Does this article paint an accurate picture of what lies ahead for collectibles?

[Cliff Bowman]

Originally Posted by perezfan

I am already hearing that leaders of the progressive wing of the democratic party plan to place an exorbitant tax on individuals' assets. This is in addition to dramatically increased income taxes.

Those people and their donors are in the top .1%, they are going to have plenty of loopholes to exclude themselves and their cronies from their laws that they will enact on everyone else.

[Mark]

Originally Posted by Cliff Bowman

Those people and their donors are in the top .1%, they are going to have plenty of loopholes to exclude themselves and their cronies from their laws that they will enact on everyone else.

Several European countries imposed but later abandoned the wealth tax, in part because it was so difficult to determine someone's genuine wealth. At the same time, there may well be a strong desire in some circles to level things. It has happened before.

[packs]

Originally Posted by Mark

Several European countries imposed but later abandoned the wealth tax, in part because it was so difficult to determine someone's genuine wealth. At the same time, there may well be a strong desire in some circles to level things. It has happened before.

It has always been a part of economic recovery. We are doomed if we don't overtax the rich. History is supposed to teach you things. During the 50s and early 60s the top bracket income tax rate was over 90% and the stock market, economy, and middle class all boomed. If you're a boomer, you grew up in your childhood home because of this tax. Now those boomers are in government. You're supposed to learn from what worked.

[Cliff Bowman]

You honestly believe that NP, EW, and all of the other muitimillionaire politicians are going to pass laws that takes THEIR WEALTH and the wealth of their billionaire donors? Wake up.

[mantlefan]

Wealth like real estate holdings, bank accounts, stock portfolios....will be easy to locate and tax. Locating my Mantle stash will take some doing on their part.

[Johnny630]

Originally Posted by mantlefan

Wealth like real estate holdings, bank accounts, stock portfolios....will be easy to locate and tax. Locating my Mantle stash will take some doing on their part.

It will take some time to locate, however they will get you when you sell to turn that Mantle Stash into Returns.

I always say it's never a Gain on your Asset Until You Sell it for a profit, it's also never a loss until you sell it for a loss. Cash is King Always has been Always Will Be.

[Exhibitman]

Well, shit, people, if you are not declaring your profits on your sales you are already committing tax fraud.

Can we leave the politics out of this discussion--just assume that we hate you and you hate us and will never agree on tax policy--and maybe we can discuss a serious issue raised in the OP as to the future of collecting rather than degenerating into a off-topic fight? There's plenty of bandwidth for political trash-talking elsewhere.