
The gist seems to be to go after unrealized capital gains:
At the end of 2017, U.S. households had $3.8 trillion in unrealized gains in stocks and investment funds, plus more in real estate, private businesses and artwork, according to the Economic Innovation Group, a nonprofit focused on bringing investment to low-income areas. Most of the value of estates over $100 million consists of unrealized gains, said a 2013 Federal Reserve study. Much has never been touched by individual income taxes and may never be.
Democrats are eager to tap that mountain of wealth to finance priorities such as expanding health-insurance coverage, combating climate change and aiding low-income households. Their ideas range from new rules on inherited assets, to a plan by Sen. Ron Wyden for annual taxes on unrealized gains, to a proposal from Sen. Elizabeth Warren’s to tax wealth itself. These come atop more conventional proposals to raise income taxes and expand estate taxes.
Ahh, well! I was talking this up myself last January.
In brief, above a high net worth threshold (eg, $50MM) impose mark-to-market accounting to end the eternal deferral of unrealized capital gains taxes. But to avoid forced sales to pay the tax bill (and to create a buffer account against possible future losses) allow deferred payment of the taxes over ten years. The deferral is similar in spirit to the estate tax rule allowing a fourteen year deferral when the main estate asset is a business but a ten year period falls within the CBO budget assessment rules.
Public securities are easily valued. Real estate and private companies (eg, Koch Industries and many tech start-ups) are routinely valued by lenders and other marker professionals. Art collections are routinely assessed by insurers or other experts. Maybe re-assessment for tax purposes are bi-annually or even less frequent, just for simplicity, but these problems are easily solved (and especially easily for me, since I'm just typing and hand-waving in my PJs.)
Sen. Ron Wyden (D) is ranking member on the Senate Finance Committee and is working on his ideas.
A similar idea was described in a 2015 paper by David Miller.
Their greed for other people's money is off the charts. They should all be horsewhipped.
Posted by: Captain Hate | August 30, 2019 at 05:57 PM
Think of all those 401k's out there they could raid if only the had the right premise to do so.
I read somewhere about disparities in 401k participation and assets by race.
Therefore, they must be racist.
Premise supplied.
They could throw in that's for the children if they need a twofer.
Posted by: bubarooni | August 30, 2019 at 06:15 PM
I agree Cpt. I worked very hard from the time I could walk. Took me decades to get out of debt, Fuck them.
Posted by: Jane | August 30, 2019 at 06:15 PM
When they figure out how to break the Kennedy trust in Tahiti and Teresa's Heinz bonanza let me know. Most likely they'll try to tax mom and dad's unrealized gains on their home, disregarding the years held and inflation.
Posted by: clarice | August 30, 2019 at 06:15 PM
Clarice,
Re: flynn's Brady request. There needs to be a law that if the Feds are determined to violating it, they go to jail for a very long time.
There are never any consequences for Fed employees. That needs to change NOW!
Posted by: Jane | August 30, 2019 at 06:18 PM
Clarice @ 6:15: this
Posted by: peter | August 30, 2019 at 06:19 PM
First of all, who named this hurricane "Dorian"? And whose job is it?
Posted by: Jane | August 30, 2019 at 06:21 PM
I read somewhere about disparities in 401k participation and assets by race.
That used to be the case by a wide margin but recently I read the difference is negligible to nonexistent. I used to do work on the third rate electric utility's employee savings plan and took fiduciary responsibilities more seriously than a lot of the numbnuts who wanted everything in company stock.
Posted by: Captain Hate | August 30, 2019 at 06:22 PM
Most likely they'll try to tax mom and dad's unrealized gains on their home, disregarding the years held and inflation.
Those aren't totally unrealized. The county reappraises property on a schedule so the dogshit public schools get their cut of something not in the owner's pockets.
Posted by: Captain Hate | August 30, 2019 at 06:26 PM
CH-
Usually it's the Park District that gets the biggest, unmentioned slice.
Posted by: Melinda | August 30, 2019 at 06:40 PM
Jane, you buy a big enough generator, you can run your AC.
The littles ones people keep in their garages and roll out aren't what we're talking about here. We be talking about the big old eight foot by three foot by three foot things they put next to your house, that run for thirty minutes every month, and technicians come out to service.
