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October 23, 2021



Time for a bit of gloating since I was calling for a tax on unrealized capital gains quite a while ago.

It's as stupid of an idea now as it was a while ago.

Jim Eagle

The Bee being more truth than satire:)



A government that abandons $85 BILLION in military equipment TO THE ENEMY and sells off two multi-billion dollar supercarriers for scrap FOR ONCE CENT A PIECE---- ships BTW, which, given the largess of the Pentagon budget, could have been refitted for further use [perhaps 20 years] as hurricane/disaster relief vessels stationed on the East & West coasts--- is a government wholly unqualified to be setting any "tax policy" given it's utter incompetence in managing our money.

Jim Eagle




I agree, too, DCSCA!


My neighbor Keith goes sround and picks up junk metal items on trash day (laen furniture, scrap siding, broken sppliances, etc.). He then breaks them doen if they can’t be repaired and sells the stuff. I havent told him about those ships as I dont want him going ballistic.


MissMarple- don't forget the fate of a multi-billion dollar warship, the USS Bonhomme Richard, which burned to destruction while DOCKED in PORT here in San Diego because of incompetence in basic fire fighting... and the government letting millions of dollars worth of steel, meant to build the border wall, sit stacked and rusting while paying off contractors for cancelling construction. These are just a few of the idiocies going on...

"Storm the castle," kids.


MissMarple- I've never gotten over those images back in '75 of US personnel shoving millions of dollars worth of helicopters off the decks of ships as Vietnam fell-- each time I see those images I think of all the small towns across the midwest in the 1970s which could have used just one of those aircraft as a 'medevac chopper' for local municipalities and hospitals-- and this was back in the day when that sort of civilian system was a relatively new concept. So much government waste-- yet they want more tax $$.

James D.

Jesus f-ing Christ, TM! Are you honestly that gullible? Do you truly believe that this “billionaire tax” will remain a billionaire tax for more than 10 minutes? Or that it will actually raise a fraction of the revenue it’s supporters claim?

Just go register as a damn Democrat already and stop pretending you’re even remotely conservative or have the slightest interest in anything other than looking cool to your communist neighbors.

Jim Eagle

Easy James D, Mark Twain already purloined him in "A Conneticut in King's Arthur's Court:)


DCSA. The helicopters eere being dumped to make room for more helicopters to land. A few were South Vietnamese helicopters.


Tax unrealized capital gains. Ignore capital losses, but reset values to tax the gains when value recovers. Gotta plunder those kulaks.

How anyone who isn’t paid commission on securities trades can be for this is a puzzle.


700 billionaires will have their ability to invest curtailed.

Gummint gonna do a better job?

Be a cold day in hell.


James D. Don't some states have something similar, where they establish the value of the stuff inside your house for tax purposes?


The original income tax was only on millionaires. (Of 1913… add some zeroes for current equivalents). Now it hits everyone.

Why expect this stupid idea to end up differently?


One of my roosters started crowing 10 seconds before my alarm went off.

Not bad for a 10,000 year old timekeeper.


James D. The pricks want to destroy wealth, and I don't just mean rich people's wealth (there is probably a better word for it).


Maybe the word I am thinking of is ownership!




Why? Gonna change their genders?


My Build Back Better Agenda means free school for every 3- and 4-year-old in America. No matter their background.


Isn’t HE(Double Hockysticks) Helium Dihockystickcide?


Anticipating a Democrat’s policy idea (or any pol’s idea on how to tax and spend even more) is nothing to gloat about.

Here’s an idea: Stop taxing cap gains altogether. Why?
1. The money used for the investment was already taxed.
2. A large chunk of “gains” is just inflation.
3. The higher income (dividends etc) that a cap gain is signaling will also be taxed.
4. The government just wastes extra revenue on useless BS.


Who’s up for a trip to Taco Beryllium Lanthanate?


Some how they always seem to forget that nearly all pension plans involve a boatload of capital gains.


I don't mean to gloat, but I told you that he was a squish a long long time ago.
But so very Gracious.


Has Maguire joined the LINCOLN PROJECT yet?


Vice President Joe Biden joined House Democrats in lashing tea party Republicans Monday, accusing them of having “acted like terrorists” in the fight over raising the nation’s debt limit, according to several sources in the room.

