Well, well, well, if you're trying to get wealthy, or if you're already wealthy,

then you need to pay attention to what this policy can do because it has the potential to

either prevent you from getting wealthier or actually destroying all of your wealth.

Yep.

The Biden budget called for new taxes on wealthy Americans, corporations, and business owners, including a very controversial idea to tax

unrealized paper capital gains as income. Now, that's right now for those with more than

$100 million. However however the precedent that this

would set meaning if it gets enacted into law it's only a matter of time until they move that

bar from a hundred million down to 50 down to 10 down to one to who knows where, ultimately taxing everyone's

unrealized profits. Now, if you're not familiar with what this is and why this is important

to you, I'm going to go over some of the pros and cons, and ultimately how this impacts all

investors, anybody that holds an asset with equity or a gain in it.

Now, an unrealized capital gain also called a paper profit refers to an increase in value

for an asset that a person hasn't sold yet, whether it's a share in a business or a property.

Now, this has been a policy that Kamala Harris has promoted this past week that is getting

a lot of people, specifically business owners, entrepreneurs, investors, up in arms.

Many people saying that taxing paper profits for wealthy would discourage investment and be a kill switch

for entrepreneurship could have massive implications and ripple effects all throughout the economy.

And while the narrative sounds good to go out and, you know, close the wealth inequality

gap, because here I'm going to just jump into what the Harris campaign administration is saying

are the pros or the reasons why this needs to get enacted is it will increase revenue

for government programs by taxing unrealized gains.

...