Just in case you’re wondering, again if I remember correctly, when you pass your house to your heirs after your death, the basis becomes the value at the time of your death. Also keep in mind that I’m talking about courses that I took 50 years ago. I have know idea of what the actual law is today.
Category Archives: Uncategorized
UNREALIZED CAPITAL GAINS
I’m sure that most of you understand this, or at least think you do. The reason that I say you think you do is because if you bought a house for $100 K and then rolled it over for a house that cost $200K, your basis if I remember correctly from tax class is still $100K. And if you kept rolling it over and now own a home worth $1 million, your basis is still $100K. So anyway if you bought your first house for $200K and it’s now worth $600K, you have an unrealized capital gain of $400K.and under SK’s plan at 25%, I believe it’s actually 28% but to make the math easier, you would owe $100K in taxes just to stay in your house. Even if you took out a second mortgage or refinanced for $250K, your basis for this tax is still $200K. And this will continue every year.This would destroy the economy.
ONE MORE THING
I have been meaning to address this for sometime, and since she keeps saying it, I’m going to. SK keeps saying that she is the only person on stage that has ever prosecuted transnational gangs. She has never personally prosecuted transnational gangs. She doesn’t have the ability to prosecute what would be a multi-week trial. She’s taking credit for cases brought by DA’s who are independently elected. It’s like Garland taking credit for all the cases in the federal system. He doesn’t even know about a fraction of them. Trump should have called her out and asked her, how many did you personally try.
FOLLOW ON
Now I know that some of you are thinking hindsight is 20/20, but don’t forget my first rant was contemporaneous. Further more I wasn’t even remotely part of Trump’s debate preparation team. Had I been, he would have been prepared with that response. I was surprised that he didn’t mention her family history of slavery.
SHOW STOPPER
As I put up shortly after the debate that Trump should have pointed out when she called him racist that he should have said that her family owned slaves. Reflecting on it what he should have said is my family never owned slaves, your family did. And you are for reparations. Do you expect to receive them or pay them? At that point I believe she would have folded up like she did when Tulsi Gabbard confronted her. It would have been a showstopper!
I WASN’T WRONG
You maybe wondering about my position that SK doesn’t have the mental horsepower to actually process information and respond on the fly. I was right. The difference between her and Magoo is that he tried to and she didn’t. All her responses were either he’s lying or some canned talking point that had nothing to do with the issue. Trump should have made her pay for it but he didn’t. Bad on him but it doesn’t demonstrate that she can think on her feet.
Now SK and the presstitutes are demanding another debate and saying that Trump is afraid to do it. Trump should accept but demand that it be on a truly neutral site and make sure that the moderators are either neutral or each gets to pick one. Last night on Watters, Clay Travis said he had a brilliant idea. Each candidate picks a moderator who will question the other candidate. Trump’s pick would question SK and her pick would question him.
It is a great idea, but I either ranted about it or discussed with some of you over a year ago and my suggestion was that Mark Levin question Magoo (now SK) and Rachel Maddow question Trump. That would be must see tv and she would absolutely refuse to do it because she knows that she can’t answer unscripted questions.
TAYLOR SWIFT
(BTW: I deleted my last rant and put Seger where he should have been.)
Now I had not planned to rant about Swift’s endorsement of SK. However one of you HS texted me out of the blue about it and even went so far as to do the research on her academic background. She left high school in her junior year to pursue her musical career and later got her diploma via homeschooling. She never went to college. So I figured I would address it.
First I’ve never been a Swift fan. I considered her as bubblegum country and have never heard any of her songs since she went pop other than when someone covers one of them on Idol or the Voice. She’s attractive but so what?. If you are going to vote for SK because Swift endorsed her then you should probably not be voting.
Now if you look at why she said she endorsed her, it gets worse. She said she did her homework and research and came to the conclusion that her policies were best. PROBLEM: what policies? She has none as she demonstrated last night. The only ones she has are the ones she is now trying to disavow. If Taylor likes the changed positions then she should endorse Trump because as he said last night her new ‘positions’ are his positions. The only thing that is clear is that Taylor is one more person who thinks the only issue is deproductive rights.
I personally don’t think celebrity endorsements mean anything. Anyone who votes based on them was already going to vote that way.
QUICKIE
If this had occurred in a court case and I had taken notes, my rant would have taken several more pages. It’s the best I could do at my advanced senility off the cuff.
SHUT THE FUCK UP AND ANSWER THE QUESTIONS
I am starting this at the first and I believe last break SK is well prepared and lying through her teeth and he is not calling her out on it and more importantly he’s not answering the questions. All he had to do is say that he would veto a national abortion ban, but he didn’t. That was a big mistake. And when he talked about the governor of Virginia, he said West Virginia, but later got it right, and about Tampon Tim and said that they had said they would allow a baby that survived an abortion to be left to die. And she denied it and the female moderator said that was not true and there is no state in country that allows that and Trump didn’t respond as I expected he would by pointing out that TT signed a bill that said medical personnel had no duty to take care of that child. He apparently didn’t do his homework like she did.
Buckle up because this is going to take a while.
Trump spent too much time evading questions and instead fell back on his basic rally talking points and she lied about everything. She said so many times that it is time to ‘turn the page’ that she probably owes royalties to Bob Seger and the Silver Bullet Band, and he never once said the page is yours. He let her get away with the lies about Covid and didn’t say what I put up recently that the lost jobs were due to Dem governors.
When she carried on about his supposed racism, he didn’t say my family never owned slaves!
When she said she would be a stronger president on the world stage and that Trump was a laughing stock on the world stage, he didn’t ask her why there were no wars when he was president and there are two now and China is threatening Taiwan if she’s so strong.
I thought he missed a great opportunity when she said in defending Ukraine that the preeminent basis for international law is the integrity of borders and he didn’t respond that apparently you don’t think that applies to our borders!
She was never held to respond to her flip flops and he didn’t force her to respond.
He did a good job on J6 but didn’t go far enough.
And on the Afghanistan withdrawal he never held her feet to the fire and demand a response to why neither she nor Magoo have ever contacted the families of the 13 soldiers killed during the withdrawal.
I may have more tomorrow but that’s all I can put up extemporaneously without notes.
MORE SK
I am doing this mainly because there hasn’t been anything really new in a while and I want you to know I’ve not gone senile yet. All that’s been happening is replaying Kama Chameleon flip flops. And even VDH has been boring lately. He has to produce a few articles every week, which fortunately I don’t have to do, and so he’s put out just recaps basically.
So here’s what I will discuss tonight. I expect things to pick up after the debate. But first SK put out a policy statement today and it was a big nothing burger. No substance just platitudes. What’s an opportunity economy? She wants to make sure everyone has the opportunity to buy a car and a house. Everyone can do that now if they have the money to do so and that won’t change unless she is really talking about an equity economy in which everyone is given these things by the government. And that’s communism.
Next she keeps saying that if she’s president she will abolish the filibuster to pass the GND. I know she was a DEI law student but she was a US Senator and should know that the filibuster is a senate rule that can only be changed by the Senate. The president has no say in the matter.
And lastly I’ve heard several clips of her refusing to specify at what week she would ban abortions. She instead keeps saying that she wants to make Roe v Wade the law of the land. I was in law school when that decision came out and I’ve read it and studied it. But here’s my point. If it comes up in the debate Trump, should ask her to explain what that case held and then sit back and watch her dissemble. I’m sure she couldn’t explain her position.
I will certainly have something to say after the debate.