You ready to pay Kama-Kama-Chameleon's 25% tax on the ultra-wealthy's unrealized capital gains?

[AntonToo]

Where does it say only gains from Jan 1st the previous year?
It doesn't.

Thats how income taxation works dum dum.

If they wanted to tax all prior year unrealized gains then they would SPECIFICALLY SAY SO in the proposal.

 

[Toddsterpatriot]

Thats how income taxation works dum dum.

If they wanted to tax all prior year unrealized gains then they would SPECIFICALLY SAY SO in the proposal.

It says "unrealized capital gains", not "only last years unrealized gains"

 

[AntonToo]

It says "unrealized capital gains", not "only last years unrealized gains"

AS PART OF ANNUAL TAX LIABILITY, that applies to income during the year, not income in other years.

The context is clear and there is no indication in proposal it would work much differently from any other income.

Insistance that this tax is meant to apply to gains in years prior to the new law is baseless.