Posted by: anonamom | August 30, 2019 at 06:46 PM
Jim, nuts as an ad lib snack can be a big source of carbs. Measure out the portion the can gives you the carb count for--usually 1/4 c--and see how few that is, then figure out how many carbs you've been eating.
You've likely explained your "plateau" right there.
Go with the celery and cream cheese. ;-)
Posted by: anonamom | August 30, 2019 at 06:47 PM
CH, your fellow fiduciaries thought putting all their eggs in the same basket made sense? Working with them must have been a real challenge.
Posted by: anonamom | August 30, 2019 at 06:50 PM
Yulianna Avdeeva, Chopin Fantasy in F minor Op 49
https://www.youtube.com/watch?v=SpxjV-bBeFA
This one is more challenging than the usual Chopin, but it still is Chopin. I hear portions a bit differently than Avdeeva, but I understand her choices and she executes them brilliantly.
I you don't understand piano dampers, the video may help. :)
Posted by: DrJ | August 30, 2019 at 06:53 PM
DrJ:
Love your music choices
Thank you.
Posted by: D | August 30, 2019 at 06:56 PM
RIP Valerie Harper
Posted by: Melinda | August 30, 2019 at 06:59 PM
amom,
There was another kindred soul who helped me harp on Top Men to do the right thing.
If those greedy dipshits want to turn a lib into a MAGA spitfire, try to lay their hands on Mrs H's IRA. She's as proud of that as she is the children and won't allow anything to come between it and her.
Btw 44th anniversary today.
Posted by: Captain Hate | August 30, 2019 at 06:59 PM
Happy Anniversary, CH!
Posted by: Melinda | August 30, 2019 at 07:00 PM
"Jane, you buy a big enough generator, you can run your AC."
My BIL sells and services Generac's in the Ft Wayne area. He's an electrical contractor, mainly for new housing which is hot right now in NE Indiana.
I think the generator business is hot too though and they sell a ton of them.
Where I work we have two giant Generac's to power a couple of our buildings in outages. These are V8 engines running on Nat Gas. They 'exercise' every Wednesday morning and all I can say is I wish I had a car that sounded like that.
Closest parallel I can think of is a Roush Mustang.
Posted by: bubarooni | August 30, 2019 at 07:03 PM
But what is the cost? Would it be cheaper to fly up north?
Posted by: Jane | August 30, 2019 at 07:07 PM
Happy Anniversary, CH!
Posted by: Threadkiller | August 30, 2019 at 07:08 PM
Heading out for a big dinner, CH?? Champagne??
August is a lucky month for strong unions in our family.
We have my aunt and uncle, 1946, then my husband and myself, 1976, cousin and his wife 1980, another cousin and her spouse, 1983, and another, 1987. All still going strong.
My nephew and his wife came onboard three years ago, and my cousin's son and his bride, two years ago.
Posted by: anonamom | August 30, 2019 at 07:11 PM
Jane, come on up. It's going down to 45 tonight. I caved this afternoon about 4:30 and turned the furnace on.
Posted by: anonamom | August 30, 2019 at 07:12 PM
Happy Anniversary Mr and Mrs. Hate.
Posted by: D | August 30, 2019 at 07:14 PM
Thanks guys. Nope, amom, our big excitement was the Geauga County Fair. Senior day!
Posted by: Captain Hate | August 30, 2019 at 07:15 PM
The Geauga County fair is cool!
Maple Syrup Festival in Burton is also fun.
Posted by: D | August 30, 2019 at 07:17 PM
Happy Anniversary CH.
Posted by: Buckeye | August 30, 2019 at 07:18 PM
Happy Anniversary CH!
Posted by: bubarooni | August 30, 2019 at 07:19 PM
For those not from here, it is located on the Far East side in a more rural area where 4H is big and there is small town ,
country feel to the area.One of my former top students at an East side school used to show her pigs at the fair.
Posted by: D | August 30, 2019 at 07:20 PM
It is also somewhat south of Cleveland.
