Does this article paint an accurate picture of what lies ahead for collectibles?

[55koufax]

https://www.zerohedge.com/markets/wh...s-will-crash-0

[ullmandds]

someday! question is...when?

[Bram99]

No one really knows but:

1.). Most of the expensive cards are already in the hands of the top 10% - they don’t rely upon the 90% for valuation support.
2.). Relative scarcity: vintage cards remaining roughy same scarcity while dollars are becoming less scarce (Fed printing Trillions and looking to create new numbers after the word trillion). So inflation should help scarce assets.

Now, that said, if there could be a demand shock then rather than it coming from lack of funds from the <10%, I think it could come from people not collecting cards anymore due to sports becoming less popular going forward.

[perezfan]

I am already hearing that leaders of the progressive wing of the democratic party plan to place an exorbitant tax on individuals' assets. This is in addition to dramatically increased income taxes.

It has not been disclosed how they will uncover and determine the value of your assets, but I imagine lots of people will be trying to hide their respective net worth, and keep their assets as stealth as possible.

Regardless, personal property is a major entity that they're targeting. This will become much more apparent in the near future.

[Mark]

French-Revolution-Looting-1170x856.jpg

Originally Posted by perezfan

i am already hearing that leaders of the progressive wing of the democratic party plan to place an exorbitant tax on individuals' assets. This is in addition to dramatically increased income taxes.

It has not been disclosed how they will uncover and determine the value of your assets, but i imagine lots of people will be trying to hide their respective net worth, and keep their assets as stealth as possible.

Regardless, personal property is a major entity that they're targeting. This will become much more apparent in the near future.

[packs]

This article makes a lot of obvious points. The pool for yacht sales has always been small. The pool to buy a Cobb Green T206 has always been huge. I'm not seeing the correlation.

There are whale cards of course, but I enjoy the hobby because I (as a person with limited means) still have access to most of the cards I want to buy even with the limited funds I have. I just settle for lesser grades. There isn't really an equivalent of buy the card not the holder when it comes to mega yachts.

[samosa4u]

Originally Posted by packs

This article makes a lot of obvious points. The pool for yacht sales has always been small. The pool to buy a Cobb Green T206 has always been huge. I'm not seeing the correlation.

There are whale cards of course, but I enjoy the hobby because I (as a person with limited means) still have access to most of the cards I want to buy even with the limited funds I have. I just settle for lesser grades. There isn't really an equivalent of buy the card not the holder when it comes to mega yachts.

Agreed. I just don't see how any of the stuff written in this article can be applied to sports cards.

[Cliff Bowman]

Originally Posted by perezfan

I am already hearing that leaders of the progressive wing of the democratic party plan to place an exorbitant tax on individuals' assets. This is in addition to dramatically increased income taxes.

Those people and their donors are in the top .1%, they are going to have plenty of loopholes to exclude themselves and their cronies from their laws that they will enact on everyone else.

[Mark]

Originally Posted by Cliff Bowman

Those people and their donors are in the top .1%, they are going to have plenty of loopholes to exclude themselves and their cronies from their laws that they will enact on everyone else.

Several European countries imposed but later abandoned the wealth tax, in part because it was so difficult to determine someone's genuine wealth. At the same time, there may well be a strong desire in some circles to level things. It has happened before.

[packs]

Originally Posted by Mark

Several European countries imposed but later abandoned the wealth tax, in part because it was so difficult to determine someone's genuine wealth. At the same time, there may well be a strong desire in some circles to level things. It has happened before.

It has always been a part of economic recovery. We are doomed if we don't overtax the rich. History is supposed to teach you things. During the 50s and early 60s the top bracket income tax rate was over 90% and the stock market, economy, and middle class all boomed. If you're a boomer, you grew up in your childhood home because of this tax. Now those boomers are in government. You're supposed to learn from what worked.

[Hankphenom]

Originally Posted by perezfan

I am already hearing that leaders of the progressive wing of the democratic party plan to place an exorbitant tax on individuals' assets. This is in addition to dramatically increased income taxes.

"I am already hearing..."--pretty conclusive, huh? You do realize that the bulk of our enormous national debt was piled up by Republican administrations, don't you? Some people like stuff but just don't want to pay for it.

