Biden Administration Announces Scam to Tax Money That Hasn’t Been Made Yet – Opinion

For months, the Biden administration has insisted that the so-called “build back better” agenda will cost “zero” dollars. The messaging from the Biden administration has been unwavering and shameful, whether we’re talking about President Obama, his press secretary or Democrats in Congress.

A bill costing trillions of dollars cannot, by definition, be zero dollar. That it might not add to the deficit, another claim no one should believe, doesn’t change that reality Treasury Secretary Janet Yellen admitted that yesterday without realizing it as she discussed Biden’s latest scam – taxing money that hasn’t even been made yet.

.@SecYellenThe tax that would be used to pay for Build Back Better is: “It’s no wealth tax but a tax upon unrealized capital gains by exceptionally wealthy individuals.” pic.twitter.com/XGsQC3GgIU

— The Hill (@thehill) October 24, 2021

Shot Chaser pic.twitter.com/yF1C0GO3L3

— Kween Josie of all the Liberty (@KweenJosie) October 25, 2021

They have to be credited for their creative abilities. I’ll admit that it never occurred to me to tax people on gains that haven’t even been realized. It would have helped me to know that the left is always coming up with more absurd ways of seperating people and their money.

The plan would tax any increase in value of investment even if the investment is liquidated. That means the government gets to play a game of  “heads I win, tails you lose.” If your house increases in value, the IRS taxes you on that increase on a yearly basis despite the fact that you still bear the risk that the home could ultimately decrease in value. Stock market volatility is common, so the same applies. Unrealized losses: What happens? What about unrealized losses?

The White House claims this will only be applied to “billionaires,” but like all taxes, you can be assured such a scheme would not remain contained. The proposal also targets those who have less than $1 million per year in earnings. The tax bill will hit middle class families trying to transfer stock and property holdings to their kids. So much for that “no new taxes on those making under $400,000” pledge, right?

However, the end of individual potential is what matters. Democrats don’t want you owning property. They are against you creating generational wealth. They will control your wealth and take your money. The new tax fraud perfectly serves these two goals.