Ridgetop - our place and how we muddle along

[murphysranch]

And she intends to lower the threshold for inheritance tax. Mother has two properties in CA and both are under the Prop 13 tax relief. It will be damaging to her estate and checkbook, since one of them is worth 2+ million and its simply a townhouse. She'll be 94 in a couple of months.

Plus what you said, which is going to be horrendous for America. Simply horrendous.

 

[Mini Horses]

She also wants to tax unrealized capital gains. That means that if you own something and it becomes more valuable (property, stock, retirement income, etc.) the government will tax it on the new value it becomes. This would be before you sell it.

Just how do you think that can happen? Markets are up & down, until sold value isn't finally determined and no way they can keep track of trillions of such details. That's insane talk.

Anytime there's a sale or transfer now, you're subject to taxes on capital gains, or not -- depending on reuse of $$. So, only the rate would be a difference.

 

[Baymule]

Just how do you think that can happen? Markets are up & down, until sold value isn't finally determined and no way they can keep track of trillions of such details. That's insane talk.

Anytime there's a sale or transfer now, you're subject to taxes on capital gains, or not -- depending on reuse of $$. So, only the rate would be a difference.

Easy. Everyone would dump their stocks to keep from paying taxes on money they don’t have. The stock market would crash, probably followed by stock markets around the world. A complete meltdown.

 

[Mini Horses]

Don't see that happening.

 

[SageHill]

Don't see that happening.

Certainly hope you're right on that one.

 

[Mini Horses]

Where are you????????

Is everything ok? You're not posting, unlike you

 

[Mini Horses]

@Ridgetop .... No MIA allowed.

You've been walking with a cane. You've been talking painting, removing wall paper. Both require a ladder.

I don't feel cane & ladder belong in same thought. Tell us you're not endangering yourself because you have "prime" confused with "youth".

 

[Baymule]

I just got off the phone with her. They both have had Covid, both been in the hospital but both are much better now. She is still weak and tired. She had to send her computer to her husband when he was in the hospital and hasn’t cared to unpack it. He has a doctors appointment on Thursday. She said maybe she will get her computer next week. They are both ok now, just have that drained tiredness from getting over Covid.

 

[farmerjan]

Wishes for a faster recovery .... get the he//back to TX where you belong....

 

[Finnie]

@Ridgetop I hope you and DH both feel well today.