Fox News reporting Jello Joe Biden s budget contains a tax on unrealized capitol gains . This could include the increased value of your house.

If you are fortunate enough to be subject to this proposed tax, I think you will still be just fine.

Spoken like a worthless liberal

Income taxed on house values, greatness. Yes sir Mr. Trump, I do miss you!

Try again. Unless I missed something, doesn't it only apply to those with income over 100M?

A tax on increased value on your primary home pretty much covers every homeowner out there. I won’t feel fortunate, at all. I can’t imagine this could happen, but democrats have been eyeing several taboo sources of tax money.

So you feel as if a person should be income taxed because the govt says your house is worth more. Explain how this doesn’t hurt every single homeowner in America.

Then you’re really confused.

If you listen to the MSM this is supposed to be a tax on billionaires and their "unearned" income. But I tend to agree with the OP, better read the fine print in the bill or we'll end up with it applying to almost everyone.

Umm it doesn't apply to us peasants?

Ummmm that doesn’t make it right

If you are a renter, you too can bend over. Landlords will bump the rent accordingly.

It doesn't apply to us yet.

Taxes are a give-an-inch, take-a-mile proposition. They rarely go away, they only increase and expand for the most part. Don't get taken in by some "billionaire's tax" rhetoric. Next it will be millionaires, then eventually anyone with a job.

The tax would apply to taxpayers with over $100 million in income and assets, which the White House says would hit just 700 taxpayers. However, it is likely the tax will grow in size in future years to hit thousands or even millions of taxpayers.

When the federal income tax was first imposed in 1913, it imposed a 1 percent tax on incomes above $3,000 (4,000 for married couples). The top rate was 7 percent on incomes of $500,000. In Today’s dollars the 1 percent tax would be imposed on incomes above $83,124 for an individual and $110,832 for a married couple, while the top 7 percent rate would be imposed on $13.8 million in income.

Today, the bottom income tax bracket is 12 percent and applies to income of $9,950 for a single filer and $19,900 for joint returns, with a $12,550 standard deduction ($25,100 for joint returns). The top rate is 37 percent on incomes above $523,600 ($628,300 for joint returns).

Similarly, Congress enacted the Alternative Minimum Tax (AMT) in 1969 following the discovery that 155 people with adjusted gross income above $200,000 had paid zero federal income tax. Over time, The AMT grew so large that millions of Americans paid the tax and millions more saw increased tax complexity. By 2010, the AMT grew so large that Congress had to step in and prevent it from hitting nearly 30 million Americans (20 percent of filers).

The first time this idea was proposed it did not have income limits. It is like letting a fox into your hen house with the understanding he would eat only the fattest 1%.