Dems plan billionaires' unrealized gains tax to help fund $2T bill (nypost.com)
No nation on earth has ever had the audacity to attempt to tax unrealized capital gains. Why? Because it’s theft, that’s why. There’s no other word for it.
What are unrealized capital gains? Imagine this scenario.
You buy $1000 worth of stock. The stock skyrockets. A few days later it’s worth $4000. You either aren’t paying attention, you think it’s still going to go a little higher. A few days later the stock is again worth $1000. You didn’t make any money, because you didn’t sell. You didn’t realize the gain.
If the Democrats plan goes through, you will now owe taxes on the $3000 you never saw. This will literally bankrupt people and businesses.
This may be the dumbest idea Democrats have ever had, and that’s saying something.
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