To fund the $3.5 trillion redistribution of wealth, Biden is desperate to confiscate assets of those who've worked and earned. This now becomes a government that destroys success, but rewards the dumb, lazy, and non-productive.

There is no motivation to work and achieve. Cause Biden takes most of it and distribute to those who remain idle and violent.I've explained earlier, why unrealized gains must not be taxed.

Biden's policies are the opposite of the Republicans. Republicans rewards success. Biden punishes success.

Taxing unrealized gains will destroy the whole economic structure of the US. Our economic growth is primarily based on stocks sold by corporation to the public. When companies performed well, the stocks rise due to more of demands. However, this will drastically change once Biden tax the unrealized gains. Less people would be motivated to invest in stocks or other assets that grow in value over time. The rich will pull out their assets/and or stocks from the US, and invest in foreign countries.
The drastic down turn of the economy will happen.

All countries in the world don't tax unrealized gains. Even the communist countries don't do that cause they they realize the negative effects that could happen to the entire economy.

Other assets affected are not only stocks. Real estates and other tangible assets that have gone up in value are also affected.

Joe Biden has 4 mansions. The values of those homes have done up in tens of millions more since he purchased several years ago. At the same time Biden uses the taxpayers' money putting up security fence on his investment worth $547,000. Biden is a thief.
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DEMOCRATS
Democrats Unveil Plan to Tax Unrealized Capital Gains
BY JOSEPH LORD October 25, 2021 Updated: October 25, 2021

Senate Democrats plan to reveal a revenue scheme for their multi-trillion dollar budget bill that would tax unrealized capital gains, a move targeted towards the richest of the ultra-wealthy.

The measure would put taxes on unrealized capital gains, but would start at an extremely high threshold. To meet the threshold, an individual would need to make $1 billion or more in income in one year, or $100 million or more for three consecutive years. Only around 700 Americans would be subject to this new tax.

The goal behind the move is to target the wealthiest Americans, whose wealth is primarily in stocks. If a stock owner does not sell their shares of a stock, any profit made is “unrealized” and is exempt from taxation; This would change that, allowing unrealized capital gains to count as income, thus making them subject to taxation.

Treasury Secretary Janet Yellen, who has been supportive of other Democratic revenue schemes, defended the new proposal.

“I wouldn’t call that a wealth tax, but it would help get at capital gains, which are an extraordinarily large part of the incomes of the wealthiest individuals and right now escape taxation until they’re realized,” Yellen said.

This is only the most recent among a slew of proposals by Democrats to finance their landmark budget bill, which they have promised will be entirely paid for.

Other proposals have called for a substantial increase in marginal income tax rates, an increase in the corporate tax rate, and increases in estate tax rates.

Another plan would have allowed the IRS to gain information on the inflows and outflows of any American bank account with more than $600 per year. Sharp backlash from Republicans and private sector businesses forced Democrats to change course on this proposal, raising the threshold to $10,000 per year.

But it is not certain that this new proposal will pass muster with some of the upper chamber’s most important moderate swing votes.

Sen. Joe Manchin (D-W.Va.) has said in the past that he is open to raising income and corporate tax rates, which were slashed in 2017 by the Republican Tax Cuts and Jobs Act.

On the other hand, this new proposal may be more than Manchin, who has cited fears about government overreach on the economy, can stomach.

Much more pressingly, Sen. Kyrsten Sinema (D-Ariz.) must approve of the new scheme.

For weeks, Sinema has reportedly told colleagues that she will not support an increase in the corporate or income tax rate, leaving Democrats scrambling to find new revenue schemes.

After months of no comment, Sinema’s office confirmed these reports Friday.

John LaBombard, a spokesman for Sinema, said that the senator “is committed to ensuring everyday families can get ahead and that we continue creating jobs.”

“She has told her colleagues and the president that simply raising tax rates will not in any way address the challenge of tax avoidance or improve economic competitiveness,” he explained.

Senate Minority Leader Mitch McConnell (R-Ky.) blasted the plan on the Senate floor.

Biden and Democrats, said McConnell, “are dreaming up creative new ways to grab literally historic amounts of the American people’s money.”

“The same socialist spending plans that Democrats claim cost $0 somehow also need staggering new tax hikes to pay for them,” McConnell continued.

McConnell then turned to Democrats’ new proposal, saying, “Democrats are so desperate to raise taxes that they’re now proposing to tax money the American people haven’t even made yet.”

Despite weeks of negotiations, Democrats remain undecided on the final form that their reconciliation bill will take. But without a green light from moderates on this newest proposal, Democrats will once again be forced back to the drawing board if they hope to meet their promise to craft a fully paid-for bill.

Everything McConnell blasted was things that would benefit…You !
It’s all paid for.
Once the people who Owe Taxes , start paying them we won’t need to be
under funded.
Paying their fair share to live in a free country that allowed them and helped them create their personal wealth. Should encourage them to give a little back and pay a little forward for kids and grandkids.
Bottom line is investing in America is quite different from spending . Spending Is giving money to China Importers to make more stuff overseas.
Whereas investing includes paid college tuitions, child care for workers.