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There appears to be no Biden-Harris policy proposal too cuckoo-for-cocoa puffs for the well-oiled Soros machine to spin as a stroke of genius to manipulate its media coverage in a positive light. The Center on Budget and Policy Priorities (CBPP), fueled with $6,230,000 by leftist billionaire George Soros between 2016 and 2022, pathetically attempted to swat down opponents to the Biden-Harris unrealized capital gains tax proposal for the 2025 budget. “Arguments Against Taxing Unrealized Capital Gains of Very Wealthy Fall Flat,” read the Sept. 11 CBPP headline. If that wasn’t bad enough, the CPBB played word games by spinning that...

Billionaire Mark Cuban acknowledged that Vice President Kamala Harris' plan to tax unrealized capital gains would "kill the stock market," while insisting that she won't go through with it as dubious CNBC hosts pushed back in a contentious interview Thursday. Cuban joined CNBC's "Squawk Box" on the phone to discuss his support for Harris, revealing that he regularly communicates with her campaign to advise on economic issues. The interview took a turn when Cuban was asked about the Biden administration’s proposal – which the Harris campaign has indicated it supports – to tax investment returns that have not yet been...

Some ideas are like horror movie villains. They’re dangerous, and no matter how many times they’re defeated, they never seem to die. The misguided idea of taxing unrealized capital gains is back on the scene. Sen. Ron Wyden, D-Ore., floated a proposal to tax unrealized capital gains in 2021. It was widely debated in 2022, when Congress was considering a multitrillion-dollar tax and spending package. Opposition from Sen. Joe Manchin, D-W.Va., to taxing income before it’s earned helped defeat the idea then. But the idea was far from dead. President Joe Biden included a version of the tax in his...

The Supreme Court ruled Thursday that a part of President Trump's 2017 'Tax Cuts and Jobs Act' that levied a tax on capital appreciation is constitutional. Justice Brett Kavanaugh wrote the majority opinion. Justices Clarence Thomas and Neil Gorsuch dissented. The court ruled 7-2 that the mandatory repatriation tax, or MRT, is constitutional under the taxation regimes defined in Article I and the 16th Amendment. In short, the MRT imposed a one-time requirement for US citizens and companies to repatriate money held overseas.In 2005, Charles and Kathleen Moore invested $40,000 in an Indian business named KisanKraft, which marketed power tools...

Home | Politics Tags: Joe Biden | congress | budget | billionaire tax | biden Democrats Unveil Billionaires' Tax as Biden Plan Takes Shape ron wyden speaks to press Sen. Ron Wyden, D-Ore., speaks to reporters about a corporate minimum tax plan at the U.S. Capitol Oct. 26, 2021, in Washington, D.C. (Drew Angerer/Getty Images) Wednesday, 27 October 2021 07:58 AM facebook twitter Comment| Print| A A Pushing past skeptics, Senate Democrats on Wednesday unveiled a new billionaires’ tax proposal, an entirely new entry in the tax code designed to help pay for President Joe Biden’s sweeping domestic policy package...

Senior Democrats confirmed that a proposal to tax billionaires’ unrealized capital gains will likely be included in President Biden’s $2 trillion spending package.Treasury Secretary Janet Yellen explained on CNN Sunday that the proposal, raised by Sen. Ron Wyden, D-Oregon, would impose an annual tax on unrealized capital gains on liquid assets.“I wouldn’t call that a wealth tax, but it would help get at capital gains, which are an extraordinarily large part of the incomes of the wealthiest individuals and right now escape taxation until they’re realized,” Yellen said.The tax is expected to affect people with $1 billion in assets or...