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zzmocashzz

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  18. Master stock pick thread

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     Lawmakers are considering taxing the unrealized capital gains of billionaires as a way to raise money to help pay for President Joe Biden’s broad social and climate spending plans, Treasury Secretary Janet Yellen told CNN’s “State of the Union” on Sunday. Sen. Ron Wyden (D., Ore.), the head of the Senate Finance Committee, is working on the plan, which would put a tax on the unrealized capital gains on liquid assets held by “extremely wealthy individuals, billionaires,” Yellen said. She said it’s not a wealth tax, but would help target “an extraordinarily large part of the incomes of the wealthiest individuals” that isn’t taxed until those assets are sold. Wealth in the form of unrealized investment gains often is also passed along to heirs tax-free, a loophole some lawmakers are also examining. The Washington Post reported the billionaire tax proposal would affect the fortunes of America’s roughly 700 billionaires. Democrats are seeking alternate funding for Biden’s bill after Sen. Kyrsten Sinema (D., Ariz.) said she opposed raising taxes on the largest corporations and wealthy Americans.

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