Recent Comments

1. 4 months ago on FoxTrot

   I read the executive order. Folks are notified, and given 14 days to confirm their status as citizens. I think “suspected non-citizens” is accurate.

2. 4 months ago on FoxTrot

   “This week the Supreme Court revived Virginia Republican Gov. Glenn Youngkin’s effort to purge 1,600 people he says are suspected noncitizens from the state’s voter registration rolls using records from the Department of Motor Vehicles.

   “But the practice, critics say, is haphazard given those DMV records may not be current and can result in US citizens being removed from voter rolls.

   “CNN obtained access to the list of Virginia voters who were removed and called over 100. We found a variety of US citizens and noncitizens, some of whom were aware they’d been purged while others, who had not yet voted, learned the news from CNN.”

3. 5 months ago on Bottom Liners

   No, the point of VAT is to include it in the total. 2 + 2 = 5 is more like adding sales tax AFTER you’ve totaled the prices.

4. 6 months ago on Bottom Liners

   It’s not a matter of hating rich people.

5. 6 months ago on Bottom Liners

   Don’t know about you, but I don’t have anywhere near $100MM in net worth. Estimates are that the tax would affect about 11,000 people in the entire country.

6. 6 months ago on Bottom Liners

   The proposal would not tax unrealized gain on the value of real estate.

7. 6 months ago on Bottom Liners

   From axios:

   It applies only to individuals with at least $100 million in wealth who do not pay at least a 25% tax rate on their income (inclusive of unrealized capital gains). Payments can be spread out over subsequent years.

   Within that $100 million club, you’d only pay taxes on unrealized capital gains if at least 80% of your wealth is in tradeable assets (i.e., not shares of private startups or real estate). One caveat for this illiquid group is that there would be a deferred tax of up to 10% on unrealized capital gains upon exit.

   Wouldn’t tax the value of real estate. And I think it likely that, once you’d paid taxes on unrealized capital gains, the affected gains would be treated as “realized” for purposes of following years.

8. 6 months ago on Bottom Liners

   Moreover, the plan is limited to households worth more than $100 million (per the smartasset website):

   “One issue in this plan has captured specific attention: a new tax on unrealized capital gains. Biden, and now Harris, have proposed levying an annual tax on the static wealth of households worth more than $100 million. Specifically, households worth more than $100 million would pay an annual minimum tax worth 25% of their combined income and unrealized capital gains.”

9. 8 months ago on In the Bleachers

   “Pull back”?

10. 10 months ago on Jerry King Comics

    Someone misspelled “plagiarist.”