[perezfan]

Originally Posted by Hankphenom

"I am already hearing..."--pretty conclusive, huh? You do realize that the bulk of our enormous national debt was piled up by Republican administrations, don't you? Some people like stuff but just don't want to pay for it.

I wasn't opining on whether such a tax is good or bad. Just speculating that many will inevitably attempt to hide assets if/when that day comes. If you don't mind being taxed on personal assets, then it's all good. If you do mind, then I suppose it's bad. I personally see the merits of both sides.

[bobbyw8469]

Originally Posted by Hankphenom

"I am already hearing..."--pretty conclusive, huh? You do realize that the bulk of our enormous national debt was piled up by Republican administrations, don't you? Some people like stuff but just don't want to pay for it.

Because of Leon, I am gonna bite my tongue on this one. But I want to say something sooooooooooooo bad to this.

[vintagebaseballcardguy]

Originally Posted by bobbyw8469

Because of Leon, I am gonna bite my tongue on this one. But I want to say something sooooooooooooo bad to this.

The ignore button has worked wonders for me.

Sent from my SM-G960U using Tapatalk

[rats60]

Originally Posted by bobbyw8469

Because of Leon, I am gonna bite my tongue on this one. But I want to say something sooooooooooooo bad to this.

Just say the national debt was 10 trillion at the end of 2008 and 19.6 trillion at the end of 2016.

[timn1]

Originally Posted by bobbyw8469

Because of Leon, I am gonna bite my tongue on this one.

Good.

[steve B]

Originally Posted by perezfan

I am already hearing that leaders of the progressive wing of the democratic party plan to place an exorbitant tax on individuals' assets. This is in addition to dramatically increased income taxes.

It has not been disclosed how they will uncover and determine the value of your assets, but I imagine lots of people will be trying to hide their respective net worth, and keep their assets as stealth as possible.

Regardless, personal property is a major entity that they're targeting. This will become much more apparent in the near future.

Hopefully they'll base it on what I paid.... Otherwise I'm in huge trouble.

[sreader3]

I found that article pretty vacuous and uncompelling. A lot of heat, not much light.

[Rhotchkiss]

I bet the author is a real gas to hang out with; what’s his name, Chicken Little?

[AustinMike]

Originally Posted by perezfan

I am already hearing that leaders of the progressive wing of the democratic party plan to place an exorbitant tax on individuals' assets. This is in addition to dramatically increased income taxes.

It has not been disclosed how they will uncover and determine the value of your assets, but I imagine lots of people will be trying to hide their respective net worth, and keep their assets as stealth as possible.

Regardless, personal property is a major entity that they're targeting. This will become much more apparent in the near future.

Taxing individual assets is nothing new. It has been going on for ages. Ever since I bought a house I have been paying a "wealth" tax. It goes to county and city coffers. Even though it is listed as a fixed tax rate, it really runs from low to truly exorbitant. If you own your house outright, it is a smaller percentage of your "wealth." If you have a mortgage, it is a larger percentage of your "wealth" since your wealth does not include the entire value of the house (it will depend on the equity you have in the house). If you rent the house you live in, the tax rate is exorbitant. You are paying the tax through your rent and therefore you are paying the tax based on no equity in the house, i.e., "wealth."

[MattyC]

It's written by a fictional character. There's also a site manifesto. Why are we even wasting our time lol.

[Fred]

Correct me if I'm wrong, does that article indicate that there's a great possibility that when this economic house of cards finally collapses, then collectibles (such as sports cards and crap) will come crashing down also? If so, I can't wait!!! Only thing is what about hyper inflation? Does that come into play at all? Does that lesser "value" of a dollar mean that we'll be paying fewer or more dollars for deflated collectibles? There's a LOT of money sitting out there and it's not all in the stock market...

[Fred]

Originally Posted by MattyC

It's written by a fictional character. There's also a site manifesto. Why are we even wasting our time lol.

Because we're all knuckleheads that like to waste our time!

[topcat61]

Joe Tinker found this out the hard way. When he retired he became a multimillionaire through Florida real-estate and lost it all in the 1929 Crash.