I'm just listening to Stuart Varney and they're talking about the dem taking over the senate finance committee (vs the budget committee, now led by Bernie Sanders).
This guy wants to change the rules on stock profits so that instead of taxing your profit when you sell, taxing your unrealized gains every year if you just let your stocks ride. Absolutely outrageous. I mostly let my equities ride and build up so that I make more in my annual dividends and capital gains distributions, which I mostly live on.
While this was an exceptional year for me, I made six figures in unrealized gains. I would lose like a third of that if they initiated this. I would never consider taking out a six figure profit in any year except in emergency, as I need nowhere near that to live. I have to wonder if they then also let you report your unrealized losses? I'm betting not. I haven't seen any text on this, I just heard the discussion. They did say that with a close senate, they might not get the needed dem votes for it.