kyzr
Diamond Member
If democrats win in November, the IRS will be going after unrealized gains. Is this even constitutional?
www.forbes.com
The policies proposed in the FY2025 budget target extremely high-net-worth individuals and entities, attempting to ensure wealth accumulation through investment is looped in to the taxable base—even when those investments are not sold. The general principle behind equitable taxation is that a broad base is to be preferred over higher rates—in other words, increasing tax revenue without imposing additional burdens on middle and lower income brackets, merely reshuffling the deck so higher income earners are taxed under existing rate structures.
Among the proposals is a plan to tax the unrealized gain on a trust, partnership or other non-corporate entity that has not been subject to a recognition event in the previous 90 years—something of a one time tax true-up for complex tax structures that are and have been growing untaxed for generations.
![www.forbes.com](https://imageio.forbes.com/specials-images/imageserve/663118eddbeeadd5fb6c8bed/0x0.jpg?format=jpg&height=900&width=1600&fit=bounds)
Unrealized Gain Tax—A Coming Sea Change in FY2025 Budget Proposal?
Among the most striking initiatives in the FY2025 Budget Proposal is a set of proposals taxing unrealized gains—a concept generally absent in tax frameworks due to val...
![www.forbes.com](https://i.forbesimg.com/48X48-F.png)
Among the proposals is a plan to tax the unrealized gain on a trust, partnership or other non-corporate entity that has not been subject to a recognition event in the previous 90 years—something of a one time tax true-up for complex tax structures that are and have been growing untaxed for generations.