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A tax on unrealized investment gains of very wealthy people could lead to constitutional challenges that end up before a skeptical U.S. Supreme Court.
Sen. Ron Wyden, D-Ore., has unveiled a plan to tax billionaires’ unrealized capital gains. However, if the proposal survives, it may face legal challenges.
Senate Democrats this week are preparing to propose a new tax increase that would raise billions of dollars from a handful of the richest Americans, attempting to create perhaps the most narrowly focused tax policy in postwar history.
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(Bloomberg Opinion) -- In Democrats’ latest effort to find a way to extract more revenue from America’s wealthiest, Senator Ron Wyden of Oregon has proposed taxing them annually on assets they haven’t sold. It’s a complex plan bound to hit legal roadblocks and create logistical headaches.