Dems want to tax unrealized investment gains!

[DGUtley]

Dems want to tax unrealized investment gains! President Biden said Friday he supports a Democratic proposal to tax billionaires annually on their unrealized investment gains.


D987A58D-CB9F-4C90-9FEE-C5C5CC216554.jpeg


Senate Finance Chairman Ron Wyden, D-Ore., has pushed for years to enact the proposal, which is one of several under consideration as part of Democratic efforts to cover the costs of Biden’s $3.5 trillion budget reconciliation bill.

"Yes, I do," Biden said during a press conference. "Look, I support a lot of these proposals. We don’t need all the things I support to pay for this, but I do support that."

The proposed change would require the wealthiest Americans to pay an annual tax on any gains in their asset portfolio, rather than after the assets are sold. Democrats argue the tax on unrealized investment gains and similar proposals would ensure all Americans pay their fair share, while critics say Wyden’s plan would be invasive and difficult for the IRS to implement.


C30EE1F6-0C4E-4A55-9C2E-0D085BE36FCF.gif


1EB20F57-320F-49C7-A6A9-54698DA38993.gif


E8FB6D8F-0771-481F-8A54-FB64A7D2337F.gif


768690AD-09E5-40B1-ADD6-79ABA7C9541E.jpeg


https://thehill.com/policy/finance/5...gains-annually
https://www.foxbusiness.com/politics...vestment-gains

[Chris]

That's nuts. They want to tax gains not yet realized, gains that, the way the market fluctuates, might be losses tomorrow. Like my retirement investments.

[DGUtley]

Exactly. In the last two or three weeks I’ve lost a substantial amount of unrealized gain but I’ve clawed back about 40% of it so far. Crazy. But, as you know, their thirst for your money never ends