Taxing Unrealized Capital Gains

By The Reader's Turn
The Reader's Turn
The Reader's Turn
October 27, 2021 Updated: October 27, 2021

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.

These are the same progressives who have steadily made my grandfather’s gift worthless. Of course, they think it’s “fair” to take some, or all, of my grandmother’s gifts too. I think it’s fair to note that I haven’t gained a thing, I’ve simply been given something that could escape their continuing theft of inflation.

 

Sincerely,

Marquis R. Seidel

Pennsylvania