Guest Post by Paul Craig Roberts
Biden Wants To Tax Income That You Don’t Have
Paul Craig Roberts
The White House Moron wants to tax unrealized capital gains, and some neoliberal economists think it is a good idea.
Let’s take a look and see what we think.
A capital gain is an increase in the price of something since you purchased it. It could be a stock, a bond, a house, artwork, gold, silver, anything for which there is a market. An unrealized capital gain is a paper gain based on the day’s price. It is not income and it is not wealth until it is realized. You realize it by selling the item, thereby having the money in your possession. An unrealized capital gain is a potential possession.
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