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John Greim/LightRocket via Getty Images(MONTPELIER, Vt.)  In a yellow-walled conference room at the Vermont statehouse this week, one attendee ate ice cream and another bounced a toddler on her lap but all were focused on a bill that would tax personal wealth for the first time in U.S. history. At the committee meeting, legislators took up a measure that would tax the capital gains of people with more than $10 million in net worth, even if the gains have not been cashed out. In other words, if a wealthy person s stock or real estate holdings go up in value over a given year, the individual would have to pay taxes on those gains, even if he or she doesn t sell the underlying asset. The bill, one of an array of similar measures introduced by state-level Democrats nationwide, takes up a cause championed on Capitol Hill by progressives like Democratic Massachusetts Sen. Elizabeth Warren and Independent Vermont Sen. Bernie Sanders. Here s what to know about the proposed wealth tax

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