Yellen talks taxing UNREALIZED capital gains on wealthy to help finance Biden’s spending plans

Appearing on CNN, Treasury Secretary Janet Yellen discussed the possibility of taxing UNREALIZED capital gains from wealthy individuals to help finance Biden’s spending plans.

“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.

Cardano founder Charles Hoskinson wrote “Taxing unrealized capital gains. Also known as how to burn your nation down in 60 minutes.”

Ricky Lavina wrote “This makes no sense. How do you tax something that isn’t yet realized? What if the value drops 100% the following year?”

Ben Shapiro commented “This is insanity.”

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