Democrats' tax plan will affect 'everybody': Grover Norquist

Americans for Tax Reform President Grover Norquist warned the tax will likely affect more Americans than just the rich and will be a 'disaster for economic growth.' #FoxBusiness

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[scotts]

So you get taxed when your gain is only "on paper?" So what happens when the asset decreases in value..."on paper"?? This is one of the most ridiculous taxes they've ever come up with. Correction...THE worst.

[TinyGrandma]

Unrealized Gains tax is completely asinine!

[constitutionalist]

Having a democrat in charge of anything is dam stupid thing to do.

[deirdreberger]

Taxing anyone on money that is not “real” money is criminal. This is authoritarian rule of force.

[nenefry]

Unrealized capital gains. So if the stock goes from I bought from $10, 0000 to $40, 000. I owe $30, 000 gains * say 20% = 6, 000. the next year they get bad earnings, the stock goes down to $20, 000. I now lost my unrealized capital gains but I paid $6, 000. And I still have to pay $10, 000 *20% = $2000. What the hell is happening in this country this is NFW

[makdaddy]

Only Government officials could come up with an idea like completely moronic.

[sambaya]

Everyone except
Politicians, richest people and government workers
They need to start to pay taxes

[deirdreberger]

Pelosi, herself, said taxing unrealized gains from billionaires is not enough.

[violetsabrewing]

“You will owned nothing and you will have to like it”.

[fabulousofcourse]

Wow, Mr. Norquist finally noticed! Better late than never as they say...

[gunnyd]

I'm glad I cashed everything out and buried it in the back yard.

[romonajenkins]

Billionaires are hoarding money while we peasants get crumbs and pray for vouchers! God see all

[africkinamerican]

Remember the way they sold the income tax? That was going to be a " billionaire tax" too.

[charlieb]

It's called Democrat incrementalism... get the toe in the door and lean, then push.

[Bad-o-nomics]

How about the IRS start looking at these politicians own assets first, then we see how this will goes.

[gordonsmith]

This whole concept it insane! It will stifle investment and reduce jobs and goods 🤦🏻‍♂️

[todsylvester]

Unsold Hunter Biden paintings, tax the hell out of him!

[kayakutah]

Unrealized profits on paintings won't be taxed, as long as Hunter is "in the game".

[georgecoons]

all this tax and nothing to show for it.

[Dra]

They also want to do it to Farmers they want to put a tax so high on your property pass it over to your kids they won't be able to afford it