They will take 20-37% of the positive change in value. The initial hit will be huge because it represents many years of value change (I've lived in this house since height of the recession and bought it after the previous owner was foreclosed on).

But yes there are many scenarios where with this policy (if you don't sell) the asset will be worth less than taxes either paid or owed.

With my house I paid $400k and it is worth $1.5M now thanks to Trump's economy. The change in value less $500,000 for married filing jointly would be the amount taxed at capital gains rate upon sale. But if this policy goes through it will be taxed at the same rate even if I don't sell ($120,000-222,000).

It will cause a lot of selling activity which will devalue assets right after they were taxed at a higher market value.

But hey the government did give us $600 one time, so that should cover part of it.

They will take 20-37% of the positive change in value. The initial hit will be huge because it represents many years of value change (I've lived in this house since height of the recession and bought it after the previous owner was foreclosed on).

But yes there are many scenarios where with this policy (if you don't sell) the asset will be worth less than taxes either paid or owed.

With my house I paid $400k and it is worth $1.5M now thanks to Trump's economy. The change in value less $500,000 for married filing jointly would be the amount taxed at capital gains rate upon sale. But if this policy goes through it will be taxed at the same rate even if I don't sell ($120,000-222,000).

It will cause a lot of selling activity which will devalue assets right after they were taxed at a higher market value.