I get it, it's a tax on paper. The hypothetical profit to be made if your were to liquidate a hard asset would considered taxable income even though nothing yet to come in. In short getting taxed on something you don't yet have and may never actually get.

This is kommieala's tax policy.

Could I get some of our investment and economic gurus to chime and explain just how evil this would be?

And, yes, it would apply to your antique trap or gun collection.

They have kinda been doing that to Buy here Pay here car guys for a while now. They have to pay tax on the total amount they sell the car for, even though it may take 2 years to collect the money, if ever.

Of corse they can deduct the amount they don’t collect if the deal goes bad. But paying up front on money you may or may not realize is nutz imo.

They will never have enough money. It only gets worse.

Everybody will start selling so they are only taxed once. Once it catches on there will be no buyers. The government will receive even less money than they do now. I reckon blood will be running in the streets by then.

Over time you will own nothing because you can never pay all the tax you would owe on unrealized capital gains plus you would have to pay penalties and interest. This would be a yearly tax on your house, property, 401K and investments.

Of course in the Democrats eyes anyone who plans ahead, works hard and saves up a stash of cash or other assets, is a rich guy and must be punished. You want to see production drop fast, just implement her economic ideas. Moronic.

That is the idea, there is a large section of democrats and their supporters that want zero growth in population, in the economy and generally every aspect of society, they want you to live in one small area never travel outside it especially without permission and basically own nothing

I first hear this 40 years ago in college from a leftist professor who was lecturing us on economics and the perfect society and it’s grown and gained momentum

Just google Zero Growth economy or Degrowth economy

I would think land would be an issue, as a person could pay 3000 an acre then in a few years it maybe 15000 so you would pay gains tax on that gain but then in a few years it could be 3000 an acre again so that would be an issue and I doubt you could get a refund.

Nightlife isn’t that part of the definition of communism.

Be hard to figure gains that are not realized. or losses not realized. Seems that it would get real confusing. Seems simpler to just tax the realized losses or gains.

I dont think simple is the goal. They want to take money from those that have saved and invested and give it to those who have not. And they want to do it now rather than want until gains or losses are realized.

So whose plasma gets spilled, the takers or the recipients?

Everything is gonna be ok.

Well, at least for the 99% of us that don't have 100 million in assets.

Pretty much but this is a blending of the extreme socialist agenda and the extreme green agenda and these are also the people that want to do away with money and all personal property after all you do t need money the government will provide everything you need

I used to wonder where these people would get the food for everyone and surprise here comes bill gates and his push for eating bugs and his push for bug farms

The short term socialist goal is to destroy the wealthy and insure that no one else make it to millionaire status, these people hate it that a large amount of people have managed to become wealthy through the internet and in their view there also undeserving unlike those elite politicians that know what best for us

No they want to level everyone to having nothing but the basics all provided by the government

Doubt this will ever fly. Hope not anyway. Terrible idea.

Um, family farms, homes, businesses and the mundane assets of the 99%.

Will unrealized losses be able to be written off?


It’s the stupidest thing EVER!!

"Biden’s Treasury Department said it’s proposing “a minimum tax of 25 percent on total income, generally inclusive of unrealized capital gains, for all taxpayers with wealth (that is, the difference obtained by subtracting liabilities from assets) greater than $100 million.”"

Source: Market Watch.


"The Harris-endorsed budget calls for an annual 25 percent minimum tax on the unrealized gains of individuals with income and assets exceeding $100 million."

Source: Americans for Tax Reform