"The tax on unrealized capital gains"
October 27, 2021
Tyler Cowen asks some good questions about the rumored new proposal.
See also Stephen Green writing on Instapundit: "She [Nancy Pelosi] says it isn't a wealth tax and it will only hit the extremely wealthy so you know she's lying on both counts."
Related:
Op-ed in the Washington Post[!]: "Biden’s latest tax-the-rich scheme would be an unworkable and possibly unconstitutional mess".
Aswath Damodaran: "The Billionaire Tax: The Worst Tax Idea Ever?"
I am constantly amazed by the capacity of legislatures to write bad tax law, but this one takes the cake as perhaps the worst thought-through and most ineffective attempt ever, at rewriting tax code.
"The Many Problems With Taxing Unrealized Capital Gains".
"Taxing Unrealized Capital Gains Is a Nutty Idea".
"Biden-Wyden Wealth Tax Would Break Campaign Pledge, Run Afoul of Constitution".