The concepts of unrealized capital gains taxes and wealth taxes have been topics of debate for a variety of reasons. While they might seem like practical measures for some, they present significant challenges in implementation and acceptance.
Challenges in Levying Unrealized Capital Gains Taxes
- Evaluating assets accurately is exceptionally difficult.
- The complexity involved in imposing such a tax is nearly inconceivable.
Given these challenges, many experts, including myself, believe that an unrealized capital gains tax is unlikely to become a reality. The difficulty in levying such a tax, combined with substantial pushback, especially within a diverse political landscape, poses major hurdles. The Democratic Party, for instance, is composed of a wide range of ideologies, making consensus on such measures difficult.
Political Dynamics and Unrealized Capital Gains Taxes
Recent political events illustrate how contentious topics like these can lead to internal and external conflicts within political parties:
- Recall the experience of President Biden, who faced criticism and pushback after a challenging debate performance.
- Both media figures and political peers exerted pressure, showcasing the challenges within a 'big tent' political party.
Such dynamics make policies like an unrealized capital gains tax challenging to champion and implement, further suggesting that these ideas, while theoretically appealing to some, may not gain practical traction.
Conclusion
While the debate over unrealized capital gains taxes and wealth taxes continues, the practical difficulties in implementing these measures make them unlikely prospects in the near future. Understanding the complexities of policy acceptance and implementation is essential for evaluating the feasibility of these tax concepts.
Full Transcript
Like the concept of unrealized capital gains taxes and wealth taxes for a large number of reasons. These are almost inconceivably difficult to levy. It's how do you evaluate certain it's very, very difficult. I'm not even really concerned about it. There's I just don't think that an unrealized capital gains taxes ever coming because of how difficult it'll be to levy and how much pushback she would get because the Democratic Party is such a wide temp party. Look at what happened to Biden when he had a disastrous debate performance. The leftist media bullied him. He got bullied internally and then people internally bullied him externally. They make him leave.
