When the Dutch passed the so called 'Wet werkelijk rendement box 3' effectively making every person holding assets pay a 36% unrealised gains tax (by the way is due to start in 2028)

Everyone quite rightly started losing their minds and their seed phrases lol, the Dutch were setting out a literal orwellian nightmare, Klaus Schwab was saying...told ya didn’t I 🤣🤣

What if this is the test country, first Holland then roll out to EU and beyond!

But I think, hopefully we might be OK, actually instead of a worldwide attempt to steal everyone's shit, it's actually a beaurocratic fuck up, it's another example of politicians being politicians and it's so bad a fuck up that it is already collapsing before it can even be implementedBut I think, hopefully we might be OK, actually instead of a worldwide attempt to steal everyone's shit, it's actually a beaurocratic fuck up, it's another example of politicians being politicians and it's so bad a fuck up that it is already collapsing before it can even be implemented

How did the Dutch get themselves in this messHow did the Dutch get themselves in this mess

Any Dutch stackers please correct me if I butcher this explanation, but the Netherlands didn’t go about this hellbent on fleecing it's citizens of their hard earned assets, they actually created it while trying to wriggle out of a legal blindspot

For over twenty years, the Dutch 'Box 3'
system already operated on an unrealised gains tax system!! Wtf?? instead of tracking what citizens actually had, the tax people assumed a 4% to 5% gain on your assets and taxed you on that make believe growth, even if your stack tanked

Their Supreme Court declared this system unlawful, ordering the state to tax actual returns instead, realising they wouldn't be able to track everyone's buys and sells they panicked and came up with this unrealised tax bullshit, it was the first thing they could think of to get them out of a hole ^[1]

The politicians are panicking big timeThe politicians are panicking big time

They've realised they fucked up and are working double speed to water this down before 2028, they know that putting people in this position, especially the wealth makers, they'll just leave, of course they could hit them with an exit tax but even they realise you can only push people so far

The rest of EU and UKThe rest of EU and UK

Germany France and UK are set in stone that only a sell event triggers a taxable event, which hopefully won't change anytime soon (and the rest of EU will usually follow that example) but what we could see is the tax authorities looking very closely at the 'put your assets up for collateral and borrow against it' you can't tax debt right 😉Germany France and UK are set in stone that only a sell event triggers a taxable event, which hopefully won't change anytime soon (and the rest of EU will usually follow that example) but what we could see is the tax authorities looking very closely at the 'put your assets up for collateral and borrow against it' you can't tax debt right 😉

What do you think? You think I'm wrong and we're all doomed to find a friend with a boat to have an accident 🤣🤣

1. I was like wtf, the previous system was just as bad, why didn’t everyone kick off then? turns out there was a massive loophole called the upside cap, where under the old system they just taxed you 5% irrelevant of what you made, so if you made millions it was effectively untaxed ↩

2. But it all unravelled when interest rates went to zero and everyday savers with money in the bank earning zilch were still getting hammered for 5% tax, so that forced the case to go to court and the suits panicked lol ↩