Biden proposed 44.6% Capital Gains tax, 25% tax on Unrealized Gains

Why would it not pass? Who is there to stop it?

Unrealized capital gains.

God I grow to hate this country more and more by the day. How is this even a remote possibility? What the hell have we become?

Lazy post. Very misleading without the limits. Only applies to income over $1M. Doubt it passes,but expect a watered down version sometime soon.

Won’t just the possibility of this drive a lot of selling in 2024? What am I missing? This clown president is really trying to tank the country isn’t he?

Moore vs United States will eventually settle this, but if we go off of Eisner v Macomber (which has already been used in previous Moore arguments), then gains aren't considered taxable under the 16th until they become realized. In other words, any talks of or attempts to tax unrealized gains are legally DOA.

Taking Eisner as the precedent, if the federal government actually passed a law taxing unrealized gains, once the case was decided by SCOTUS then the federal government would be on the hook for returning all of that money to the infringed tax payers.

So, we will tax you at a rate of 25% on your unrealized gains, then when you take out the funds you get to pay us 44.6%?

Their are certainly some rationales out there for increasing the capital gains tax in certain situations. You really can't use the "job creation" argument when a very wealthy person is getting all their capital gains from stock trading.

That individual is, to me, very different from the guy who starts his own business, employs a bunch of people he hires, and then sells the business when it's time to retire.

Taxing unrealized capital gains has got to be one of the single dumbest ideas I have ever heard of, not to mention an absolute nightmare to administer.

You can get away with it one time (such as estate taxes) because it is a snapshot.

People will say, oh, well we have mark to market election, this is no different. Mark to market is only used by basically day traders, so the reverse out from unrealized to realized when sold is quick and easy.

Trying to do this with long-term holders would be an absolute disaster.

Taxing unrealized games has to be unconstitutional.

This will be beat back, but it telegraphs the Democrats true desire.... the end of private property rights. That is where wealth taxes ultimately end. The state owning everything, and allowing the populace sustenance.