Posted by: D | August 30, 2019 at 07:23 PM
Happy anniversary captain
Posted by: Narciso | August 30, 2019 at 07:28 PM
Not really south, maryrose; it's pretty much straight east on 87. It's the oldest continually running county fair in the state and all the barns are kept as clean as possible with farm animals. There are always some friendly animal breeders to talk with; today it was a woman raising angora bunnies. Geauga county is pretty much MAGA territory.
Posted by: Captain Hate | August 30, 2019 at 07:32 PM
Bubarooni, building I work in has a big one too. Size of half a locomotive.
Posted by: Another Bob | August 30, 2019 at 07:34 PM
clarice,
That filing by Sidney Powell you linked earlier probably made Andrew Weissmann's balls shrivel.
Posted by: Captain Hate | August 30, 2019 at 07:40 PM
Happy anniversary to CH and the long suffering Mrs CH.
Keto freaks
There's a new lo carb ice cream line out that is fabulous. (I thought I'd have to make all my own desserts until now). The brand is Enlightened., I just had their chocolate and it is great. Sweetened with erythirol, my favve sugar substitute.
Look for it. (Their website lists which chains carry it.) In the old days of Atkins, your choices were between meh and horrible. Now that there's a bigger market for low carb foods, you have a much bigger selection and a better one,.
Posted by: clarice | August 30, 2019 at 07:40 PM
erythritol,that is.
Posted by: clarice | August 30, 2019 at 07:41 PM
CH., I hope so. And she tailored it precisely to the not terribley smart Judge Sullivan.
Posted by: clarice | August 30, 2019 at 07:41 PM
Happy anniversary to the Hates!
Posted by: Porchlight | August 30, 2019 at 07:42 PM
Around the same time as the events of "Chariots of Fire", the Democrats were holding their 1924 Democratic National Convention in NYC. 103 ballots to pick a losing candidate.
The KKK marched on the convention floor fully hooded for the “Klanbake”.
Posted by: Neo | August 30, 2019 at 07:47 PM
The ig fimdimgs seem odd:
https://theconservativetreehouse.com/2019/08/29/hubris-as-a-strategy/?fbclid=IwAR1RsvZ1GIRytQP2VOETOpZB1FvWnHe9c5ZLQGHYqtXtLPE_og3UaxncNlQ
Posted by: Narciso | August 30, 2019 at 07:47 PM
I agree, clarice; even that numbskull might finally connect the dots.
Posted by: Captain Hate | August 30, 2019 at 07:49 PM
Johm davis the nominee was a white shoe lawyet, (the founder of davis polk) amd had beem wilsoms ambassador to the uk, thirty years later he was om thr other side of the browm decisiom.
Posted by: Narciso | August 30, 2019 at 07:50 PM
CH,
Many congrts for the universsary. I am off to bed. talked to Frederick. He is in his new Dorm room. Looks good. Damn, I miss my son but I know he is in a better place considering the schools here.
Posted by: Jim Eagle | August 30, 2019 at 08:07 PM
...,Anniversey, of course...my apologies.....
Posted by: Jim Eagle | August 30, 2019 at 08:10 PM
Captain Hate,
Happy Anniversary! I met you and Mrs. Hate years ago, I think maybe at the airport.
I remember sitting across from you guys, but am not sure where it was! (senioritis - ha!)
Posted by: MissMarple2 | August 30, 2019 at 08:13 PM
Donald J. TrumpVerified account @realDonaldTrump · 36m36 minutes ago
Just arrived at Camp David!
Posted by: MissMarple2 | August 30, 2019 at 08:15 PM
Enlightened. I need to remember!
Happy Anniversary Cpt Hare.
Just got off the phone with Italica’s seller. How fun. That is one historic boat. So glad i’ve Been on it.
Would someone please tell that hurricane to go away !
Posted by: Jane | August 30, 2019 at 08:15 PM
Donald J. TrumpVerified account @realDonaldTrump · 23m23 minutes ago
“They could have charged Comey with theft of government documents, 641 of the Criminal Code, because the IG found these were not his personal documents, these were government documents.” @GreggJarrett “Comey’s claim that these were just his own personal recollections would not..
