AdvertisementA proposal from Sen. Ron Wyden (D-Ore.) targets investments, such as stocks, held by billionaires. Republicans want billionaires’ assets to be left alone because, they argue, the tax may not be easy to implement. The tax would be novel, since as it stands now, the federal government only taxes income. “So much for the quaint idea that you had to actually make money first before the IRS could tax it. “There’s just so many simple things that apparently we can’t get consensus and the party to do, so we’re left with this idea that we’re going to tax unrealized gains,” Himes said.

Source: Huffington Post October 27, 2021 06:23 UTC