Think that these frkrs don’t know that the nation is filled with absolute idiots? What is being proposed is that the country now implement a tax on theoretical income (‘unrealized gains’) to pay for humongous infrastructure and social spending plans that do not address infrastructure or social needs.
Of course the question on everyone’s mind is: “if the plan cost nothing (as your president is fond of saying), then why do we need a new tax to pay for it?”
If they can sneak this tax past us now (after all it only effects those undeserving rich folk) I can guarantee that 3 years down the road the Supreme Court will rule that it’s “all or none”, and that it is unconstitutional to tax one class of folk one way and others a different way. All of sudden every single asset held by every single American is exposed to this new tax.
Gee, I wonder why they wanted visibility into every bank account that had more than six hundred buck pass through it? Gee, I wonder why they need 87,000 more IRS agents? Guess we will never know.