[Blood of Tyrants]

I'm pretty sure that this would be an unconstitutional taking.

The "scofflaws" that the DemocRats want to go after are you because you didn't report that $600 you made when you sold your used living room suite.

[Captain Compassion]

Questions. I have questions.
1. How will these un realized gains be valued?

2. If they are taxed now will there still be a capital gains tax when they are sold?.

3. What if someone pays taxes on unrealized gains no but the investment actually sells at a loss. Does the investor get a tax credit?

[BobL]

I’ll let others here DEFEND these billionaire animals - personally, I’d like to see ALL their wealth seized.

https://freerepublic.com/focus/f-news/4007211/posts

[jughandle]

“.. pay taxes on the gains of stocks and other tradeable assets, rather than waiting until holdings are sold.”

And of course tax them again when sold.

[asinclair]

If a tax on unrealized gains fails, there is another avenue that has precedent in existing law: require that people over the threshold have to sell 3 percent of their portfolio each year, and take the gains/losses at that time. The proceeds of the forced sale can be put back in the market without restriction.

(The precedent? The required distributions from IRA and 401(k) instruments. I found out you can put the money right back into a retirement vehicle, and it meets the letter of the law.)

The victim gets to choose which parts.

That's OK for people who trade in financial markets. It's not OK for people who trade in collectibles.

Hey, I didn't say this was a GOOD idea, just an alternative to the present BAD idea -- which is just as bad, frankly.

[ridesthemiles]

This “Plan” would require access to all balance sheets & would require Certified APPRAISERS to accomplish such a tax.

[minnesota_bound]

Soros owes some $1.6 billion to the IRS which he has been fighting for years. Maybe Biden can ask him to pay up?.....