....pass the laugh test, and the Inspector General just knocked that down.” @ByronYork @LouDobbs
Posted by: MissMarple2 | August 30, 2019 at 08:19 PM
https://www.foxnews.com/us/kate-steinle-jose-inez-garcia-zarate-california-appeals-court
Headline:
California appeals court overturns sole conviction in Kate Steinle death
Posted by: MissMarple2 | August 30, 2019 at 08:26 PM
Happy Anniversary, CH!
Posted by: Momto2 | August 30, 2019 at 08:29 PM
https://www.foxnews.com/politics/trump-says-personal-assistant-was-drinking-when-she-made-hurtful-comments
Posted by: MissMarple2 | August 30, 2019 at 08:29 PM
" it is located on the Far East side in a more rural area where 4H is big and there is small town , country feel to the area."
Yeah, that's pretty much where I live.
4-H Fair is awesome!
FFA is pretty big around here too.
Posted by: bubarooni | August 30, 2019 at 08:31 PM
Valerie Harper RIP
Posted by: clarice | August 30, 2019 at 08:32 PM
Between the Jim Jordan video and the Greg Jarrett quote Trump seems to be embracing The Ledge.
Posted by: Threadkiller | August 30, 2019 at 08:33 PM
Thanks all.
Miss Marple,
I think it was either Bob Evans or Denny's. It was right off the interstate 70(?) as we were coming back from Amarillo.
Posted by: Captain Hate | August 30, 2019 at 08:36 PM
recipe keto cinnamon rolls--you can do this:https://www.delish.com/cooking/nutrition/a28541252/keto-cinnamon-rolls-recipe/
because one cannot live each morning on bacon and eggs.
Posted by: clarice | August 30, 2019 at 08:37 PM
Clarice, thanks for the Enlightened post. It's at the fancy grocery store less than half a mile from home. I'll be heading that way tomorrow.
Posted by: hoyden | August 30, 2019 at 08:40 PM
Captain Hate,
That makes sense. I think I met daddy at the airport and Shapiro's so many times I have those two locations burned in my brain.
I do remember Mrs. Hate was very nice and patient with us.
Posted by: MissMarple2 | August 30, 2019 at 08:41 PM
https://www.sunnyskyz.com/good-news/3447/Retiring-FBI-Agent-Has-Surprise-Reunion-With-Kidnapped-Baby-He-Rescued-As-A-Rookie#.XWm2M98mIX8.twitter
Really nice story. There are some good FBI agents!
Posted by: MissMarple2 | August 30, 2019 at 08:42 PM
Another stupid decisoin on the Kate Heinle murder in SanFranciso.
Really, we have a black robed problem in America. Especially out west; We ned to reocnsider their constituional place in our America.
Good Night
Posted by: Jim Eagle | August 30, 2019 at 08:46 PM
That Flynn filing was pure dynamite.
Posted by: Ignatz Ratzkiwatzki | August 30, 2019 at 08:46 PM
You know why you lose weight on keto?
You have to make all your own food.
Posted by: Ignatz Ratzkiwatzki | August 30, 2019 at 08:48 PM
Quite a few here are familiar with the DC area. What do you make of the Conspiracy theory from Reddit concerning Omar, her lover, his wife and a random redhead stabbed to death by an Ethiopian MK Ultra style? https://youtu.be/QOWvDb8la_s
Posted by: Pinandpuller | August 30, 2019 at 08:50 PM
I do remember Mrs. Hate was very nice and patient with us.
Considering that I was driving back from seeing two of her friends in an art exhibit in Amarillo where I had some weird cardiac event (something strange happened that woke me up in the middle of the night and I couldn't calm down. My cardiologist told me it wasn't a heart attack and I sustained no damage but it was *something* that ultimately caused a blip on the EKG) it was a small sacrifice.
Posted by: Captain Hate | August 30, 2019 at 08:50 PM
No, that a crimimal decision, nearly as much as the precipitating act
Posted by: Narciso | August 30, 2019 at 08:51 PM
I agree, Iggy; court filings are usually insomnia cures but that was hammer time.
Posted by: Captain Hate | August 30, 2019 at 08:52 PM
That Steinle case is what produces vigilantes.