Biden was agreeing with a line of argument made by Rep. Mike Doyle (D-Pa.) at a two-hour, closed-door Democratic Caucus meeting.

“We have negotiated with terrorists,” an angry Doyle said, according to sources in the room. “This small group of terrorists have made it impossible to spend any money.” — POLITICO, 1-Aug-2011

Reps. Mike Doyle (D-Pa.) and David Price (D-N.C.) plan to retire at the end of their term in 2022

.. and don't let the door strike you on the arse on the way out


As opposed to the large group of terrorists who have made it impossible to earn any money?

matt - deplore me if you must

Look, the world has gone nuts and somehow we have to get through this. Lambasting each other, including TM, doesn't help.

What was the fair market value of those carrier hulks? $1? I don't know. But cutting them into pieces in the country is a hell of a lot more expensive than Bangladesh or Pakistan or even Turkey.

Where it fell down was that the USN had no fireboats in San Diego and crews weren't trained in the basics of on board firefighting, which is appalling. This is central to warfighting. Remember all of the ships that limped home to fight another day during WW II or even the Oriskany during Vietnam. More bad management.

Did the Navy do any corrective action? Are fireboats on order? FDNY sure knows the value of those boats.

As the Dems hold bigger and bigger tantrums they need to be pointed out. Money doesn't grow on trees.


we're in kakistocracy, or some new scheme that even the greeks couldn't conceive off, I blame the turtle, he empowered these jackrabbits, he hasn't punished any of the possums who voted for austin, mayorkas, et al,


of course, the dems do static analysis, such a move will cause massive selloffs, is that the point, to to get the ghirardelli's


ghilarducci's tomato, tomatoe, of the govt authorized investment account,


I'm investing in Italian style floor safes. You haven't seen anything yet --If this passes and there will be more creative ways for the very rich to avoid taxes.And lawyers to get rich showing them how to do it. Why not just tax all the very very rich endowments and pretend public interest foundations?


its funny how they avoid that particular pot of cash, isn't it,


The Black Spanish Radishes I’m growing from seed (bought on eBay) are progressing nicely.

I have them segregated in their own quarter so they don’t open the garden gates to the Muslim hordes when I’m not paying attention.


One thing I’ll never understand is people who hate radishes, irrationally, for no reason whatsoever.


fruit of the possums



hates kind of a strong word, largely indifferent,


Matt, how does pointing out what a fraud Maguire is, hurt us?

Dave (in MA)
    I was calling for a tax on unrealized capital gains
Ignatz Ratzkiwatzki

If a person, billionaire for now, but as henry points out, everyone else later, owes taxes on a gain which may or not exist at some future point, isn't that person entitled to a massive tax rebate when the government created bubble pops and they have massive unrealized capital losses?
We're taxed on realized capital gains but are also entitled to claim realized capital losses and even to carry them over, so it's only fair that if a person can be taxed on some gain they may never actually benefit from that they receive a credit for similar losses.
Try funding your government then, ya morons.


his lips are moving


Dave (in MA)






speaking of lips moving,



Davod -to quote Dick Cheney- "So?"

They didnt' pay for those choppers- American taxpayers did.

We'd left SV years years earlier, too. Nobody told them to cut and run. This time, we just abandoned them to the Taliban.


Not to taxpayers: a "vaccine" that requires “boosters” every 120 days lacks efficacy. It is not a “vaccine.” It’s a gimmick. Sucker bait. And a Big Pharma $$$$ maker.


it's like required minimum distribution, the govt forces one to withdraw from your saving accounts, and then taxes you on it, counting that as income,


if he was a russian agent, would he have done anything differently,



As one of my Twitter friends says,"Savage Trump is the best Trump."

Here he goes after Meghan McCain, her father, The View, and other ne'er-do-wells:


Ignatz Ratzkiwatzki

I wonder if TM has ever sat down with a copy of the Constitution and a copy of the budget of the Federal government and then tried to reconcile them.
Because anyone who is even slightly sane very quickly realizes the government is vastly bigger than it has any right to be.
How about finding a few trillion to cut so we don't have to worry about the upper .00002%?
They would have a tiny fraction of the wealth they have if the Federal Reserve did not now function as a drug dealer for the addicts in DC and the oligarchs they have made common cause against the nation with.


like the sorcerer's apprentice, everything backfires, unless we assume chaos is the goal

1) collect rent derived income, through reduction in deductability of interest, consequence collapse real estate dependent bank portfolios

objective expand home ownership, expand eligibility, consequence interest sensitive mortgages fill bank portfolios (wait hadn't we done this before)


Look at all your bills. We're getting nickel and dimed with "taxes and fees" on everything.


