It's more Wyden proposing that, and it's for high-income taxpayers. On paper, anyway, as if they pass this as legislation, there were be waivers for the elite.
If they were proposing this for everyone, including 401ks, it would wipe the entire thing out. Thankfully they're not proposing it - yet, as they really, really want to dip into people's retirement accounts, and taxing unrealized gains would be a fairly easy way for them to do it.
Good for him. Hope he saved for capital gains taxes in shorting. It’s high as hell.
Yup. And Biden even wants to tax unrealized capita gains (for the peasants, I’m sure the fat cats get a pass).
It's more Wyden proposing that, and it's for high-income taxpayers. On paper, anyway, as if they pass this as legislation, there were be waivers for the elite.
If they were proposing this for everyone, including 401ks, it would wipe the entire thing out. Thankfully they're not proposing it - yet, as they really, really want to dip into people's retirement accounts, and taxing unrealized gains would be a fairly easy way for them to do it.
Only Satan himself is more evil than a wealth tax.