Sorry morons, I anticipated all kinds of net worth related taxes and benefits tests decades ago. I have 6 months living expenses in my high yield checking and a tiny IRA and 401k from when I actually believed this Country had a future.
The rest? It's gone. I mean, unless the IRS wants to come play LEGOS with me and watch a movie in my home theater, or go shooting or something. I've converted nearly all of it to hard goods. Tools, food, bullets, reloading components. A tractor, off road toys, and more.
You see, they can't get blood from a turnip and the Government seems to give free crap to people who spent all their money and take it from those who saved, so fuck them, I'm spending it and I'll happily bleed the welfare state for every cent they'll give me.
It'll never happen. First of all, the supreme court has already shot down several tax programs like this at the state level. Second of all, NOONE, will ever actually implement a legit net worth tax, because all of these people who're writing the laws are millionaires and billionaires themselves.
Even the states that have implemented a "wealth tax" of some sort, only did so in name. They're usually just another excise income tax or long term capital gains tax that's tacked onto normal income/capital gains tax, and EVEN then, they're usually subject to deductions, credits, etc. So no one actually pays them.
Wealth taxes are never implemented for this reason. They people writing the law would have to give up all their corrupt, ill gotten gains.
Sorry morons, I anticipated all kinds of net worth related taxes and benefits tests decades ago. I have 6 months living expenses in my high yield checking and a tiny IRA and 401k from when I actually believed this Country had a future.
The rest? It's gone. I mean, unless the IRS wants to come play LEGOS with me and watch a movie in my home theater, or go shooting or something. I've converted nearly all of it to hard goods. Tools, food, bullets, reloading components. A tractor, off road toys, and more.
You see, they can't get blood from a turnip and the Government seems to give free crap to people who spent all their money and take it from those who saved, so fuck them, I'm spending it and I'll happily bleed the welfare state for every cent they'll give me.
It'll never happen. First of all, the supreme court has already shot down several tax programs like this at the state level. Second of all, NOONE, will ever actually implement a legit net worth tax, because all of these people who're writing the laws are millionaires and billionaires themselves.
Even the states that have implemented a "wealth tax" of some sort, only did so in name. They're usually just another excise income tax or long term capital gains tax that's tacked onto normal income/capital gains tax, and EVEN then, they're usually subject to deductions, credits, etc. So no one actually pays them.
Wealth taxes are never implemented for this reason. They people writing the law would have to give up all their corrupt, ill gotten gains.
Tax code is racist
Therefore it must be scrapped immediately
Checkmate bitches
Push, push, push....