This government doesn't need another cent from us. Stop buying $15 billion aircraft carriers that cost $4 billion-plus a year to operate and can be sunk by a couple of $2 million Exocet missiles.


DCSCA. I can only imagine you are being comical
with this "We'd left SV years years earlier, too. Nobody told them to cut and run."


What is it about Trump that makes shitlibs want to shoot innocent women?


but of course,



Davod- Dead serious. They didn't fight for their own country after billions in aid for a decade abd 58,000 dead Americans -- they just stripped off their uniforms, ran away and flew away- uniforms WE paid for and in aircraft WE paid for.

Sound familiar? See the Afghans for details. A helluva lot of small towns and municipalities across America could have used those choppers dumped into the sea back in 1975. But no. Be a poor planner and a lousy management and you're guaranteed a government job-- one you can never be fired from-- unless you're never confirmed in the gig, which is exctly what Trump did where he could.


'What is it about Trump that makes shitlibs want to shoot innocent women?'

P&P Isn't ugly a crime in the Land of Oz? Let's ask Joy Behar. ;-)


they shot a young black woman, in a cul de sac and the capitol police got medals, this is why the police squad antics of mike 'dornberg' byrd get short shrift by hbo,


nordberg, remember when we thought oj was mostly harmless, pepperidge farm remembers



Parody lyrics by that guy who does the dead-on Trump impersonation. About 1 minute.



Contains both audio and text.





Good night, all!


Reminder--there is an alternative to supporting the leftist economic idiocracy that gets posted here.



Time for a bit of gloating since I was calling for a tax on unrealized capital gains quite a while ago.

I've had some stupid ideas in my time, but I don't go around crowing about them.

As many times as TM has posted about this, he's never addressed the Constitutional question. I'll once more repeat my previous comment:

TM: Mark-to-market accounting is already part of the tax code (eg, futures and index options, not to mention the charitable deduction for appreciated assets with a long term gain.) This idea side-steps the Constitutional puzzle of Warren's wealth tax.

I'm not so sure the Constitutional puzzle is side stepped. Though it's nearly 100 years old, as far as I can tell, Eisner v. Macomber is still good law. In it, the court says regarding what is and isn't 16th-Amendment "income":

For the present purpose we require only a clear definition of the term "income," as used in common speech, in order to determine its meaning in the Amendment; and, having formed also a correct judgment as to the nature of a stock dividend, we shall find it easy to decide the matter at issue.

After examining dictionaries in common use (Bouv. L.D.; Standard Dict.; Webster's Internat. Dict.; Century Dict.), we find little to add to the succinct definition adopted in two cases arising under the Corporation Tax Act of 1909 (Stratton's Independence v. Howbert, 231 U.S. 399, 415; Doyle v. Mitchell Bros. Co., 247 U.S. 179, 185) — "Income may be defined as the gain derived from capital, from labor, or from both combined," provided it be understood to include profit gained through a sale or conversion of capital assets, to which it was applied in the Doyle Case (pp. 183, 185).

The Government, although basing its argument upon the definition as quoted, placed chief emphasis upon the word "gain," which was extended to include a variety of meanings; while the significance of the next three words was either overlooked or misconceived. "Derived — from — capital;" — "the gain — derived — from — capital," etc. Here we have the essential matter: not a gain accruing to capital, not a growth or increment of value in the investment; but a gain, a profit, something of exchangeable value proceeding from the property, severed from the capital however invested or employed, and coming in, being "derived," that is, received or drawn by the recipient (the taxpayer) for his separate use, benefit and disposal; — that is income derived from property. Nothing else answers the description.

Unless there's some wrinkle I'm not aware of, the supposed exception for the taxing on charitable deductions of appreciated assets seems to me to have nothing to do with to mark-to-market taxes on held assets. Taxing depends on the fair market value of the asset at the point it's transferred to the charity.

