Billionaire's Tax Affects Wealthy
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unrealized capital gainsInvestor's Business Daily
•What's the Billionaire's Tax? Here's what you need to know
69% Informative
A Democratic proposal would tax unrealized capital gains on assets that haven't been sold yet.
The proposal is part of the Biden administration's push for the uber-rich to pay a minimum 25% tax on their income.
Centimillionaires with assets totaling $100 million or more would be affected.
Critics say it's only a matter of time before the current $100 million threshold would be lowered.
"It won't be long before the threshold is lowered to hit more and more Americans ," group says.
Supreme Court decision in Moore v. United States muddied the waters.
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