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

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Someone ELI5 and help me out here.

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The easy part is: taxing unrealized gains is well outside the scope of the 16th Amendment (per SCOTUS precedent and common sense). As such, if Congress passed such a bill and the President signed it into law, it would get stayed within 1 second of signing by the metric fricktons of lawsuits against it.

Another aspect of this is that one of the big ways members of Congress make millions is through their backdoor-legalized insider trading (meaning they are stock-wealthy), They aren't going to vote to cut their own fiscal throats.