If you own a house and have a 401k/IRA, you have unrealized capital gains. So, let’s say you bought your first home for $80,000 in 1990 and it’s worth $400,000 today. EVEN IF YOU DON’T SELL IT, THE DEMOCRATS WANT YOU TO PAY CAPITAL GAINS ON THE $320,000 YOU THEORETICALLY GAINED.
KEEP IN MIND-—THEIR APPRAISERS are doing the valuations.