"If the Biden/Harris team does come in and they were to implement what's on their platform, which is a tax on unrealized gain, that's going to cause massive selling of homes, of stocks, of companies, of art, and that could result in a—you know, put us immediately into a recession. So, hopefully if they are elected, they won't pursue that, but I wouldn't put it beyond them."
If they do implement this, it will only be on ultra-wealth at first. Kamala's nose in the tent. If they begin to lower the threshold of income to which it applies (which is likely given historically that governments and tax always tend to spread), then it depends on how low. These days, I'd think they'd eventually go for it all.
Thoughts on raising Capital Gains taxes. (Realized and Unrealized)
At the onset, it is an out and out money grab. But going forward, is it a plan to divert investment from private enterprise and into Non-Taxable gvt bonds, given they have a tempting yield?
If so, then we end up with a true Centralized economy with the Gvt allocating capital as it sees fit?
The financial media loved any interview with Paulson after 2008, but when he announced his very large allocation into physical gold the same media ridiculed and mocked him mercilessly as the price of gold fell, now with the resurgence of gold even among central bankers he is once again a popular guest. Everything goes in cycles, even gold.
Can't help but wonder what would happen to gold prices if his suggestion of a 10% allocation were applied by all US investors. Hasn't Rick Rule claimed that it's currently 0.5 %?
"If the Biden/Harris team does come in and they were to implement what's on their platform, which is a tax on unrealized gain, that's going to cause massive selling of homes, of stocks, of companies, of art, and that could result in a—you know, put us immediately into a recession. So, hopefully if they are elected, they won't pursue that, but I wouldn't put it beyond them."
If they do implement this, it will only be on ultra-wealth at first. Kamala's nose in the tent. If they begin to lower the threshold of income to which it applies (which is likely given historically that governments and tax always tend to spread), then it depends on how low. These days, I'd think they'd eventually go for it all.
Thoughts on raising Capital Gains taxes. (Realized and Unrealized)
At the onset, it is an out and out money grab. But going forward, is it a plan to divert investment from private enterprise and into Non-Taxable gvt bonds, given they have a tempting yield?
If so, then we end up with a true Centralized economy with the Gvt allocating capital as it sees fit?
The financial media loved any interview with Paulson after 2008, but when he announced his very large allocation into physical gold the same media ridiculed and mocked him mercilessly as the price of gold fell, now with the resurgence of gold even among central bankers he is once again a popular guest. Everything goes in cycles, even gold.
Can't help but wonder what would happen to gold prices if his suggestion of a 10% allocation were applied by all US investors. Hasn't Rick Rule claimed that it's currently 0.5 %?