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Top Democrat Proposes Annual Tax on Unrealized Capital Gains

posted by martyb on Sunday April 07 2019, @12:19AM   

An Anonymous Coward writes:

April 2, 2019

Sen. Ron Wyden of Oregon, the ranking Democrat on the Senate Finance Committee, announced today that he would soon release a proposal to eliminate massive tax breaks enjoyed by the wealthy on their capital gains income. If successful, the proposal would ensure that income from wealth is taxed just like income from work.

His plan, which he has promised to flesh out in a white paper in the coming weeks, would tax the appreciation of assets owned by the very wealthy as income each year, an approach known as mark-to-market taxation. It would also subject that income to ordinary tax rates rather than special, lower income tax rates that apply to capital gains.

https://itep.org/sweeping-reform-would-tax-capital-gains-like-ordinary-income/
https://www.wsj.com/articles/top-democrat-proposes-annual-tax-on-unrealized-capital-gains-11554217383

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Original Submission

• Re:Better idea: (Score: 1) by khallow on Tuesday April 09 2019, @01:59AM

  by khallow (3766) on Tuesday April 09 2019, @01:59AM (#826508) Journal

  with a few degrees Celsius change, all that methane under Siberia and Alaska and trapped in clathrates in the oceans is going to fart itself back into the atmosphere

  How many such degrees? I notice that most of that sort of research ignores the water that's been thrown on the ocean deposits. Higher pressure means higher temperature required till something happens.

  Imagine what happens if the US Midwest becomes an arid desert and Russia suddenly gets, in the form of Siberia, the world's largest stretch of arable land.

  I can imagine all kinds of things. But what's actually going to happen? Maybe we should start thinking about that instead.

  Parent