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unrealized capital gainsMarketWatch
•60% Informative
Biden-Harris plan to tax unrealized capital gains is nonsense, says John Avlon .
Avlon: Almost every single thing I’m hearing against the proposal is wrong and an insult to our intelligence.
He says it would only apply to the tiny number of people who have a net worth of over $100 million .
He argues that taxing unrealized gains is somehow unfair because the investment hasn’t been sold yet.
Hedge-fund and private-equity managers benefit from the so-called carried-interest loophole.
This is a special tax break, just for them, that’s so outrageous that nonexperts refuse to believe it when you tell them about it.
As Warren Buffett has pointed out, these funds generate worse returns for investors than low-cost index funds.
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