This Is Insanity': Democrats Discuss New Tax Plan

Portland OR

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This Is Insanity': Democrats Discuss Their New Tax Plan to Help Pay for Massive Spending Bill All Paid for By You & your Children & their Children & their Children. Treasury Secretary Janet Yellen explained that the proposal, raised by Sen. Ron Wyden, D-Oregon, would impose an annual tax on unrealized capital gains on liquid assets of all Americans. The so-called “Billionaire Income Tax” is being written by Senate Finance Committee Chairman Ron Wyden (D-Ore.) with “input from the U.S. Treasury Department and the White House,” according to SWFI. When compared with the high tax-rate increases in the House bill, the emerging Wyden proposal would be significantly more progressive, Taxing unrealized gains is not just lunacy but straight up premeditated murder of our economy. The only people who won’t suffer as a result are the Political Elie's & their Corporate Oligarchs friends who‘ll buy up everything on the cheap. It’ll cause dependency at first and then revolution later. This is totality insanity. Taxing what is basically *theoretical* income before it’s actually income is nuts. Maybe try eliminating step up basis first. And carried interest. That would be a start. Unrealized gains on illiquid securities tax payers haven`t sold or profited from yet would be a unmitigated disaster. Proposing a tax on unrealized capital gains is insane. Imagine paying taxes on something you haven’t sold just to see it go down afterwards. I assume that means we can write off unrealized losses, right? Right! ? Like the house you live in now you bought a few years ago for $150,000 that`s now worth $4 or $500,00 or more you will pay that tax each year on what you would profit off it if you sold it today. Taxing unrealized gains is only minimally about taxation itself. That's not the bigger objective. Taxing unrealized gains grants the government the ability to monitor your each and every move you & your money makes or hasn`t yet made. “Unrealized capital gains” is not a thing; do not normalize it. Call it out for what they are proposing: unlawful seizure of personal property. So not only is Yellen lying when she says it isn’t a wealth tax, she’s lying when she says it will fall only on the “extremely wealthy for now, your next once they get their foot in the door.” We all know how greedy those in government can be in the wrong hands. Taxes "NEVER" go down they only clime higher when those in government think they have endless funds at you & your children to pay for it all ! The measure, which taxes corporations with more than $1 billion in annual profits at a 15 percent rate, was introduced by Sens. Elizabeth Warren (D-MA), Angus King (I-ME), and Ron Wyden (D-OR). This is their tax plan for us all proposed by our Oregon Senator Ron Wyden shows it`s time to replace this traitor who is selling out his voters !! Sad to say Ron Wyden uses to look out for & fight for the citizens of Oregon. Not anymore he has sold us out now that he no longer even lives in his home state of Oregon !! He is now just another Far Left DC Socialist that`s sucking Oregon`s dry for as much as he can get !! Only comes back when it`s time for your vote !!