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Bernie Spends $575K on Vacation Home - Can Socialists Do That?

Do know what a socialist is? particularly a social democrat? They are not communists.

The is the crux of the issue, actually, people don't know. They hear the word socialist, and then go off on some crazed bender of what they think socialism is and how someone doesn't live up to their caricature of a socialist. Not noting, that Sanders never claimed to be a socialist but rather a democratic socialist, which is an entirely different beast.

Like most things in America, the sensationalism is driven by ignorance.
 
Shouldn't that income have been taxable? Why are lottery winnings taxable but not an inheritance? They are both "income from all sources". I guess the tax code is fine as long as it applies to other people's income.

Inheritances are subject to tax at the estate level; unless, of course, you are advocating for double taxation.
 
Shouldn't that income have been taxable? Why are lottery winnings taxable but not an inheritance? They are both "income from all sources". I guess the tax code is fine as long as it applies to other people's income.

I did not read the article.

I have no idea where he got the money.

But if he got it legally and paid his taxes on it then he should be able to spend it as he chooses.
 
Inheritances are subject to tax at the estate level; unless, of course, you are advocating for double taxation.

Actually, income from all sources is not that difficult of a concept. Lottery funds come from already taxed income too.
 
If you really simplify it, you have two main types of socialism Social democrats and Communists.

That's pretty oversimplified. If you want use a simple way of categorizing socialists, then I would say you need to have at least the libertarian-authoritarian scale, but you should also have the revolutionary-gradualist scale (see the article on the early history of social democracy).

On the far Left, you have two groups, namely Libertarian Socialism (aka left-libertarianism, Anarcho-Syndicalism being the most "pure" form of that ideology) and Authoritarian Socialism (aka state socialism, with Communism being the most "pure" form of that ideology). Historical examples of Anarch-Syndicalism are Revolutionary Catalonia and the Free Territory of Ukraine, and the historical examples of Communism are, of course, the USSR and China, amongst others.

The revolutionary-gradualism is where the term "social democrat" vs "revolutionary" arises. This is the disagreement over how to obtain a socialist society: Through gradual reforms over time or through a large revolution at once. However, more recent terminology simply refers to an acceptance of capitalism and concentrated control of private capital, but with some checks in place and social safety nets. (Therefore, this is this is "Social Democratic" state capitalism vs "Neoliberal" mixed capitalism vs Libertarian private capitalism --but these are all different arguments amongst a capitalist configuration of society, so there's no attempt at removing an amalgamation of private power and control by unaccountable individuals in the system).

Social democrats consist of movements from social liberals to democratic socialists and believe in democracy and reformism. They don’t wanted or haven’t been able to abolish capitalist but they have been able to create welfare systems and a lot more equal societies. They have come to power in countries that was already democratic or there a peaceful transition to democracy was possible.

No. Social Democracy was originally about whether the progress of socialism should be slow or fast. In the mid-twentieth century, social democracy became a "let's only reform capitalism, and not accept socialism" ideology, as the Wikipedia article indicates.

The notion that a "liberal" is a type of "socialist" is not merely a literal contradiction of historical terms, it's not even close to being true in modern political parlance. Some socialists will call themselves liberal (as an American political term for meaning "I'm on the Left"), but, for instance, I do not.

Today the most socialist countries of those countries like for example the Scandinavian countries ranks very high on for example the democracy index and press freedom index. Countries like Sweden have also a strong civil society.

Scandanavian countries are capitalists who accept the Social Democratic "state/mixed capitalism" model. In other words, they have a strong central state that controls portions of the economy, like healthcare/social safety nets/education/academic research, but they are capitalists. They don't object to there being individuals who control huge segments of the private industry.

Some people will call this socialist anyways (e.g. Bernie Sanders, Jeremy Corbyn, Labor parties across the West, etc), and I don't fully object to this. But we should be careful to note that it's always dangerous to have massive amount of private capital accrued in the hands of a small number of people. The failure to deal with this is what's lead to the borderline-if-not-outright corporate oligarchy and the spread of neoliberalism across the US, UK, and EU for decades now, and the weakening of social safety nets everywhere.
 
Actually, income from all sources is not that difficult of a concept. Lottery funds come from already taxed income too.

Literally everything is already taxed. "Double taxation" is just a silly term made up to defend rich peoples' tax exemptions.
 
Literally everything is already taxed. "Double taxation" is just a silly term made up to defend rich peoples' tax exemptions.

