Announcement We are all moving to Canada - new US tax proposals

[admin]

It's only day 2 of this administration and they want to do this:

• Taxing unrealized capital gains.
• Tax on wealth (all liquid and illiquid wealth would be calculated and taxed yearly)
• Unrealized capital gains refer to the theoretical increase in value of assets that an investor is holding onto.

Janet Yellen, Biden’s nominee for Treasury Secretary, said she would consider taxing such unrealized gains to boost government revenues, reported Reuters.

Oaktree's Howard Marks says this tax proposal in the U.S. makes investing less attractive

Janet Yellen, Biden's nominee for Treasury Secretary, reportedly said she would consider taxing unrealized capital gains to boost government revenues.

www.cnbc.com

If this passed, expect a HUGE outflow of wealth and investors out of US.