Let me be clear. If Kamala Harris somehow forces a 25% unrealized capital gains tax, the flight of capital out and subsequent collapse of the US markets would be absolutely breathtaking. And the ultimate result would be far lower tax revenues than we have right now.
Discussion
We both know it’s a non-starter.
Where would you all go? This side of the pond will do as the WH tells it. We could all run to Russia because we all won't fit in El Salvador
I believe he meant non-starter as in:
there are still enough adults in the room, even in a Harris administration, that realize unrealized cap gains is equivalent to economic seppuku, complete with scorched earth, so radioactive that the regime would collapse, before any sort of illusion of property rights could be re-established.
I sort of knew, but thank you
Prison for not paying their taxes lol
Keynesians in power 🤦🏻🤦🏻🤦🏻👎👎👎
I don't think they have any intention on implementing an unrealized capital gains tax. I think they will use it as a negotiating tool to get through a higher capital gains tax. They can say, see we gave in on the unrealized tax but were able to increase the capital gains tax to a negotiated 40% etc.
I agree. But not everyone knows that. And some of the less financially interested voters would do well to understand this.
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I don't think politicians have enough brain power to make that calculation.
It was tried in Norway with disastrous results. Why remain somewhere you are treated poorly when places like UAE welcome you with open arms?
There are even services like Nomad Capitalist that help you choose the right jurisdiction for you.
It'll also make bullets fly into their brains.
Always fun to see a good retest of the laffer curve. 🍿
The destruction seems so stupid it must be intentional, right?
#kamala2024
#accelerate
🧡
Acceleration of collapse x5
All those angels who voted for her would stay and save us. 😏
It’s a warning to the techboiz backing Trump
I bet there won't be a tax refund for unrealized losses.
Definitely heard this in Obama’s voice, haha.
Agreed. It would be financial suicide.
So... you're saying there's a chance that we win either way? 🫡🇺🇸🇺🇸🇺🇸
We’re headed to the right side of the Laffer curve, boys. Buckle up.
Where do these people come from? Kamala might be a Matryoshka doll. 🪆 the gift that keeps on giving. You get her -> Bernie Sanders -> Lenin
Ignorant people with power = disaster.
Voting for Harris is the new NPC test.
Only real option for US citizens is Puerto Rico or renunciation. I would imagine if they catch you not paying they'll just shut off your passport and then you can't even get back in (or out). would have to have a second passport and be denied US entry.
You will save nothing.
You will own nothing.
You will produce nothing.
You are nothing.
We need to recognize the democrats sole goal mission is to get Donald Trump re-elected.
It’s the only justifiable reason they’ve continued to talk about and market him for 8+ years. Now even the left policies are showing their hand.
Right now, the exit tax on unrealized capital gains is holding certain Americans back to just vote with their feet. Once Kamala enforces an unrealized capital gains tax, every year, the current economic berlin wall will tear itself down
If this becomes reality rich folks will simply denounce, pay the exit and that will be it. Still cheaper than paying every year. Rich people always find a way since they have resources. The issue is that this is just the start so we all need to have a plan B. They will come for the little fish too.
Exactly, only a matter of time for people to realise the tax burden doesn't justify the quality of living in a western country. Other countries are more and more noticing there's an opportunity to welcome rich and productive people
Precisely! I have worked all over the world and there is a big market for people from the western countries. The never ending foreigner train will also stop once these people find out what sort of craziness is going on in the US. The American Dream is what brings most people here. Taxes have been low compared to every EU country. Yes people have to deal with the nightmare of health care and educational systems but for young foreigners US was always the place to come and make money. Raising taxes will end this period of time.
So you're telling me People wont sell their chingaderas to give the government money?
But whos going to tech our Kids?
Hey James, I’m trying to understand both the dynamics and implications of such a move (wealth tax and/or unrealized capital gains).
Let’s say capital starts to leave the US, don’t you think lawmakers would enact strict capital controls to corral their tax base?
If so, would this be compatible with the US dollar position as global reserve currency?
Nah, where are they gonna run? Bahamas? Dubai? Calm down
I think that’s the idea 🤷🏻♂️
Funny thing is that most people know that. Except Kamala.
We don’t need a bloated government and they don’t need to steal anymore of our money
kinda want it happen so I can watch the fire works? is this wrong? haha
If I was an American bitcoiner in that situation, I would fluch my bitcoins in the toilet and immediately forget my seed words.
I can't have it, they wont!
I wonder if this tax does happen, do privacy coins like Monero suddenly surge for obvious reason?
And to make sure we only target ultra high net worth individuals, we're just gonna need to surveil every single transaction everyone does, k?
exactly
💯 It was put to test in Norway already and the outcome was a disaster. I'm not sure how they are not aware of it. They all act like they are totally retarded.
That would be a reason enough not only to flee the country, but to abolish the government. The mental framework to approve such law can only come from deep insanity.
The important thing is that you will have the first female president and Hollywood will film a great movie to celebrate Democracy after a few years of how she fought corporate interests with a 25% unrealized capital gains tax!!!