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What do you think of taxing unrealized capital gains?

Asked by gondwanalon (23399points) 1 month ago

Washington State is considering an unrealized capital gains tax to add to its recent realized capital gains tax (OK’d by the Washington State Supreme Court). This notwithstanding the fact that Washington State’s Constitution is against having a State income tax.

Realized capital gains is income. It takes mental gymnastics to claim that it’s something else. Even the IRS considers capital gains as income.

Taxing unrealized capital gains seems absurd and totally unacceptable to me. Especially in a State in which a State income tax in unconstitutional.

What do you think?

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