That's ridiculous, and hopefully nothing like that passes.. it seems overly draconian, and would cause a need to counter-adjust in a lot of other areas..
Not just ridiculous, but demonstrably impossible. The government would have to track the value of all assets. Wyden has a lot of good things to say, but he is embarrassing himself here.
It’s entirely possible. If you are a traitor, all of your trading assets are valued at year end and the gain or loss is applied against your income. This simply extend that rule to investors.
However it’s crappy tax policy, because all investors will simply classify themselves as traders. And most investors in some years lose more money than they make – so the policy will end up costing the IRS more than it brings in in the long term.
As a socialist, this is a dumb idea.
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