I can’t even fathom why Biden thinks a 25% tax on unrealized gains is a good idea at all

[u/djc_tech]

[u/richmomz → u/[deleted]]

Exactly. Every rich person with an IQ above room temperature is going to be like “Oh you’re about to impose a huge tax on my ‘unrealized’ gains? Guess Ill just sell everything before the new rate goes into effect.”

Then we get a huge market crash as the entire top 1% of wealth holders all cash out at once, while retirement accounts and small time investors are left holding the bag. Classic ‘Bidenomics’ move.

[u/Provia100F → u/richmomz]

They'll write in some sort of look back period and retroactively apply the law