The 9th circuit won't even give her family its day in civil court even though the San Fran commies turned the guy out on the street knowing the Feds wanted him.
Sickening.
A state that sides with the criminals against its citizens, but fails to disarm the citizens it is duty bound to protect deserves exactly what will happen.
Posted by: Ignatz Ratzkiwatzki | August 30, 2019 at 08:54 PM
The reason Barr and Wray don’t want to charge Comey is they don’t want to get charged when they leave office. It’s similar to when Caesar wanted to remain consul, so his enemies couldn’t prosecute him.
Posted by: Pinandpuller | August 30, 2019 at 08:56 PM
Captain Hate,
Before they put me on blood pressure medicine I used to have heart races, which sounds similar.
I hated those things. When they stopped, I would be tired like I had run a long foot race!
Posted by: MissMarple2 | August 30, 2019 at 08:57 PM
well, Iggy there's something to that .The commercial keto things I bought tend to be yucky,
Posted by: clarice | August 30, 2019 at 08:58 PM
Steinle’s killer will be beaten to death by seals with no witnesses.
It’s like when the star of Miranda v Arizona ended up stabbed to death in a cantina not long after his victory.
Posted by: Pinandpuller | August 30, 2019 at 08:59 PM
Nation Begs Jesus To Return Before Democrats' 7-Hour Town Hall On Climate Change
Posted by: Ignatz Ratzkiwatzki | August 30, 2019 at 08:59 PM
Yeah, that's pretty much where I live.
4-H Fair is awesome!
Last year I was in the sheep barn and started talking with a woman about her animals. Turned out her husband had had a stroke during the past year and everything on the farm fell on her shoulders which, she told me in a matter of fact fashion, she sucked it up and did it.
I felt like I'd met a character from a really good short story.
Posted by: Captain Hate | August 30, 2019 at 08:59 PM
Wasnt he subsequently charged for another crime or waa thar esconedo
Posted by: Narciso | August 30, 2019 at 09:01 PM
Yeah, when did this become a thing?
Ah, Crap: The Guy Walking Into Church Ahead Of You Is Holding The Door Even Though You're Still 50 Yards Away And Now You Have To Run
What used to be a close-in courtesy is now a stupid obligation so long as you're in someone's line of sight.
I have begun rebelling.
Posted by: Ignatz Ratzkiwatzki | August 30, 2019 at 09:04 PM
Jane
Dorian is the second mode in music theory. Whole step Half step Whole step Whole step Whole step Half step Whole step.
Posted by: Pinandpuller | August 30, 2019 at 09:08 PM
Sydney Powell drops sledgehammer of truth on DC court:
https://theconservativetreehouse.com/2019/08/30/thunderstruck-flynn-attorney-sidney-powell-drops-atomic-sledgehammer-of-truth-on-dc-court/
We need this woman--she fights!
Posted by: anonamom | August 30, 2019 at 09:09 PM
It is curious pin, i hadnt made the connection,
Posted by: Narciso | August 30, 2019 at 09:09 PM
https://www.foxnews.com/politics/hurricane-dorian-storm-trump-fema
The democrats are already using the hurricane to attack Trump politically.
Posted by: MissMarple2 | August 30, 2019 at 09:11 PM
I owe James Comey an apology and deeply regret calling him a snake and hurting his feelings.
Floridians please stay safe.
Posted by: Rocco | August 30, 2019 at 09:12 PM
Pin,
So who is in charge of picking the namws🚕?
Posted by: Jane | August 30, 2019 at 09:15 PM
NAMES
Amom, read her book.
Posted by: Jane | August 30, 2019 at 09:16 PM
It might be NOAA.
Posted by: Pinandpuller | August 30, 2019 at 09:22 PM
I'm not a big CTH fan but whoever in the comments who linked Greg Jarret interviewing Sidney Powell on the Lou Dobbs show performed a very beneficial act. She is, as usual, an unflappably relentless bulldog for the truth and Flynn is in very capable hands, finally.
Posted by: Captain Hate | August 30, 2019 at 09:25 PM
https://thehill.com/homenews/administration/459495-trump-defends-tweeting-sensitive-photo-of-iran-launch-site
Notice how the dems are SO concerned about sensitive information now, although they didn't give a hoot about it earlier when they could use it for heir benefit.
