Commie-la’s Unrealized Gains Tax

Date:  August 22, 2024

Taxing unrealized capital gains taxes Americans on money they haven’t made and may never make. What about unrealized losses?

Taxing unrealized gains would mean Americans would owe taxes on the appreciation of their home every year.

Sean Davis of the Federalist explains: I don’t think people fully appreciate how communist and evil an unrealized capital gains tax is.

Understand that government controls asset prices via its control of the money supply: if it wants asset prices to go up, all it has to do is print money. Which means all a corrupt government needs to do to destroy you with a massive tax bill on unrealized gains is to print a crap ton of money, create massive asset inflation due to the deliberate devaluation of the currency, then bill you for the asset bubble it created.

If you bought a house for $200k, and the government fires up the money printer to juice asset prices resulting in your house being worth $600k, you now have $400k in unrealized gains the government can tax you on.

At a 25% tax rate, which is what Kamala Harris proposed, you now owe $100k in taxes in year one. After two years of that, your tax liability will be higher than what you paid for your house.

If this sounds insane, it’s because it is insane. Communism is insane. And yet it’s exactly what’s being proposed at Commie Con 2024, otherwise known as the Democrat National Convention.

Article posted with permission from Pamela Geller

The Washington Standard

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