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Australia to tax unrealized gains

trader said:
This is madness at a level we haven't seen yet. It appears the Aussies are the first test case.

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Had to read and learn what “super” funds are. Text in article is a little hyperbole because people can’t liquidate their “super” without hardship prior to 60. The funds they are talking about seem like a weird SS system. Still strange taxing something before knowing what it is really worth….not a fan
 
"because the disastrous results will be on full display for the world to see." And when did that ever stop anything? "That won't happen here/this time." "All we need to do is tweak this adjust that." What they are really thinking but won't say is that they are smarter than everyone else and they can do anything. Should it not work it's always someone else's fault not that they had a stupid idea. I.E. Legalizing drugs, needle exchange, safe shoot up zones, Gun control to stop violence. All you have to do is look at history and see how peaceful the world was before guns or gun powder :rolleyes:. I'm not a finance guru or an oracle yet I've been warning people for years wait until the Gov. takes all those pre-taxed dollars in your IRA/401K, or maybe just takes the whole damn thing. "You didn't build that":mad:
 
I think this would affect too many voters. I hope so anyway. The only thing that keeps a politician away from your money is when they are afraid the voters would throw them out of office for it. They are too protective of their gravy train with biscuit wheel jobs to anger that many voters...I pray anyway.
 
xdman said:
What about unrealized losses? That's why you wait and tax after maturing
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I have asked my CPA about this. As a lawyer, I have successfully obtained judgments for many clients, but I cannot collect on them in many cases, for various reasons.
Since some those cases were contingency, I have never been compensated, collected, nor has my client.

Wouldn't it be nice to shift some of the more profitable years to less income years, if I could write down my income with unrealized losses.
 
it's like precrime software. The idea is the kopz know what you'll do wrong before you do, or something like that. The reality is that the software companies get paid, and big time, with your tax dollars regardless of whether any of it was/is/will be true. Bada boom.
 
Winchester67 said:
I think this would affect too many voters. I hope so anyway. The only thing that keeps a politician away from your money is when they are afraid the voters would throw them out of office for it. They are too protective of their gravy train with biscuit wheel jobs to anger that many voters...I pray anyway.
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I fear we are getting close to the tipping point of more lay-abouts than workers. Soon the politicians won't worry about the small number it would affect. Not to mention the brainwashed.
" From each according to his ability, to each according to his needs " Karl Marx
 
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