02-16-2026, 08:37 AM
(02-15-2026, 07:54 PM)Nintex wrote: They know it's unpopular but they can't delay it because it's part of an overall tax reform. So the idea is they pass it now and change it later but as usual it likely won't get changed and we'll be stuck with it. Which is why I'm focusing on a bigger paycheck before this hits.
A lot of people especially older with assets might actually move because of this but if they do that means less competition for those that stay.
I'm against this from a "more government control" perspective but if all the wealth and housing remains in the hands of those 50 and older it'll remain untapped capital for 20 - 30 years as they live longer. There is people that live in social housing and own 5 houses they put up for rent for their income.
Up to 60k of capital is tax free or ~110k if you have a fiscal partner.
But here is the catch. Most people don't have 60k in capital or stock if you remove the home equity and the 1st house and retirement savings are excluded.
We have to be realistic about the economy though, we have a huge pile of capital and savings not put to use for anything. While SMEs are struggling, the US no longer hands out free money and China and India compete with us as AI removes the language barrier.
Means test the social housing. Don't tax the value of assets that may be worth nothing the next day.