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Thread: Dems want to tax unrealized investment gains!

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    Exclamation Dems want to tax unrealized investment gains!

    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.


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    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.


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    https://thehill.com/policy/finance/5...gains-annually
    https://www.foxbusiness.com/politics...vestment-gains
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    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.
    Experience should teach us to be most on our guard to protect liberty when the government's purposes are beneficent. Men born to freedom are naturally alert to repel invasion of their liberty by evil-minded rulers. The greatest dangers to liberty lurk in insidious encroachment by men of zeal, well-meaning but without understanding.
    Louis Brandeis,Dissenting, Olmstead v. United States, 277 U.S. 438, 479 (1928)

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    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
    Any time you give a man something he doesn't earn, you cheapen him. Our kids earn what they get, and that includes respect. -- Woody Hayes​
    "I believe there are more instances of the abridgement of freedom of the people by gradual and silent encroachments by those in power than by violent and sudden usurpations." -- James Madison
    The Columbia Journalism Review describes Media Bias/Fact Check as an amateur attempt. https://www.cjr.org/innovations/meas...s-partisan.php

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