Bernie wants to increase the rate that income is double taxed and ensure that family businesses and farms can't be passed on to the next generation by increasing the estate tax.
Elizabeth Warren want's a wealth tax which has been tried and rejected in the past.
Now Wyden wants to tax income you don't have. His proposal is to tax you every time any investment you own gains in value even though you haven't gotten any income as a result.
For example you buy a share of Apple stock for $180. A year later it's worth $230. Wyden wants to treat the $50 "gain" as taxable income. Of course if you're an Apple stock owner you know that in a day or two Apple stock could drop back to $180. So what happens when the stock goes down? Do you get a refund of the taxes you paid? It's unclear if Wyden supports that but if he doesn't then essentially he's advocating taxing people based on something they never had. Imagine if you held on to a company's stock for decades and paid taxes on your "gains" every year and then the company goes bankrupt. You'll have paid lots of taxes on nothing. Hardly seems fair.
But if Wyden does support getting refunds when the stock value decreases can you imagine how complex and expensive it would be to implement such a law?
If we follow this philosophy however it gets worse. The government could tax us for the increase in value on our houses. Talk about ways to drive down the housing market. People wouldn't just have to worry about their mortgage but about unpredictable and large tax bills that show up based on how the market value of their houses change.
That's right Wyden wants to tax you for something you don't have. It fits in perfectly with the Democrat idea that what is theirs is theirs and what is yours is theirs too.
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