U.S. billionaires would pay tax on unrealized gains from their assets to help finance President Joe Biden's emerging social-policy and climate-change legislation, according to a proposal unveiled on Wednesday by the top Senate Democrat for tax policy.
Semi-based, shame it will die somewhere in a committee
It will never pass.
And even if it does, it'll only be a minor increase.
And even if it's a large one, billionaires will use loopholes to fully avoid taxes on it.
And even if they don't, it'll get repealed in a few years by the next president.