The Scariest SCOTUS Case This Term

When have our elected officials represented our interests and not their own??? Again we rely on black robed magicians to interpret laws that should never have been passed in the first place. Five hundred and thirty five rentseekers...

I’m trying to understand how this works. If the value of your stock goes down do you get your tax back? I have a suspicion they are going to say this ‘only’ applies to very high income taxpayers, like Elon Musk, to make it more palatable to the blue hoard. But it is nothing but a money grab of evil capitalist money to save the planet from climate change by redistributing wealth. They are going to confiscate farm land next by raising the valuation of farm land in estates to the current cost of the acreage rather than the purchase cost of the acreage so the next generations will be forced to sell the land to pay the estate tax. Lawfare is everywhere.

You know that Biden and the rest of the circus clowns can't wait to get their filthy paws on more of our money so they can send it through the laundry. He has his "realized" income stashed away in secret accounts all over the world, unreported and untouchable by the IRS.

I really can't see how this made it through the lower courts but since it did, eventually we are screwed (again). If the Supremes knock it down the dims will pass a law that excludes dim politicians from this unrealized income tax and enforce it on the little people--you know, the ones who keep voting for these thieves.

There is a HUGE problem with taxing unrealized income, assessing the value. Realized income is based on money actually paid. The amount is crystal clear. Unrealized income would have to be based on some one's OPINION of the value. It would be in the government's interest to maximize assessments and thereby maximize the tax owed. Trump is in court because he maximized the value of his properties in seeking capital loans. Everyone agrees that such assessments are NOT based on real value. They are AT BEST, estimates. Further, the estimate is continually in flux. Further, if you are taxed on money not actually paid to you, where does the money to pay the tax come from? Many people would have to actually SELL their assets to pay their taxes. Here's another thought, a pension is invested money held in trust for you. Suppose $300,000 is held in a pension to pay your $30,000 a year teacher's retirement. Is it taxable? You don't have any ability to access or liquidate the $300,000 to help pay taxes on that unrealized income. You already pay taxes on the actual amount received yearly. Where would the additional money for unrealized income taxes come from. It is enormously disturbing that the lower courts ignored well established SCOTUS precedent to rule the way they did. They are exposing their liberal arrogance. Let's hope the SCOTUS takes this up and SOUNDLY rejects it (except for the 3 stooges of course).

THe scariest thing is that if the Supreme Court finds that the tax on unrealized gains is legal, Congress will have an entire new pool of money to tax and confiscate from taxpayers. Of course, they will claim (as always) only high income individuals; but anyone who owns a house, IRA, 401k, Mutual funds, stocks, CD's, real estate, or anything that has taxable value as capital gains, will now be fair game for some type of annual income tax based on alleged gains. THis will be used to funds new and more useless, non performing government funded programs that do nothing but cost money.