Value

Throughout history, recorded and before such recordings were made, the “value” of anything was and is based on what the owner thinks it is worth, negotiated with a buyer, who also has his estimation of what it is worth.

The value of the property is zero until an agreement is reached allowing the good to be transacted, that is to say, relinquished by the present owner and handed over to the new owner.

This is literally true no matter what words you wish to dress the pig with.

Now this is not to say that throughout history, might (that is force or threat of same) has been applied to TAKE the property from one who cannot defend it, and passes over to new ownership by this means.

This does not change that the value when being sold legitimately, is established at point of transaction. In fact, there are a few words in our Constitution that specifically address this little issue of property and keeping the powerful from taking it.

This brings us to the fantasy currently being pushed by the DemComs who suddenly think it is a grand idea to tax “unrealized income”. By definition, there is zero income until property is sold. What I think is worth a million, might not be worth one thousand to all the buyers on the planet, so were the item to sell, the value realized at sale would be one thousand clams or equivalent in whatever currency is used.

How in Hades then, can anyone “tax” something that may have appreciated in value over time, if the market has not established what it’s true value is at time of sale or disposal?

Ah, but here  my friends, we enter the area of fantasy, where the DemComs say: Well, we (those in government) will establish a department of valuation at the IRS, which will determine (how is undefined) what the value is at the close of each year (or month, or quarter) and will tax you on it.

But, but but you say, how am I to pay a tax when I have derived no income from said value? Not our concern peon, just send in the cash.  But, but but, will you refund my tax if the value drops at next valuation? No, send in more cash!

Call, email and write all your congress critters NOW, and let them know, civilly but in no uncertain terms, that this MUST NOT COME TO PASS and if they value continuing in office, to reject all such foolishness. NOW.

Here is a handy taxpayer funded option for finding your particular critters. Type in your zip code and Bob’s your uncle.

https://www.govtrack.us/congress/members/map

To paraphrase that no longer American company that uses Chinese slave labor… Do it **w.

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readerjp
readerjp (@readerjp)
October 29, 2021 18:38

So whose property is this money? The Biden administration is considering paying illegal immigrant families who were separated at the border under former President Donald Trump’s policies up to $450,000 per person, The Wall Street Journal reported on Thursday. Some of the migrant families filed civilian claims seeking compensation to cover mental health treatments, the WSJ reported. In another lawsuit,… Read more »

Cyclops1958
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Cyclops1958
October 29, 2021 20:19
Reply to  Terrapod

Apparently, congress learned nothing from King George.

DeplorableGranny
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DeplorableGranny
October 30, 2021 07:41
Reply to  Terrapod

It is my understanding this will not go to congress. The ACLU (which does not and has not represented Americans in a very long time) has sued the government and the government wants to settle out of court. Not because they were wrong, but to show once again they are in charge and they do not give two figs for… Read more »

readerjp
readerjp (@readerjp)
October 29, 2021 22:49

Hey, it’s only a BILLION dollars.

readerjp
readerjp (@readerjp)
October 29, 2021 23:02

In one case, out of a sample size of 587 addresses in 22 districts across the state (VA), 217 out of 243 live contacts – nearly 90 percent – the absentee ballot information listed did not match the person living there, the report found.

I’ll bet McAuliffe wins, just based on that. The Democrats have made ballot stealing an art.