The claimed exception for futures contacts is somewhat closer. However the taxing is based on a specific and special aspect of future-contract accounting. Quoting a decision by the 9th Circuit court:

Section 1256 [the tax section dealing with future contracts] is premised on the doctrine of constructive receipt because the taxpayer who trades futures contracts receives profits as matter of right daily. Id. at 157, 1981 U.S.C.C.A.N. at 256. Under this doctrine, "[i]ncome although not actually reduced to a taxpayer's possession is constructively received by him in the taxable year during which it is ... made available so that he may draw upon it at any time...." Treas.Reg. § 1.451-2(a) (as amended in 1979).
. . .
Because of the unique accounting method governing futures contracts, the gains inherent in them are properly treated as constructively received.

The increase in a future contract's value is somewhat equivalent to dividends that are paid daily into the owner's account. They are immediately available for cash withdrawal. The gains (and losses) on future contracts are essentially realized daily.


I wonder if anyone has calculated how much time Biden actually spent visiting hurricane and flood regions. I'll bet it isn't much.


Horror: Taliban behead national girls' team volleyball player -- and post photos online



They say that when you go to work for a bank they don’t show you what fake or counterfeit bills look like. They show you genuine currency until you know it in your sleep.

Seems to me that’s one of the big problems with Hollywood gun wranglers and actors. Most don’t know the real deal.

“I think loading blanks was the scariest thing to me because I was like ‘oh, I don’t know anything about it,’” she said. However, she added that her veteran father, helped to train her.”—Hannah Gutierrez-Reed, 24

Did he?


First ACE Saturday night joke:

he Saturday Night Joke

An 85-year-old man was requested by his Doctor for a sperm count as part of his physical exam.
The doctor gave the man a jar and said, ‘Take this jar home and bring back a semen sample tomorrow.’
The next day the 85-year-old man reappeared at the doctor’s office and gave him the jar, which was as clean and empty as on the previous day.
The doctor asked what happened and the man explained, ‘Well, doc, it’s like this — first I tried with my right hand, but nothing. Then I tried with my left hand, but still nothing.
‘Then I asked my wife for help. She tried with her right hand, then with her left, still nothing She tried with her mouth, first with the teeth in, then with her teeth out, still nothing.
‘We even called up Arleen, the lady next door and she tried too, first with both hands, then an armpit, and she even tried squeezin’ it between her knees, but still nothing..’
The doctor was shocked!
‘You asked your neighbour?’
The old man replied,
‘Yep, none of us could get the jar open.’


Second ACE Saturday night joke:

A man hates his wife’s cat with a passion and decides to get rid of it once and for all. He drives twenty blocks away from home and drops the cat there.
The cat is already walking up the driveway as the man approaches his house.

The next day, he decides to drop the cat forty blocks away, but the same thing happens.

He keeps on increasing the number of blocks, but the cat keeps on coming home before him.

At last he decides to drive a few miles away, turn right, then left, past the bridge, then right again, and another right and so on until he reaches what he thinks is a perfect spot and drops the cat there.

Hours later, the man calls his wife at home and asks her, “Jen, is the cat there?”
“Yes, why do you ask?” answers the wife.

Frustrated, the man says, “Put that cat on the phone. I’m lost and I need directions!”


Anybody bought or sold any Afghan War Bonds lately?

Or Gulf War Bonds?


Now I wish I didn’t know about Fauci’s dogs, except to make a few mental notes for the post revolution salutations.


Weight lifting at EU soccer matches:

A young football fan in Holland went viral over the weekend after he was caught carrying 48 beers in one go at his side's top-flight clash on Sunday.

FC Twente supporter Christiaan Roetgering, 23, was captured holding five full cartons of beer stacked one on top of the other for him and his friends, much to the delight of the onlooking fans.

The football fan delightedly revealed he did not spill any of the beers on his way back to his mates, but did admit that Saturday's achievement was not a record for the most beers carried at an FC Twente match.


Never forget the best joke around:

‘If you have a problem figuring out whether you’re for me or Trump, then you ain’t black.’- Joe Biden, POTUS

“I mean, you’ve got the first sort of mainstream African-American who is articulate and bright and clean and a nice-looking guy. I mean, that’s a story-book, man!” – Joe Biden, POTUS

““You cannot go to a 7-Eleven or a Dunkin’ Donuts unless you have a slight Indian accent. I’m not joking! ” – Joe Biden, POTUS


P&P- Just be grateful they weren't doing a remake of Dr. Strangelove.

'Is this nuke live?'

