Beltway Confidential

Democrats’ wealth tax idea falls short with some wealthy liberals

By Ryan Ellis
Published November 24, 2021 3:54pm ET
Add Washington Examiner on Google
Democrats’ wealth tax idea falls short with some wealthy liberals
Democrats are considering a tax on unrealized capital gains to help finance their multitrillion-dollar spending plan. An unrealized capital gain occurs when an investment increases in value but one chooses to hold it rather than actually sell it. Democrats want anyone worth more than $1 billion or who makes more than $100 million per year […]

Democrats are considering a tax on unrealized capital gains to help finance their multitrillion-dollar spending plan.

An unrealized capital gain occurs when an investment increases in value but one chooses to hold it rather than actually sell it. Democrats want anyone worth more than $1 billion or who makes more than $100 million per year to pay a tax on that theoretical income. This policy proposal has drawn high-profile criticism, including some colorful pushback from SpaceX and Tesla CEO Elon Musk.

Print subscriber? Click here to login/register your account
Digital subscriber? Click here to login/register your account.

Trusted reporting.Unlimited access.

Subscribe for full access to Washington Examiner coverage, expert political analysis, and subscriber-only journalism.

Get Unlimited Access

Already a member? Log in

Cancel anytime.

Tag:

Ron Wyden Taxes