[sparklite2]

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

[irishjuggler]

Well, that would depend on how large your gain is and how much cash you have on hand, right? It’d be highly likely that many, many people would indeed be forced to sell assets to pay Wyden’s stupid tax because their unrealized capital gain exceeds their cash horde. . Thank God we have a Trump as a back stop at the moment against this sort of asinine idea. Also, I’d like to know this Wyden’s plan works in reverse. Are there tax credits and/or deductions for unrealized capital losses, too? If not, why not?

[neverevergiveup]

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

This is more than stupid. It's outrageous. You pay taxes before you invest your money, and then you are going to be taxed again if your investments pay off? Stocks go up and down, so it is very possible that you would pay tax on unrealized capital gains that then go away and are never ‘realized’.

This is just the same old ‘punish the successful’ and pander to the envious democrat bs. If the government can step in and take what they want from you, what is personal property? How is this a free nation?

[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.