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Thread: Billionaire Income tax
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Old 04-03-2022, 02:23 PM
Stu from NYC Stu from NYC is offline
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Originally Posted by Pinball wizard View Post
One of the biggest problems with the bill (IMHO) is taxing unrealized gains. Quote taken from NYTIMES

"...billionaires would face a tax on the unrealized gains in the value of their liquid assets, such as stocks, bonds and cash..."

How long do you think it would take to push this down to you and me. Imagine having a nice gain in your retirement portfolio and having to sell some to pay the "unrealized gains tax".
Agreed. How can they tax paper profits as income? When the stock market goes down they going to accept tax losses? Of course not.