Unrealized Capital Gains May Be Soon Taxed By The IRS

A new proposal to tax billionaires on their unrealized capital gains! Check out the video to learn more!

Welcome back to Bold TV with Philip Michael. Be sure to like, comment, and subscribe to Bold TV for other crypto news, and all things Bold.

The government is trying to find a way to tax the rich. One recent proposal recommends that the IRS tax unrealized capital gains. For example, when a Tesla stock rises and Elon Musk’s net worth goes up, as a result, the government can tax the amount of money he gained, even if he doesn’t sell the stock.

This is exactly how billionaires avoid taxes by keeping all of their money tied up in the stock market. The proposed tax will only apply to those who have over $1 billion in assets or anyone who has earned at least $100 million income for at least three years straight. Could they actually pass this measure?

Of course, the billionaires who do this, probably have other tax loophole strategies that they use. Also, if this applied to everyone, it would be a terrible idea. No one would be able to build any real wealth. Those who would be affected would definitely not be as drastically affected as the common folk who are usually paying most of the taxes. Or companies like Amazon having their consumers pay taxes but not paying their own.

Do you think they should tax billionaires on unrealized capital gains? Let us know in the comments below.

👇 FOLLOW PHILIP MICHAEL 👇

Instagram: @yfwtb

Twitter: @Philip_Michael

Subscribe to BOLD TV

Check out David Grasso’s podcast, Follow The Profit here

Are you ready to be BOLD? Check out our favorite articles:

SAY HI ON SOCIAL:

Instagram, Twitter, and Facebook: @boldtv