“unrealized gains of liquid assets such as stocks.”
We all know why that is unworkable. Suppose your asset doubles and you pay a HUGE tax on that phantom gain. Then the asset goes underwater and you have ZERO net gain but the GD government still has your tax money.
Does the government refund you the tax you paid on that phantom gain?
What's more is that once you actually do sell and realize some sort of gain, what portion of that gain would be taxable? All of it (again!)? Some of it? How would that be calculated?
This budget idea is so bad, the document should just be marked as 'dead on arrival'... it needs to be cremated immediately.