Submitted by Dave Hodges on Monday, October 4, 2021 – 10:48.
The Fabian Socialist plan to eliminate all inheritance in the middle class is underway inside of the Biden administration. The purpose is to create a system of neofeudalism.
The plan, as presented in segments by Senator Kennedy (LA-R), Secretary of Treasure and former Federal Reserve Chair, Janet Yellen, and Fox News host, Tucker Carlson. When one considers the combination and net effect derived from the statements of these three individuals, the message is clear. America isn’t just entering a system of Godless Maxist-Communist rule, America is entering the realm of abject feudalism and all of its human rights violations and abuses. Truer words were never spoken when World Economic Forum leader, Klaus Schwab stated that “You will own nothing and love it.”
The Biden administration, through hidden language in the upcoming two major budget bills, plan on eliminating all inheritance for everyone except for the elite. The plan also plans to eliminate all private property ownership. First, let’s take a look at the elimination of inheritance for the average family.
The Attack On Inthe Generational Transmission of Wealth
Early last week on Fox News, Senator Kennedy exposed the plot to eliminate all inherited real estate property.
Senator Kennedy said in an interview with Fox News:
“…And I guess the moral of the story is, this is what happens – this is what happens when you have a president and a treasury secretary who are on a mission from God to please pink-haired wokers who carry around ziplock bags of kale. This is what happens when you have a president and a secretary who want to tax, spend and regulate America into neo-socialism…young widow with three children… [who] goes and buys a $150,000 home to raise her kids… that the house is the woman’s only asset and by the time of her death the home is worth $1.75 million due to inflation. She leaves her home to her kids. Under current law, her kids would not have to pay any income tax on that home if they didn’t sell the property. They wouldn’t have to pay any inheritance tax either. And this … the United States has never done this, never…the policy is going to affect millions and millions of middle class Americans” and “maul the real estate market.”
As if this were not bad enough in that Yellen/Biden want to make it impossible for your children to inherit anything of value.
Of course, the devil is in the details. Take Senator Kennedy’s example, listed above. The normal mind would think that this tax would be based on only the appreciated income, the difference between $150,000 and the appreciated value. No, that is not how it works. Your heirs, will pay tax on the final appreciated amount, in total. In this instance, that would be be $1.75 million.
Eliminating the Private Ownership of Homes, Businesses Or Investment Properties
Part two of this plan is so outrageous that it almost defies description. Yellen/Biden and their Deep-State Fabian Socialists want it all. They not only are preparing to tax you into oblivion, they want everything you own. Again, the World Economic Forum has told us that the Great Reset means that we, the people will own nothing.
Yellen presented a plan that is so outrageous that you think the powers-that-be would try and camoflauge their intentions. On the contrary, Yellen boasts about the virtue of stealing your home from you and your family.
Again, From Fox News:
Tucker Carlson laid out Biden/Yellen’s proposed tax plan in the upcoming budget bill, by stating “…if you own something that has become more valuable over time, including your house, Jenny Yellen believes you should be taxed on the rise in value. She said that again, this week on Capitol Hill, when she proposed taxing the unrealized gains of inherited assets, again, that would include real estate. What would that mean? That would be millions of Americans would owe taxes. They’d be forced to pay money they don’t have.”
Yellen justified the tax on appreciated real estate income because, “…a very large share of the income of wealthy individuals is simply never taxed. Individuals hold onto these assets during their lifetime, that income is never taxed. And we know that for some of the wealthiest individuals in the country, they pay very low taxes overall because most of their income takes the form of unrealized capital gains.”
Although Tucker Carlson exposed Yellen’s statements on wanting to tax Americans on the appreciated value of their homes, he very badly needed to emphasize and emphasize again that this is the end game for the Biden administration that seeks to eliminate all private property. This is Yellen’s mission. She failed miserably as the Chair of the Federal Reserve, this is here last chance and she is going for broke, or rather, she is trying to make all middle class Americans broke.
A closer look at this travesty reveals the biggest scam, outside of direct confiscation, that a government can do to its citizens.
Let’s say that you bought a home in 2001 for $200,000. In 2021, that house is appraised for $800,000. Yellen wants to tax you for the $600,000 in appreciated value. The Treasury Secretary did not specify a tax rate. However, if we apply Biden’s 43% capital gains tax rate, which is reasonable to assume that will be the tax rate, you would owe a whopping $258,000!
An additional look at this problem reveals that this will become a financial burden on a year-to-year basis. In today’s market, an appreciation rate of 10% is common and in many markets, the 10% rate is a modest estimate. Using this example, your property has inflated to a value of $880,000! You now owe 43% of the $80,000, the appreciated value. On April 15, you owe the government an additional $34,000!!! The average American does not have $400 in their savings. Many Americans are living month-to-month. How are they going to afford this? The short answer is that they are not.
No problem involving the Satanic globalists would be complete without a conspiracy. Last winter, we kept reading about Blackrock. Well I did research the entity. They have deep ties to the Federal Reserve, where they, themselves, have been engaged in wholesale collections of mortgages. It is typical for Blackrock to enter a zip code and offer 20-50% over the asking price, thus dramatically driving up the value of everyone’s home in the area. Why would any corporation offer as much as 50% over the asking price?
Being a quasi-related Fed entity, they are carrying out their mission which is to dramatically cause properties across America to dramatically appreciated. The media joyfully refers to the real estate market as “red hot.” However, the media, if they had a rare moment of honesty, would label the real estate market as fattening up the American middle class for the final kill. It is clear that Blackrock is secretly supporting Yellen’s plan to seize American homes abased on unrealized income potential and place the additional tax burden, based on greatly increased and artificially produced home appreciation rates.
There is another aspect to consider as well. Do any of you ever deliberately engage in an action which will have a dramatic increase in the appreciated value of your home? Other than home improvements, which don’t move the needle of appreciation very much, you cannot control your appreciation rate. In fact, when your home appreciates, you lose money due to the increased property tax assessment on your home. Your primary residence cannot be considered to be an asset, much less an appreciated asset. However, this will not stop the Yellen-led globalists from stealing your home for non payment of the unrealized income tax-related debt. The same rules apply to your business and rental properties as well.
Your home appreciates most years because of the inflationary effects from the usury fee the Fed charges to enter dollars into circulation. Property taxes also increase because of speculative buyers like Blackrock. Regardless of the cause, feudalism is at our doorstep. How are you going to respond? Are you just going to lay down and take your building. America is sitting on their hands. The Biden administration has done more to wake up the country than I could have done with. (Click to Source)