U.S. Treasury Secretary Yellen proposes a tax on unrealized capital gains to finance Biden’s “Build Back Better” plans
NEW – U.S. Treasury Secretary Yellen proposes a tax on unrealized capital gains to finance Biden's "Build Back Better" plans.pic.twitter.com/pefi3PhoDe
— Disclose.tv (@disclosetv) October 24, 2021
An “unrealized gain” is when something you own gains value, but you don’t sell it, like your house or your retirement fund. So when there’s inflation and it goes up in value, you’ll probably have to sell it to pay the taxes.
Oops, someone’s posted about it. Didn’t show up because my headline was Yellen not Biden. Sorry