And down at the bottom of the article, after they have carried on about it, they say he indeed DOES have the right to declassify anything.
Posted by: MissMarple2 | August 30, 2019 at 09:26 PM
The first complaint was that all Tropical Storm names were women’s, and it wasn’t fair to associate death and destruction only to Daughter’s of Eve. So then the next complaint was that all the names were White and they needed to let the Blacks get in on it. So how ethnic can they go before it’s too far? Hurricane Mohammed is unthinkable. Hurricane Noah is derivative and overselling the destructive power of one hurricane.
Posted by: Pinandpuller | August 30, 2019 at 09:27 PM
NHC has issued a special statement and has upgraded Dorian to Category 4, with winds of 130 MPH.
Posted by: MissMarple2 | August 30, 2019 at 09:32 PM
Sade circa 1988 would make me double take but Omar Current Year would make me recoil in horror: https://youtu.be/4TYv2PhG89A
Posted by: Pinandpuller | August 30, 2019 at 09:38 PM
Link goes to map with various tracks.
Posted by: MissMarple2 | August 30, 2019 at 09:49 PM
CNN: 'Our Ratings Are Only Tanking Because Trump Is Killing Off Viewers By The Millions'
"If Trump weren't killing off most of America by the millions, we'd still have a pretty solid viewer base," Stelter bellowed at the three viewers watching Reliable Sources. "Airports, lobbies, waiting rooms, and gas station pumps are now playing CNN to absolutely no one, since Trump has killed them all."
Posted by: Ignatz Ratzkiwatzki | August 30, 2019 at 09:53 PM
CH, today's an anniversary but which one is it:
25. 30. 35.
Sorry if I didn't catch it earlier.
Posted by: bubarooni | August 30, 2019 at 09:53 PM
Neat video at the link.
Posted by: MissMarple2 | August 30, 2019 at 09:55 PM
So the validity of nhc's prime models vs these alternate ones, i thought the more its over lamd the more it weakens.
Posted by: Narciso | August 30, 2019 at 09:56 PM
So i guess they reduces the long play based on sanctions that are supposed to kick in on sunday, firgeting the chinese have eaten the cost what gives
Posted by: Narciso | August 30, 2019 at 09:58 PM
James R. Leavelle, detective handcuffed to Lee Harvey Oswald, dies at 99
How convenient.
He knew too much.
Posted by: Dave (in MA) | August 30, 2019 at 10:00 PM
44, bubarooni.
Posted by: Captain Hate | August 30, 2019 at 10:00 PM
CH, I'm not sure which one is coming up for me and I'm not about to go ask the one who knows.
I 'think' it'll be number 26 coming up for me.
Posted by: bubarooni | August 30, 2019 at 10:00 PM
I think Narciso's Sundance column was interesting. Basically the notion is the Susan Rice memo written in the last 15 minutes of Obama's term was to provide lawfare cover in case the coup fails.
In the memo Obama tells the coup plotters to keep the plot "by the book" ... where "by the book" applies to the situation where an opposition candidate, president elect, and/or POTUS is a secret agent of a foreign power.
In which case "by the book" is written to justify ...
Lie Spy and Try destroy the evil Trump guy.
So if a federal case is ever brought against the plotters, especially in DC, everything they did is legal right there in black and white whenever "The Book" is produced as evidence.
Well ... dunno about the theory, but it does jibe with my deep state lawfare rigged by swampers confirmation bias.
Something to consider, exposing the sedition might be more effective than failed prosecutions.
Posted by: boris | August 30, 2019 at 10:00 PM
https://www.cnbc.com/2019/08/30/companies-may-be-terrified-of-tariffs-but-consumers-clearly-arent.html
Maybe consumers know all of the reporting on tariffs is BS.
Posted by: MissMarple2 | August 30, 2019 at 10:01 PM
https://www.thegatewaypundit.com/2019/08/concerned-whistleblower-provided-all-7-of-comeys-memos-to-oig-after-comey-was-fired-who-is-the-fbi-doj-whistleblower/
Posted by: clarice | August 30, 2019 at 10:05 PM