Stephanie Nene Not Your Normal Granma

Woot! Way to go Braves!


Hannibal Barca committed suicide rather than face capture by his enemies.

The only way that would happen here is if our generals had a fatal allergic reaction to eye shadow.


As Ig and Henry have pointed out......TAXING those who have the money NOW, or even if they are taxed on UNRECOGNIZED nor REAL CAPITAL GAINS, makes COMMIES HAPPY, and if this is the best that DEMOCOMMIES have to offer vis a vis BRAIN POWER, the QUESTION SHOULD BE. Who creates and provides the jobs, who has an environment where investment in a company provides a GROWTH FOR RETIREMENT FUNDS and GOOOOOOONION GROWTH.
This is where a FATHER comes in. Son, the short cuts you choose to take, will not make ANYONE RICH.


This is farce. Bye.


That’s exactly what I’d expect a Commie saboteur to say:

“Bill, I don’t dispute your facts,” said Mr. Roosevelt. “They are accurate. I don’t dispute the logic of your reasoning. I just have a hunch that Stalin is not that kind of man. Harry (Hopkins) says he’s not, and that he doesn’t want anything but security for his county. And I think that if I give him everything that that I can and ask nothing from him in return, noblesse oblige, he won’t try to annex anything and will work with me for a world of peace and democracy.”—Life, June 30, 1949


In the language of the Jong Wen, Alexander the Macedon’s name is Li Jian.



I bet Joe spent some time in the Hur Xi corridor.


This is an excellent Doc, you could call it China and Rome: 1,000 years together https://youtu.be/CO3senO4JZ0

Jack Lillywhite

Good morning from Florida where I am outside by the pool with the Beagles enjoying a nice cooling breeze of the ocean.

Carpe Diem!


Good morning. Nice frost here, to be followed by rain.


Good morning, JOM:https://www.americanthinker.com/articles/2021/10/the_teachers_unions_fumbled_play.html


Good Pieces, Clarice. A welcome part of my Sunday mornings.

Old Lurker

Why does our government need any more of our personal productivity (current) or our accumulated wealth (prior productivity)?

Is not what they take now destructive to our Republic already?

Dark Age A'coming.



My maternal grandparents, both public schoolteachers, were adamantly opposed to unionizing. They insisted it would be the downfall of the school systems.

They were right.


Dave Winer blogs:

Facebook is at least eight things

Here's the list. #
Mark Zuckerberg. #
A public corporation.#
60K employees. #
Servers, software, other tech.#
An advertising platform.#
A user community.#
Connections to the rest of the web.#
All the content -- video, images, posts, comments, live events, current and past.#

When journalism refers to "Facebook" I don't think they're ever clear on which Facebook they're talking about.#

Each of the different Facebooks are limited by the others. #

But if you are aware of all the different things "Facebook" is, their stories are usually mush. #


TM, you are looking at the wrong part of the elephant.

If government needs to Hoover up even more money it has overstepped its function.


My daughter went to pick up a grocery order at Walmart (whom I never use) this morning and they had no Diet Coke.

Maybe NOW she will believe me about the supply chain mess, which she didn't realize is still a thing.


Steal in progress.


BREAKING: @vademocrats sue U.S. Postal Service over its failure to process and deliver election-related mail in a timely manner, potentially leading to the disenfranchisement of Virginia voters.

Proud that @EliasLawGroup is part of this fight.


TM, how does one "take a deduction" for a paper loss during a succeeding year in which one does not earn income?

A "loss carry forward" doesn’t pay back the money that the government took in taxes for previous paper gains.


Anyone still getting "news" from CNN is completely brainwashed:

A Twitter poster asks if getting the jab means you are now immortal.


Catturd ™
There it is ... #1 trend in the USA ... #ArrestFauci


Excellent Clarice!

Why the hell aren’t you coming to Fl for the meet-up?

Old Lurker

SBW, using logic to argue with anybody about who owns the product of individual labor is as unproductive as arguing about abortions with the same sort of people.


That TM has been immune to this particular POV of his every time it comes up has been the best "tell" to me about what he really thinks about people like us.


well it's a light rinse,

when the revolution comes, well see dr. zhivago, my family had a small plot of land, in a small town, the regime not only confiscated it, but then flooded it, my father's had a small furniture store, Fidel was trying to implement the 1940 constitution, which was of course physically impossible,

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