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Economic illiteracy of the current Democratic is beyond belief. Each of these ideas would harm our economy ...

The Democratic competition to bleed the rich has become fierce. If progressives aren’t satisfied with Elizabeth Warren’s proposed “wealth tax” of 3% a year, AOC’s 70% income tax, Bernie Sanders’s 77% estate tax, or Rep. John Larson’s uncapped payroll-tax increase of 2.4 percentage points,

... but this idea takes the cake. You wanna crash the market? This is how you crash the market.

they now have a fifth option. Oregon Senator Ron Wyden wants to wants to tax capital gains as regular income, meaning rates up to 37%. He would also tax unrealized gains, perhaps decades before the investor sells.

The only question I have is, "Are these proposal purpose designed to create poverty?"

[wsj.com]

BastiatLives 6 Apr 11
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2 comments

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Ryden's proposal is just a natural progression of the Politics of Envy.
Those that are successful are the reason for your failure.
Tax the Rich, Hate the Rich.
So when people like Elizabeth Warren or Ryden propose more and more punitive measures on the wealthy (despite being wealthy) it's just another form of Virtue Signaling.
It's probably one of the more destructive forms of virtue signaling.

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Tucker Carlson also thinks capital gains should be taxed as regular income. It's one of the only issues that I disagree with him on.
He doesn't get the whole Risk / Reward thing. He doesn't understand the Risk part of things.
Also the capital gains tax rate is lower than other rates to encourage investing.
Companies that are household names now (like Apple) would never had made it without private investors.

And that part about taxing Unrealized Gains... that is ludicrous.

risk reward escapes progressive completely

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