Top Democrat (Wyden) Proposes Annual Tax on Unrealized Capital Gains

Wall Street Journal ^ | April 2, 2019 | Gabriel T. Rubin

[Salvation]

If you would like more information about what's happening in Oregon, please FReepmail me.

[gundog]

How about tax credits for unrealized losses, Ron?

[headstamp 2]

How about writing off unrealized losses to counterbalance my unrealized gains? LOL

Welcome to liberal fantasy land.

[Texas resident]

A LOT of Wall Street big wigs are democrats. And they donate to the dim politicians.

[Texas resident]

Bingo. Land owners would be screwed.

[Texas resident]

A friend of mine moved here from The Netherlands because of this kind of taxation. His father retired from a machinist job, but his country levied a tax on him yearly on his assets. (Tangible and non tangible assets.) He had to start selling his assets to pay the taxes. Eventually he had nothing left and became a govt dependent having to live on what ever scraps they threw at him.

And because he came here legally, it took him 14 years of hearings and LOTS of money.

[A Voice]

“Home sales prices in Reno this year over last year—month to month== over 40% higher.

IF I have a house & I don’t want to sell it, I will have to pay a tax on ‘perceived’ increased value because the guy next door sold his house? !!!!!!”

Have this same crap going on in Texas..... acquaintance has a mobile home that was appraised at over 80,000. This is a single-wide in a depressed area. She fought with the appraisal office with pics and other evidence showing the various problems with the home to no avail and finally told them if it is worth over 80k then buy it from me cause I’ll sell it. The home is a disaster and not “worth” anywhere near 80k.

[Svartalfiar]

It is a stupid idea. But you could pay the tax from cash on hand without having to sell any stocks.

IF you have the cash on hand. The majority of people don't have enough savings to pay their tax bill come tax time, what makes you think they would have the cash on hand to add in a couple hundred to several thousand of additional tax?

All this would do is further separate the wealthy from the poor, as the wealthy have the means to easily pay the taxes, while the poor/middle class don't have the extra liquidity to pay , thereby pushing them out of investing. Not to mention the extra 'income' tax from your property values going up, or anything else you have of decent value adding in even more fake 'income'.

Because, you know, there's no way you'll be able to deduct depreciation of any other assets like vehicles or lawn mowers or tools or cookware or appliances or etc, etc.

[rdcbn]

It’s not the rich fat cats who control the majority of stocks, it institutional investors managing pension and retirement funds.

So just who is going to be taxed on this, I wonder

[Eleutheria5]

Even worse, you watch re-runs of-—GASP! ORGAN MUSIC! GASP!—Roseanne, and her personal You Tube channel. Don’t you! Don’t you! You fiend!

[Eleutheria5]

Just wait ‘til the EPA declares your northern 40 a wetland.

[conservatism_IS_compassion]

Horrible idea, taxing unrealized gains.

. . . and considering that capital gains represent the sale of

• anticipated future revenue,

• which will be taxed as ordinary income when as and if they materialize,

taxation of any capital gains, even if realized, is problematic.

Which is why cutting the capital gains tax rate has never in history resulted in a decrease in capital gains tax revenue.