New Taxes

Last night on O'Reilly he was talking about taxes on millionaires. I think he was saying the Dems I assume want to tax people that have assets of a million, not just income. I didn't understand if they were taxing the income of those people at 49% or actually including assets as taxable. I guess i can look it up but was just wondering if anyone else heard it. O'Reilly said his mother lives in Leavittown in the house he grew up in and if he did't pay her taxes she could afford to live in the house. If this tax comes about most people who own a house on the lake will be paying these taxes. Most property on the lake is worth a million.

Obama's running out of millionaires to pay for ObamaCare, so he's going after those whose property(s) have appreciated. (The Real Estate Poor).

Which will result in the value of all properties depreciating!



I'm on a short lunch break. and the only thing I found for 2013 was this:

http://www.foxnews.com/opinion/2013/01/30/look-out-mr-obama-tax-revolt-has-begun-in-america-led-by-mickelson-woods/

(Golfers and boxers planning to leave the US because of taxes.)

It was on the radio last night but it may have been a rerun. I don't think it usually is on week nights, but you never know. I think it might be in the bill that the Senate finally passed after 4 years of not even trying to pass a budget. What a joke their budget is though. Cutting 900 billion in ten years? We need to do a lot more than that. And raising all kinds of taxes of course….

Here is the story.

http://www.mediaite.com/tv/bill-oreilly-clashes-with-liberal-guest-over-taxing-billionaires-does-the-govt-have-a-right-to-take-half-your-stuff/

OK, but that's different than the original post.

Thinking of some Billionaires, that would include John F. Kerry!

No wonder Obama sent him overseas!

What is different?

Given a couple of years, probably nothing, but a Billion is one-thousand Millions!



There can't be many Billionaires that haven't set up trusts, or other tax dodges—or will. Unfortunately, Bill Gates "good works" will probably be the ones to suffer Government's interventions. Kerry's fortune—which he married—will probably go "offshore".

Bottom line: Property—excepting IRAs, 401(k)s—are still "safe" for now.