Other stuff like "capital gains" is also largely BS. If I buy a house for fair market value (100K?), pay to keep it in decent condition for 10 years or so, and then sell it for fair market value ($130K?) then I have "gained" nothing - I still have only enough to buy that very same house for its fair market value. ;)
 
Other stuff like "capital gains" is also largely BS. If I buy a house for fair market value (100K?), pay to keep it in decent condition for 10 years or so, and then sell it for fair market value ($130K?) then I have "gained" nothing - I still have only enough to buy that very same house for its fair market value. ;)

While opinions differ on capital gains, my objection is to suggesting its unfair because it is "double taxation."

My paycheck comes from my employer, who pays taxes. That money came from customers, who paid taxes. They were paid by their respective employers, who paid taxes and their income came fr-
 
Actually, income from all sources is not that difficult of a concept. Lottery funds come from already taxed income too.

First, it is not considered income. Second, its already taxed as an estate. An inheritance is merely a distribution from the estate, actually quite similar to a dividend is a distribution of previously taxed corporate earnings. .... I'm not sure why a libertarian is suddenly advocating double taxation, but I its your prerogative.

BTW, proceeds from a life insurance policy are not taxable either.
 
Other stuff like "capital gains" is also largely BS. If I buy a house for fair market value (100K?), pay to keep it in decent condition for 10 years or so, and then sell it for fair market value ($130K?) then I have "gained" nothing - I still have only enough to buy that very same house for its fair market value. ;)

And you know you don't have to pay taxes on that sale right??
 
Other stuff like "capital gains" is also largely BS. If I buy a house for fair market value (100K?), pay to keep it in decent condition for 10 years or so, and then sell it for fair market value ($130K?) then I have "gained" nothing - I still have only enough to buy that very same house for its fair market value. ;)

You would not pay income tax on transaction involving selling one house and buying another for equal or greater value. You also get an exclusion from tax on the gain once you turn 55... so you can sell your house outright, with married couples having the right to exclude up to $500,000 of gain from any tax.
 
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You would not pay income tax on transaction involving selling one house and buying another for equal or greater value. You also get an exclusion from tax on the gain once you turn 55... so you can sell your house outright, with married couples having the right to exclude up to $500,000 of gain from any tax.

You might be giving your age away there..... Congress eliminated the age 55 requirement back in 1997. ;)

Now anyone of any age can exclude $250k, or $500k if married filing jointly.

https://www.irs.gov/taxtopics/tc701.html
 
Proves only that Bernie was as much of a demagogue as those whom he railed against in his campaign. Not shocking. I do feel bad for the Bernie Bots who sold out for his idealistic message though. :shrug:
 
What the... I disagree with this guy on approximately everything, but how he spends his own money is his business, not ours. And being a socialist means having faith in the benign role of government in the areas of social life where - in my humble, very capitalist opinion - it should have none whatsoever. It doesn't imply any kind of monkish poverty vow.
 
What the... I disagree with this guy on approximately everything, but how he spends his own money is his business, not ours. And being a socialist means having faith in the benign role of government in the areas of social life where - in my humble, very capitalist opinion - it should have none whatsoever. It doesn't imply any kind of monkish poverty vow.

Sure he can spend his own money but when you hear it from the horse's mouth like that, "I am a Socialist," he looses people.
 
The man sold one house to buy another; what a complete non-story.
 
You would not pay income tax on transaction involving selling one house and buying another for equal or greater value. You also get an exclusion from tax on the gain once you turn 55... so you can sell your house outright, with married couples having the right to exclude up to $500,000 of gain from any tax.

Jesus Christ, ageism is real. God save millennials growing up with a bunch of leeches for superiors.

Do we even have leaders? Our organizations have nearly failed us.
 
Jesus Christ, ageism is real. God save millennials growing up with a bunch of leeches for superiors.

Do we even have leaders? Our organizations have nearly failed us.


Just as an FYI, there is no age test for that gain exclusion. If you sell your house, no matter your age, you can exclude up to $250k/500k worth of gain. If you reinvest the proceeds of the sale of any type of real estate (house, land, farm) and go through the motions for a like kind exchange, which means essentially reinvesting all the net proceeds and hiring a lawyer to check some boxes for you, you can defer (until later) an unlimited amount of gain
 
Proves only that Bernie was as much of a demagogue as those whom he railed against in his campaign. Not shocking. I do feel bad for the Bernie Bots who sold out for his idealistic message though. :shrug:

So buying a house makes one a 'demagogue'?

LOL! Really?
 
No, but preying on people's fears and frustrations with his emotional (and now apparently hypocritical) rhetoric does though.

What part of his rhetoric was demonstrated to be hypocritical by him buying a vacation home from the proceeds of selling another vacation home? I'm not aware he ever claimed to be poor or to give all his monies to the poors and underprivileged.
 
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