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

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.