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

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WTF do these people think the economy would do if they taxed unrealized gains?

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Their tax policy completely ignores economic effect, it’s strictly based on revenue. And the dumbass dem voters will cheer it on, completely oblivious tot he fact that their party is backed by the majority of “rich” people, and that our country has borrowed to the point where no serious argument can be made that our budget has a revenue problem.

What’s the plan with unrealized losses? Seriously, losses on capital assets, particularly ones that are traded are two sides to the same coin.

The entire plan is fricking stupid. Especially targeting “rich” people. They will game the system so damn hard the normal investors will be at an even greater disadvantage.

The whole concept of taxing something based on worth is a pretty scary precedent. Most people think in terms of public markets and sales, but the vast majority of wealth is held in private investments. Once they get a taste, they will want more, look no further than this proposal.

They could just say “all of our richest supporters are donating their assets to the state” but that’s not what will actually happen even though that’s what this attempts to accomplish