Critical of tax proposal
To the editor: The Biden/Harris administration is positing the idea of raising revenue by taxing unrealized capital gains. This would entail taxing speculative investments the amount they appreciate even if they’re not sold and no profit is actually realized. If taxing unrealized capital gains were implemented, how long would it be before a voracious government decided to tax the unrealized gains on your 401k and IRA? Of course they say that this tax would only be on the “super wealthy,” but we must not forget that when the income tax was inflicted on Americans in 1913 a married ...