Taxing Unrealized Capital Gains: A Socialist Crime
Marinus van Reymerswaele, Public domain, via Wikimedia Commons
Kamala’s populist, socialist policies extend to taxing unrealized capital gains. Ostensibly, you would pay taxes on the increase in value of your stock portfolio or your home, even if you did not sell it.
Will she also give a tax credit if your house goes down in value?
Taxing unrealized capital gains is a violation of personal property rights, discourages saving and investing, and could force people to sell their homes if they lack the liquid funds to pay the tax. Taxing unrealized capital gains means imposing a tax on the increase in the value of an asset that a person owns, even if the asset has not been sold.
