“Janet Yellen proposed the idea of taxing unrealized gains…It’s extremely unconstitutional. Essentially, what they’re doing is violating property rights.”— Todd Graf, Scottsdale Bullion & Coin Precious Metals Advisor
President Biden needs to raise money for his administration’s goals, and United States Secretary of the Treasury Janet Yellen has an idea: Taxing unrealized gains.
This proposal would allow the IRS to tax the gains of real estate, stocks, or other assets—before the holder decides to cash out.
This has never been done before. It might be unconstitutional.
And what if there is an unrealized loss?
It may be a far-fetched idea, but we’re keeping an eye on how the IRS plans to raise money for Biden’s new spending plans. This is one of them.
