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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 368.29+0.6%Nov 7 4:00 PM EST

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To: Maurice Winn who wrote (6214)5/10/2006 9:39:53 AM
From: Slagle  Read Replies (2) of 217596
 
Maurice,
I feel your pain. No taxes on unrealized gains here yet but I'm sure that is thought of as a "progressive" idea by certain types here, mainly our native "bludgers" and their enablers.

I don't know if you are aware of it or not but New Zealand is regarded by some US (and I suppose from all over) leftwingers as the "Holy Grail". I have a couple of leftie cousins who have been talking about "escaping" to your country for many years. I would guess these two are typical in that they have been committed leftwingers since the 1960's, neither one of them have ever "hit a lick at a snake" (old southern mountain slang for someone who will not work <grin>) so if they ever manage to come there they will join your existant pool of bludgers. One of them inherited some money but I imagine he has mostly run through it.

Years ago one of them talked about going to Cuba to join up with the "revolution" but I think that the specter of the the obligatory service in the sugar cane fields cooled his revolutionary fevor, as he never went.

NZ is another matter though. It is good to be popular I suppose but it could be that going on four terms of your "Helengrad" has attracted some international attention that you would be better off without and if you don't keep your entry barriers high you will pay for it with more inventions like the "unrealized cap gains tax".
Slagle
CORRECTION....after I thought of it a bit there is ALREADY a great deal of tax on realized gains here in most states in the form of property taxes, and in a way it may be even more unfair that taxes on other types of paper gains. The local tax ascessor just by fiat places a value upon your property and you are taxed accordingly.
Slagle
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