It was even here in HN a community of pretty normal people. Remember the discussions of Sweden’s approach to lockdowns? Any mention of it and you were shouted down and blood was surely going to run in the streets of Sweden by dawn the next day. I lost a lot of faith in the HN community then. The pandemic and the compliance and the us vs. them mentality really opened by eyes. It’s how terrible things happen, people wi…
HN, to it's credit, at least permitted dissent without systematic bans for going against whatever was the officially blessed narrative of the day.
How do you know you have over 100m in assets? One never really knows the worth of something until it's sold. (i.e. try selling a used car. there's what you think it's worth and what you get...) And once the asset is sold, that's a taxable event.
> How do you know you have over 100m in assets? If your bank determines that assets you post for collateral are worth 100mn or more, that's a pretty good indication.
That's an estimate to enable business to go on based what the bank is willing to risk.
For the proposal to work you would need an estimate good to within less a percent. Or lawsuits galore.
How do you know you have over 100m in assets? One never really knows the worth of something until it's sold. (i.e. try selling a used car. there's what you think it's worth and what you get...) And once the asset is sold, that's a taxable event.
Hunter Biden art comes to mind.
Great example.
The art is very valuable, financially, because people are willing to pay for it.
However, absent the market clearing the asset, its value is impossible to objectively evaluate. Even if we had an objective function to evaluate art the basis of evaluation is incorrect - the artwork is valuable as an instrument of government corruption
So m, if we can't even agree on the reason why Hunter's artwork is worthwhile, how can we even possibly evaluate it?
It's funny because Facebook's news feed in the last couple years is unusable, filled with AI slop and clickbait. Twitter similarly requires aggressive use of block + mute to eliminate scams, clickbait, and other content I'm not interested in. I don't know if this is due to their changes in moderation policy, or if AI has overwhelmed them, but I vastly preferred the old news feeds
A few years back it started showing me obvious political ragebait. I ignored it and then it started showing me pictures of women whose nipples were obviously showing through their clothing, which was an improvement, but still not the reason I signed up for Facebook. I've always understood it as the algorithm is looking for engagement and will try some lowest common denominator tactics to engage in it. As someone who…
Same here. There was nothing I could do to get my feed to not be full of provocatively insulting and irritating political posts. I’d unfollow, unfriend, block, say “show me less of this” and so on. But when I’d unfriend some person, very next thing on my feed would be political content I didn’t like from some totally random person on my friend list who I’d never interacted with. Meanwhile I’d notice that people I actually knew in person had life events I’d want to know about - got married, took a nice vacation, had children even, and FB had never showed me stuff like that! So I just stopped using it entirely. Then when I went back after a few years, the site demanded my driver’s license. So guess I will just never sign in again.
Unrealized gains taxes is an extractive and totalitarian tax. Someone is always risking 100% loss until they realize those gains. It's an affront to entrepreneurial risk-taking and it's capricious. It would be just as ridiculous to allow someone to write-off unrealized losses.
Couldnt it be similar to a property tax? That's evaluated on an annual basis. If you feel it's wrong you can appeal
1. Properties are bought/sold constantly around most people's homes. Evaluating a home price is not that hard, compared evaluating how much the remains of the car that Ted Kennedy crashed is worth (I purposely chose this example. The car is "worthless" yet I guarantee you can find a nut willing to spend a fortune to have this piece of political history)
2. Properties are purposely, often by statute, assessed far less then they are bought for
3. There are tons of lawsuits around this, imagine the cost of every asset being scrutinized and potentially appealed!
How many $100m farms are there that are not part of publicly traded companies are there in the US? And again, this is for publicly traded stock portfolios. Private farms won’t be broken up… yet :-)
The $100M is an arbitrary number. It can go up, it can go down. It will be eroded by inflation and almost certainly not be indexed or indexed to a number controlled by bureaucrats.
> want kids to be transitioned If you go back 4 years, Trans and Black Lives Matter very much dominated the DNC, and those topics today get barely a whistle. I read the whole DNC platform, it's very much not what it was a few years ago. Meanwhile the VP candidate on the other side has a non white, non Cristian wife and has very much repudiated the racist part of the party. I suspect that in 4-8 years you will have se…