Democrats in the Washington Legislature are proposing a tax on “unrealized gains” in investments like stocks, crypto currency (like Bitcoin), real estate, even collectibles.
Here’s a Fox 13 report about the proposed tax plan by Democrats.
WA Democrats are going to attempt to pass a tax on unrealized gains this session.
Taxing money that does not yet exist is a terrible idea and will only result in more wealth leaving our state.
Via @hanamkim at Fox 13 pic.twitter.com/zqnkl21GaH
— Future 42 (@future42org) December 9, 2024
Vice-President Kamala Harris even supported a tax on unrealized gains from investments during her presidential campaign.
KVI’s John Carlson points out that Washington Democrats are proposing this radical tax plan on unrealized gains because of a projected $10-$12 billion state budget shortfall after Governor Jay Inslee and the Legislative majority over-spent in recent years. Carlson tells KVI listeners that, Amazon founder Jeff Bezos, and the nation of Norway both provide important object lessons to oppose any sort of tax on unrealized gains from investments.
To listen to Carlson’s segment, click the play button below.
The John Carlson Show can be heard weekday mornings from 6-9 on Talk Radio 570 KVI and 101.5 FM HD3. Or listen live at KVI.com
