These people want you to own nothing, like it, and say nothing if the government juggernaut comes for your kulak neighbor next door:
This lady is insane. She literally wants to tax you on money you don't actually have yet based on valuations that fluctuate rapidly!
Let me unravel what "unrealized capital gains" means through an illustration.
Say that you own a home worth $150,000. Let's say the government, through insanely reckless spending and money printing, causes inflation – and just for good measure, artificially shuts down the economy for a year and throws millions of people out of work.
In this completely theoretical scenario, let's say the housing market runs out of control and the value of your house is now $250,000.
That sounds good, until you realize that $100,000 increase was an "unrealized" gain.
Instead of paying taxes when you finally sell your home or cash out your 401k or trade stock, you would be taxed on the subjective, made-up "unrealized" value gain right now... and if you don't pony up for Janet Yellen's salary, the government is coming for you.
Sen. Tim Scott said the "Build Back Better" legislation that would make this terrifying idea into law is being planned in secret, and called it "a one-way ticket to socialism."
"There are no committees that are meeting and talking about the greatest transformation in a negative way of the greatest economic system ever known to man literally behind closed doors… A one-way ticket to socialism."
Yellen may say this is about billionaires, but let's not forget that when income tax was started in 1913, a family making the modern equivalent of $80,000 a year was only taxed 1%, with a cap of 6% for those richer... and this tax only applied to 3% of the population.
It's foolish to think this stops with the rich.
They are literally talking about taxing money you haven't even made yet and cranking it into the government Swamp (not to mention tracking your purchases). This should scare you, my friends.
