I’ve been thinking about the proposal to tax unrealized capital gains.
Let’s get this straight. My grandma gave me $25 in silver dollars 60 years ago. Grandpa gave me $25 cash. I’ve kept both gifts. Back then, either gift would have bought about 100 gallons of gasoline. Today, those silver dollars are worth about $60, and would buy about 150 gallons of gas. That $25 cash would buy about 6 gallons of gas today. So the “progressives” think I’ve made a “capital gain” of $575 on the silver dollars, and they plan to tax some of it away from me.
