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Metropolitan DC Local Politics
Reply to "South Asian homes in Fairfax targeted by Latino theft ring: over $2M in stolen goods"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote]So will the victims have to pay some sort of taxes or no?[/quote] Why would they have to pay taxes? The jewelry was not sold so they made no profit. They didn't have the money in anything profit making so there is no income to report on it. [/quote] It’s a valuable asset. People should be taxed on wealth, regardless of what it is or whether it generated a profit or not. The fact is they have it, and should be taxed on it simply because they possess it. If you have $1,000,000 worth of jewelry, you can afford a 25% annual tax of the value of it. [/quote] Are you a child? How can you be an adult and not understand the basic tax rules? We are taxed when we purchase jewelry; not annually. [/quote]
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