“Well, that will stop investments. Is that their goal?”
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Why would it stop investments? You can’t just hide your Euros under the bed.
I am not going to purchase stock and pay tax on their gains until I cash out.
Such “tax unrealized gains” proposals are effectively property taxes.
Your vested interest becomes: You are land poor. That is a form of the government taking your land.
Pacific Palisades - the government arranges “land poor” followed by takings.
Large wealth real estate syndicates fund politicians . . . and eventually gain rights to development and income.
So, effectively, your capital is taken and moved into the hands of others who will fund socialism, in exchange for their profit and tax sheltering - NOTICE IN THE PROPOSAL, EXEMPTION FROM THE UNREALIZED GAINS TAX.