This is a bad idea
October 27, 2021
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8:02Now PlayingThis is a bad idea
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as posted by the channelPresident Biden’s big social spending bill will cost a lot of money. The current plan to squeeze that money from the very wealthy, through a change in the tax code that would reinvent how the government taxes capital gains.
The idea is to tax unrealized capital gains, i.e. to tax people that don't sell their stock. Treasury Secretary Janet Yellen said in an appearance Sunday on CNN, “It would help get at capital gains, which are an extraordinarily large part of the incomes of the wealthiest individuals, and right now escape taxation.” but I think it won't work, probably.
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