US Treasury Secretary, Janet Yellen, suggests imposing a tax on unrealized capital gains. This means stock gains will be taxed even when they have not been sold. It also means that taxes will be owed when the value of a home appreciates, even though it has not been sold.

submitted by magnora7 from twitter.com

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[–]Jesus 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (2 children)

Great.

This will only effect about 700-1000 of the wealthiest Americans.

[–]magnora7[S] 6 insightful - 2 fun6 insightful - 1 fun7 insightful - 2 fun -  (1 child)

Until the next revision expands it to the top 1%, then the top 10%, then the top 50%, and suddenly it's a vehicle to destroy the middle class. Just like all the other tax increases of the last 40 years basically

[–][deleted] 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (0 children)

our taxes have gone up cuz of local property taxes to fund schools, not the fed govt, tho that is an important problem